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Old 07-30-2011, 03:58 PM   #15
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Quote:
Originally Posted by Francesca
I wonder how long a "grace period" the World will give us...

Think it'll show up with a big ol' tow truck on Wednesday?
You can bet the world won't be as kind and forgiving as we have been, how many Billions of other countries debt have we forgiven? Not just once but 2 &3 times for some of the countries we now owe the most to.
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Old 07-30-2011, 04:04 PM   #16
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I couldn't agree more
Folks should pay the debts they've incurred, or let others incur for them.
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Old 07-30-2011, 04:08 PM   #17
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Worse, they'll cut off our I phones ... we're doomed ....
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Old 07-30-2011, 04:23 PM   #18
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HMMmmmm - ya think things are bad NOW - and wonder if it will get WORSE?

You ain't seen ANYTHING yet, and within 24 months, THESE will be looked back upon as the "good 'ol days"....
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Old 07-30-2011, 04:33 PM   #19
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The same congress has already spent/incurred/contracted the bills that we have coming due. A better comparison would be if you decided you did not have enough money so you would just not pay your mortgage and utilities...that is "default" and you would have "consequences"...just a we shall in the event they do not drop there partisanship and compromise.

BTW...I do support a genuine attempt to reduce expenses...not just speeches and not using something this dangerous in an attempt to solve our issues overnight...we did not get into this overnight and we will not solve it overnight...but we must start...Thanks
Why is it that the assumption is we as a country just WON'T PAY? This default isn't a Chapter 7 bankruptcy we're talking about.

If we don't raise our own credit limit, then why can't we pay our debts somewhat more slowly, akin to a Chapter 13?

I suspect having a rational plan with the force of law to reduce debt and spending would be the MOST calming to financial markets around the world, and do the most to bolster an economic recovery.

I know it wouldn't make good sound bites on network news.
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Old 07-30-2011, 04:34 PM   #20
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When we retired, We went to a cash only basis. We only buy something if we can afford it. We were dying to go out west this year, but gas went up and we are going to save and go next year. There is no reason our country can't do the same thing. It makes no sense to borrow money and turn around and give it to other countries.
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Old 07-30-2011, 04:57 PM   #21
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I suspect having a rational plan with the force of law to reduce debt and spending would be the MOST calming to financial markets around the world, and do the most to bolster an economic recovery.
I hereby appoint YOU official Minister of Common Sense Financial Scenarios.
And so that you never have to worry about re-election campaigns-or politics-, the appointment is for life.

Thanks!
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Old 07-30-2011, 05:13 PM   #22
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Quote:
Originally Posted by Dave and Jaime

No, it is exactly like calling your bank and asking to have your credit card limit raised because you want to avoid overlimit charges. It is irresponsible for the bank to allow you to go deeper into debt when you are already "maxed out" and can't meet the current monthly payments. If it were you or me, and we wanted to be responsible, we would cut down on our spending and use the money to pay down the balance or we would get a 2d job to increase our income. The easiest (and worst) thing we could do would be to simply have our credit limit raised and go further into debt.
I love to read what most people should I say should understand, this will not change to many people DON'T understand
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Old 07-30-2011, 05:18 PM   #23
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As a outside observer this is my thoughts on the situation.
1) The dept ceiling will be raised.
2) Your countries credit rating will be lowered to double A.
3) all interest rates will increase due to the change in credit rating.
4) Taxes will be raised and new ones imposed.
5) All government services will be greatly reduced or in some cases eliminated.
6) At the end of all this your government will give themselves a raise for all their fine work.
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Old 07-30-2011, 05:23 PM   #24
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it will really screw us that have done the work and the gov owes us the $$ for the checks they wrote on our backs whilst supporting and defending the U.S.A.
us military retirees are first to loose pay checks
then my VA benefits for being damaged



i read a thing last night
i read a piece
the house passed a bill that spelled senators Reids name, "Reid", it passed and was forwarded to the senate where senator Reid had it voted down because they spelled his name "Reid"

you know biting off your nose to spite your face and all
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Old 07-31-2011, 12:08 AM   #25
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What's the rumor about government taking away our RV"S with high taxes on everything? Is this for real? No rich people ever paid my current taxes, I paid them all. And they want to continue taxing the rich? Something don't fit here. I'm not rich either.
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Old 07-31-2011, 06:32 AM   #26
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Bottom line is our fearless leaders spent our money unwisely , poorly, badly , on things that only enriched themselves, and their friends ... and did nothing for the average person who pay the bulk of the taxes ... Now we have to pay for their Bad decisions ... It's our fault , we were foolish enough to elect them .... We can only blame ourselves , now we Will pay ... and pay dearly ...

"any one who will trade freedom for security deserves neither" - Ben Franklin
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Old 07-31-2011, 07:00 AM   #27
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I don't think the average person in this country is going to notice any difference IF the government defaults. Life will go on and people will cope. Yes interest rates will raise but if you are not looking to finance something it won't mean much to you, besides, maybe then we'll be able to earn a decent return on our CDs and such. If anyone in DC were half as concerned about our debt problems as they are about getting re-elected, it would have been solved a long time ago ! Congress will do what they have always done and come to some kind of agreement at the last minute, that's just the way they work.....
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Old 07-31-2011, 07:04 AM   #28
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Pretty much ashamed of our goverment, spending money like its water coming out of a tap, problem is, I just got no more money for them, they need to stop this crap about there parties, stop borrowing money from one country to give to another country and start taking care of our own country, Stop most of the inports coming in and more exports, you say they are running our country, your right , straight into a hole that can never get out, congress gives themselves a COLA of $3000.00 per month but didn't SS any COLA, Our elected leaders say we are creating jobs, not sure about the other states in the union, but here our companies do the hiring and laying off, plant production slowing down ( I donate my time) At 2nd Harvest our lines are getting longer, the donations of food is getting smaller, while our elected members of the goverment sits eating top notch food, I am for one stop the spending, and they need to , before its to late and America won't be around as a country of its own.
They need to listen to us, for the people by the people and stop crying ,acting ,like little 6 year olds, We have our solders in harms way, wondering how there families will pay the bills, eat a supper tonight ,but the fact is, they need to worry about what there doing to get back to there family. My Goverment regardless of the party they belong to, should be ashame of there selfs and stop acting like fools.
I could go on, but i think I best stop here, but it felt so good to get this off my chest, sorry all but thanks for let me vent.
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