ST Alpha - "Yes. We put the cap on ourselves. No one else has told us we can't borrow more. -- nm" (Reading a Post)

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In response to "let me get this straight the "debt crisis" is more or less self inflicted right?" by Danedukenuuk

Yes. We put the cap on ourselves. No one else has told us we can't borrow more. -- nm

Posted by Dano (aka dano) Jul 30 '11, 19:59

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Responses:

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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