US Bankers to Rand Paul: You are an idiot.

[grantcart]

Rand Paul went on MTP and stated that as the income of the federal government was greater each month than the scheduled bond payments that there was no possibility of a default and that the President was "irresponsible" to suggest that was the case:

http://www.washingtonpost.com/blogs/post-politics/wp/2013/10/06/rand-paul-its-irresponsible-of-obama-to-talk-about-default/

"I think it's irresponsible of the president and his men to even talk about default. There's no reason for us to default. We bring in $250 billion in taxes every month. Our interest payment is $20 billion. Tell me why we would ever default," Paul said on NBC's "Meet The Press." "We have legislation called the Full Faith and Credit Act, and it tells the president you must pay the interest on the debt. So this is a game."

Reuters is carrying this report from the banking industry that would appear to a) answer Mr. Paul directly on point and b) consider that point beyond idiocy:

http://finance.yahoo.com/news/top-u-bankers-warn-against-085655481.html

(Reuters) - Top U.S. bankers have warned the Obama administration and Republican lawmakers that any move to pay interest on debt before obligations such as Social Security and payments to veterans would pose severe risks to financial markets and the economy, the Wall Street Journal reported.

Some lawmakers think prioritizing interest payments would placate bond investors if the government breaches its borrowing limit, the Journal said.

However, heads of the nation's largest financial institutions told the officials in meetings that prioritizing some payments would create insurmountable uncertainty for investors, drive up borrowing costs and disrupt markets, the Journal said, citing people familiar with the meetings.

How far have Republican legislators fallen in the moral matrix?

If you go down to the lowest rung of amoral bankers you would then have to look downward into a cavern the size of the Grand Canyon and then in a little speck way down there, you would find House Republicans.

Not only should these people not be in any position to legislate or offer an opinion on anything more substantial than the likelihood of rain, I don't think they should be given driver's licenses.

[randome]

1. They can drive the clown car without a license.

Still, good point.
[hr][font color="blue"][center]Birds are territorial creatures.
The lyrics to the songbird's melodious trill go something like this:
"Stay out of my territory or I'll PECK YOUR GODDAMNED EYES OUT!"[/center][/font][hr]

[Gothmog]

2. Rand Paul is an idiot

The concept that a default can be managed is stupid

[rock]

3. Stupid is as repuglicans do

[Scurrilous]

4. K & R

[msanthrope]

5. "We need Rand Paul." Straight from a Duer......Guess who before you click!

http://www.democraticunderground.com/?com=view_post&forum=1002&pid=3587463

[Ohio Joe]

6. Do I get a cookie :)

I admit, it was a wicked easy guess but still

[msanthrope]

7. You Better Believe It! nt

[grantcart]

8. kick