Worried about what is NOT in the mainstream news about looming debt default

I have noticed that for the past few days or more there has been very little to no discussion anywhere on the possible US default on debt. Instead lots of focus on the border and the border has overridden any mention of the looming default crises. WHY?

Debt default would mean payments to Social Security, Medicare, Medicaid state assistance, Veteran care and assistance, Government employees salaries, all federal retirement benefits may cease immediately. People who this is their only form of survival.

Then there are the many businesses that would go bankrupt overnight who have government contracts, and the surrounding businesses that exist because of those with government contracts (even down to food trucks who feed employees) and the repercussions extending to the possible if not probable, economic collapse of the entire US.

With the US ending up like Venezuela, broke, with millions upon millions unable to buy even food. I think that ending up like Venezuela was inevitable because the Democrats have made the exact same economic socialist mistakes that destroyed a once rich country into a hell hole of abject poverty. Biden has refused to compromise with the Republicans on the bill, even going so far as to refuse to even speak to the Republicans up until last week. There has been no word in the news that Biden has done anything but completely refuse to compromise on the cuts in spending that the Republicans want to help solve the debt crises . The ever increasing debt WILL eventually lead to the economic collapse of the US if left unchecked. If I am wrong, let me know, I'll take it graciously, but I haven't seen anything that refutes this in any news outlet.

A question that has been nagging at me is: Is Biden using the border crises to hide the looming debt default? I think, no know, the border crises is real and was caused directly by Biden and Harris on purpose to bring in, as one Democrat politician said in public: gardeners, maids, and vegetable pickers. (seems this little gem of a statement has disappeared from searches, if you can find it, please post it)

But also, why has the mainstream media totally and completely ignored for days on end the looming debt default? I've been looking the past few days and it hasn't even appeared on ATS. But I have to admit, I only check ATS every other day and it could have slipped by me unnoticed.

Finally CNN had a tiny article today: www.msn.com...

US consumer sentiment worsened in May as Americans grew concerned about the economy’s direction and a potential default of the US government’s debt, according to a preliminary report from the University of Michigan Friday. The political impasse over raising the debt ceiling has dragged on for weeks and is inching closer to the day the federal government will not be able to fully meet its financial obligations. Consumers are now taking notice.

But CNN, the Democratic Party cheerleader, seems more concerned that Americans have noticed this than the fact it is looming.

I really want your opinions on this. Not snark, one liners, and condescension, please. Genuine opinions.

The other Billie says not to worry, it won't happen, I tend to disagree, especially since the issue seems to have been erased from public view for the past few days or more.

a reply to: The2Billies

The ever increasing debt WILL eventually lead to the economic collapse of the US

Pssst: That has appeared to have been the plan for quite some time now. I guess we could pretend all the things that have happened since Bush gave us the Patriot Act that started the ball rolling to bring America to its knees are just accidental repercussions that nobody thought of......

This ATS post does a nice job answering your question.

They don't WANT people to know the big story. Ever. All this other BS people tune out because it doesn't directly affect them. Their money being in jeopardy does.

They don't want an election. They can't win it. Do you see the collapse being brought on yet?

a reply to: The2Billies

Debt default is an ugly lie used to spread fear.

Congress still gets paid, amirite?

Mathematically one way or another the USA will default if they continue to raise the dept ceiling that is a fact.

The Right seems to at least pay some attention to this fact with the new bill and cutting spending but even this is a temporary Bandage for something that requires major surgery.

Perhaps like many people on ATS think this is the plan , Let it fail . One world currency will come shortly after.

originally posted by: DBCowboy
a reply to: The2Billies

Debt default is an ugly lie used to spread fear.

Congress still gets paid, amirite?

Last time it was a big deal Obama shut down monuments and parks.
But everyone still got paid.

a reply to: The2Billies

What's your problem?

Clearly you don't understand. Failed to read the "memo?"

We must only look at what the media and the gov't tell us to look at. Look at the border. Looook aaaaat the boooorrrrrdeeeerrrr ...

a reply to: incoserv

I see two compounding problems.

Millions on a system they have every intention of collapsing because they have intention of negotiating over it.

The chaos provides an excuse to try to suspend normalcy, no election. They take complete control.

But all the gov revenue income keeps rolling in right? So what then? 😎

originally posted by: shooterbrody

originally posted by: DBCowboy
a reply to: The2Billies

Debt default is an ugly lie used to spread fear.

Congress still gets paid, amirite?

Last time it was a big deal Obama shut down monuments and parks.
But everyone still got paid.

