What's the worse case scenario if we don't raise the debt limit?

That's what we've had to do here. It hurts, but is necessary.

 

Sounds good, but not the simple so it but can't happen.

 

It can and should happen.

 

Can too!
Can not!
Can too!
Can not!
Can too!

(Maybe the mods should close this thread.)

 

I have already suggested that. Drives me crazy when someone will not actually debate facts, but just want to have the last word...I actually like discussing these topics intellectually, not just getting into a kindergarten level back and forth..

 

I agree. I don't see anyone else chiming in that we can't solve this problem except on stubborn poster without a real argument and with dubious statistics.

 

I wish it could happen but it cannot. We are too deep in debt and there is no way to fix the debt without killing the patient. We will default and we will lose just about everything we have in the near future.

 

No, it most certainly can happen. You cannot argue with math. You might as well argue that the law of gravity is based on opinion.

 

Just because math shows a way to do something does not mean it is possible with the end result one might be seeking. Thus what looks possible on paper is impossible in real time. This is the case with the debt. It cannot be fixed and we will default in the near future and lose just about everything.

 

How about a date? Before the next Presidential election in November 2012?

When in the near future?

 

I wish I knew, but I don't. I seriously doubt at the current rate of debt growth we can remain as the nation we have been for another 10 years at best. I would guess much less.

 

That was done right after 9/11. It's seems the laws of gravity and physics are indeed based on opinion. :smilewinkgrin:

 

The math also shows that it can be done in real time. So try again.

At 400 billion per year (the amount of surplus we could have, if we instituted an economic recovery plan such as I have suggested) it would take about 32 years to pay off the debt.

So yes, it works in real time, too.

 

concur. my math prof once told me math is a perfect science.

 

By the way your math is flawed. It is 36.25 years using your numbers above as we are now at 14.540 trillion and growing rapidly http://www.usdebtclock.org/ . It does no good to kill the patient to save the leg. It will not work. Just because you can come up with numbers does not mean the numbers can be done. Trying what you are saying would destroy the economy and to even entertain it is possible to make all those cuts and keep them for 36 plus years is insane. We are too far in debt to fix it and we will default in the near future and lose just about everything.

 

We're going nowhere. I don't think I ever got an answer to a simple question. Instead, we just hash and rehash stuff that had been hashed to death already.

If there's a new discussion to be had, have at it.

Reprise the theme song and roll the credits.

 

here is some new data;
It Is Now Mathematically Impossible To Pay Off The U.S. National Debt

http://theeconomiccollapseblog.com/...y-impossible-to-pay-off-the-u-s-national-debt

 

We're going nowhere. I don't think I ever got an answer to a simple question. Instead, we just hash and rehash stuff that had been hashed to death already.

If there's a new discussion to be had, have at it.

Reprise the theme song and roll the credits.


(This time, I mean it) :laugh: