Anybody else worried about the US defaulting this week?

Mobilemuscle

Who do you guys hold responsible for this - the republicans? It's horrible that that the situation makes ordinary people worry... life's hard enough.

Every single elected official in Washington!!!!!! I wish we could throw them all out and start over.

AMEN!

Still try to figure out the differences between how the us and canada fed governments worked. What I do know is when this type of situation happened before in Canada, it was a minority government and it forced an election. I felt that gave the taxpayers more power than just sitting there helplessly watching the politicians play silly games. It's not a game it's ur lives.

dont worry, when things get really bad and american vagrants pour across the border ....it will be your lives too

aliciap412

221 Republicans and 7 Democrats voted to shut down the government, so to say I blame both sides would feel silly to me.

Was the vote to actually shut down the government? Or to not approve a budget?

both! but only the republicans are guilty of stating their determination to shutdown our gov't on public record for over 3 years now. they knew what they were doing with no intention of compromising for the sake of the citizens or country.

Mobilemuscle

I hope the US does default.... better now than later

That is just stupid. Washington is a mess but a default helps no one. They need to get their heads out of their partisan a$$es and govern and lead. Some of us have been out of work for over two weeks now and would like a pay check.

Ya you're right.... lets just keep massive QE and remove the debt ceiling completely


crony capitalism has worked great this far right?

Meh, the debt ceiling is worthless anyway and isn't even the problem.

Its one of the many problems... but they should just remove the concept of the debt ceiling....it insults my intelligence

whierd

221 Republicans and 7 Democrats voted to shut down the government, so to say I blame both sides would feel silly to me.

Was the vote to actually shut down the government? Or to not approve a budget?

both! but only the republicans are guilty of stating their determination to shutdown our gov't on public record for over 3 years now. they knew what they were doing with no intention of compromising for the sake of the citizens or country.

Could you please link me to the passed bill for shutting down the government? I'd like to read the text of it

whierd

I hope the US does default.... better now than later

That is just stupid. Washington is a mess but a default helps no one. They need to get their heads out of their partisan a$$es and govern and lead. Some of us have been out of work for over two weeks now and would like a pay check.

Ya you're right.... lets just keep massive QE and remove the debt ceiling completely


crony capitalism has worked great this far right?

Meh, the debt ceiling is worthless anyway and isn't even the problem.

Its one of the many problems... but they should just remove the concept of the debt ceiling....it insults my intelligence

Mine too. It is pointless and has been raised 77 times. It is the deficit that is the real problem.

dcarr67

both! but only the republicans are guilty of stating their determination to shutdown our gov't on public record for over 3 years now. they knew what they were doing with no intention of compromising for the sake of the citizens or country.

Now that's funny. It's only the Republicans that wont compromise? really? If you honestly believe that, our country is more trouble than I already fear.

MarthaAnn8186

We won't default. There is still money going in.

whierd

both! but only the republicans are guilty of stating their determination to shutdown our gov't on public record for over 3 years now. they knew what they were doing with no intention of compromising for the sake of the citizens or country.

Now that's funny. It's only the Republicans that wont compromise? really? If you honestly believe that, our country is more trouble than I already fear.

That is unfortunately the mentality that many on both sides of the aisle have.

Mobilemuscle

look at longer dated bonds and Tbills... the system is hemorrhaging profusely... TPTB know this and are taking steps to protect themselves from the inevitable war that is coming

sorry about being such a doomsayer....but I follow the markets daily and its not looking good

The_Enginerd

Who do you guys hold responsible for this - the republicans? It's horrible that that the situation makes ordinary people worry... life's hard enough.

221 Republicans and 7 Democrats voted to shut down the government, so to say I blame both sides would feel silly to me.

And here we go...... Just because the Republicans didn't vote on what the Democrats wanted doesn't mean they shut down the government. Reid and Obama could have accepted what the house approved, so really, they shut down the government. Everything is supposed to start in the house.

