ST Alpha - "let me get this straight the "debt crisis" is more or less self inflicted right?" (Reading a Post)

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let me get this straight the "debt crisis" is more or less self inflicted right?

Posted by Danedukenuuk Jul 30 '11, 19:55

i mean the world bank or the IMF or any other has not said anything yet right?

and the rating is stil AAA or whatever they are called right?

Responses:

Yes, it's a completely arbitrary date that the Administration set, based on when Congress traditionally takes a break. -- nm - Strongbad Jul 31, 07:58
ok here is the plan - Danedukenuuk Jul 30, 20:27
Totally. -- nm - mara Jul 30, 20:04
Yes. We put the cap on ourselves. No one else has told us we can't borrow more. -- nm - Dano Jul 30, 19:59 8
- Right, but if a default does occur, interest rates across the board would go up, making things cost more - Beryllium (iPhone) Jul 30, 20:04 5
  - Even if we don't raise the debt ceiling by next week, we still wouldn't default. -- nm - Dano Jul 30, 20:07 4
    - And if soldiers go unpaid, what then? How long before desertions start? - Beryllium (iPhone) Jul 30, 20:14 2
      - No, no, the national parks are the go-to newsreel for government shutdowns. -- nm - Ender Jul 30, 21:26
      - Didn't say that there wouldn't be consequences, just not an actual default. -- nm - Dano Jul 30, 20:18
    - No, the Treasurey would "exhaust its borrowing authority." Just because it's not an actual default doesn't mean it won't suck. -- nm - mara Jul 30, 20:09
- Also, we've already passed the budget that is going to require us to raise the debt ceiling. -- nm - Dano Jul 30, 20:00 1
  - Sure, but they knew that passing that budget gave them leverage. They could now require certain things. "We'll vote to raise the debt ceiling IF..." -- nm - mara Jul 30, 20:06

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