US closer to 'catastrophic' default

US closer to 'catastrophic' default

There are 118 comments on the NEWS.com.au story from Oct 6, 2013, titled US closer to 'catastrophic' default. In it, NEWS.com.au reports that:

House Speaker John Boehner of Ohio has ruled out voting on a straightforward bill to reopen the government.

Join the discussion below, or Read more at NEWS.com.au.

Since: Dec 07

Spring, TX

#47 Oct 7, 2013
Huh wrote:
GOP wont be happy until the rich are richer and the poor are dead and the working class is also dead....to the rich GOP types profits come before nation.
There are more rich democrats than republicans, dignleberry. And THEY pay less taxes than anyone...

An analysis of the Top 20 Richest People in America (from Forbes Top 100) reveals that a full 60% are actually Democrats. Furthermore, if you look at it from a “family” point of view and not as individuals, that ratio widens even further to: 25% Republican / 75% Democrat

Democrats outweigh Republicans. Not only in terms of the number of uber-millionaires, but also with their net worth. In this Top 20 group, Democrats have a combined net worth of $263.1 billion dollars while the Republicans have a combined net worth of only $143.9 billion dollars – almost half that of Democrats.

go after them first.......then we'll talk!! LMAO

Since: Dec 07

Spring, TX

#48 Oct 7, 2013
WeTheSheeple wrote:
<quoted text>
Actually the economy has been recovering since '09 under President Obama's leadership.
It's been recovering under republican leadership in certain states.....oblubmer gets to add that to a national average and makes false claims that he has something to do with it...hilarious.
sandy1

Southold, NY

#49 Oct 7, 2013
WeTheSheeple wrote:
<quoted text>
Actually the economy has been recovering since '09 under President Obama's leadership.
The amount of people on welfare has increased under the tyrant. As of Nov 2012 welfare increased by 32% and will contine to go up due to job loss and hours cut compliments of obamacare. Sorry, but you can't blame Bush for this.

Since: Dec 07

Spring, TX

#50 Oct 7, 2013
WeTheSheeple wrote:
<quoted text>
Actually the economy has been recovering since '09 under President Obama's leadership.
http://rustycowgirls.com/media/catalog/produc...

Economy is recovering but at a painfully slow pace. Obama has done nothing extraordinary to make the recovery speedier. The economy is going through the usual phases of bulls and bears.

Economy can only recover if the global market recovers which is not in any single President's or Prime Minister's hands.

The condition in developed countries like US, UK etc is particularly bad and China, India, Brazil's economies have proved more resilient during this recession due to savings-oriented nature of people living in these countries.

http://www.usnews.com/opinion/blogs/peter-rof...

Get off the obamaganda wagon, sheeple. The wheel is broke!! LMAO

Since: Dec 07

Spring, TX

#51 Oct 7, 2013
Responsibility wrote:
<quoted text>
Silly folks like you think he is king, others know better when they voted him in TWICE as president.
Boehner could simply reopen the government today if he allowed a vote on a clean funding measure
Come on, Boehner ....
http://4.bp.blogspot.com/-jtBtbyO8cJs/T7fDuAl...

Since: Mar 09

The Left Coast

#52 Oct 7, 2013
WeTheSheeple wrote:
<quoted text>
Actually the economy has been recovering since '09 under President Obama's leadership.
If you're talking about the number of people on welfare, sure, Obama has done a great job. Unemployment and the average income, not so much. I will give you this, Obama has done far better at foreign relations than he has done at home. He really needs a third term to start bringing things around, I mean what can he do in 8 years.
Debts Collector

Fishers, IN

#53 Oct 7, 2013
Bill Gross wil buy all Dr. Obama Bond aids on Oct. 18;-000
Mothra

United States

#54 Oct 7, 2013
sandy1 wrote:
<quoted text>
The amount of people on welfare has increased under the tyrant. As of Nov 2012 welfare increased by 32% and will contine to go up due to job loss and hours cut compliments of obamacare. Sorry, but you can't blame Bush for this.
Real measurements of the Obama economy, 2008 to 2012:

