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LiberalLoner

(9,760 posts)
Fri Oct 4, 2013, 07:36 AM Oct 2013

On Morning Schmoe some woman is saying defaulting on debt no big deal

She said basically it would be just fine because all we would have to do is pay the interest on the debt and the military, and nothing else. Said it would actually be a good thing because it would force us to balance the budget overnight.

Is this the new GOP talking point? Are they planning on NOT raising the debt ceiling now? Sure sounds like it to me.

She said you could tell it would not be catastrophic because the bond markets are still fine.

Jeez I really think that is their plan at this point.

17 replies = new reply since forum marked as read
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DonViejo

(60,536 posts)
3. Is "some woman" a member of congress...
Fri Oct 4, 2013, 07:45 AM
Oct 2013

someone on the street, a dog catcher? Surely she has an identity other than "some woman!"

LiberalLoner

(9,760 posts)
4. I tuned in in the middle and never heard or saw her name or position, I am sorry. I was
Fri Oct 4, 2013, 07:48 AM
Oct 2013

So alarmed that this might be the new GOP talking point of the day, I rushed here to post.

CTyankee

(63,708 posts)
15. She doesn't appear to be with the government in any way...
Fri Oct 4, 2013, 08:27 AM
Oct 2013

my guess is that she is a Wall St. commentator.

She sure is , er, "colorful" and I presume that's why she's on the show. Mika looks a little stunned.

 

randome

(34,845 posts)
12. 'Plan'. Funny word you used.
Fri Oct 4, 2013, 08:22 AM
Oct 2013

[hr][font color="blue"][center]Stop looking for heroes. BE one.[/center][/font][hr]

Barack_America

(28,876 posts)
14. You don't default if you pay your interest.
Fri Oct 4, 2013, 08:25 AM
Oct 2013

Which we wouldn't even be able to do if the debt ceiling isn't raised.

OmahaBlueDog

(10,000 posts)
16. This is what Warren Buffett said on "Squawk Box"
Fri Oct 4, 2013, 08:33 AM
Oct 2013
"If [Republicans] can't get their way on another issue, they'll use the threat of, in effect, defaulting on the government's credit to get their way," Buffett said. "That won't work long-term."

"The public will turn on them, and they'll all of a sudden have a counter revelation," he predicted—adding that Washington "will go right up to the point of extreme idiocy" but won't cross it.

Buffett did provide a glimmer of hope if the Oct. 17 debt limit deadline is breached. "If it goes one second beyond the debt limit, that will not do us in. If it goes a year beyond that would be unbelievable."


So basically, he's saying if we hit default day with no deal, it'd be OK if we can reach a deal quickly. OTOH, if no deal is reached, default would be catastrophic.

abelenkpe

(9,933 posts)
17. She's delusional
Fri Oct 4, 2013, 09:31 AM
Oct 2013

If the US actually defaults it will send the entire global economy into a tailspin. Everyone will suffer.

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