U.S. debt impasse could be 'catastrophic'

TenPenny

Hall of Fame Member
Jun 9, 2004
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It's all those social security cheques and freebies that are on the line. I can see people getting rather uppity if they don't get their freebies ... so that's not advised. Surely Republicans can understand what's what with the consequences ... ???

No,it's everthing that the gov't spends money on.
Salaries, contracts, purchasing, pensions, the whole thing.
 

JLM

Hall of Fame Member
Nov 27, 2008
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How did this problem get so serious without someone doing something long before it got to this point ... that's what I can't figure out. Were they all out golfing and playing war games while the country went down the tubes or what?

The problem got so serious because the people who are being paid to prevent it are over paid and don't give a sh*t.

Tell me something... when the sky doesn't fall down... will you still be going on and on like a bunch of school girls?



QUOTE]

I suppose to look at this thing in proper perspective, one would have to know what the assessed value of the country is. It's probably ten times $14 trillion, so maybe it's like owing $20 grand when your house is worth $200 grand. I think one solution may be to rent out Alaska for a couple of years. :lol:

They have to raise the debt ceiling ... that much is obvious to everyone. Instead of doing what has to be done, they're sitting around fighting about who is going to compromise. Don't they realize that everyone in the country is about to compromise? There is no sneaky easy way out of the mess ... no way for one to pull the wool over the other's eyes and get the better deal. It's a lose-lose situation and that's that. More should have been done to prevent this, it wasn't, they made their bed and now have to lie in it ... but they better get on with it because they're heading towards taking everyone down with them, and still no one in the US will be any better off.

Ummmmmmmmmm!!!!!!!!!!!!!!!!!!!!!!!!????????? That doesn't work domestically when you are in over your head, why would you think it would work nationally? I think it might be time for all healthy, able bodied people to cut back to two meals a day for awhile.
 

EagleSmack

Hall of Fame Member
Feb 16, 2005
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The problem got so serious because the people who are being paid to prevent it are over paid and don't give a sh*t.

That's what I'm saying. They've got no skin in the game. The worse that could happen is that they lose an election but they still are set for life.
 

JLM

Hall of Fame Member
Nov 27, 2008
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Maybe Canada needs to annex the US and sort out the problems. First order on the books ... give all the illegal aliens legal papers. Second order, fire all the politicians. Third, tax the rich. Fourth, maintain programs for the poor.

Yeah, each of those things would save a lot of money! :lol:

Ariadne; First we have Bush and his imaginery WMD and now this. QUOTE said:
I highly doubt those W.M.D.s were all that imaginery and it might have been very dangerous for him to assume that. I think they may have been buried in Syria, for posterity.
 

Just the Facts

House Member
Oct 15, 2004
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It's not as serious a problem as they're making it out to be. The worst consequence would be the U.S. being downgraded by the credit bureaus, which some say will happen regardless of the debt ceiling nonsense. That will lead to higher interest rates.

Other than that, we all know governments have a lot of areas where they could cut spending without cutting essentials, if they wanted to. Could start with those 3 hundred dollar screw drivers, and million dollar trips to europe for the 1st lady.

Obama's just insisting he get a blank cheque through the election. Lots of payouts to make, dontcha know. Gotta keep those acorn people happy. :)
 

Ocean Breeze

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Jun 5, 2005
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High Drama with no results ........continues.

Late stab at debt-limit deal to avert US default

Late stab at debt-limit deal to avert US default - Yahoo! News


Such theater. Just watched a group of smart men discuss this issue and outline at least one if not more WORKABLE, REALISTIC plan to deal with it. Evidence that steps can be taken to resolve this issue that make sense. But good sense and the populations best interest is not a factor here.

They will probably come up with an agreement at the eleventh hr. But what a childish way to get there.


******************

Hot off the press.............:roll:


Republican congressional leaders indicated Saturday afternoon they are close to reaching a deal with President Barack Obama to raise the nation's debt limit and avoid what would be an unprecedented national default.



Senate Minority Leader Mitch McConnell, R-Kentucky, said he had talked to Obama and Vice President Joe Biden this afternoon and was "confident and optimistic" that there will be an "agreement within the very near future."



A national default "is not going to happen," McConnell promised.



House Speaker John Boehner, R-Ohio, also expressed optimism that an agreement is near.

source: CNN breaking news.

......yep......the "suspense" is a killer..8O One has to wonder if there is any decision or action the americans can take without all this theater. Gotta be the worst carnival on the planet.

It's not as serious a problem as they're making it out to be. The worst consequence would be the U.S. being downgraded by the credit bureaus, which some say will happen regardless of the debt ceiling nonsense. That will lead to higher interest rates.

Other than that, we all know governments have a lot of areas where they could cut spending without cutting essentials, if they wanted to. Could start with those 3 hundred dollar screw drivers, and million dollar trips to europe for the 1st lady.

Obama's just insisting he get a blank cheque through the election. Lots of payouts to make, dontcha know. Gotta keep those acorn people happy. :)


IF they started with bringing the wars to an end , just imagine how much they would save daily. . These wars are hemorhaging the US and for what gain?? Seems only a select few profit from them.
 

EagleSmack

Hall of Fame Member
Feb 16, 2005
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It's not as serious a problem as they're making it out to be. The worst consequence would be the U.S. being downgraded by the credit bureaus, which some say will happen regardless of the debt ceiling nonsense. That will lead to higher interest rates.

Other than that, we all know governments have a lot of areas where they could cut spending without cutting essentials, if they wanted to. Could start with those 3 hundred dollar screw drivers, and million dollar trips to europe for the 1st lady.

Obama's just insisting he get a blank cheque through the election. Lots of payouts to make, dontcha know. Gotta keep those acorn people happy. :)

C'mon JTF... let them have their fun.
 

