Will there for Civil unrest if the U.S. goes into a Debt Ceiling default?

[Danny]

Here we go again! Our broken U.S of A Government is almost running of money and time. They have to October 17th to raise the debt ceiling or face default.

If national credit default happens the nightmare begins November 1st 2013.

1. Social Security checks will STOP.

2. Food Stamps, WIC, welfare checks, Medicare, Medicaid even Obamacare will STOP.

3. Our global economy will CRASH! Billions of people will lose their jobs [[This would lead another Great Depression).

4. All national parks will CLOSE!

5. Our US Armed Forces will not receive benefits. [[This could lead to possible Coup d'tat!)

6. The Communist Chinese government [[ One of the biggest creditors) will demand payments plus interests or face possible U.N. financial management or act of war.

7. Other nations will follow suit against the United States.

8. Stock markets will CRASH and BURN.

9. Riots will loom all over the world.

10. OPEC will longer accept the U.S. dollar, only foreign dollars, gold, silver and other precious metals and national values.

11. All world trade goods will not accept U.S. dollars. Free World Trade markets will CLOSE. Cutting imports and exports of goods and services. All products will be very expensive.

12. If World War III persists, a possible nuclear war will follow resulting a 75% of life of Earth will perish.

13. During this MAD MAX [[ post-apocalyptic) era religion, wisdom, freedom don't mean nothing to mankind. Only fear, pestilence, tribal race hating and survival is law. Love will be social construct meant to be earned out of respect. Our very global society and civilization will be nothing but stories compare to the Lost City of Atlantis and other empires of the past.

Any thoughts on this matter? Is there way to mend our broken U.S. Government? Or just let it die and bring new leaders. For far is I know. I'm ashamed of this nation. The United States of America is no longer a world power of the Earth. Its a second world nation.

[old guy]

It won't happen. Another eleventh hour sideshow. Unlike the faux government shutdown, this would have dire implications. I'm growing tired of this circus and the clowns we're subjected to deal with. We shouldn't have to participate in this ignorance.

[Crumbled_pavement]

It won't happen. Another eleventh hour sideshow. Unlike the faux government shutdown, this would have dire implications. I'm growing tired of this circus and the clowns we're subjected to deal with. We shouldn't have to participate in this ignorance.

Michele Bachmann has an interesting take on this:

[Papasito]

No increase in the debt limit is this:
The Government's current level of spending is approved, but an increase in spending [[AKA more borrowing) is not authorized.
Which means - The Government must make budget cuts for the Government to pay it's bills in order to not exceed it's current level of spending. In actuality it means the Government stops borrowing money it can't afford to pay back.

It may be tough on our free spending Government, but it would in effect show the Government is being financially responsible for the first time in 40 years.

[Jimaz]

I really hope this website spreads like wildfire:

DrunkDialCongress.org

That would be hilarious.

[old guy]

I find the "You jerks are costing the country $12 million bucks an hour!" the most interesting story. What are we doing? There's no logic.

I wrote a newspaper column last week that among other things addressed the fact that according to the United States Mint, it costs almost two and a half cents to manufacture a penny. It costs over eleven cents to manufacture a nickel. The only arguments I’ve ever heard in defense of this practice are that people are nostalgic about pennies and also that it only costs eleven cents to manufacture a quarter, which helps to offset the cost of the penny and the nickel.
Do you see the logic there? I don’t. If you’re nostalgic about pennies, and I really don’t hear many conversations regarding the importance of pennies, hang on to a box of them and call it a day. Why would a country that’s possibly on the brink of financial disaster waste money to make money? Again, I realize it’s a minute amount of money in the grand scheme of things, but what’s the point?

Oh, and by the way, that tiny drop in the bucket from producing pennies for the year 2012 was a loss of fifty eight million dollars. That was down from 2011 when the loss for manufacturing them was sixty million dollars. That’s one hundred and eighteen million dollars loss to tax payers in just two years. Figure in the loss from manufacturing nickels and it’s about an additional forty million dollars a year.

Again, what's the logic. The government shutdown will probably cost us billions of dollars. Why are we doing these things.

[Gistok]

Old guy... to quote the late senator Evertt McKinley Dirksen of IL... "a billion here and a billion there... and pretty soon it adds up to real money!!"

[old guy]

Old guy... to quote the late senator Evertt McKinley Dirksen of IL... "a billion here and a billion there... and pretty soon it adds up to real money!!"

That's always been one of my favorite quotes.

[Danny]

Five days until debt ceiling default. Our 112th U.S. Congress still talk the talk and not walk the walk. MAD MAX is coming.

Can't wait for midterm elections next year. I want all republicans out of Congress.

[oladub]

There is no reason for a default. There are three solutions.

1. Reduce government spending. This could begin by, for instance, ending all corporate welfare, bringing a lot of our troops home, and adjusting our foreign policy. It could be followed up with better oversight over government expenditures and ending redundant federal programs and agencies already run by states. I would go a step further and end congressional spending not empowered by the Constitution but that isn't going to happen. Status quo interests would be hurt. They will not allow such a thing to happen.

