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Are you worried about a potential, government default?

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As partisan brinkmanship threatens to derail debt-ceiling talks with the “drop-dead date” growing closer, do you think a government default may really happen? Discuss below.

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    • 8 hours ago

    We won't default, the treasury brings in 2.2T of hard earned tax revenues a year. That's enough to cover the debt interest, Social security, Medicare, the troops etc... Where the rubber meets the road will be unemployment, food stamps, student loans and other various government giveaways. It would be tough, but necessity is the mother of invention. It could force a government restructuring just like any corporation and maybe streamline government. That could be a good thing.

    As far as the dollar debasement is concerned we can all blame congress for that. The dollar has lost 97% of it's value since the founding of this version of the federal reserve in 1913. (The U.S.'s third attempt at controlling economic cycles)

    Lastly, people need to stop saying Clinton balanced the budget. I like Clinton, but his budgets were balanced because Robert Rubin borrowed the difference from Social Security. The Treasury owes 3 TRILLION dollars to the SSA. It was another example of Ivy League Theory meets Goldman Sachs implementation. As we should all know by now; Financial calamity ensues!

    22 Recommendations

    • 6 hours ago

    I hope they default and then mabe they will get serious about cutting spending and undo the damage done by nancy, Harry, and Obama's spending binge

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    • 6 hours ago

    Let's be honest. Both parties have been on a spending binge, coupled with the down economy, and you have a real problem. I would like to see drastic cuts like the rest of us have had to make. Not just lip service which they BOTH are trying to hang their hats on. This is an embarrassing quest. They should all be ashamed.

    I would say... what good is a ceiling if everytime you reach it, you move it? Sounds rediculous to me! I wish I could do that with my income. Everytime I spend more than I have, I just move up my credit limit and keep going!

    4 Recommendations

    • 5 hours ago

    I see the fear of a default as a buying opportunity for me in Treasury ETF's. And if Moody's downgrades treasuries, many funds and pension plans will be required to unload them by charter, again driving the price down and the yields up.

    When calm returns and the treasuries go back up, I sell.

    1 Recommendation

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