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Fri Oct 4, 2013, 07:36 AM

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, 1043 views

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Response to LiberalLoner (Original post)

Fri Oct 4, 2013, 07:41 AM

1. I guess there are people who will buy this sort of dangerous idiocy.

..

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Response to ananda (Reply #1)

Fri Oct 4, 2013, 07:48 AM

5. They're saving the country!

They think......

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Response to LiberalLoner (Original post)

Fri Oct 4, 2013, 07:42 AM

2. Sounds like she wants us downgraded again

She must have shitty credit with that sort of thinking

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Response to LiberalLoner (Original post)

Fri Oct 4, 2013, 07:45 AM

3. Is "some woman" a member of congress...

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

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Response to DonViejo (Reply #3)

Fri Oct 4, 2013, 07:48 AM

4. I tuned in in the middle and never heard or saw her name or position, I am sorry. I was

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

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Response to maddezmom (Reply #7)

Fri Oct 4, 2013, 08:13 AM

9. Thank you so much!!!

I sure do appreciate it!

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Response to LiberalLoner (Reply #9)

Fri Oct 4, 2013, 08:17 AM

10. You're welcome.....she is a RW'er. Check out her book summary

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Response to maddezmom (Reply #10)

Fri Oct 4, 2013, 08:20 AM

11. I like reading the one star reviews of her book. She is obviously an Ayn Rand cultist. Thank you.

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Response to DonViejo (Reply #3)

Fri Oct 4, 2013, 08:27 AM

15. She doesn't appear to be with the government in any way...

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.

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Response to LiberalLoner (Original post)

Fri Oct 4, 2013, 07:59 AM

8. There's no requirement that we pay the military bills



So, yeah, g'luck with that.

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Response to LiberalLoner (Original post)

Fri Oct 4, 2013, 08:22 AM

12. 'Plan'. Funny word you used.


Stop looking for heroes. BE one.

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Response to LiberalLoner (Original post)

Fri Oct 4, 2013, 08:24 AM

13. I guess that's how capitalism works now days.

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Response to LiberalLoner (Original post)

Fri Oct 4, 2013, 08:25 AM

14. You don't default if you pay your interest.

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

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Response to LiberalLoner (Original post)

Fri Oct 4, 2013, 08:33 AM

16. This is what Warren Buffett said on "Squawk Box"

"If 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.

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Response to LiberalLoner (Original post)

Fri Oct 4, 2013, 09:31 AM

17. She's delusional

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

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