That being said, the ACA is a law, fund it and let it work or fail on its own. I say go through the "clean" bill the liberals want and pull out all the bull$hit we don't need. I am sure there is a ton of pork in their "clean" bill.

^This. I am neither side politically, and there are parts of the ACA that I STRONGLY disagree with, but they should do their job and have a budget on time and fund what is approved.

Hildy_J

Who do you guys hold responsible for this - the republicans? It's horrible that that the situation makes ordinary people worry... life's hard enough.

Every single elected official in Washington!!!!!! I wish we could throw them all out and start over.

Is it true that THEY'RE still getting paid even though their staff aren't?

whierd

I am a Libertarian so I disagree with both sides. They are essentially the same to me. They just use different talking points to achieve the same goal. *shrug*

aliciap412

Now that's funny. It's only the Republicans that wont compromise? really? If you honestly believe that, our country is more trouble than I already fear.

ah thats right. I forgot about the democrats not agreeing to shutdown the prefrontal cortex. they are such sticks in the mud!

dcarr67

look at longer dated bonds and Tbills... the system is hemorrhaging profusely... TPTB know this and are taking steps to protect themselves from the inevitable war that is coming

sorry about being such a doomsayer....but I follow the markets daily and its not looking good

Don't get me wrong. I agree 100% they need to control spending and actually start paying off the debt. Default wouldn't be the way to go about it. It will affect the world economy, not just ours in the states.

dcarr67

Who do you guys hold responsible for this - the republicans? It's horrible that that the situation makes ordinary people worry... life's hard enough.

Every single elected official in Washington!!!!!! I wish we could throw them all out and start over.

Is it true that THEY'RE still getting paid even though their staff aren't?

They are like the rest of the government that is working right now. They are not getting paid until there is money appropriated to pay them.

Hildy_J

I didn't know Obamacare would bust the (pre-agreed) spending caps. Is that what the real issue is?

hananah89

Who do you guys hold responsible for this - the republicans? It's horrible that that the situation makes ordinary people worry... life's hard enough.

Every single elected official in Washington!!!!!! I wish we could throw them all out and start over.

Is it true that THEY'RE still getting paid even though their staff aren't?

yeah. its some law or whatever that Congress still gets paid even in a shutdown. which is stupid.

whierd

I didn't know Obamacare would bust the (pre-agreed) spending caps. Is that what the real issue is?

Not really. The debt ceiling was being approached anyway. We were already in a deficit anyway. It is mostly just political posturing.

Mobilemuscle

http://forums.militarytimes.com/showthread.php?1597165-No-pay-on-the-15th&s=71d106f31fe71346f8823c782464f6dd

start not paying the guys with the guns and things will get ugly quick

scottkjar

One wonders how the Founding Fathers would view the whole thing.

Thomas Jefferson (author of the Declaration of Independence and the3rd President of the U.S.) and James Madison (principal architect of the Constitution and 4th President of the U.S.) authored a series of state laws commonly called The Kentucky and Virginia Resolutions, passed by the legislatures in those states. These resolutions declared that certain federal government laws were null and void, and could not be enforced in those states. In other words, the states of Kentucky and Virginia shut down the federal government activities in their states.

When Jefferson became president in 1801 and Madison became Secretary of State, they refused to honor last-minute appointments made by John Adams. This led to the famous court case Marbury vs Madison in which Marbury claimed that Madison, as Secretary of State, effectively shut down the Department of State in order to avoid doing the things that he was legally required to do.

Sam Adams was a rabble rouser who was known to terrorize the local government officials in and around Boston before the American Revolution. His most notable actions involved getting people drunk at his bar and then rousing them to go tear down the houses of government officials. Eventually, most government officials resigned or fled, and the government was shut down in the Boston area for extended periods of time.

Shut down the government? Those guys seemed to think it was a good idea. They even threw (dare I say it) a Tea Party to prevent the government from collecting taxes on tea!