America Debt Default

[Bugthing]

Aren't you living in Poland now Ross? What's it like looking back at the US as an outsider now, thinking about things that no longer affect you as directly? I know how different and internationalized the European multimedia are compared to the US. It's like stepping out of a door only to find out it was a window.

[Michael Archer]

Who cares if the debt ceiling is raised? The real issue is that they spend that much in the first place.

[Descriptor]

http://finance.yahoo.com/news/SampP-downgrades-US-credit-apf-2107320979.html#mwpphu-container

 

Whelp, we're boned.

[Moocow]

Who cares if the debt ceiling is raised? The real issue is that they spend that much in the first place.

 

No, it isn't. If the debt ceiling isn't raised, then we default on our debts, meaning that much government assistance is going to be impeded.

 

Perhaps it won't affect you, but there are people who need that assistance.

 

In fact, Republicans simply forced the issue at the least opportune time.

 

"We'll get to it, but just wait for ten seconds so we can get this debt ceiling raised, then we'll talk about it."

[BTGBullseye]

In fact, Republicans simply forced the issue at the least opportune time.

 

"We'll get to it, but just wait for ten seconds so we can get this debt ceiling raised, then we'll talk about it."

What are you meaning by that? The Republicans wanted to raise the ceiling a little bit to hold off the default, but without any of the additional crap the Democrats were trying to force into the legislation.

[J.C.]

And now, the US credit rating has been downgraded from AAA to AA+, and all hell is breaking loose. Oh boy. I just saw 5% of my life savings (which are invested and not easily retrievable) go up in smoke, with another... mhmm.... I'm guessing 5% this week to follow suite.

 

Well... It's long term investment. I just hope there is a long enough term ahead for it to recover.

[Doom Shepherd]

The funny thing is, from all the talk about "drastic cuts" that we keep hearing about, there will be no actual drop in spending.

 

In Washinton, "cuts" really means "reduction in future spending increases."

 

"2 trillion in cuts over 10 year" doesn't mean "the debt now is 14 trillion, and it will shrink to 12 trillion by the end of the decade"

 

It means "instead of spending 3.8 trillion every year for the next ten years like we planned, we're only gonna spend 3.6 trillion every year. The fact that we'll only be TAKING IN 2.5 trillion is irrelevant. SUCKERS!!!"

[\\Vincent Vega]

Our country is going to hell

OBV