On October 09 2013 22:08 LaughingTulkas wrote: The problem now is that Obama can't capitulate, because it sets a terrible precedent, but neither can the Republicans capitulate, because they've taken things too far to give up without getting anything in return. Somebody needs to find out some face saving compromise that the Republicans can say "we got this" while the Democrats can still say "we didn't give them anything important" which frankly seems pretty impossible (it may be).
Note: obviously, to really do such a thing is impossible, but what we truly need is a solution which allows them the SAY that they did it to their base, and say it in such a way that the base will believe it. This second is actually pretty easy, the staunch Republicans and Democrats will believe just about any spin that they read that favors (or victimizes) their particular party, its the first part of the equation that is hard. What would such a compromise be? It has to be something at least symbolically important to the Republicans, but most likely substantively unimportant to the Democrats.
The best I can think of is a temporary agreement for the government and the institution of a special commission to fix the real problem, and one the Republicans feel they can control. I just don't think such a commission would succeed.
Except there isnt even a face saving compromise possible anymore. The Republicans have pushed the fight against the ACA so far that any solution that doesnt effect the ACA is an automatic loss. And the Democrats cannot sell this as anything other then a defeat if any part of the ACA is touched since they keep publicly stating that no budget that changes the ACA is acceptable.
If a clean CR can get a vote without the Republicans bringing it to the floor then there is a way out. More moderate Republicans vote for it to save the nation from default which they can sell to there moderate constituents while the hardliners can say they did all they possibly could.
The other option? Obama executive orders around the debt ceiling, saving the US from default. Winning yet another point over the Republicans and the deadlock continues until the 2014 elections where hopefully the Republicans lose so bad the Democrats get the Senate, House and Presidency and the country can finally go back to running again.
If you're not living in the US or are a US Citizen, please do not tell us how to vote or how you want our country to be governed. It might surprise you that some of us are sick of the donkey nonsense that got us in this mess in the first place. Also, the fact that you say the Democrats need to save the US because the Republicans are essentially the bad guys is perverse. Please realize that international propaganda from the US is primarily liberal.
Eh. People across the world who have absolutely no education in the U.S. Constitution have just as much knowledge as most of the American voting population. It's kind of a big reason we have many of the problems we do.
That's because the nation's educators largely see the U.S. Constitution as nothing more than an impediment.
Yours may have. That you can blame teachers of all people speaks volumes.
Teachers aren't sacrosanct, especially in universities, their politics frequently enter the classroom.
On October 09 2013 22:08 LaughingTulkas wrote: The problem now is that Obama can't capitulate, because it sets a terrible precedent, but neither can the Republicans capitulate, because they've taken things too far to give up without getting anything in return. Somebody needs to find out some face saving compromise that the Republicans can say "we got this" while the Democrats can still say "we didn't give them anything important" which frankly seems pretty impossible (it may be).
Note: obviously, to really do such a thing is impossible, but what we truly need is a solution which allows them the SAY that they did it to their base, and say it in such a way that the base will believe it. This second is actually pretty easy, the staunch Republicans and Democrats will believe just about any spin that they read that favors (or victimizes) their particular party, its the first part of the equation that is hard. What would such a compromise be? It has to be something at least symbolically important to the Republicans, but most likely substantively unimportant to the Democrats.
The best I can think of is a temporary agreement for the government and the institution of a special commission to fix the real problem, and one the Republicans feel they can control. I just don't think such a commission would succeed.
Except there isnt even a face saving compromise possible anymore. The Republicans have pushed the fight against the ACA so far that any solution that doesnt effect the ACA is an automatic loss. And the Democrats cannot sell this as anything other then a defeat if any part of the ACA is touched since they keep publicly stating that no budget that changes the ACA is acceptable.
If a clean CR can get a vote without the Republicans bringing it to the floor then there is a way out. More moderate Republicans vote for it to save the nation from default which they can sell to there moderate constituents while the hardliners can say they did all they possibly could.