People Receiving Food Stamps (SNAP)
+61.9%

Percent US Pop. Receiving SNAP
+60.9%

Food Stamp (SNAP) Expenditure
+107.7%

People Living In Poverty
+16.7%

Median Family Income
-4.9%

Overall Unemployment Rate
+26.1%

Black Unemployment Rate
+49.4%

Median Weeks Unemployed
+123.3%1

Personal Savings Rate
-27.8%

Federal Discretionary Spending as % of GDP
+7.6%

Federal Mandatory Spending as % of GDP
+29.7%

Cumulative Public Debt
+113.0%

Read more: http://www.americanthinker.com/2013/09/obamas...

"[T]he DJIA index value is arbitrarily defined by the stocks represented. So, just like the unemployment rate, the DJIA value can be manipulated."

see link for discussion and figures
amcummer

Minneapolis, MN

#55 Oct 7, 2013
Eleanor wrote:
<quoted text>
Raising the debt ceiling, raises the COST associated with borrowing money.
Increasing the debt ceiling every time GUARANTEES that eventually the government will OWE AS MUCH IN INTEREST as it needs to run the government.
At that point, borrowing MORE MONEY will not amount to actually HAVING the money to use. At some point ALL the borrowed money will go to PAY THE INTEREST on the money.
Maybe the brilliant doctor in economics thinks that the debt holders will never collect their money but if they do the fed will just cut a big fat checks worth $17,000,000,000,000.00. Some have the nerve to play it like those scammers on American greed in cnbc. That is the only idea, it is constant unless their is a catastrophic event that would wipe out the living things on earth.
sandy1

Southold, NY

#57 Oct 8, 2013
Mothra wrote:
<quoted text>
Real measurements of the Obama economy, 2008 to 2012:
People Receiving Food Stamps (SNAP)
+61.9%
Percent US Pop. Receiving SNAP
+60.9%
Food Stamp (SNAP) Expenditure
+107.7%
People Living In Poverty
+16.7%
Median Family Income
-4.9%
Overall Unemployment Rate
+26.1%
Black Unemployment Rate
+49.4%
Median Weeks Unemployed
+123.3%1
Personal Savings Rate
-27.8%
Federal Discretionary Spending as % of GDP
+7.6%
Federal Mandatory Spending as % of GDP
+29.7%
Cumulative Public Debt
+113.0%
Read more: http://www.americanthinker.com/2013/09/obamas...
"[T]he DJIA index value is arbitrarily defined by the stocks represented. So, just like the unemployment rate, the DJIA value can be manipulated."
see link for discussion and figures
Thank-You, Mothra for the actual figures and the link. This is great information.
Huh

Faribault, MN

#58 Oct 8, 2013
Do you knoe cut off every pennie going to other natiosn ended allw ars and police actions and closed 2/3 of the 700-900 military bases in other nations and ended the following agencies and laws that apply to them...DEA NEA TSA ATF FCC....Now if that was all done our nation would be safer stronger and with money saved from those cuts could pay off our nation debt in 15 years.

Since: Apr 09

Location hidden

#59 Oct 8, 2013
Huh wrote:
Do you knoe cut off every pennie going to other natiosn ended allw ars and police actions and closed 2/3 of the 700-900 military bases in other nations and ended the following agencies and laws that apply to them...DEA NEA TSA ATF FCC....Now if that was all done our nation would be safer stronger and with money saved from those cuts could pay off our nation debt in 15 years.
Dude...what?
Robert

Douglasville, GA

#60 Oct 8, 2013
First the media started calling the slow down of 17% of the federal government a shut down, now an imagined default is a catastrophic default. The only thing we are doing by not raising the ceiling is not borrowing money, we still have about 60% of the money needed to cover the budget coming in. The interest on the national debt only takes up about 6% of our budget.