He even put orange cones on driveways and walkways going to popular places just to "git even" with People 😎

a reply to: xuenchen
Oh
The plastic bags on monuments was a big deal.
It lead to a compromise eventually.

a reply to: The2Billies

Don't know where you have been getting your news, but I've been reading, and hearing about the possibility of a debt default for at least two, maybe three, weeks.

In fact, since I handle my elderly mother's finances for her, we meet with her financial advisor during the last week of April to go over her monthly expenses and plan for alternative funding (fund transfers from her other accounts) to cover any delay of her SS check, should the default occur.


Can't have the old girl stressing out over a missed check.

a reply to: The2Billies

Default is just this fantasy projected on your television and in your media catching up to reality.

The US is illiquid and insolvent. Whatever plan they come up with will, by necessity, erase wealth. They will erase it not from those with the most, but from the pool from which the poorest and highest risk survive. This already started, accelerated in 2020. Widespread famine and destitution are the price.

There is not a single person in control that is willing or able to prevent what's coming. It's simple math and they've refused to mind the numbers, so the "=" sign is approaching at the end of this equation. It will end. There is no rewriting it now.

The bottom line is, if you have to cook the books to avoid a default... you defaulted.

originally posted by: DBCowboy
a reply to: The2Billies

Debt default is an ugly lie used to spread fear.

Congress still gets paid, amirite?

I agree!

Great OP it was written well.
Not many threads on it here right now,
I just think most people
on ATS at least know about the debt default.

I do not think McCarthy is going to push it
to much.. They have so much going on right now
they need to just find a decent solution for the budget.
With ALL THE BORDER CHINA Russia the invasion
on the border we DO NOT need a debt default crisis.
There will not be one it is doom porn do not worry OP.

Thank for the insightful posting!

a reply to: The2Billies

I haven't been looking at it in a very close way, but I believe they started 'robbing' various state pension scheme funds to make international finance obligation interest payments about a month back ...

They were supposed to have another bi-partisan session on it today but the dems kicked it out to 'next week sometime'

The amount they can keep 'temporarily reallocating' from other state funds to meet international obligations is insufficient to keep it up for much longer and it's when the default of those payments occurs that the US economy collapses because they get an automatic downgrade in global market funding (as does everyone else in America).

I said a while back to someone that I was hypothesizing that Biden would use the balance of his term to trash the entirety of the US with no remorse ... The financial collapse, The Southern (and Northern) border crises' and War or direct military Confrontation with both Russia and China simultaneously.

Then if the Republicans win the election there's no way they can salvage the nation without the people having to severely suffer to get it all undone ... Awful look for the Republicans (because it will take more than 1 term) and a lead-in to the next new democrap way of life (CBDC's, Digital ID, Own Nothing etc etc etc...)

originally posted by: SideEyeEverything
This ATS post does a nice job answering your question.

They don't WANT people to know the big story. Ever. All this other BS people tune out because it doesn't directly affect them. Their money being in jeopardy does.

Thank you.

does anybody know if The Treasury can still issue Bonds and Notes at this time? 😬

originally posted by: shooterbrody

originally posted by: DBCowboy
a reply to: The2Billies

Debt default is an ugly lie used to spread fear.

Congress still gets paid, amirite?

Last time it was a big deal Obama shut down monuments and parks.
But everyone still got paid.

I could be wrong but last time debt default wasn't the issue.
I clearly remember several times when the budget wasn't passed in time and the government shut down.
This is different, quite different, it is defaulting on obligations rather than a temporary shutdown awaiting passage of a bill.

As I understand it, there is NO money left in reserve to meet obligations, especially debt payments, the US is dead broke if they don't borrow more and more money every day.. I could be wrong.

One thing I do know is if the government confiscated the entire wealth of every rich US citizen, the US would only have enough money to run the government and meet debts for a very very short period of time, not even an entire month. The US is that dead broke.

Also, no one got paid while the government was shut down, they got paid after the shutdown ended in full. I know because that is what happened to government employee friends of mine.

I just read all the subpages on this website linked at the bottom of this post and I think we are all screwed.
I personally believe that the economic crash is inevitable, especially after reading through this.

I think 1 of 2 things will happen:

1: The economy crashes and government saves the day by creating a NEW digital currency to replace the old. (See the section on Weimer republic in the link below - if you dont read anything else today).

2: The economy crashes which creates a domino effect on the rest of the world and this ushers in a new 1 world currency.

either way the economy is doomed. I am starting to prepare by having a few months worth of food on hand as it will likely be difficult to source for a few months, probably moreso in the cities. Inflation is gonna get nasty.

thedollarendgame.com...