The other option? Obama executive orders around the debt ceiling, saving the US from default. Winning yet another point over the Republicans and the deadlock continues until the 2014 elections where hopefully the Republicans lose so bad the Democrats get the Senate, House and Presidency and the country can finally go back to running again.
If you're not living in the US or are a US Citizen, please do not tell us how to vote or how you want our country to be governed. It might surprise you that some of us are sick of the donkey nonsense that got us in this mess in the first place. Also, the fact that you say the Democrats need to save the US because the Republicans are essentially the bad guys is perverse. Please realize that international propaganda from the US is primarily liberal.
Irony: US citizens telling non-US citizens to not tell them how they should govern their own country whilethe foreign policy of their country has basically revolved around telling other countries how they should govern themselves (or trying to force them to if they didn't want to listen).
To be fair, some of us completely disagree with our current foreign policy.
While I owe some replies, I have no time for them yet. Instead I'll share the following elucidating analysis of the source of the recent crises in Washington.
On October 09 2013 22:08 LaughingTulkas wrote: The problem now is that Obama can't capitulate, because it sets a terrible precedent, but neither can the Republicans capitulate, because they've taken things too far to give up without getting anything in return. Somebody needs to find out some face saving compromise that the Republicans can say "we got this" while the Democrats can still say "we didn't give them anything important" which frankly seems pretty impossible (it may be).
Note: obviously, to really do such a thing is impossible, but what we truly need is a solution which allows them the SAY that they did it to their base, and say it in such a way that the base will believe it. This second is actually pretty easy, the staunch Republicans and Democrats will believe just about any spin that they read that favors (or victimizes) their particular party, its the first part of the equation that is hard. What would such a compromise be? It has to be something at least symbolically important to the Republicans, but most likely substantively unimportant to the Democrats.
The best I can think of is a temporary agreement for the government and the institution of a special commission to fix the real problem, and one the Republicans feel they can control. I just don't think such a commission would succeed.
Except there isnt even a face saving compromise possible anymore. The Republicans have pushed the fight against the ACA so far that any solution that doesnt effect the ACA is an automatic loss. And the Democrats cannot sell this as anything other then a defeat if any part of the ACA is touched since they keep publicly stating that no budget that changes the ACA is acceptable.
If a clean CR can get a vote without the Republicans bringing it to the floor then there is a way out. More moderate Republicans vote for it to save the nation from default which they can sell to there moderate constituents while the hardliners can say they did all they possibly could.
The other option? Obama executive orders around the debt ceiling, saving the US from default. Winning yet another point over the Republicans and the deadlock continues until the 2014 elections where hopefully the Republicans lose so bad the Democrats get the Senate, House and Presidency and the country can finally go back to running again.
If you're not living in the US or are a US Citizen, please do not tell us how to vote or how you want our country to be governed. It might surprise you that some of us are sick of the donkey nonsense that got us in this mess in the first place. Also, the fact that you say the Democrats need to save the US because the Republicans are essentially the bad guys is perverse. Please realize that international propaganda from the US is primarily liberal.
Eh. People across the world who have absolutely no education in the U.S. Constitution have just as much knowledge as most of the American voting population. It's kind of a big reason we have many of the problems we do.
That's because the nation's educators largely see the U.S. Constitution as nothing more than an impediment.
Yours may have. That you can blame teachers of all people speaks volumes.
Teachers aren't sacrosanct, especially in universities, their politics frequently enter the classroom.
They don't have to be sacrosanct in order for someone to see how incredibly spurious it is to suggest that educational politics are. in any definite way, to be blamed for the general intellectual malaise present in US politics. You might as well blame parents, which makes similarly little sense.
On October 09 2013 22:08 LaughingTulkas wrote: The problem now is that Obama can't capitulate, because it sets a terrible precedent, but neither can the Republicans capitulate, because they've taken things too far to give up without getting anything in return. Somebody needs to find out some face saving compromise that the Republicans can say "we got this" while the Democrats can still say "we didn't give them anything important" which frankly seems pretty impossible (it may be).
