REPORT ABUSIVE REPLY
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Message Subject
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***United States set to default on debts***
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Poster Handle
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Anonymous Coward |
Post Content
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The top White House economic adviser warned lawmakers Sunday that the United States faces a catastrophe if Congress does not raise the debt ceiling, as spend-averse Republicans indicated they'd be willing to support the increase so long as certain conditions are met. [ link to www.foxnews.com] We haven't seen it this serious since 1933!!! The United States quite clearly and overtly defaulted on its debt as an expediency in 1933, the first year of Franklin Roosevelt's presidency. This was an intentional repudiation of its obligations, supported by a resolution of Congress and later upheld by the Supreme Court. [ link to spectator.org] Eventually there will be no choice but to default. Quoting: RazorsEdgeSee what happens dumicrats when you just print money!!!!! Blame all Democrats!!!! Maybe Obama, Timmy Geithner, and Bernanke just wont pick up the phone when the debtors start calling! Will China hire a debt collection agency to collect???/
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