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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (622228)	7/30/2011 5:25:39 PM
From: Brumar89	1 Recommendation Respond to of 1578105

Not raising the debt ceiling doesn't put us into default.

To: tejek who wrote (622228)	7/30/2011 6:39:32 PM
From: jlallen	2 Recommendations Respond to of 1578105

Dumbfukk: The Treasury will have more than enough $$$ to avoid default on the sovereign debt of the US. Any other claim, like the one you made, is a LIE.

To: tejek who wrote (622228)	8/1/2011 10:33:46 AM
From: TimF	Respond to of 1578105

But it does put us in default. And that's a serious fudiciary breach to US debt holders. Sure late payments would, but they wouldn't amount to violating the 14th amendment. Also not extending the debt ceiling != making late payments on debt. The debt payments are in the neighborhood of a tenth of government revenue. We started running out of money in May. The federal government (not "we") isn't running out of money, money is coming in all the time, and that money is a lot more than what's needed to make the debt payments. What is happening is the income is falling short of what the government wanted to spend. If the deal falls apart, and the government reaches the point where it can pay for everything it promised, then it has to spend less. It should spend less, but without extending the debt limit the change would happen too quickly. So I don't have a problem with extending the debt limit, but if it wasn't extended default would only happen if Obama wanted a default and chose not to make the debt payments.