Note: obviously, to really do such a thing is impossible, but what we truly need is a solution which allows them the SAY that they did it to their base, and say it in such a way that the base will believe it. This second is actually pretty easy, the staunch Republicans and Democrats will believe just about any spin that they read that favors (or victimizes) their particular party, its the first part of the equation that is hard. What would such a compromise be? It has to be something at least symbolically important to the Republicans, but most likely substantively unimportant to the Democrats.
The best I can think of is a temporary agreement for the government and the institution of a special commission to fix the real problem, and one the Republicans feel they can control. I just don't think such a commission would succeed.
Except there isnt even a face saving compromise possible anymore. The Republicans have pushed the fight against the ACA so far that any solution that doesnt effect the ACA is an automatic loss. And the Democrats cannot sell this as anything other then a defeat if any part of the ACA is touched since they keep publicly stating that no budget that changes the ACA is acceptable.
If a clean CR can get a vote without the Republicans bringing it to the floor then there is a way out. More moderate Republicans vote for it to save the nation from default which they can sell to there moderate constituents while the hardliners can say they did all they possibly could.
The other option? Obama executive orders around the debt ceiling, saving the US from default. Winning yet another point over the Republicans and the deadlock continues until the 2014 elections where hopefully the Republicans lose so bad the Democrats get the Senate, House and Presidency and the country can finally go back to running again.
If you're not living in the US or are a US Citizen, please do not tell us how to vote or how you want our country to be governed. It might surprise you that some of us are sick of the donkey nonsense that got us in this mess in the first place. Also, the fact that you say the Democrats need to save the US because the Republicans are essentially the bad guys is perverse. Please realize that international propaganda from the US is primarily liberal.
Eh. People across the world who have absolutely no education in the U.S. Constitution have just as much knowledge as most of the American voting population. It's kind of a big reason we have many of the problems we do.
That's because the nation's educators largely see the U.S. Constitution as nothing more than an impediment.
Yours may have. That you can blame teachers of all people speaks volumes.
Teachers aren't sacrosanct, especially in universities, their politics frequently enter the classroom.
They don't have to be sacrosanct in order for someone to see how incredibly spurious it is to suggest that educational politics are. in any definite way, to be blamed for the general intellectual malaise present in US politics. You might as well blame parents, which makes similarly little sense.
Well it's a good thing I was talking about respect for the Constitution and not general malaise.
On October 09 2013 22:08 LaughingTulkas wrote: The problem now is that Obama can't capitulate, because it sets a terrible precedent, but neither can the Republicans capitulate, because they've taken things too far to give up without getting anything in return. Somebody needs to find out some face saving compromise that the Republicans can say "we got this" while the Democrats can still say "we didn't give them anything important" which frankly seems pretty impossible (it may be).
Note: obviously, to really do such a thing is impossible, but what we truly need is a solution which allows them the SAY that they did it to their base, and say it in such a way that the base will believe it. This second is actually pretty easy, the staunch Republicans and Democrats will believe just about any spin that they read that favors (or victimizes) their particular party, its the first part of the equation that is hard. What would such a compromise be? It has to be something at least symbolically important to the Republicans, but most likely substantively unimportant to the Democrats.
The best I can think of is a temporary agreement for the government and the institution of a special commission to fix the real problem, and one the Republicans feel they can control. I just don't think such a commission would succeed.
Except there isnt even a face saving compromise possible anymore. The Republicans have pushed the fight against the ACA so far that any solution that doesnt effect the ACA is an automatic loss. And the Democrats cannot sell this as anything other then a defeat if any part of the ACA is touched since they keep publicly stating that no budget that changes the ACA is acceptable.
If a clean CR can get a vote without the Republicans bringing it to the floor then there is a way out. More moderate Republicans vote for it to save the nation from default which they can sell to there moderate constituents while the hardliners can say they did all they possibly could.
The other option? Obama executive orders around the debt ceiling, saving the US from default. Winning yet another point over the Republicans and the deadlock continues until the 2014 elections where hopefully the Republicans lose so bad the Democrats get the Senate, House and Presidency and the country can finally go back to running again.