Ocean Breeze

Hall of Fame Member
Jun 5, 2005
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I think one solution may be to rent out Alaska for a couple of years. :lol:

.Now, there's a good idea. Or just sell it (to Russia maybe??) and make sure the Palin factor goes with it.;-) While putting up states for sale.......Hawaii can be sold too. Canada should buy that one.:smile: And restore it to its native culture , removing all the crap the US installed there in its commercialism.

the solutions are there......but what is needed is the creativity of the average citizen that has its finger on the pulse of the situation.
 

Ocean Breeze

Hall of Fame Member
Jun 5, 2005
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Breaking News Alert

The New York Times

Saturday, July 30, 2011 -- 10:17 PM EDT

-----



Senate Vote on Debt Limit Postponed Until Sunday Afternoon



The Senate will delay a crucial vote on the Democratic debt ceiling bill until 1 p.m. tomorrow amid growing indications that a compromise is in the works that will avert a federal default on Tuesday.



The delay averts a 1 a.m. legislative showdown in the Senate and all-night wrangling that Democrats had threatened on Friday. And it suggests that the looming deadline is working to pressure both sides toward a last-minute agreement
 

EagleSmack

Hall of Fame Member
Feb 16, 2005
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Hawaii can be sold too. Canada should buy that one.:smile: And restore it to its native culture , removing all the crap the US installed there in its commercialism.

Why don't you start by returning Canada to the First Nations if you are interested in restoring native cultures.

Other than that it is more hypocricy from you.
 

SLM

The Velvet Hammer
Mar 5, 2011
29,151
5
36
London, Ontario
I think one solution may be to rent out Alaska for a couple of years. :lol:

.Now, there's a good idea. Or just sell it (to Russia maybe??) and make sure the Palin factor goes with it.;-) While putting up states for sale.......Hawaii can be sold too. Canada should buy that one.:smile: And restore it to its native culture , removing all the crap the US installed there in its commercialism.

the solutions are there......but what is needed is the creativity of the average citizen that has its finger on the pulse of the situation.
I'm sorry but are you actually suggesting that Canada has a leg up on anyone regarding restoration/reverence to native culture??? Really? With our track record?
 

taxslave

Hall of Fame Member
Nov 25, 2008
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Why don't you start by returning Canada to the First Nations if you are interested in restoring native cultures.

Other than that it is more hypocricy from you.

Somehow i don't see the indians taking it back. Then they would be responsible for the debt and keeping the economy going. As well as dealing with Quebec. They are smarter than that.

It's all those social security cheques and freebies that are on the line. I can see people getting rather uppity if they don't get their freebies ... so that's not advised. Surely Republicans can understand what's what with the consequences ... ???

Or they could just not pay all the military suppliers for a couple of months.
 

SLM

The Velvet Hammer
Mar 5, 2011
29,151
5
36
London, Ontario
I doubt you'll get a response.
Who knows?

Sometimes I feel like a lot of Canadians behave like those parents whose own children can do no wrong. Very quick to point out how badly other peoples children behave but refusing to see the poor behaviour of their own kids. Personally, I love my kids and I'd do anything for them, but honestly all kids can be right little ****s sometimes, including my own. I pretty much hold that same view on the Americans/Canadians issue.

With regard to the OP, I see what's going on in Washington right now as a lot of political posturing and partisan bs. And in every single news clip I've seen where they have asked the opinion of people on the street in the US every one of them has uttered that exact same opinion.

Need more be said?
 

Ocean Breeze

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Jun 5, 2005
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CNN breaking news:

,,
Dow falls more than 500 points, wiping out Tuesday's comeback.



It was the latest turn in a volatile week on Wall Street as investors react to the United States losing its coveted AAA credit rating.



On Tuesday, the Dow gained 430 points after the Fed left key interest rates unchanged. The Dow plunged 630 points Monday, its worst day since the 2008 financial crisis.


I'm sorry but are you actually suggesting that Canada has a leg up on anyone regarding restoration/reverence to native culture??? Really? With our track record?

that comment has nothing to do with what I said. ( tongue in cheek, as it was)--sheesh. Don't take yourself so seriously, no one else does.
 

JLM

Hall of Fame Member
Nov 27, 2008
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CNN breaking news:

,,
Dow falls more than 500 points, wiping out Tuesday's comeback.



It was the latest turn in a volatile week on Wall Street as investors react to the United States losing its coveted AAA credit rating.



On Tuesday, the Dow gained 430 points after the Fed left key interest rates unchanged. The Dow plunged 630 points Monday, its worst day since the 2008 financial crisis.




.

Great opportunity to get rich. :lol:
 

Ocean Breeze

Hall of Fame Member
Jun 5, 2005
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a bit of good news, folks.




Farmer's Markets Spur Job Growth, New Report Finds

As the economy limps along, farmer's markets are showing record growth, and that growth could bring thousands of jobs with it.

by Leah Zerbe

The little economic engine that could: Farmer's markets spur local development and job growth. a dismal week for the U.S. economy featuring debt-ceiling drama in Washington and the threat of a double-dip recession on Wall Street, the U.S. Department of Agriculture (USDA) delivered some powerhouse statistics demonstrating the public's demand for healthy, organic food: The number of farmers markets in the country increased 17 percent in the last year. "There's a yearning for the 99 percent of Americans who are no longer connected to the farm to reconnect," Kathleen Merrigan, deputy secretary of the USDA, said


Farmer's Markets Spur Job Growth, New Report Finds | Common Dreams

(and those I do and will support with enthusiasm. )

TSX gains as U.S. markets sell off
Gold tops $1,800 US before closing at $1,784.30


TSX gains as U.S. markets sell off - Business - CBC News