Wednesday, July 20, 2011

Debt default and denial

By Eric Ferguson, Minnesota Progressive Project

In this article about the US House Republicans finally starting to get that defaulting on the debt is bad thing, there was this paragraph that explains a lot how we got to the brink of default, and thereby a lot about the modern Republican Party:

The warnings appeared to have softened the views of at least some House members who, until now, were inclined to dismiss statements by administration officials, business leaders and outside economists that the economic impact would be dire if the federal government were suddenly unable to pay its bills.

Think about that: Republicans refused to believe they were causing history's most easily avoided economic disaster (just raise the debt ceiling or eliminate the stupid thing, and this whole problem goes away) when told this by economists across the political spectrum, only the most doctrinaire conservatives excepted (which says something about them). They wouldn't believe the Obama administration, they wouldn't believe "business leaders", who must not have been the sufficiently right wing business leaders, and they wouldn't even believe the rump realists among congressional Republicans. They would only believe one of their own who was sufficiently off to the wacky right, Rep. Paul Ryan.


  1. Keep posting this kinda partisan crap and you're gonna lose readership fast.

  2. This is all a lie! We are not going to automatically default if the debt ceiling is not raised - it would only mean the US government would have to cut the insane spending, and be responsible for the first ever. They would have to stop spending like drunken sailors. The US would not be able to dominate the rest of the world with free money. Oh damn!

    Just think about it - you have a $10,000 credit card which you just MAXED OUT. You pull a hissy fit saying you will not pay your credit card bill unless they increase your credit card limit to $20,000. So you want to pay your bill with more borrowed money????? This is outright insanity! Our government is digging our collective grave, burying us all in debt.

  3. Not insane 4:37 but rather part of the bankster's plans. The banksters run and control our federal government. They want gov and individuals in as much debt as possible. That is what they will get.

    Politicians and what they say are meaningless. They all work for the interests of the banksters not us. Yes, for 60 years now every president has been hand picked by the banksters. The last two just happen to be the most over the top examples.

    Your vote and your opinion mean nothing. You live in a facist Oligarchy. Nothing will stop their rampant greed. Like sharks in a frenzy now. The US will completely collapse soon on a scale 10x worse than the USSR.

    Time to focus on yourself. Turn off the bankster Boob tube. Time to stop caring about what the politicians are doing. That is all a done deal. Finished.

    Get into survival mode now. Too late for the USSA, it is done.

  4. At least the people reading here are smarter than the people whose articles you're posting. Not raising the debt ceiling will not result in default. It will only result in Congress having to spend what it takes in.

    4:37 has it right. That's exactly how I try to explain it to people. Most people are so dense they don't get it.

  5. I've read your blog for quite some time now and had previously appreciated the articles you were sharing. Recently you have posted some articles, like this one, that are complete and total crap and have subsequently caused me to lose quite a bit of respect for you. Please stop. I don't care for the reasoning you have behind it, just stop. 1 or 2 more articles like this and you will lose another regular visitor.

  6. I feel the same way 10:21 does, though I'm not going to stop visiting this site.

    You're attempting to impress readers by being impartial and are only succeeding to pull articles written from party democrats who deliberately lie just to defame the republicans. These kinds of people do not care about our situation, they merely seek to watch democrats win and republicans lose. (Like little children.)

    And no, I'm not for either party. There are intelligent liberals out there with genuine intentions who are after truth and not just political victory. The same way there are plenty of retards in the Tea Party along with smart people.

    Go to The Blaze and view comments to see STUPID "conservatives." Simple minded bigots who would jump off a bridge if Glenn Beck told them to. The basic mentality is to defend banks, wallstreet, greed, con artists, overgrown military, and police brutality while condemning Islam, liberals, brotherly/sisterly love, and (actual) capitalists who explain why paper money is noxious to a free market.

    The left wing exemplified by dailykos, however, is what The Blaze is to the right wing - PATHETIC!

    Writers like this follow that mindset and agenda.

  7. impartial, or slanted? many world players warn must decrease the deficit, then turn and warn must increase deficit spending now...fix it later. world now runs on can kicking ponzi spending, saying cut deficit is simply for show. think many would be shocked-the world will not end if we don't increase the ceiling, not a default, simply an END to INCREASED spending! nope, world won't end but way of profits for the order may slack off, and after a time we'd be better for it. had deficits since the 60's...wonder if it's to late for the country to pull out? temporarily raising it...haven't had a general budget for more then 2 years..see how that works. it's become a joke, we'z finished, done, cooked.
    ..assets can be sold, so can sovereignty...bit by bit


Everyone is encouraged to participate with civilized comments.