If you're not living in the US or are a US Citizen, please do not tell us how to vote or how you want our country to be governed. It might surprise you that some of us are sick of the donkey nonsense that got us in this mess in the first place. Also, the fact that you say the Democrats need to save the US because the Republicans are essentially the bad guys is perverse. Please realize that international propaganda from the US is primarily liberal.
Eh. People across the world who have absolutely no education in the U.S. Constitution have just as much knowledge as most of the American voting population. It's kind of a big reason we have many of the problems we do.
That's because the nation's educators largely see the U.S. Constitution as nothing more than an impediment.
Yours may have. That you can blame teachers of all people speaks volumes.
Teachers aren't sacrosanct, especially in universities, their politics frequently enter the classroom.
They don't have to be sacrosanct in order for someone to see how incredibly spurious it is to suggest that educational politics are. in any definite way, to be blamed for the general intellectual malaise present in US politics. You might as well blame parents, which makes similarly little sense.
Well it's a good thing I was talking about respect for the Constitution and not general malaise.
You're right, it is, because such a hilariously nonsensical focal point can only come from the fingers of someone who has already made their bed with the likes of Ted Cruz.
Yay! Now the House just passed a bill to Restore Death Benefits to servicemen families. The favorite political pawn of our time. Fuck everybody else though. You can't pick and choose or it will NEVER STOP.
On October 10 2013 03:26 Ghanburighan wrote: While I owe some replies, I have no time for them yet. Instead I'll share the following elucidating analysis of the source of the recent crises in Washington.
On October 10 2013 03:34 Hrrrrm wrote: Yay! Now the House just passed a bill to Restore Death Benefits to servicemen families. The favorite political pawn of our time. Fuck everybody else though. You can't pick and choose or it will NEVER STOP.
Senate wont accept it. If they do the House will just pass everything except the ACA one by one.
On October 09 2013 22:08 LaughingTulkas wrote: The problem now is that Obama can't capitulate, because it sets a terrible precedent, but neither can the Republicans capitulate, because they've taken things too far to give up without getting anything in return. Somebody needs to find out some face saving compromise that the Republicans can say "we got this" while the Democrats can still say "we didn't give them anything important" which frankly seems pretty impossible (it may be).
Note: obviously, to really do such a thing is impossible, but what we truly need is a solution which allows them the SAY that they did it to their base, and say it in such a way that the base will believe it. This second is actually pretty easy, the staunch Republicans and Democrats will believe just about any spin that they read that favors (or victimizes) their particular party, its the first part of the equation that is hard. What would such a compromise be? It has to be something at least symbolically important to the Republicans, but most likely substantively unimportant to the Democrats.
The best I can think of is a temporary agreement for the government and the institution of a special commission to fix the real problem, and one the Republicans feel they can control. I just don't think such a commission would succeed.
Except there isnt even a face saving compromise possible anymore. The Republicans have pushed the fight against the ACA so far that any solution that doesnt effect the ACA is an automatic loss. And the Democrats cannot sell this as anything other then a defeat if any part of the ACA is touched since they keep publicly stating that no budget that changes the ACA is acceptable.
If a clean CR can get a vote without the Republicans bringing it to the floor then there is a way out. More moderate Republicans vote for it to save the nation from default which they can sell to there moderate constituents while the hardliners can say they did all they possibly could.
The other option? Obama executive orders around the debt ceiling, saving the US from default. Winning yet another point over the Republicans and the deadlock continues until the 2014 elections where hopefully the Republicans lose so bad the Democrats get the Senate, House and Presidency and the country can finally go back to running again.
If you're not living in the US or are a US Citizen, please do not tell us how to vote or how you want our country to be governed. It might surprise you that some of us are sick of the donkey nonsense that got us in this mess in the first place. Also, the fact that you say the Democrats need to save the US because the Republicans are essentially the bad guys is perverse. Please realize that international propaganda from the US is primarily liberal.
Eh. People across the world who have absolutely no education in the U.S. Constitution have just as much knowledge as most of the American voting population. It's kind of a big reason we have many of the problems we do.
That's because the nation's educators largely see the U.S. Constitution as nothing more than an impediment.