2. Raise sufficient additional taxes to pay for all existing expenses. Federal expenses exceed federal revenue by about $1T/year so by dividing that up among 120M taxpayers, that works out to about an additional $8,000/year tax increase per family or more if the debt ceiling is increased. Some of this could be hidden in corporate taxes, user fees, etc.. That certainly isn't going to happen as the economy would tank if so much money was transferred from spending to taxation. That and the fear of politicians who didn't want to be lynched.

3. Expand our lines of credit and bill it to our kids. If the interest rate on what the government borrows EVER returns to its average of 5.8%, just paying the interest on the existing debt will equal $7,900/year for the average taxpaying family. Government programs would have to be curtailed. That's for our kids to worry about however. So I think we have a winning solution here that President Obama and status quo Republicans can agree on: screw our kids.

[Bobl]

I don't think it will happen. It never should have been raised as a partisan issue, by a minority of zealots, though.
Watched Betty Reid Soskin, 92 year old employee of the National Park Service, make too much sense yesterday. She has worked there since WWII.
The fools who shut her job down should listen to her.
Jackasses.

[rb336]

No increase in the debt limit is this:
The Government's current level of spending is approved, but an increase in spending [[AKA more borrowing) is not authorized.
Which means - The Government must make budget cuts for the Government to pay it's bills in order to not exceed it's current level of spending. In actuality it means the Government stops borrowing money it can't afford to pay back.

It may be tough on our free spending Government, but it would in effect show the Government is being financially responsible for the first time in 40 years.

actually, no. The debt limit does have to do with approved spending. It just says we can't borrow more to meet that spending. The largest single increase in budgets is service on the debt and the largest portion of that is defense-related, especially since we are still paying on two unfunded wars. Medicare, Medicaid and Social Security don't even enter the equation as they are not part of the general budget. Social Security is, in fact, one of the largest creditors to the general fund.

[lpg]

Five days until debt ceiling default. Our 112th U.S. Congress still talk the talk and not walk the walk. MAD MAX is coming.

Can't wait for midterm elections next year. I want all republicans out of Congress.

So a one party system is the answer ? And how would that solve the problem ?

[gazhekwe]

Two and two and a half party system works when it is used responsibly. Minority voices like the Tea Party have valuable ideas to discuss. We have run into problems because discussion is not enough for them, they want to control everything, and even though they do not have the votes to do so, the majority party is allowing them to run the entire Congress by refusing to allow an up or down vote on the clean bill to raise the debt ceiling so we can pay the bills already incurred and reopen the government.

[lpg]

Two and two and a half party system works when it is used responsibly. Minority voices like the Tea Party have valuable ideas to discuss. We have run into problems because discussion is not enough for them, they want to control everything, and even though they do not have the votes to do so, the majority party is allowing them to run the entire Congress by refusing to allow an up or down vote on the clean bill to raise the debt ceiling so we can pay the bills already incurred and reopen the government.

True...Responsibility is in short supply these days.

[Jimaz]

... Watched Betty Reid Soskin, 92 year old employee of the National Park Service, make too much sense yesterday. She has worked there since WWII.
The fools who shut her job down should listen to her....

Thanks for posting that. Never heard of her. Found some videos. She's brilliant — and at that age too!

• Furloughed 92-year-old park ranger ready to give D.C. a piece of her mind
• 92-year-old Park Ranger Furloughed
• Betty Reid Soskin "We're All in the Fight: African Americans at Work"
• The National WWII Museum

[Danny]

Four days until debt ceiling default. If this happens I want all the people in the State of Michigan to secede from the United States and annex to Dominion of Canada.

[Wingnatic]

Four days until debt ceiling default. If this happens I want all the people in the State of Michigan to secede from the United States and annex to Dominion of Canada.

That sounds do-able

[Gistok]

Will There For Civil Unrest If The U.S. Goes Into A Debt Ceiling Default?


.... only if Xerox Corporation doesn't stop dicking around with their multi-state Bridge Card computer system on the weekends...

[punky1]

In response to seceding to Canada.....Don't think that will work. Don't think the Canadians want us.

[Papasito]

Let's not sugar coat it, kids.
Washington DC is pathetic.

5. Our US Armed Forces will not receive benefits. [[This could lead to possible Coup d'tat!)

I am a fan of #5. Kick the post-Constitutionalist bums out of Washington. Democrats and Republicans are both a joke.

[Danny]

We need a new political party in Congress. A socialist party.

[Danny]

In response to seceding to Canada.....Don't think that will work. Don't think the Canadians want us.

The Canadians would love to have Michigan in their country. We just let the parliament know that the Province of Michigan is part of Canada. I might start a petition a secede Michigan from the union and annex to Canada if Congress don't act to open government and raise the debt ceiling.

[lpg]

We need a new political party in Congress. A socialist party.

How about a necktie party for all those people ?

[rb336]

The Canadians would love to have Michigan in their country. We just let the parliament know that the Province of Michigan is part of Canada. I might start a petition a secede Michigan from the union and annex to Canada if Congress don't act to open government and raise the debt ceiling.

do it Danny!