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Old 10-15-2013, 05:27 PM   #36
AustinChief AustinChief is offline
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Join Date: Aug 2000
Location: Austin
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Quote:
Originally Posted by Cleudus View Post
Defaulting on a loan includes interest and principal. You are so much into your ideology and beliefs that your government party tells you that you can't even except simple facts. Mate this is a wake up call for you. Are you objective? If not then tell me and I'll stop debating with you knowing full well you are completely indoctrinated. If you want to put party before country, just let me know that you are unreasonable, and disbelieve all facts that are contrary to what you party made you swallow.
PLEASE educate yourself.

I bolded the part that is correct in this regard (although the "principal" is simply bonds reaching maturity which doesn't matter since you simply issue more bonds to cover that). The US didn't make a "loan" to defense contractors, nor did it loan money to Food Stamp recipients nor does it loan money to the people who work for the FDA. The LOAN we would default on (should Obama chose to) are BONDS (and you can maybe stretch and throw in Social Security) we have plenty of money to make these payments. What you are talking about are making payments to other programs and services that are NOT OBLIGATED payments. Just because you REALLY WANT to keep playing paintball or giving to charity doesn't make it an OBLIGATION requiring the credit card company to raise your limit.

Last edited by AustinChief; 10-15-2013 at 05:42 PM..
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