Obama as Chicken Little
 

First it was if a deal isn't made by last Friday SS, military etc checks won't go out Aug 2,. Then it was before the foreign markets opened last Sunday night and now almost a full week after the predicted dooms day hour the sky is still where it's supposed to be. This guy at least is consistent in not having a clue!

Shocking but IMO The debt ceiling should remain where it is. Borrowing more should not be an option. SS and military checks must be paid. Checks to bankroll University studies, NPR, PBS, EPA, UN, NATO, raises and pensions to Fed workers not so much. Checks to bankroll the ongong stimulus pork projects, not at all. Instead of forgiving foreign debts (Egypt etc) collect them as we need the money. Fannie and Freddie need to grow up and either survive or die on their own. We need to seperate completely from the USPO in a preventive measure to not be on the hook for future pension obligations. We have plenty of funds available.

We certainly don't need to be going further into debt, instead we need to be paying down the debt!

It's like a FOX News talking point rundown.

Good luck getting a loan or paying off your credit card when interest rates go through the roof sometime next week. I hope your 401k is also completely withdrawn.

It's fine to criticize the president, but when pretty much every financial expert ever is using terms like "cataclysmic" to describe what will happen if we hit the debt ceiling, then I'm going to go ahead and believe that we don't want to see what happens should the statutory debt ceiling not be raised.

Also, if one does the math, this is literally impossible. Pretty much the only things we'll be able to pay should the US go into default are Social Security and Medicare, interest on our debt, and perhaps defense contractors so our soldiers aren't armed like the Continental Army in 1776. There's no denying we are overspending, but as the old expression goes, perhaps it has to get worse before it gets better.

FYI we hit the debt ceiling a couple months ago. Interest rates didn't budge. As discussed in seperate threads maybe when the State of WI refused the $200 million for hi-speed rail it should have taken more than an hour to announce it will go to Ohio and IL. Of course to this administration it's only chump change! Multiply that by 100's of other needless projects plus a white elephant represented by the new taxes, fees, fines known as Obama care. Where else in the world would a citizen be taxed because he has too good of a health care policy. Taxing cigs and alchohol I understand but taxing a healthcare plan that is considered 'too good', 'a cadilac', 'luxury' :zz::zz: What's next a jogging / workout tax?

I think you're missing the point. I'm all for cutting back on spending, but there has to be a better Waterloo for conservatives than this. The stock market crash of '87 will look like nothing compared to what happens on August 3rd.

Except everyone has been warned unlike '87. ;)

Right, so we've been warned. Everybody should pull their money off the market now then. I'm sure that's helpful.

If it were going to actually happen you would not be warned. The warning is to shake out prior to the Melt-Up once a deal is struck.

It's okay. Dell doesn't deal with reality. He'll be fine :tro:

Have you seen any Faux coverage of the debt ceiling stuff this past week?

It's like they are on another planet from the rest of us :D

Really? It's like 75 percent of the coverage...

Oh, yeah - but it's what they say, compared to the rest of the world :D Quite a .... um .... "unique" .... view of the current political realities in Washington.

As long as I have no part paying for anything to do with you? :tro:

It has nothing to do with anything. Just a formality according to you. LOL

Why are you concerned?

In the meantime, the pursuit of happiness in the USA is alive and well.

Yeah I'm not listening to the financial experts. The party is over. Time to stop doing coke and banging hookers.