Yours may have. That you can blame teachers of all people speaks volumes.
Teachers aren't sacrosanct, especially in universities, their politics frequently enter the classroom.
They don't have to be sacrosanct in order for someone to see how incredibly spurious it is to suggest that educational politics are. in any definite way, to be blamed for the general intellectual malaise present in US politics. You might as well blame parents, which makes similarly little sense.
Well it's a good thing I was talking about respect for the Constitution and not general malaise.
You're right, it is, because such a hilariously nonsensical focal point can only come from the fingers of someone who has already made their bed with the likes of Ted Cruz.
Ted Cruz is a politician. What they say and do is calculated for personal gain. That should go without saying but I guess we never miss an opportunity to ridicule a Republican.
To me this feels like another proof of why right wing politics sucks ass. Seriously it's everywhere, these fuckers are traditionally and zealously against any kind of change or progress and prefer to stick to their old-ass ways and traditions.
Best luck to people affected by the shutdown, I hope it gets resolved quickly.
Except there isnt even a face saving compromise possible anymore. The Republicans have pushed the fight against the ACA so far that any solution that doesnt effect the ACA is an automatic loss. And the Democrats cannot sell this as anything other then a defeat if any part of the ACA is touched since they keep publicly stating that no budget that changes the ACA is acceptable.
If a clean CR can get a vote without the Republicans bringing it to the floor then there is a way out. More moderate Republicans vote for it to save the nation from default which they can sell to there moderate constituents while the hardliners can say they did all they possibly could.
The other option? Obama executive orders around the debt ceiling, saving the US from default. Winning yet another point over the Republicans and the deadlock continues until the 2014 elections where hopefully the Republicans lose so bad the Democrats get the Senate, House and Presidency and the country can finally go back to running again.
If you're not living in the US or are a US Citizen, please do not tell us how to vote or how you want our country to be governed. It might surprise you that some of us are sick of the donkey nonsense that got us in this mess in the first place. Also, the fact that you say the Democrats need to save the US because the Republicans are essentially the bad guys is perverse. Please realize that international propaganda from the US is primarily liberal.
Eh. People across the world who have absolutely no education in the U.S. Constitution have just as much knowledge as most of the American voting population. It's kind of a big reason we have many of the problems we do.
That's because the nation's educators largely see the U.S. Constitution as nothing more than an impediment.
Yours may have. That you can blame teachers of all people speaks volumes.
Teachers aren't sacrosanct, especially in universities, their politics frequently enter the classroom.
They don't have to be sacrosanct in order for someone to see how incredibly spurious it is to suggest that educational politics are. in any definite way, to be blamed for the general intellectual malaise present in US politics. You might as well blame parents, which makes similarly little sense.
Well it's a good thing I was talking about respect for the Constitution and not general malaise.
You're right, it is, because such a hilariously nonsensical focal point can only come from the fingers of someone who has already made their bed with the likes of Ted Cruz.
Ted Cruz is a politician. What they say and do is calculated for personal gain. That should go without saying but I guess we never miss an opportunity to ridicule a Republican.
Nah, there are plenty of Republicans who refrain from making hackneyed pleas to the Constitution that are actually terribly stilted political agendas in disguise.
If you're not living in the US or are a US Citizen, please do not tell us how to vote or how you want our country to be governed. It might surprise you that some of us are sick of the donkey nonsense that got us in this mess in the first place. Also, the fact that you say the Democrats need to save the US because the Republicans are essentially the bad guys is perverse. Please realize that international propaganda from the US is primarily liberal.
Eh. People across the world who have absolutely no education in the U.S. Constitution have just as much knowledge as most of the American voting population. It's kind of a big reason we have many of the problems we do.
That's because the nation's educators largely see the U.S. Constitution as nothing more than an impediment.
Yours may have. That you can blame teachers of all people speaks volumes.
Teachers aren't sacrosanct, especially in universities, their politics frequently enter the classroom.
They don't have to be sacrosanct in order for someone to see how incredibly spurious it is to suggest that educational politics are. in any definite way, to be blamed for the general intellectual malaise present in US politics. You might as well blame parents, which makes similarly little sense.
