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Old 10-03-2013, 04:02 PM  
Direckshun Direckshun is online now
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Should we default on the nation's debts over Obamacare?

Take whatever position you want: that you want Obamacare repealed, that you want a couple parts of it repealed, that you want it to be delayed...

Whatever position you anti-ACAers adopt these days, and answer this question:

Do you believe we should default on our debts because Obamacare is being implemented in its current form?
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Old 10-03-2013, 09:21 PM   #76
petegz28 petegz28 is offline
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Quote:
Originally Posted by cdcox View Post
It's working out great for Greece!
Defaulting didn't hurt Greece. Spending more money than Greece had hurt Greece. Default was a symptom not a cause.
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Old 10-03-2013, 09:21 PM   #77
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Originally Posted by cdcox View Post
It's working out great for Greece!
America hasn't failed to rebound yet...
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Old 10-03-2013, 09:22 PM   #78
cosmo20002 cosmo20002 is offline
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Quote:
Originally Posted by cdcox View Post
Their tactics, if the threats are played out, aren't in anyone's interests. If they default, there are only huge losers. Therefore that tactic should be out of bounds. We govern by elections, not by threats that would take down the US economy.
The threats alone got US credit downgraded last time.
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Old 10-03-2013, 09:24 PM   #79
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Originally Posted by cdcox View Post
Explain in detail how going through with defaulting on the debt leads to a better America. Walk me through why you think we should default.
Well, if nobody is willing to lend to you anymore, you don't have to worry about taking on more debt.
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Old 10-03-2013, 09:24 PM   #80
HonestChieffan HonestChieffan is offline
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Quote:
Originally Posted by cosmo20002 View Post
The threats alone got US credit downgraded last time.
So you see another downgrade? Any idea when?
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Old 10-03-2013, 09:24 PM   #81
petegz28 petegz28 is offline
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Quote:
Originally Posted by cosmo20002 View Post
The threats alone got US credit downgraded last time.
Yeah, the amount of debt had nothing to do with it....
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Old 10-03-2013, 09:25 PM   #82
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Originally Posted by cdcox View Post
Government shutdown and defaulting on the debt are two different things.
Yes, I know. I don't know why you're talking about default since that negotiation hasn't even begun. The brouhaha over Obamacare funding/mandate delays is related to the continuing resolution issue so I am confused.
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Old 10-03-2013, 09:25 PM   #83
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Only in the democracktic world does not taking on more debt get you in trouble.
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Old 10-03-2013, 09:26 PM   #84
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Quote:
Originally Posted by cosmo20002 View Post
The threats alone got US credit downgraded last time.
That's not even true according to the Moody explanation.
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Old 10-03-2013, 09:27 PM   #85
petegz28 petegz28 is offline
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Originally Posted by patteeu View Post
That's not even true according to the Moody explanation.
Germans and Pearl Harbor and what not
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Old 10-03-2013, 09:33 PM   #86
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Originally Posted by petegz28 View Post
Defaulting didn't hurt Greece. Spending more money than Greece had hurt Greece. Default was a symptom not a cause.
I agree that Greece's problem is spending more money than they have. Defaulting was an end point. But we don't have a financial need to default now or any time in the near future.

By defaulting without financial need to do so, we would be volunteering to immediately accelerate all of our eventual problems to right now. That doesn't help anyone.
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Old 10-03-2013, 09:35 PM   #87
cosmo20002 cosmo20002 is offline
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Originally Posted by petegz28 View Post
Yeah, the amount of debt had nothing to do with it....
Correct. Reading what the credit reporting agencies said about it.
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Old 10-03-2013, 09:36 PM   #88
HonestChieffan HonestChieffan is offline
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Originally Posted by cdcox View Post
I agree that Greece's problem is spending more money than they have. Defaulting was an end point. But we don't have a financial need to default now or any time in the near future.

By defaulting without financial need to do so, we would be volunteering to immediately accelerate all of our eventual problems to right now. That doesn't help anyone.
What is the default now number? If we knew what you know all this can be avoided. Share that number now
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Old 10-03-2013, 09:36 PM   #89
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A decision to raise the debt limit does mean that the US will default on existing debt.

Regardless of the debt ceiling, if the interest payment on the debt is just under $400 Billion ($395,845,239,236.39 for 2013) and the US brings in $1.8 Trillion in tax revenue (2013 numbers and does not include $1 Trillion in Social Security receipts), there is no reason the government would not be able to service existing debt or go into default.

Default would only occur in the event the Administration decides, as is their stated policy, to default on existing debt payments in favor of other expenditures.

BTW: Social Security receipts still exceed disbursements, so the only reason SS checks would not go out is, again, because someone intentionally decides to withhold them.
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Old 10-03-2013, 09:38 PM   #90
cosmo20002 cosmo20002 is offline
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Originally Posted by petegz28 View Post
Only in the democracktic world does not taking on more debt get you in trouble.
Not paying your bills is what causes the trouble. You can't really be this dumb.
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