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Whats the worst case scenario if we don't raise the debt limit?

Discussion in 'Political Debate & Discussion' started by Havensdad, Jul 24, 2011.

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  1. Havensdad

    Havensdad New Member

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    Well, I have yet to see any numbers that refute mine. It seems clear that the debt can be paid down, and the budget balanced. We must live within our means.
     
    #21 Havensdad, Jul 26, 2011
  2. freeatlast

    freeatlast New Member

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    We are at war and you can deny it all you want. As for the numbers just because you might come up with numbers does not mean the numbers can be done. In this case they cannot as it would take 30 to 50 years of constant cuts and that is not going to happen so it is impossible to do with the debt we have and we will default in the near future and lose just about everything we have.
     
    #22 freeatlast, Jul 26, 2011
  3. freeatlast

    freeatlast New Member

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    #23 freeatlast, Jul 26, 2011
    Last edited by a moderator: Jul 26, 2011
  4. TomVols

    TomVols New Member

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    I'll ask again: are you (a) treating SS as cash or accrual, and (b) as a long-term or short-term obligation?
     
    #24 TomVols, Jul 26, 2011
  5. Havensdad

    Havensdad New Member

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    This article is horribly inaccurate. That is just not how money works. When we pay 300 billion on our debt, the money does not dissolve. It gets recirculated back into the system. So the total amount of money only has to be a fraction of the total debt, in a scenario where the money is paid back over time. And the idea that EVERY 100 dollars has 1000 dollars lent out on it, is also horribly inaccurate. This is theoretically possible, but that does not mean it is actual.

    So once again, the math shows it is NOT impossible to pay off the debt.
     
    #25 Havensdad, Jul 26, 2011
    Last edited by a moderator: Jul 26, 2011
  6. Havensdad

    Havensdad New Member

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    Treating it as cash, and as a short term obligation. We are speaking here strictly in terms of yearly income vs. expenditure.
     
    #26 Havensdad, Jul 26, 2011
  7. freeatlast

    freeatlast New Member

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    Your numbers cannot be done. The debt is too great to pay off and the deficit is adding to it at an alarming rate. In the near future we will default and lose just about everything we have.
     
    #27 freeatlast, Jul 26, 2011
  8. Havensdad

    Havensdad New Member

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    Again, I am going to ask you to quit speaking in terms of simple negation for the purpose of getting the "last word." I have laid out specific numbers showing how the debt can be paid down. It is possible. You need to address these with facts and figures, per the OP, or get out of this thread.
     
    #28 Havensdad, Jul 26, 2011
  9. freeatlast

    freeatlast New Member

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    I am addressing them. Your numbers will kill the patient. it is impossible to fix the debt and we will deafult in the near future and lose just about everything.
     
    #29 freeatlast, Jul 26, 2011
  10. Havensdad

    Havensdad New Member

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    No, you are not. I presented specific facts and figures. The OP specifically requires you to respond in like manner. I have showed that mathematically my numbers will work.

    Quit trolling, or I am going to have to report you.
     
    #30 Havensdad, Jul 26, 2011
  11. freeatlast

    freeatlast New Member

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    Go ahead. I gave a response and you do not like it. Your numbers are bogus and cannot be carried out. If we made all those cuts then we would wreck the economy. It is impossible to bring home the military as we are in a war and it would just come here. If you cut all that money that you propose from SS they would just go on some other relief program unless you are suggesting to let them die. The debt cannot be fixed and we will default and lose just about everything in the near future.
     
    #31 freeatlast, Jul 26, 2011
  12. Havensdad

    Havensdad New Member

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    The OP of the thread specifically requires facts and figures to back up your statement. If you want to keep saying "Uh-uh" you need to go start your own thread. You are derailing mine, and trolling besides, which is, I believe, against the rules.

    The debt can be fixed, as my numbers have shown. I have already shown that the money from SS would only come from WEALTHY individuals...so they would not qualify for any other assistance.

    Again, the debt can be fixed. QUIT derailing my thread, please.
     
    #32 Havensdad, Jul 26, 2011
  13. freeatlast

    freeatlast New Member

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    My apologies.
     
    #33 freeatlast, Jul 27, 2011
  14. billwald

    billwald New Member

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    From post #5

    >From the article:

    >In other words, if the federal government started taxing the wealthy and their corporations at the same rates in effect a half-century ago, the federal debt to investors would almost totally vanish over the next decade.

    >LOL! The reality is that if taxes reverted to the rates of the 1960's the corporations and the wealthy would vanish--the corporations to India and Mexico and the wealthy to the Cayman Islands.

    The USA is big enough to go it alone. We don't need the wealthy. We need manufacturing jobs. a 20% import duty on all manufactured consumer goods would bring the jobs home.

    Yes, for the first few years people would stop buying stuff they don't need. Our only important exports are raw materials, agricultural products, and war machinery. (Every GI over seas is either an export or foreign aid gift. We are like the Hessian government that leased troops to King George.)
     
    #34 billwald, Jul 27, 2011
  15. corndogggy

    corndogggy Active Member
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    Worst case? Zombies. That, and cats and dogs living together.
     
    #35 corndogggy, Jul 29, 2011
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