Well it's a good thing I was talking about respect for the Constitution and not general malaise.
You're right, it is, because such a hilariously nonsensical focal point can only come from the fingers of someone who has already made their bed with the likes of Ted Cruz.
Ted Cruz is a politician. What they say and do is calculated for personal gain. That should go without saying but I guess we never miss an opportunity to ridicule a Republican.
Nah, there are plenty of Republicans who refrain from making hackneyed pleas to the Constitution that are actually terribly stilted political agendas in disguise.
And most people don't know their names. Come on, take your partisan blinders off for once.
1. If the budget is not passed until the 17th of October, the US may have to file bankruptcy within November, likely causing another global financial crisis.
Where in the world did you hear this? Seriously where?
[...]"The Bipartisan Policy Center echoes this view. In an updated analysis published this morning, it estimates that the “X date” defined as “the date on which the United States will be unable to meet all of its financial obligations in full and on time,” will come between October 22nd and November 1st. Analysts from Bank of America and Goldman Sachs also support the view that while the Treasury may be able to limp along during the second half of October, it’s highly unlikely the U.S. would avoid default without the debt ceiling being raised before November 1st."
Ok judging from the sources you provide the US government is not filing for bankruptcy in November.
Err... I don't know if I got something wrong, but:
"“the date on which the United States will be unable to meet all of its financial obligations in full and on time,” will come between October 22nd and November 1st"
In legal terminology, the situation where the liabilities of a person or firm exceed its assets. In practice, however, insolvency is the situation where an entity cannot raise enough cash to meet its obligations, or to pay debts as they become due for payment. Properly called technical insolvency, it may occur even when the value of an entity's total assets exceeds its total liabilities. Mere insolvency does not afford enough ground for lenders to petition for involuntary bankruptcy of the borrower, or force a liquidation of his or her assets.
Though - as shown in the spoilers - it is not equal to bankruptcy, it is still the first step to it.
Edit: And figuratively speaking, this whole process is the American political system filing for bankruptcy (I don't know if this metaphor exists in English, though).
Bankruptcy is very different. Saying the us will go into bankruptcy in nov over the debt ceiling is flat out wrong. It might happen sometime down the road but not in the next month.
It is true that I worded it wrong using "bankruptcy". However having the US default isn't something to not take seriously. Because if the US defaults, I can pretty much assure you that due to the implosion of the world financial system, the bankruptcy of the US will become a very realistic option. Of course not directly in November as I mistakenly expressed in my post.
1. If the budget is not passed until the 17th of October, the US may have to file bankruptcy within November, likely causing another global financial crisis.
Where in the world did you hear this? Seriously where?
[...]"The Bipartisan Policy Center echoes this view. In an updated analysis published this morning, it estimates that the “X date” defined as “the date on which the United States will be unable to meet all of its financial obligations in full and on time,” will come between October 22nd and November 1st. Analysts from Bank of America and Goldman Sachs also support the view that while the Treasury may be able to limp along during the second half of October, it’s highly unlikely the U.S. would avoid default without the debt ceiling being raised before November 1st."
Ok judging from the sources you provide the US government is not filing for bankruptcy in November.
Err... I don't know if I got something wrong, but:
"“the date on which the United States will be unable to meet all of its financial obligations in full and on time,” will come between October 22nd and November 1st"
In legal terminology, the situation where the liabilities of a person or firm exceed its assets. In practice, however, insolvency is the situation where an entity cannot raise enough cash to meet its obligations, or to pay debts as they become due for payment. Properly called technical insolvency, it may occur even when the value of an entity's total assets exceeds its total liabilities. Mere insolvency does not afford enough ground for lenders to petition for involuntary bankruptcy of the borrower, or force a liquidation of his or her assets.
Though - as shown in the spoilers - it is not equal to bankruptcy, it is still the first step to it.
Edit: And figuratively speaking, this whole process is the American political system filing for bankruptcy (I don't know if this metaphor exists in English, though).
Bankruptcy is very different. Saying the us will go into bankruptcy in nov over the debt ceiling is flat out wrong. It might happen sometime down the road but not in the next month.
