General Discussion

tritsofme

(19,887 posts)

44. A sovereign default by the US would have caused a new financial crisis.

Fri Sep 6, 2013, 07:40 PM

Sep 2013

We could have been thrown back into recession.

It's not the same as the sort of partial government shutdowns we saw in the 90s, the consequences would be immediate and permanent.

This is not a political game, default was never a realistic or reasonable option to the president.

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So the Sequester is just another SCAM too? [View all] bvar22 Sep 2013 OP

K&R forestpath Sep 2013 #1

They all have blood on their hands on this one. n/t dgibby Sep 2013 #2

DURec leftstreet Sep 2013 #3

Of course it is tkmorris Sep 2013 #4

Can't cut defense, ya know. Jackpine Radical Sep 2013 #6

The Kabuki continues Hydra Sep 2013 #5

everybody hates congress, but 96% of incumbents get reelected phantom power Sep 2013 #7

Everybody hates congress but everybody loves their congressmen. As long as they're bringing home Ed Suspicious Sep 2013 #41

No wonder I take blood pressure meds. Brigid Sep 2013 #8

I have been saying this for awhile, Republican & Democratic politicians are like the Dustlawyer Sep 2013 #9

all the hoopla about Syria Iliyah Sep 2013 #10

The Economic REALITY of Life for the Working Class in the New American Century... bvar22 Sep 2013 #11

Not in my reality Iliyah Sep 2013 #14

Well, continue to bury your head in the sand, bvar22 Sep 2013 #58

Bravo! Stinky The Clown Sep 2013 #12

I felt like I was seeing a similar con during the single payer health care debate. GoneFishin Sep 2013 #13

You do realize that single payer can be a reality? Iliyah Sep 2013 #16

I think many of the features of ACA are fantastic. GoneFishin Sep 2013 #21

Pres O wanted ACA to pass Iliyah Sep 2013 #27

The Public Option wasn't possible when the ACA was being debated. The ACA will erode bluestate10 Sep 2013 #29

I hope you are right. One thing is for sure, the republicans all have loads in their pants GoneFishin Sep 2013 #87

There was a lot of Kabuki Theater around killling the Public Option. bvar22 Sep 2013 #17

+1000. Nice Salon excerpt. nt GoneFishin Sep 2013 #22

I guess you thought it was a cake walk for ACA. Iliyah Sep 2013 #23

Don't you wish the President & Party Leadership had fought as hard for a Public Option... bvar22 Sep 2013 #63

Majorities in BOTH Houses plus a MANDATE, to boot. Octafish Sep 2013 #82

Actually, there's no money for hundreds or thousands of cruise missiles. We'll have to Flatulo Sep 2013 #15

This really is conspiracy theory nonsense. tritsofme Sep 2013 #18

Thank you! Iliyah Sep 2013 #20

Nonsense. If he had called their bluff they would have been the bad guys GoneFishin Sep 2013 #24

You are right he is not stupid. He knew the benefit tritsofme Sep 2013 #25

Actually I think he has the responsibility to not make things worse...... socialist_n_TN Sep 2013 #37

Sequester is bad, but default is far worse, by many orders of maginitude. tritsofme Sep 2013 #39

I said at the time, let the default happen and see how long......... socialist_n_TN Sep 2013 #40

A sovereign default by the US would have caused a new financial crisis. tritsofme Sep 2013 #44

Bullshit. The consequences would NOT have been "...immediate and permanent."......... socialist_n_TN Sep 2013 #46

Well now you are left making the Republican argument from 2011, I'll leave you to it. tritsofme Sep 2013 #52

Even a blind pig will find an acorn at times..... socialist_n_TN Sep 2013 #56

The far Left has it's theories. Let them wonder in dream land. nt bluestate10 Sep 2013 #30

