Socialist Progressives
Related: About this forumOnion 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 nations $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?
Its always about you, isnt 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.
longship
(40,416 posts)R&K
Flying Squirrel
(3,041 posts)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.
socialist_n_TN
(11,481 posts)SURE they do!
glowing
(12,233 posts)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)doesn't make their penis larger.
Ichingcarpenter
(36,988 posts)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)we'll never have all of those "enemies of profit" under capitalism.
TBF
(32,098 posts)as is capitalism itself.
I wish more folks would clue in and demand better.
glowing
(12,233 posts)Capitalistic... Plus insulation by govt.. It's just one hell of a mess is what it is.
TBF
(32,098 posts)that's for sure!