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Rhiannon12866

(203,026 posts)
Wed Oct 6, 2021, 03:33 AM Oct 2021

Republicans Give Away The Game On Debt Ceiling Obstruction - Ali Velshi - MSNBC



Ali Velshi explains how Republicans are hoping that by forcing Democrats to deal with the debt ceiling on their own they can turn a necessary, perfunctory vote into a political stunt. Aired on 10/05/2021.


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Republicans Give Away The Game On Debt Ceiling Obstruction - Ali Velshi - MSNBC (Original Post) Rhiannon12866 Oct 2021 OP
"The United States has never actually done this before"... PoliticAverse Oct 2021 #1
Wow! Thanks for the research, important fact check! Rhiannon12866 Oct 2021 #2
See also... PoliticAverse Oct 2021 #3
These article weren't from that long ago, I'm surprised they got by the news researchers Rhiannon12866 Oct 2021 #4
I remember when researching meant trekking down to the library... PoliticAverse Oct 2021 #5
You're right, and I went to the library, too. Rhiannon12866 Oct 2021 #6
Theater Roy Rolling Oct 2021 #7

PoliticAverse

(26,366 posts)
1. "The United States has never actually done this before"...
Wed Oct 6, 2021, 03:39 AM
Oct 2021

It's amazing that people like this either flat out lie or just don't do basic research (which thanks to the Internet is easier than ever)...

When Did The U.S. Last Default On Treasury Bonds?
https://www.npr.org/2011/07/11/137773341/looking-at-when-the-u-s-last-defaulted-on-treasury-bonds

PoliticAverse

(26,366 posts)
3. See also...
Wed Oct 6, 2021, 03:47 AM
Oct 2021

Debt Ceiling 2013: Lessons From The Last Time The US Defaulted
http://www.ibtimes.com/debt-ceiling-2013-lessons-last-time-us-defaulted-1410778

Actually, the United States Has Defaulted
https://dmarron.com/2013/10/04/actually-the-united-states-has-defaulted/

https://onlinelibrary.wiley.com/doi/abs/10.1111/j.1540-6288.1989.tb00353.x

Because of severe technical difficulties, the U.S. government was unable to repay investors in Treasury bills (T-bills) in late April through early May, 1979. This incident led to a 60 basis point increase in T-bill rates at the initial occurrence of the default. Unlike other information effects of that era, such as Henry Kaufman's predictions or Paul Volcker's “Saturday night special,” this increase in rates was not offset by a subsequent decrease in rates after the Treasury cured the default. The default apparently warned investors that Treasury issues were not completely riskless, which translates into a $12 billion annual increase in federal interest payments as a result of the 60 basis point permanent increase in interest rates.


A Brief History of U.S. Defaults
https://www.theglobalist.com/a-brief-history-of-u-s-defaults/

PoliticAverse

(26,366 posts)
5. I remember when researching meant trekking down to the library...
Wed Oct 6, 2021, 03:59 AM
Oct 2021

uphill both ways in the snow to use The Encyclopedia Britannica or The Readers Guide to Periodical Literature and involved significant time and work (and 5 cents per page for microfiche/microfilm copy from old magazine or newspaper articles).

Kids these days have it so easy.

Rhiannon12866

(203,026 posts)
6. You're right, and I went to the library, too.
Wed Oct 6, 2021, 04:02 AM
Oct 2021

It's pretty amazing and I wish I could tell my Dad - anything we need to know is only a computer search away.

Roy Rolling

(6,853 posts)
7. Theater
Wed Oct 6, 2021, 06:15 AM
Oct 2021

Even some of the news outlets are actors in the bigger play of disinformation. It may be unwittingly, but it is still ignorance. They look and act the part, but the foundation of truth is weak.

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