Experts : 4 days left for a debt deal after that, default chances skyrocket

Myth-Busting the Debt Limit
By Heritage Foundation :: 211 Views :: National News, National Politics


"there will not be a default on the Federal debt when the Treasury reaches the statutory limit on its borrowing of $14.294 trillion. The Treasury just will not be able to borrow any more money. The Treasury would still pay debts that come due, putting off temporarily payment of less important obligations as necessary to pay the maturing debt."

[link to www.hawaiifreepress.com]

experts = shills for the british banksters

"putting off temporarily payment of less important obligations as necessary to pay the maturing debt" = bye bye AAA

the debt limit was reached weeks ago by the way. the new Aug. 2 deadline is DEFAULT

Mandatory government spending eclipses US 2011 federal revenues

[link to news.helium.com]

"Even if we were to spend every dime of federal revenue on mandatory programs (Medicare, Medicaid, Social Security, and the like), we would still have a $20 billion deficit. When you add in interest payments on the debt ($207 billion), we would have a $227 billion deficit. That’s even if we didn’t spend anything at all on discretionary programs, the category of spending that includes homeland security, interstate highways, national parks, and, of course, national defense."

[link to www.weeklystandard.com]

This debt rating deal. Pfft. Not a TEOTWAWKI event. (in and of itself)

BUT, if the FED raises interest rates, or higher interest rates are demanded by the buyers, that could cause our interest payment to increase and futher reduce the purse.

The fix: Cut everything. Every line item. Military included. 25%. INCLUDING the entitlements. Oh, and stop foriegn aid and subsidies until we have a surplus. This with a balanced budget amendment.

See...fixed!

let it collapse, what the hell does government do for anyone? they just decide what freedoms you can have and tax the shit out of us..the roads, schools, almost everything is failing in disrepair..yet these bozos constantly want more to do less.

Belgium has been without a government after its failure for over a year and they don;t even notice the effects..Government has done NOTHING for me or you.

Both ridiculous parties have campaigned for decades on deficits and taxes, but somehow we have a deficit and soaring taxes..

Politicians, create the mess then try to convince you that the only way to correct it to elect the same damn fools that caused the problems in the first place.

none of the criminals in office even talk of stopping the 6 ridiculous wars we are engaged in, none of which we can afford.. I'm asked to give more, accept less so that they can continue their immoral wars for resources.

they can KISS MY ASS

The Us in in $87 trillion dollars of debt, when all the dollars in existence is less than $9 trillion.

Mathematically, these idiots in Washington are just fukin stupid and anyone that thinks ANYTHING they do is going to fix this is as STUPID as they are.

How much money exist in the world:
[link to money.howstuffworks.com]

you are finaly get close to the truth. if they don't raise the det ceiling.........thennnnnnn.....we have 100 passangers with a life boat that only holds 56.......meaning
we only have revenue to pay for just over half our shit and will not pay 44% of budget. they will pass it cuz they have too,buttttttttttt.......your going to get it rammmmmmmed down your throat at the last minute or even second.

This entire mess of debt based, fiat currency began with the money changers.

Money Is Debt

Watch the first 5 minutes your eyes will light up with understanding. Your rage will boil. You will hate bankers

same pattern as all the other crappy bills they rush threw without reading