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Politics : View from the Center and Left
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To: Steve Lokness who wrote (201238)9/14/2012 3:27:52 PM
From: Cogito   of 541967
 
You do realize that the safety nets that we now have and are financing with foreign dollars also goes away ..........don't you?
You realize that the bulk of our national debt is held by Americans, don't you?

But I'm not arguing for defaulting on our debts, precisely because it would hurt Americans too much. The other points you made about it may or may not be valid. Creditors forget after a while. Credit ratings are easy to destroy, and harder to build. But it's not impossible to fix a credit rating, either. It just takes time and consistent effort.
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