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Re: Americans See Debt Threat, Reject Tax �Scare�

By: fizzy in ROUND | Recommend this post (0)
Sat, 25 Jun 11 4:45 AM | 34 view(s)
Boardmark this board | De's Test Board 		Msg. 33624 of 45510
(This msg. is a reply to 33620 by Decomposed)
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Default can only happen if the US fails to make a contractual payment on debt on NOTES, per schedule.

There is no question but that even as the DemoPublicans whine about restrictions on their credit cards they still have plenty of cash in the bank (taken from private citizens' bank accounts by force, let us never forget) to pay the interest on all bonds and other contractual debt obligations. They don't need to borrow one penny to pay all the interest. They could pay the interest many times over and still wouldn't need to borrow a penny more than they already have.

So those who talk of "default" are either too stupid to live or too corrupt and lying to be either in office, in bureaucracy, or in journalism. Take your pick: stupid or lying. Is Obama stupid or lying? How about "Turbo Timmy" Geitner?

The issue isn't whether failure to raise the debt ceiling could trigger a "default" it is only whether failure to raise the debt ceiling might get in the way of ordering more PORK for dinner at the White House or killing civilians in this and other countries. Obviously the politicos DESPERATELY want their PORK and killing to proceed and increase. And, apparently, a lot of corporate types who have Fascist inclinations feel similarly.

P.S. In addition, the Treasury has the authority to PRINT unbacked dollars, if necessary, to pay interest or just to buy pork and beings. So warnings of "default" are truly idiotic or just plain ugly and naked propaganda. Get a brain.


I have come to realize that men are not born to be free. Liberty is a need felt by a small class of people whom nature has endowed with nobler minds than the mass of men. -Napoleon

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The above is a reply to the following message:
Americans See Debt Threat, Reject Tax ‘Scare’
By: Decomposed in ROUND
Fri, 24 Jun 11 10:56 PM 		Msg. 33620 of 45510

Americans See Debt Threat, Reject Tax ‘Scare’

By Julie Hirschfeld Davis - Jun 24, 2011 12:01 AM ET
Bloomberg.com

Americans say that the $14.3 trillion U.S. debt threatens the economy and that entitlement programs may go broke even as they dismiss as “scare tactics” the arguments offered by Republicans and Democrats who are debating a solution.

Their sentiments in a Bloomberg National Poll suggest that the public is open to the recommendations of the majority of President Barack Obama’s debt commission. Members of the group, which included current and former members of Congress and White House officials, called for revenue increases and spending cuts that would have shaved deficits by $3.8 trillion over the next decade.

More than 60 percent of those surveyed say that interest on the debt may lead to a recession and that the rising costs of Medicare and Social Security represent real dangers, according to the poll conducted June 17-20.
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Fifty-one percent of poll respondents say they aren’t convinced the U.S. could default on its obligations unless Congress raises the debt ceiling. They say that’s a scare tactic, compared with 43 percent who say default is a real danger.


Full story: http://www.bloomberg.com/news/2011-06-24/americans-see-debt-threat-reject-tax-scare-.html

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