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debt ceiling
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<blockquote data-quote="BrownArmy" data-source="post: 1209472" data-attributes="member: 18225"><p>The irony is that the Republicans (TEA-party and others), who are now negotiating with the express purpose of dealing with the debt and deficit, have actually steered us into a zone where our debt and deficit are going to rise.</p><p></p><p>Before we default, if we do:</p><p></p><p><strong>Shutting the government down is actually more expensive than running the government - we're not saving any money folks.</strong></p><p>The shutdown is effecting the finances of MANY Americans, etc. etc. Not a great political move, frankly.</p><p></p><p>If we default: </p><p></p><p>USA credit rating goes down, interest rates for our borrowing go up.</p><p>Stock market takes a hit, more of the American people lose out (401K etc.).</p><p>US debt (which the world trades as the common coin of international commerce) is now uncertain, and the entire world economy has the potential to take a nose-dive, which equals a dump-truck load of manure for pretty much everyone on the planet.</p><p></p><p></p><p>(If the world decides that US debt - being so unreliable - isn't the best coin for international commerce, China will be happy to take the lead).</p><p></p><p>Is it worth it, TEA-Party? You're cutting the nose to spite the face, etc.</p></blockquote><p></p>
[QUOTE="BrownArmy, post: 1209472, member: 18225"] The irony is that the Republicans (TEA-party and others), who are now negotiating with the express purpose of dealing with the debt and deficit, have actually steered us into a zone where our debt and deficit are going to rise. Before we default, if we do: [B]Shutting the government down is actually more expensive than running the government - we're not saving any money folks.[/B] The shutdown is effecting the finances of MANY Americans, etc. etc. Not a great political move, frankly. If we default: USA credit rating goes down, interest rates for our borrowing go up. Stock market takes a hit, more of the American people lose out (401K etc.). US debt (which the world trades as the common coin of international commerce) is now uncertain, and the entire world economy has the potential to take a nose-dive, which equals a dump-truck load of manure for pretty much everyone on the planet. (If the world decides that US debt - being so unreliable - isn't the best coin for international commerce, China will be happy to take the lead). Is it worth it, TEA-Party? You're cutting the nose to spite the face, etc. [/QUOTE]
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