is the dead line, dead line. We've already moved it 4 times this year. Plus, Geitner hasn't exactly shown a proficient grasp of this financial crisis. Not to mention his questionable past. Why should we buy his latest guesstimate?
geitner is full of sheet. There is no possible way we default on our debt. We have enough in revenue to cover the 400 billion per year. Now, that might mean we have to pay our interest, and forgo some of the entitlement expenses, but we can pay our debts. If we do not pay entitlements we do not default. Besides, in the most dire circumstance we can simply print the money to pay off our debt. Any mention of "default" is just another scare tactic to make the ignorant think they are doing something. It is similar to making idiotic statements like "if we tax oil and stop jet tax breaks we can pay shrink our deficit". **** plays to dumbasses, but has no basis in fact.
so, if the deadline is bunk, why just not ignore it? Is the GOP misrepresenting the consequence of not increasing the debt ceiling in order to put pressure on Obama to accept huge spending cuts with no tax increases? Is Obama grossly misreading the importance of passing an increase to the debt ceiling, and therefore is the smart play for Obama is to do nothing and let the extension of debt ceiling wither in Congress?
Yo..both sides are trying to use Aug. 2nd as a political football. Especially with election season around the corner.
Don't raise the damn thing...these politicans need to be cut off! It's way way past the time to cut the fat! We're not going to default on anything, IF we cut spending in unnecessary areas.
we have seen this gun pointed at us before with threats like this...I think most people feel that the robber does not really have a gun this time. f it...don't raise it.
