Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Ichingcarpenter

(36,988 posts)
Sat Oct 12, 2013, 03:51 AM Oct 2013

Onion guide to debt ceiling and 'Are we fucking stupid?"

The Treasury Department has warned that the continued failure by Congress to raise the debt ceiling would leave the United States unable to pay all of its bills and may force the country to default on its government bonds. Here are some helpful answers to the most common questions about the debt ceiling crisis:

What is the debt ceiling?

The debt ceiling is a specifically defined yet changeable clause in official federal legislation that ensures that our country becomes embroiled in maddening, childish theatrics every few months or years.

How high is the debt ceiling now?

Just like normal ceiling height.

When will we hit the debt ceiling?

On Thursday, Oct. 17 at precisely 5 p.m. Eastern time, when the nation’s $46 billion cable bill comes due.

What happens if the government defaults on its debt?

The United States will lose the credibility and respect we incorrectly assume other nations still hold toward us.

How would a government default affect the economy?

Picture a cake, small crumbs of which fall off during each slice, or transaction, whenever money is lent to institutions from the Federal Reserve. It is a thick, rich sponge cake with icing. The icing is the American people.

How would a government default affect me?

It’s always about you, isn’t it? Prick.


more: http://www.theonion.com/articles/the-onions-guide-to-understanding-the-debt-ceiling,34177/



ARE WE FUCKING STUPID?






I thought these two items fit together.











10 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Onion guide to debt ceiling and 'Are we fucking stupid?" (Original Post) Ichingcarpenter Oct 2013 OP
The Onion is fucking brilliant! longship Oct 2013 #1
What do Republicans want in exchange for raising the debt ceiling? Flying Squirrel Oct 2013 #2
Oh yeah, THAT'S what they want...... socialist_n_TN Oct 2013 #6
Our economy is something man made. glowing Oct 2013 #3
For now I'd settle for more people understanding that owning an arsenal of weapons Snake Plissken Oct 2013 #4
The only debt there is, is that debt we owe to each other Ichingcarpenter Oct 2013 #5
And that's the reasons, Keynes and Keynesians aside,........ socialist_n_TN Oct 2013 #7
Further, it is a pyramid scheme - TBF Oct 2013 #8
I would say we are a bit more "feudal-like" instead of glowing Oct 2013 #9
"one hell of a mess is what it is" TBF Oct 2013 #10
 

Flying Squirrel

(3,041 posts)
2. What do Republicans want in exchange for raising the debt ceiling?
Sat Oct 12, 2013, 05:17 AM
Oct 2013

What do Republicans want in exchange for raising the debt ceiling?

Reasonable solutions to create an affordable, private, cost-effective health care system, a renewed emphasis on the entrepreneurial spirit that makes this country so great, long-term investments in our economy and infrastructure to build a stable and sustainable middle class, and a return to constructive political discourse.


 

glowing

(12,233 posts)
3. Our economy is something man made.
Sat Oct 12, 2013, 06:18 AM
Oct 2013

Once more people understand that; maybe we could sanely move forward in some manner that doesn't continue gutting the earth of its resources.

Snake Plissken

(4,103 posts)
4. For now I'd settle for more people understanding that owning an arsenal of weapons
Sat Oct 12, 2013, 07:15 AM
Oct 2013

doesn't make their penis larger.

Ichingcarpenter

(36,988 posts)
5. The only debt there is, is that debt we owe to each other
Sat Oct 12, 2013, 07:15 AM
Oct 2013

The world is being taken over by a handful of business powers who dominate the natural resources we need to live, while controlling the money we need to obtain these resources. The end result will be world monopoly based not on human life but financial and corporate power.

The fact is, efficiency, sustainability, and abundance are enemies of profit. To put it into a word, it is the mechanism of scarcity that increases profit.



socialist_n_TN

(11,481 posts)
7. And that's the reasons, Keynes and Keynesians aside,........
Sat Oct 12, 2013, 10:59 AM
Oct 2013

we'll never have all of those "enemies of profit" under capitalism.

TBF

(32,098 posts)
8. Further, it is a pyramid scheme -
Sat Oct 12, 2013, 10:26 PM
Oct 2013

as is capitalism itself.

I wish more folks would clue in and demand better.

 

glowing

(12,233 posts)
9. I would say we are a bit more "feudal-like" instead of
Sat Oct 12, 2013, 10:52 PM
Oct 2013

Capitalistic... Plus insulation by govt.. It's just one hell of a mess is what it is.

Latest Discussions»Retired Forums»Socialist Progressives»Onion guide to debt ceili...