Tuesday, July 26, 2011

The U.S. will NOT default on its debt!

One sentence explanation on a U.S. sovereign debt default

Maybe two.

If there is n0 increase in the debt ceiling, the United States will not default on its debt, period!

Despite the fear mongering and misinformation emanating from the White House and Democrats, the debt service on US treasury debt would be paid and non-essential programs and departments would be the places where funding would have to be cut.

Do not listen to that man behind the curtain as he is using this debt ceiling debate purely for political gain. No more no less.

Note: The networks should be charging him for these prime time talks as these are political announcements covering absolutely no new ground.

Maybe five or six.

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1 comment :

  1. That is what debts ceiling means silly - no more spending beyond what revenue will cover. Solution increase revenue by taxing the deadbeat rich who used the money they got from Bush tax breaks, tax cuts and tax loopholes to lend to the government so they could collect interest instead of paying taxes in the first place. It is all basic and simple accounting. Increase revenue by increasing taxes and decrease spending by closing the National Parks and stuff like that. If you touch pensions or social security then you cannot close down the National Guard or there will be rioting in the streets the local police will not be able to handle so increasing taxes on everything, especially for the deadbeat rich is the way to go, or no credit check loans will seems the only friends. Putting stimulation money in the pockets of the working class in increments that will not cause them to take time off will do more for business than giving it to business. Etc. etc. etc.