No matter how many times I see it, "Lets just default" will remain an amazingly stupid idea - nt

Ohio Joe

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Sat Jul-30-11 06:20 PM
Original message

No matter how many times I see it, "Lets just default" will remain an amazingly stupid idea - nt

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gateley

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Sat Jul-30-11 06:21 PM
Response to Original message

1. Agree - although I understand their frustration, those saying this

won't be immune from the consequences. We'll ALL be hurt - and some far worse than others. :(

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LaurenG

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Sat Jul-30-11 06:23 PM
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2. I agree, thankfully it won't happen.

The r's just love drama.

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dkf

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Sat Jul-30-11 06:23 PM
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3. If rates rise because of this it will increase our interest costs and make us cut more spending.

Interest costs are going to crowd out spending on all the other stuff.

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yourout

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Sat Jul-30-11 06:23 PM
Response to Original message

4. If its the only choice other than dismantliing SS and Medicare then I say default.

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Ohio Joe

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Sat Jul-30-11 06:26 PM
Response to Reply #4

5. Regardless of what you say, it is a stupid idea

And you do not appear to either know nor care how much misery it would cause.

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Rex

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Sat Jul-30-11 06:29 PM
Response to Reply #5

7. I am curious, just how much misery would it cause?

I keep hearing that as well...can anyone give details to what life will be like after a default? Gas wars? Killing over scraps of food? Pack of smokes 20 bucks? What are we talking about when it comes to a default?

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Ohio Joe

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Sat Jul-30-11 06:32 PM
Response to Reply #7

8. Interest rates rising for everyone that owes anything...

Real un-employment going way up, cost of living going up all around... extrapolate from there what things will be like.

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michaz

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Sat Jul-30-11 06:35 PM
Response to Reply #5

10. It appears that you don't understand someone might have another opinion.

It might just be that for some voters they have to literally be hit over the head to understand just what they voted for. It happens. Would it be bad to let it happen, yes. Do we want to listen to these Republicans lie any more, no. Sometimes there is another opinion.

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Ohio Joe

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Sat Jul-30-11 06:39 PM
Response to Reply #10

11. When that opinion is "Hey! Lets fuck everything up right now!"...

I'll offer my opinion that it is an amazingly stupid idea.

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DLnyc

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Sat Jul-30-11 06:28 PM
Response to Original message

6. Perhaps, but "let's just cut ourselves into a depression"

is not such a hot idea either. The economy needs stimulus, not cuts to basic services. Raising taxes at the top levels might help with the deficit without greatly impacting the economy; cutting the hell out of basic services could quite easily tip the shaky economy into a full-blown depression, in my view.

So we're damned if we do and damned if we don't.

And since the rethugnican idea of 'compromise' is to just move the goalposts further to their side, it seems like the only choices are default or kill the economy.

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Ohio Joe

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Sat Jul-30-11 06:34 PM
Response to Reply #6

9. Who said it was?

Saying "There might be a bad deal so lets fuck everything up right now" is a far worse idea.

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DLnyc

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Sat Jul-30-11 08:47 PM
Response to Reply #9

12. More precisely, I think I am saying either way is fucked.

A default would cause wild gyrations in the markets, but I'm pretty sure that the ceiling will be raised pretty quickly once the markets start wobbling.

However, buying into the Republican trillion-dollar cuts with no tax changes is likely, in my opinion and in the opinion of others, to clobber an already teetering economy. That might actually be harder to fix.

So I wasn't trying to say "let's fuck everything up," I was trying to say "what is the least fucked up path available."

I honestly don't know what will happen or what the effect will be. But I think the danger of these massive cuts to the economy is a valid factor to consider.

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zappaman

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Sat Jul-30-11 09:19 PM
Response to Original message

13. K&R n/t

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