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Hi King Dan of Great the 1st

We've defaulted on our debt before. 1862, 1933, 1968 and 1971. It's certainly a rare event and one that should not be taken lightly. We will default on our debt in just a few months, if a new debt ceiling cannot be agreed upon by the legislature. When that will be is going to depend on the negotiating and wrangling of the people involved, but it could come fairly soon.

Janet Yellen, Treasury Secretary, does have the ability to 'pay' or 'hold off' on some payments that could allow us to stretch out the actual event of default for, I think I read, 3-4 months.

God bless,
Ted
 
Not sure who benifits from all that spending as i don't really see much prosperity in countries and most peoppe just broke and miserable. So much debt and the infrastructure is still in the stone age. Could have had like 1000 more hospitals.
 
miamited said:
Hi King Dan of Great the 1st

We've defaulted on our debt before. 1862, 1933, 1968 and 1971. It's certainly a rare event and one that should not be taken lightly. We will default on our debt in just a few months, if a new debt ceiling cannot be agreed upon by the legislature. When that will be is going to depend on the negotiating and wrangling of the people involved, but it could come fairly soon.

Janet Yellen, Treasury Secretary, does have the ability to 'pay' or 'hold off' on some payments that could allow us to stretch out the actual event of default for, I think I read, 3-4 months.

God bless,
Ted
Click to expand...
What happens when we default as a nation? If I default on my car loan, the lien holder repossesses my car and sells it to recover what it can. If I default on my home mortgage, the lien holder repossesses my home and does the same.
 
All that spending and you like we'll show me the upgraded schools and new hospitals and subways. The peoples cash so time to show the results.

Oh that's right, a hospital probably needed a new door so that was 25 million.
 
HI WIP
WIP said:
What happens when we default as a nation?
Click to expand...
Then our ability to borrow becomes even more expensive. Our bonds won't be seen as stable as they have always been believed to be. There really isn't any way of really knowing what the blowback will be over all on our economy.

God bless,
Ted
 
WIP said:
What happens when we default as a nation? If I default on my car loan, the lien holder repossesses my car and sells it to recover what it can. If I default on my home mortgage, the lien holder repossesses my home and does the same.
Click to expand...
See Greece
 
Did the government ever find out where those randomly missing trillions went?. Remember there was like a couple trillion dollars missing or something?. I guess never to be heard of again, it must be really really hard to track a couple trillion missing dollars with the most advanced intelligence in the world. Lol.

I mean , I lose my car keys and they are hard enough to find.
 
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