mazza 1 Posted July 26, 2011 Is this history in the making? Share this post Link to post Share on other sites
st_dux 26 Posted July 26, 2011 No, it isn't. Obama's statement that we must raise the debt ceiling or face inevitable default in one week's time is a false dichotomy designed to stir panic and put pressure on congress to do what he wants. We have more than enough money to pay the interest on the debt, which is all that is needed to avoid default. If Obama actually cared about the United States' credit rating, he'd acknowledge this fact, and he'd publicly assure us all that staying current on its debt is the country's number one financial priority. But alas, he is a politician. Down the line when we can't get any more money out of China and we're forced to inflate our way out of debt, then you'll see some history. Share this post Link to post Share on other sites
GRS 10 Posted July 26, 2011 Business in Washington as usual. See above post. Share this post Link to post Share on other sites
Beagle 684 Posted July 26, 2011 (edited) Let them raise the ceiling, that will just make them fall harder next fiscal year, and half the world will be dragged with 'em. It will happen, its just a matter of time. As soon as dthe Dollar is not bakced up by the Peoples bank of china it will radiply loose in exchange rate. In turn the debt value will also decrease...but It will look like that: http://upload.wikimedia.org/wikipedia/commons/thumb/4/41/100-Billionen-Geldschein-2.jpg/800px-100-Billionen-Geldschein-2.jpg <Do not post images over the size of 100kb> -RW Thats how germany tried to get rid of its debt after WWI Edited July 26, 2011 by RalphWiggum Share this post Link to post Share on other sites
walker 0 Posted July 26, 2011 Hi all Hint there is already a US politics thread. But as we are here, it seems like since the Republican's could not destroy the US economy the first time they are determined to do it now that control of congress has given them a second chance. Kind Regards walker Share this post Link to post Share on other sites
Guest Posted July 26, 2011 This belongs here: - USA Politics Thread Share this post Link to post Share on other sites