It is very interesting to watch though because it gives you a preview of what is to come if the politicians keep getting their way. The day will come when we are talking about not being able to pay the debt not because we can't agree but because it is not longer only 6% of our budget and we can't find the money.
STD free

United States

#61 Oct 8, 2013
Vote everyone out of office. Obama I meant bumbling Obummer cannot run again thankfully and hopefully secret service puts him in shipping container back to Kenya!!!!!!
STD free

United States

#62 Oct 8, 2013
WeTheSheeple wrote:
<quoted text>Actually the economy has been recovering since '09 under President Obama's leadership.
20 trillion in debt are you terminally stupid?????!!!!!
STD free

United States

#63 Oct 8, 2013
RustyS wrote:
<quoted text>If you're talking about the number of people on welfare, sure, Obama has done a great job. Unemployment and the average income, not so much. I will give you this, Obama has done far better at foreign relations than he has done at home. He really needs a third term to start bringing things around, I mean what can he do in 8 years.
He can only run twice dumb ass!!!!!
serfs up

Ormond Beach, FL

#65 Oct 8, 2013
Mothra wrote:
<quoted text>
Real measurements of the Obama economy, 2008 to 2012:
People Receiving Food Stamps (SNAP)
+61.9%
Percent US Pop. Receiving SNAP
+60.9%
Food Stamp (SNAP) Expenditure
+107.7%
People Living In Poverty
+16.7%
Median Family Income
-4.9%
Overall Unemployment Rate
+26.1%
Black Unemployment Rate
+49.4%
Median Weeks Unemployed
+123.3%1
Personal Savings Rate
-27.8%
Federal Discretionary Spending as % of GDP
+7.6%
Federal Mandatory Spending as % of GDP
+29.7%
Cumulative Public Debt
+113.0%
Read more: http://www.americanthinker.com/2013/09/obamas...
"[T]he DJIA index value is arbitrarily defined by the stocks represented. So, just like the unemployment rate, the DJIA value can be manipulated."
see link for discussion and figures
Reality is the truth. But with propaganda the shills that populate our nation doles out to the people including the progressive ones on this site, we are hoodwinked. But not anymore. And they don't like it. Good info.
amcummer

Minneapolis, MN

#66 Oct 8, 2013
All I know is we are getting bombarded with BS it seems like everything are all lies and scams.

“Headed toward the cliff”

Since: Nov 07

Tawas City, Michigan

#67 Oct 8, 2013
Bluebonnets-Thistle wrote:
<quoted text>
http://rustycowgirls.com/media/catalog/produc...
Economy is recovering but at a painfully slow pace. Obama has done nothing extraordinary to make the recovery speedier. The economy is going through the usual phases of bulls and bears.
Economy can only recover if the global market recovers which is not in any single President's or Prime Minister's hands.
The condition in developed countries like US, UK etc is particularly bad and China, India, Brazil's economies have proved more resilient during this recession due to savings-oriented nature of people living in these countries.
http://www.usnews.com/opinion/blogs/peter-rof...
Get off the obamaganda wagon, sheeple. The wheel is broke!! LMAO
Correct, the economy is recovering under President Obama's leadership, just like I said.
Mothra

United States

#69 Oct 8, 2013
WeTheSheeple wrote:
<quoted text>
Correct, the economy is recovering under President Obama's leadership, just like I said.
Some recovery...

Real measurements of the Obama economy, 2008 to 2012:

People Receiving Food Stamps (SNAP)
+61.9%

Percent US Pop. Receiving SNAP
+60.9%

Food Stamp (SNAP) Expenditure
+107.7%

People Living In Poverty
+16.7%

Median Family Income
-4.9%

Overall Unemployment Rate
+26.1%

Black Unemployment Rate
+49.4%

Median Weeks Unemployed
+123.3%1

Personal Savings Rate
-27.8%

Federal Discretionary Spending as % of GDP
+7.6%

Federal Mandatory Spending as % of GDP
+29.7%

Cumulative Public Debt
+113.0%

Read more: http://www.americanthinker.com/2013/09/obamas ...

"[T]he DJIA index value is arbitrarily defined by the stocks represented. So, just like the unemployment rate, the DJIA value can be manipulated."

see link for discussion and figures

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