Obama Secretly Signals Banks: 'No Default

Very strange indeed. this post will will be an all in one so as to save time. and also search brought nothing up

Source

"They also know they can pay the debt with cash on hand," this official told FOX Business. The Treasury collects around $2 trillion in tax revenues, and is scheduled to pay out $200 billion in interest to bond holders. In order to meet its obligations to contractors, social security recipients and others, the administration would have to raise another $1 trillion either through cuts, higher tax revenues, the issuance of debt or a combination of all three.

So it appears this threat of SS checks not going out is false, and merely an attempt to force Republicans to make a move, since Obama has no plan at all.

Then you have this tidbit from Mr. Carney

basically telling fox news to tell its viewer there's nothing to worry about

Vid Source

Couple that with: Obama misappropriates the Gipper to justify tax hikes

Washington Post

For the past few years, liberals have tried various ways to appropriate Ronald Reagan’s legacy. The latest sad attempt has been to enlist the Gipper to defend the notion that the only way to deal with the debt-ceiling crisis is to impose a trillion dollars of new taxes. “I find myself these days quoting Ronald Reagan,” said Sen. Barbara Boxer, California Democrat

And of course straight from the horses mouth, Our president actually has no plan:

Or the lack thereof. After bobbing-and-weaving for nine minutes, Carney finally says what everybody knows: the president won’t put his plan on paper because he doesn’t want it to become “politically charged” before a compromise can be reached. In other words, you’ve got to pass it to find out what’s in it:

Source


So what should we believe?

annnnnnnnnd discuss





[Mod Edit - all caps in title to lowercase]

If there was going to be a default 10 years bonds would be in 10 - 15 percent range at minimum. We are still at a normal 3 percent.

finance.yahoo.com...

Originally posted by Kingbreaker

So it appears this threat of SS checks not going out is false, and merely an attempt to force Republicans to make a move, since Obama has no plan at all.

... Our president actually has no plan:

Ah yes, classic, no surprise here.

He is shouting out "COME ON! COME ON!"
..while whispering "hold me back, hold me back"

reply to post by Anonymous Avatar


I know we wont default, and even if we did, most of this debt is between the the treasury and the fed, the most we would actually have to pay back, would be to what we owe to china, japan, and a few other countries

reply to post by Alxandro


hahaha, I need to see the original context of that picture... why would his jacket be like that, unless he really was "bucking up"

I would say this whole thing has become a mountain of garbage neither side had ever meant to build it into. The longer it's gone on though, the deeper both sides have dug in and the more impossible it's become to compromise or negotiate in good faith either direction.

I believe the markets and rest of the world are confident there is some secret back-up plan to save the day at the last moment, no one is reacting despite how close we are to a cliff right now. They may very well have such a plan too. I just don't feed into their ego-maniacal view of their own importance and infallibility. We're so close to the edge of the abyss right now by coming within days of default, one miscalculation by either side could easily push this mess beyond the magic date.

It's a catch-22 for all of us, I think. No one wants huge cuts and tax hikes, but without both, collapse of our whole system will only be delayed a year or two by what is done this week. No one is even discussing the underlying issues dropping over 100 TRILLION dollars of liabilities into the U.S. budget (on the debt side) over the next couple decades.

reply to post by Kingbreaker

I know we wont default,

How do you know america wont default? sources please.

He won't default....on payments to the bankers.

As for the paychecks to service members and social security recipients (who paid into the system), well, that's a different story.

It's all a facade. Let's put it to you guys this way:

Your credit card is maxed out, so you call your credit card company and tell them to raise your limit another $2000.00 dollars, and you will pay them back with your tax return at the end of the year.

While TPTB aren't laughing like the credit card company will.

Seriously, this country is broke. We have to make a new law that says we can spend more, because we've already spent what we have.

The answer? Trim. Cut back. Starting with the salaries of the federal employees, explicitly, the lawmakers.
Cut back, or it will all fall apart.