US Debt Limit

[AlaskaHunter]

BlackRock Vice Chair Philipp Hildebrand warned at the Bloomberg New Economy Gateway Europe Forum on Thursday that default would undermine “a basic anchor” of the world’s financial system and “must not happen.”
“All we can do is to pray that everyone in the United States understands how important the sanctity of the sovereign signature of the leading currency, of the leading bond market, of the leading economy in the world is,” Hildebrand said.

 

[BackofBeyond]

Just something about playing political chicken with the full faith and credit of the US Government just seems like a bad idea to me. On both sides.

 

[MThuntr]

BlackRock aka the investment group that owns all the shares of the corporations (even a significant portion of Vanguard investments) that pay all the lobbyists that control the government BlackRock? Maybe they could do something for the world vs controlling everything

 

[TN2shot07]

At what point does it get addressed?

What happens if China decides they no longer want to own any treasury notes?

 

[np307]

 

[BigHornRam]

At what point does it get addressed?

What happens if China decides they no longer want to own any treasury notes?

Handle it the way politicians always handle these types of issues. Wait till it becomes a big $*)Q!#@$ mess, and blame it on the other guys.

 

[TN2shot07]

Handle it the way politicians always handle these types of issues. Wait till it becomes a big $*)Q!#@$ mess, and blame it on the other guys.

That’s exactly what I’m afraid of. No matter where anybody points the finger eventually that bill will come due and it won’t be pretty

 

[Deleted member 28227]

At what point does it get addressed?

What happens if China decides they no longer want to own any treasury notes?

Japan

 

[BigHornRam]

Japan

Soon to be called Eastern China Territory.

 

[BigHornRam]

Maybe this explains why the Blackrock Vice Chair is his pants?

President Xi Jinping Holds China-France-EU Trilateral Meeting with French President Emmanuel Macron and European Commission President Ursula von der Leyen

 

[AlaskaHunter]

Just something about playing political chicken with the full faith and credit of the US Government just seems like a bad idea to me. On both sides.

Yes. Look at the political chicken played in the house before McCarthy was finally elected as speaker.

 

[BigHornRam]

Left leaning politico analysis. Take it for what it's worth.

A debt limit fight helped Democrats in 2011. This time, it’s no guarantee.

An impasse could hurt Biden if it supplants more Democratic-friendly issues like abortion in the news.

www.politico.com

 

[SAJ-99]

Left leaning politico analysis. Take it for what it's worth.

A debt limit fight helped Democrats in 2011. This time, it’s no guarantee.

An impasse could hurt Biden if it supplants more Democratic-friendly issues like abortion in the news.

www.politico.com

"That’s a mixed bag of public opinion: 54 percent of Americans opposed raising the debt ceiling in a new CBS News/YouGov poll this week, but that number dropped to only 30 percent when respondents were asked if they would let the U.S. default."

So 54% of Americans don't understand economic stuff, 30% are so adamant in their stupidity that they want to destroy the global economy. Good sign of where we are in this country.

 

[BackofBeyond]

"That’s a mixed bag of public opinion: 54 percent of Americans opposed raising the debt ceiling in a new CBS News/YouGov poll this week, but that number dropped to only 30 percent when respondents were asked if they would let the U.S. default."

So 54% of Americans don't understand economic stuff, 30% are so adamant in their stupidity that they want to destroy the global economy. Good sign of where we are in this country.

Scary, innit.

 

[BigHornRam]

Scary, innit.

So which Joe is going to buckle?

Manchin slams Biden for ‘deficiency of leadership,’ applauds McCarthy debt plan

Sen. Joe Manchin (D-W.Va.), who faces reelection in a Republican-leaning state, on Thursday slammed President Biden for showing “a deficiency of leadership” on a potential national default and appl…

thehill.com

 

[BackofBeyond]

So which Joe is going to buckle?

Manchin slams Biden for ‘deficiency of leadership,’ applauds McCarthy debt plan

Sen. Joe Manchin (D-W.Va.), who faces reelection in a Republican-leaning state, on Thursday slammed President Biden for showing “a deficiency of leadership” on a potential national default and appl…

thehill.com

Who gives a shit who buckles? I for one don’t. Manchin is only trying play the political theater of “look, I’m still relavant! Re-elect me!!!”

It’s the full faith and credit of the US Government. It’s not a bargaining chip, it’s not about saving face, it’s the last thing R’s and D’s should be having a pecker measuring contest over.

The fact that 54% of our fellow citizenry doesn’t understand that is scary to me. But back to the bread and circuses - did you see what Tucker Carlson said about Don Lemon??? OMG!!!

 

[BigHornRam]

Who gives a shit who buckles? I for one don’t. Manchin is only trying play the political theater of “look, I’m still relavant! Re-elect me!!!”

It’s the full faith and credit of the US Government. It’s not a bargaining chip, it’s not about saving face, it’s the last thing R’s and D’s should be having a pecker measuring contest over.

The fact that 54% of our fellow citizenry doesn’t understand that is scary to me. But back to the bread and circuses - did you see what Tucker Carlson said about Don Lemon??? OMG!!!

The fact that we continue to spend money we don't have. That the annual interest on our debt is now about equal to what we spend on our military. That inflation is nowhere near in control, that Social Security and Medicare are close to insolvency are issues that scare me. The full faith and credit of our Government are in serious jeopardy with the path we are currently on.

 

[brymoore]

The fact that we continue to spend money we don't have. That the annual interest on our debt is now about equal to what we spend on our military. That inflation is nowhere near in control, that Social Security and Medicare are close to insolvency are issues that scare me. The full faith and credit of our Government are in serious jeopardy with the path we are currently on.

Absolutely and neither political party cares. Both spend money as freely as the other party just on different categories.

I see no solution to this problem in this country. The only hope is that the country continues to grow our GDP enough to support the interest wrecking ball. At least that the rest of the world sucks as bad as we do.

Rome is burning.

 

[homers]

Look at a chart of the national debt and see the astonishing rise since 2001, then another incline 2008 and the past 5 years. Debt went up about $10T in the past few years. Not an income problem but a massive, out of control, spending problem. I don’t see either party addressing this nor do I see anyone who wants to cut spending getting elected. Eventually, there won’t be enough money to buy T Bills and it will collapse in a very quick time period. Massive Depression and reset.

 

[SAJ-99]

The fact that we continue to spend money we don't have. That the annual interest on our debt is now about equal to what we spend on our military. That inflation is nowhere near in control, that Social Security and Medicare are close to insolvency are issues that scare me. The full faith and credit of our Government are in serious jeopardy with the path we are currently on.

Raise taxes, cut or delay social benefit programs, restructure social support payments to get people back working, etc. The reason these things don’t happen is because voters don’t want to pay the bills.