quote:
There are two realities about the debt ceiling debate everyone keeps missing.

1) If it were to go long enough to disrupt bond payments, it would create a massive global economic disruption. This isn’t a loan you refuse to pay to China- these are US bonds held by just about every entity in the world with money.

2) The Dems would lay this at he republicans feet and with the help of the MSM it would be a Republican problem.

The time to deal with spending is when the money is spent not when the bill is due. We’ve seen this happen a dozen times.

I agree with what you said, but the problem with the bolded part is that while we have seen this happen a dozen times, the outcome is the same and nothing changes..

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Posted by SquatchDawg

Cohutta Wilderness

Member since Sep 2012

14895 posts

Posted on 5/31/23 at 9:35 am to Friscodog

quote:
agree with what you said, but the problem with the bolded part is that while we have seen this happen a dozen times, the outcome is the same and nothing changes..

I agree with your sentiment but this would have a hige impact on every entity that holds money…..from your local bank to your retirement account to pension funds…to insurance companies…to every global company….to foreign countries…etc.

Republicans don’t want to be responsible for destroying the world economy. They know it….we know it. They same crooks in DC acting tough now won’t touch defense, entitlement or discretionary spending with a 10 foot pole during budget votes….when the debt really matters.

I don’t know what the solution is but crashing the treasury market isn’t it.

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