Funny how the "far Left" is always proven correct in their theories...... socialist_n_TN Sep 2013 #32

everything from the right appears far left fascisthunter Sep 2013 #34

ha! excellent! neverforget Sep 2013 #57

If you arent the left, who are you? And plez share your theories. nm rhett o rick Sep 2013 #77

Call it a conspiracy or call it the system, but......... socialist_n_TN Sep 2013 #31

This goes all the way back to Reaganomics deutsey Sep 2013 #69

Yep. As a lot of us have noted, and not just the Classic Reds, but........ socialist_n_TN Sep 2013 #74

Yes...they tried to stage a coup in the '30s with Smedley Butler as their figurehead deutsey Sep 2013 #75

When the deck is stacked against you, it is foolish not to suspect a conspiracy. AdHocSolver Sep 2013 #33

It really wasn't that complicated. The only players were the Republicans who took over the House tritsofme Sep 2013 #42

A default would NOT have happened overnight...... socialist_n_TN Sep 2013 #43

SS checks had to be cut barely a week after the BCA passed. tritsofme Sep 2013 #45

Social Security was not and never was a part of the budget.......... socialist_n_TN Sep 2013 #48

If Treasury did not have the cash to make the payments tritsofme Sep 2013 #50

Cash flow would not be a problem for the US government.... socialist_n_TN Sep 2013 #54

Revenue would only cover about 60% of expenses. tritsofme Sep 2013 #59

If that's the case then why is so much of the SS Trust Fund ....... socialist_n_TN Sep 2013 #60

You are totally ignoring the influence of the one percent. AdHocSolver Sep 2013 #53

I think we are overusing the CT card. I dont think the OP means there is a "master plan" rhett o rick Sep 2013 #76

of course it happened under a DEMOCRATIC President!!!! spanone Sep 2013 #19

Funny how that works, huh? MotherPetrie Sep 2013 #26

K&R - Good post! nt 99th_Monkey Sep 2013 #28

Yes. K&R Fantastic Anarchist Sep 2013 #35

DING DING DING!! 2naSalit Sep 2013 #36

Sure it was a scam. The capitalists wanted austerity and they got it..... socialist_n_TN Sep 2013 #38

When was it not? quakerboy Sep 2013 #47

The Sequester is not really that simple. bvar22 Sep 2013 #62

//\\ G_j Oct 2013 #88

It is affecting the poor but we don't talk about that poor underpants Sep 2013 #49

There is always money for war liberal N proud Sep 2013 #51

Kicked and recommended. Uncle Joe Sep 2013 #55

It isn't just about voting mick063 Sep 2013 #61

Not going to happen unless Big Media is completely realigned Doctor_J Sep 2013 #64

Media will pursue market. mick063 Sep 2013 #66

No kidding the problem is that gopiscrap Sep 2013 #65

Of course its a scam workinclasszero Sep 2013 #67

Secretary Kerry claims our partners in the Middle East will pay the cost ymetca Sep 2013 #79

I find it incredible that just a few months ago fujiyama Sep 2013 #68

there were LOTS of us who knew that money would be found for the mic Doctor_J Sep 2013 #70

It really sucks when a nation of citizens woo me with science Sep 2013 #71

It sucks worse when a nation doesnt wake up at all. Look at some of rhett o rick Sep 2013 #78

Yes, it does... woo me with science Sep 2013 #81

Yes I agree with the critical mass comment. And I dont think it can end good. rhett o rick Sep 2013 #83

I guess critical mass can be used in a lot of ways. woo me with science Sep 2013 #85

There is no political system in the world, ... CRH Sep 2013 #72

The Feds wouldn't LIE to us, blkmusclmachine Sep 2013 #73

You are correct. They have gotten better at it, they pay Think Tanks enough money to perfect the sabrina 1 Sep 2013 #80

Its all a SHAM iamthebandfanman Sep 2013 #84

You get a rec for this n/t Not Sure Sep 2013 #86

Not unlike the bailout that occurred right at the 2008 changing of the guard. CrispyQ Dec 2013 #89