Wouldn't default necessitate deeper cuts and sacrifices by all

[abelenkpe]

Including the wealthy after our creditworthiness is trashed?

[dkf]

1. Yep.

[pnwmom]

2. Yes. The government would have to pay higher interest rates, which would worsen the deficit.

Everyone would suffer, but especially those who depend on government services.

[Lasher]

3. Teabaggers want everybody to sacrifice but them.

They expect Obama to somehow keep all of the programs going that they like and none of the ones they don't like. And if he doesn't prioritize exactly as they wish, they will blame Obama. Nevermind that there is no teabagger consensus about what this prioritization should be.

[Indykatie]

6. Idiot TeaBaggers Haven't Figured Out that Default Would Hit Them Just as Hard n/t

[Lasher]

11. They are killing the goose that laid the golden eggs.

Thinking they will find tax cuts inside.

[nadinbrzezinski]

4. Yep... defaults are not fun

alas the people pushing for this either do not get it, or WANT IT... to push their agenda.

Potentially it will unleash forces they will not understand or control

[jwirr]

9. Nadin years ago when Mexico was in danger of default and there

was talk of forgiving their debt - did they actually default? Was their debt forgiven? Probably in the 80s, I don't remember the whole thing just little bits. Was going to google the events of that time if they did defaulted.

[nadinbrzezinski]

10. They did default

and we sent in a rescue package that brought... surprise surprise, austerity. it also prepared the way for NAFTA, which now that I think about it, would have never passed if Mexico was not pushed there, and we did not send in the rescue packet. That happened under Clinton.

[jwirr]

12. Thank you. That is what I thought happened. I need to do some

reading on this.

[Indykatie]

5. We All Would be Impacted and at Risk

I'm sure we would figure out how to pay the seniors' SS and military personnel pay. The negative impact extends beyond these 2 obvious groups as you have noted. My mix of stocks in various plans lost roughly 5% last couple of weeks and that included a 30% bond allocation. The stock market hit would hit a wide range of folks since most of us have at least some exposure via 401K plans.

[liberal N proud]

7. It would be a republican dream

Cutting the government to the bone, leaving only their function and the military.

[Maru Kitteh]

8. And that, is EXACTLY what they want. nt