A downgrade for defaulting will raise rates by about 1%, a $150 Billion per year to China & others..

That's the cost for the increased interest payment on our already existing debt...Does the Tea Party realize? that they are about to add about $1.5 TRILLION to our deficits? over the next 10 years? Do they realize this is the mother of all TAX INCREASES ON ALL OF US?


And, do they realize, do we all realize, does President Obama realize that any cuts and all the cuts can only lead to less spending by everyone, causing us to dip into another recession? Why isn't anyone screaming about this?

We need more spending, not more cuts...They are all competing as to who will end up cutting the most and the fastest, which will crash our economy!!! THIS IS GOING TO HAPPEN, this will never employ one person, or add one dime to what the government brings in, or cause one large corporation to add one job in this country!!!

Saw a rightwinger/economist on TV, his argument is let us default, let it all crash, let them downgrade us now, because sooner or later we are going to be downgraded anyway (BECAUSE WE KEEP SPENDING...etc.), so let it happen now while Obama is President. He was convinced that the 2012 elections will bring about more Republicans in Washington, including the Presidency, which will then turn all of this around, the country will prosper again going forward...etc. He said after the people take over (as in replace Obama and Dems. in Congress), America is going to see unprecedented growth...etc.

This is truly a nightmare!!!

They just don't give a damn!

These people are complete idiots that have no clue, and don't have the brains to figure out how much this will hurt this country.