View Poll Results: How Bad Could it Be?

Voters
33. You may not vote on this poll
  • Dems cave in again, allowing the debt to be used as a political tool

    5 15.15%
  • Landslide election for one side in 2014

    8 24.24%
  • Republican rebellion forces Boehner down

    4 12.12%
  • House impeaches Obama

    4 12.12%
  • Economic slump

    9 27.27%
  • Recession

    12 36.36%
  • Depression

    18 54.55%
  • Civil War

    1 3.03%
  • World War

    0 0%
  • End of USA as we know it

    1 3.03%
Multiple Choice Poll.
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Thread: How Bad Could it Be? (Shutdown/Debt Limit)

  1. #1
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    How Bad Could it Be? (Shutdown/Debt Limit)

    Given the trajectory our country is, I ask you: what is the worst possible development that could happen in the event that either the country defaults on its debt or President Obama unilaterally lifts the debt limit?

    Keep in mind, the former is warned to create an economic crisis, the latter a constitutional crisis.
    "Obamacare delenda est"

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    Re: How Bad Could it Be? (Shutdown/Debt Limit)

    This crisis is equivalent to all the other non crisis' called out by this failed regime. We take in $3 trillion or more in taxes and that wouldn't stop. That would continue to pay for 80% of the govts obligations. I personally think its fine to operate with 20% less and within our means for a while. It'd do the country good.

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    Re: How Bad Could it Be? (Shutdown/Debt Limit)

    You left off the 'planet splits to the core' option.


    ...and none of the above
    "The fact that we are here today to debate raising America's debt limit is a sign of leadership failure" - 2006 Senator Obama...leadership failure indeed!

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    Re: How Bad Could it Be? (Shutdown/Debt Limit)

    Quote Originally Posted by aberrant85 View Post
    Given the trajectory our country is, I ask you: what is the worst possible development that could happen in the event that either the country defaults on its debt or President Obama unilaterally lifts the debt limit?

    Keep in mind, the former is warned to create an economic crisis, the latter a constitutional crisis.
    The worst possible is hard to say. On German state radio they had a political adviser speculating an a "7 Days in May" scenario the day before yesterday. Obama did, after all, promise to keep up payments to the troops. That sounds like the worst case to me.

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    Re: How Bad Could it Be? (Shutdown/Debt Limit)

    Meh. I've seen several of these alleged "shutdowns", and am not impressed.

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    Re: How Bad Could it Be? (Shutdown/Debt Limit)

    Quote Originally Posted by Goshin View Post
    Meh. I've seen several of these alleged "shutdowns", and am not impressed.
    We have a ways to go to match the longest of them (several under Carter).
    “Offing those rich pigs with their own forks and knives, and then eating a meal in the same room, far out! The Weathermen dig Charles Manson.”-- Bernadine Dohrn

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    Re: How Bad Could it Be? (Shutdown/Debt Limit)

    Quote Originally Posted by aberrant85 View Post
    Given the trajectory our country is, I ask you: what is the worst possible development that could happen in the event that either the country defaults on its debt or President Obama unilaterally lifts the debt limit?

    Keep in mind, the former is warned to create an economic crisis, the latter a constitutional crisis.
    I voted "end of the USA as we know it" cause that would likely be the worst (throw in a little war/strife and there you have it}

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    Re: How Bad Could it Be? (Shutdown/Debt Limit)

    Ok, just in an effort to put things into perspective and propose options I’ve made some ‘back of the envelope’ calculation.

    Annual revenue = ~$2,400b
    Monthly revenue = ~$200b
    Debt = $17,000b
    Annual interest on debt = ~$415b
    Monthly interest on debt = ~$35b
    It seem obvious that our monthly revenue would cover the monthly interest thus preventing ‘default’.

    Consider further that debt = debt held by public + intragovernmental debt (SS trust fund)
    Current monthly social security payments = ~$62b

    So we take $62b from monthly revenue reimburse SS trust fund, which reduces current debt, which would then allow an additional $62b in borrowing OR not and prevent hitting the ceiling. This can occur infinitely. Will the shutdown continue and necessarily expand due to insufficient revenue, yes but default is off the table. The burden of his expansion of the shutdown would ultimately cause the public to pressure the POLs to solve it…but the global economic calamity associate with default is avoided.
    "The fact that we are here today to debate raising America's debt limit is a sign of leadership failure" - 2006 Senator Obama...leadership failure indeed!

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    Re: How Bad Could it Be? (Shutdown/Debt Limit)

    Quote Originally Posted by aberrant85 View Post
    Given the trajectory our country is, I ask you: what is the worst possible development that could happen in the event that either the country defaults on its debt or President Obama unilaterally lifts the debt limit?

    Keep in mind, the former is warned to create an economic crisis, the latter a constitutional crisis.
    I have been through 17 of these, this being the 18th. Ford 1, Carter 5, 7 Reagan, 1 under Bush the First and 2 under Clinton. These lasted anywhere from 1 to 21 days. All ended up being no big thing. In my opinion there is way too much hyperbole over this one coming from both sides.

    Fact is most Americans are going about their daily business as usual as the government being shutdown isn't effecting them. Now from the political partisan die hards, you think the world has come to an end. If our politicians in Washington would start putting country over party, then perhaps our problems as a nation could get solved. But as long as it is more important to those in D.C. to be Republicans and Democrats instead of Americans, this country will flounder and soon give up its ghost.
    This Reform Party member thinks it is high past time that we start electing Americans to congress and the presidency who put America first and their political party further down the line. But for way too long we have been electing Republicans and Democrats who happen to be Americans instead of Americans who happen to be Republicans and Democrats.

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    Re: How Bad Could it Be? (Shutdown/Debt Limit)

    Quote Originally Posted by aberrant85 View Post
    Given the trajectory our country is, I ask you: what is the worst possible development that could happen in the event that either the country defaults on its debt or President Obama unilaterally lifts the debt limit?

    Keep in mind, the former is warned to create an economic crisis, the latter a constitutional crisis.
    I think that irregardless of either option the trajectory of the USA is into "Depression." Either option leads to economic catastrophe as a future inevitability. I see the "GWBush Great Recession" was just an inevitability postponed by financial trickery. More to follow.

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