It is true that I worded it wrong using "bankruptcy". However having the US default isn't something to not take seriously. Because if the US defaults, I can pretty much assure you that due to the implosion of the world financial system, the bankruptcy of the US will become a very realistic option. Of course not directly in November as I mistakenly expressed in my post.
It's really not that serious. Stop buying the fearmongering.
Eh. People across the world who have absolutely no education in the U.S. Constitution have just as much knowledge as most of the American voting population. It's kind of a big reason we have many of the problems we do.
That's because the nation's educators largely see the U.S. Constitution as nothing more than an impediment.
Yours may have. That you can blame teachers of all people speaks volumes.
Teachers aren't sacrosanct, especially in universities, their politics frequently enter the classroom.
They don't have to be sacrosanct in order for someone to see how incredibly spurious it is to suggest that educational politics are. in any definite way, to be blamed for the general intellectual malaise present in US politics. You might as well blame parents, which makes similarly little sense.
Well it's a good thing I was talking about respect for the Constitution and not general malaise.
You're right, it is, because such a hilariously nonsensical focal point can only come from the fingers of someone who has already made their bed with the likes of Ted Cruz.
Ted Cruz is a politician. What they say and do is calculated for personal gain. That should go without saying but I guess we never miss an opportunity to ridicule a Republican.
Nah, there are plenty of Republicans who refrain from making hackneyed pleas to the Constitution that are actually terribly stilted political agendas in disguise.
And most people don't know their names. Come on, take your partisan blinders off for once.
If you or others don't know that moderate Republicans exist, I think it's time for y'all to worry about the blinders instead.
1. If the budget is not passed until the 17th of October, the US may have to file bankruptcy within November, likely causing another global financial crisis.
Where in the world did you hear this? Seriously where?
[...]"The Bipartisan Policy Center echoes this view. In an updated analysis published this morning, it estimates that the “X date” defined as “the date on which the United States will be unable to meet all of its financial obligations in full and on time,” will come between October 22nd and November 1st. Analysts from Bank of America and Goldman Sachs also support the view that while the Treasury may be able to limp along during the second half of October, it’s highly unlikely the U.S. would avoid default without the debt ceiling being raised before November 1st."
Ok judging from the sources you provide the US government is not filing for bankruptcy in November.
Err... I don't know if I got something wrong, but:
"“the date on which the United States will be unable to meet all of its financial obligations in full and on time,” will come between October 22nd and November 1st"
In legal terminology, the situation where the liabilities of a person or firm exceed its assets. In practice, however, insolvency is the situation where an entity cannot raise enough cash to meet its obligations, or to pay debts as they become due for payment. Properly called technical insolvency, it may occur even when the value of an entity's total assets exceeds its total liabilities. Mere insolvency does not afford enough ground for lenders to petition for involuntary bankruptcy of the borrower, or force a liquidation of his or her assets.
Though - as shown in the spoilers - it is not equal to bankruptcy, it is still the first step to it.
Edit: And figuratively speaking, this whole process is the American political system filing for bankruptcy (I don't know if this metaphor exists in English, though).
Bankruptcy is very different. Saying the us will go into bankruptcy in nov over the debt ceiling is flat out wrong. It might happen sometime down the road but not in the next month.
It is true that I worded it wrong using "bankruptcy". However having the US default isn't something to not take seriously. Because if the US defaults, I can pretty much assure you that due to the implosion of the world financial system, the bankruptcy of the US will become a very realistic option. Of course not directly in November as I mistakenly expressed in my post.
It's really not that serious. Stop buying the fearmongering.
Are you on heroin or do you not realize that the value of fiat currency is directly tied to confidence in the government that issues the currency?
1. If the budget is not passed until the 17th of October, the US may have to file bankruptcy within November, likely causing another global financial crisis.
Where in the world did you hear this? Seriously where?
