So what exactly happens if the US doesn't raise the debt ceiling

Started by Razgovory, July 07, 2011, 03:17:15 PM

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CountDeMoney

#45
July 10, 2011, 08:52:23 AM
Quote from: KRonn on July 09, 2011, 04:40:01 PM
I really think that the legislators will come to agreement before too much damage is done. This is getting pretty insane, this brinksmanship, risking pretty huge stakes in damage to US financial standing, and our esteemed great ones in the government certainly have to realize that, right??   :unsure:

Republicans seem quite content on continually walking out.

MadImmortalMan

#46
July 10, 2011, 03:26:04 PM
Quote from: Admiral Yi on July 09, 2011, 06:25:30 PM

3.  You left out the possibility suggested by Joan: the debt limit is not raised and Obama decides to stiff retirees to pay debt service.



That's already happening. Treasury has plundered the g fund in the last two months.
"Stability is destabilizing." --Hyman Minsky

"Complacency can be a self-denying prophecy."
"We have nothing to fear but lack of fear itself." --Larry Summers

Razgovory

#48
July 10, 2011, 03:43:53 PM
It's where they get the money to buy those strings.
I've given it serious thought. I must scorn the ways of my family, and seek a Japanese woman to yield me my progeny. He shall live in the lands of the east, and be well tutored in his sacred trust to weave the best traditions of Japan and the Sacred South together, until such time as he (or, indeed his house, which will periodically require infusion of both Southern and Japanese bloodlines of note) can deliver to the South it's independence, either in this world or in space.  -Lettow April of 2011

Raz is right. -MadImmortalMan March of 2017

The Brain

#49
July 10, 2011, 03:44:10 PM
I haven't found the g fund yet. :(
Women want me. Men want to be with me.

Admiral Yi

#50
July 10, 2011, 03:45:04 PM
Quote from: The Brain on July 10, 2011, 03:44:10 PM
I haven't found the g fund yet. :(

I'm convinced it's a myth.  Like squirters.

Agelastus

#51
July 10, 2011, 03:47:25 PM
Quote from: Admiral Yi on July 10, 2011, 03:39:15 PM
The g fund?

A quick google produces this -

http://en.wikipedia.org/wiki/Thrift_Savings_Plan

G Fund - Government Securities fund. These are unique government securities not available to the general public and are backed by the full faith and credit of the US Government. The G Fund was the initial fund established by the TSP when it began operations on April 1, 1987.
"Come grow old with me
The Best is yet to be
The last of life for which the first was made."

Admiral Yi

#52
July 10, 2011, 03:53:22 PM
Sounds like that's the Social Security "lock box."  That's been plundered since the first penny was put in it.

What has been plundered according to what I read is some retirement fund, I think the railroad one.

Neil

#53
July 10, 2011, 03:54:42 PM
Is there much faith in the US government anymore?
I do not hate you, nor do I love you, but you are made out of atoms which I can use for something else.

Razgovory

#54
July 10, 2011, 03:57:46 PM
Quote from: Neil on July 10, 2011, 03:54:42 PM
Is there much faith in the US government anymore?

I have faith.
I've given it serious thought. I must scorn the ways of my family, and seek a Japanese woman to yield me my progeny. He shall live in the lands of the east, and be well tutored in his sacred trust to weave the best traditions of Japan and the Sacred South together, until such time as he (or, indeed his house, which will periodically require infusion of both Southern and Japanese bloodlines of note) can deliver to the South it's independence, either in this world or in space.  -Lettow April of 2011

Raz is right. -MadImmortalMan March of 2017

The Brain

#55
July 10, 2011, 04:00:12 PM
You gotta have faith.
Women want me. Men want to be with me.

Agelastus

#56
July 10, 2011, 05:09:58 PM
Quote from: Razgovory on July 10, 2011, 03:57:46 PM
Quote from: Neil on July 10, 2011, 03:54:42 PM
Is there much faith in the US government anymore?

I have faith.

Just in general, or in the specific in this case?
"Come grow old with me
The Best is yet to be
The last of life for which the first was made."

Razgovory

#57
July 10, 2011, 05:21:28 PM
Quote from: Agelastus on July 10, 2011, 05:09:58 PM
Quote from: Razgovory on July 10, 2011, 03:57:46 PM
Quote from: Neil on July 10, 2011, 03:54:42 PM
Is there much faith in the US government anymore?

I have faith.

Just in general, or in the specific in this case?

Well mostly a specific case.  She's been buried in the garden for years.
I've given it serious thought. I must scorn the ways of my family, and seek a Japanese woman to yield me my progeny. He shall live in the lands of the east, and be well tutored in his sacred trust to weave the best traditions of Japan and the Sacred South together, until such time as he (or, indeed his house, which will periodically require infusion of both Southern and Japanese bloodlines of note) can deliver to the South it's independence, either in this world or in space.  -Lettow April of 2011

Raz is right. -MadImmortalMan March of 2017

Agelastus

#58
July 10, 2011, 05:26:15 PM
Quote from: Razgovory on July 10, 2011, 05:21:28 PM
Quote from: Agelastus on July 10, 2011, 05:09:58 PM
Quote from: Razgovory on July 10, 2011, 03:57:46 PM
Quote from: Neil on July 10, 2011, 03:54:42 PM
Is there much faith in the US government anymore?

I have faith.

Just in general, or in the specific in this case?

Well mostly a specific case.  She's been buried in the garden for years.

Canine faith, feline faith, or other faith?
"Come grow old with me
The Best is yet to be
The last of life for which the first was made."

mongers

#59
July 10, 2011, 05:27:36 PM
Quote from: Admiral Yi on July 10, 2011, 03:45:04 PM
Quote from: The Brain on July 10, 2011, 03:44:10 PM
I haven't found the g fund yet. :(

I'm convinced it's a myth.  Like squirters.


:hmm:
"We have it in our power to begin the world over again"
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