Sporstwo.com Official "DEBT CEILING" Thread (October 2013 Edition)

[EL PRESIDENTE]

This shutdown is pretty minor compared to.....the impending debt ceiling debate!

Keep on kickin' the can down the road!

Eventually they'll stop I guess..maybe now is the time. How many times have we been here though, a few.

 

[Nikolokolus]

I agree that spending needs to be curtailed and a balanced budget is needed, but a default would be some epic level stupidity.

 

[EL PRESIDENTE]

Actually it would reflect the state of the country accurately without smoke and mirrors. The sooner they tackle how fucked we are the shorter the pain is going to last afterwards.

 

[huevonkiller]

Don't buy into balanced budgets, that just means higher taxes. A monetary collapse is also likely.

 

[EL PRESIDENTE]

Will happen eventually. Longer they delay, the worse its going to be. So fucked.

 

[huevonkiller]

Just let them default with lower taxes, since it is inevitable.

 

[magnifier661]

Ah yes. Funny how obamacare is the smoke and mirrors to the biggest problem of all.

 

[maxiep]

I agree that spending needs to be curtailed and a balanced budget is needed, but a default would be some epic level stupidity.

We won't default. Our debt has first priority. The government takes in enough money to cover its debts, SS and Medicare. Defense is pretty much covered as well. Tax receipts are at an all time high.

It's another false crisis.

 

[Nikolokolus]

We won't default. Our debt has first priority. The government takes in enough money to cover its debts, SS and Medicare. Defense is pretty much covered as well. Tax receipts are at an all time high.

It's another false crisis.

I guess that's my point. If they default, it will be by choice and not because their hand was forced.

 

[huevonkiller]

Hmm that debt-to-gdp ratio is still pretty damn high, I bet we're screwed in the long-run.

 

[Eastoff]

I thought I'd share this piece on the subject.
http://www.theatlantic.com/politics...obama-will-be-forced-to-break-the-law/280176/