[...]"The Bipartisan Policy Center echoes this view. In an updated analysis published this morning, it estimates that the “X date” defined as “the date on which the United States will be unable to meet all of its financial obligations in full and on time,” will come between October 22nd and November 1st. Analysts from Bank of America and Goldman Sachs also support the view that while the Treasury may be able to limp along during the second half of October, it’s highly unlikely the U.S. would avoid default without the debt ceiling being raised before November 1st."
Ok judging from the sources you provide the US government is not filing for bankruptcy in November.
Err... I don't know if I got something wrong, but:
"“the date on which the United States will be unable to meet all of its financial obligations in full and on time,” will come between October 22nd and November 1st"
In legal terminology, the situation where the liabilities of a person or firm exceed its assets. In practice, however, insolvency is the situation where an entity cannot raise enough cash to meet its obligations, or to pay debts as they become due for payment. Properly called technical insolvency, it may occur even when the value of an entity's total assets exceeds its total liabilities. Mere insolvency does not afford enough ground for lenders to petition for involuntary bankruptcy of the borrower, or force a liquidation of his or her assets.
Though - as shown in the spoilers - it is not equal to bankruptcy, it is still the first step to it.
Edit: And figuratively speaking, this whole process is the American political system filing for bankruptcy (I don't know if this metaphor exists in English, though).
Bankruptcy is very different. Saying the us will go into bankruptcy in nov over the debt ceiling is flat out wrong. It might happen sometime down the road but not in the next month.
It is true that I worded it wrong using "bankruptcy". However having the US default isn't something to not take seriously. Because if the US defaults, I can pretty much assure you that due to the implosion of the world financial system, the bankruptcy of the US will become a very realistic option. Of course not directly in November as I mistakenly expressed in my post.
It's really not that serious. Stop buying the fearmongering.
Are you on heroin or do you not realize that the value of fiat currency is directly tied to confidence in the government that issues the currency?
And the US will continue to be the safest bet in the world whether or not this political charade takes place.
1. If the budget is not passed until the 17th of October, the US may have to file bankruptcy within November, likely causing another global financial crisis.
Where in the world did you hear this? Seriously where?
[...]"The Bipartisan Policy Center echoes this view. In an updated analysis published this morning, it estimates that the “X date” defined as “the date on which the United States will be unable to meet all of its financial obligations in full and on time,” will come between October 22nd and November 1st. Analysts from Bank of America and Goldman Sachs also support the view that while the Treasury may be able to limp along during the second half of October, it’s highly unlikely the U.S. would avoid default without the debt ceiling being raised before November 1st."
Ok judging from the sources you provide the US government is not filing for bankruptcy in November.
Err... I don't know if I got something wrong, but:
"“the date on which the United States will be unable to meet all of its financial obligations in full and on time,” will come between October 22nd and November 1st"
In legal terminology, the situation where the liabilities of a person or firm exceed its assets. In practice, however, insolvency is the situation where an entity cannot raise enough cash to meet its obligations, or to pay debts as they become due for payment. Properly called technical insolvency, it may occur even when the value of an entity's total assets exceeds its total liabilities. Mere insolvency does not afford enough ground for lenders to petition for involuntary bankruptcy of the borrower, or force a liquidation of his or her assets.
Though - as shown in the spoilers - it is not equal to bankruptcy, it is still the first step to it.
Edit: And figuratively speaking, this whole process is the American political system filing for bankruptcy (I don't know if this metaphor exists in English, though).
Bankruptcy is very different. Saying the us will go into bankruptcy in nov over the debt ceiling is flat out wrong. It might happen sometime down the road but not in the next month.
It is true that I worded it wrong using "bankruptcy". However having the US default isn't something to not take seriously. Because if the US defaults, I can pretty much assure you that due to the implosion of the world financial system, the bankruptcy of the US will become a very realistic option. Of course not directly in November as I mistakenly expressed in my post.
It's really not that serious. Stop buying the fearmongering.
I don't think you understand how bad this would actually be. At the very least the rates on US treasury notes would go through the goddam roof making it damn near impossible for the government to borrow any money and further saddling the US with a harder debt burden. You would also probably have rampant inflation. You don't have to be an economics major to understand that those things are probably not good.
EPT
