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Debt Default Would Cause Harm To Everyone

October 20, 2013

To The Reader’s Forum: The discussion of the nation’s debt ceiling and growing talk of a potential default on U.S. debt obligations is not just an issue for Wall Stree....

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(9)

Psychofux

Oct-27-13 7:34 AM

Which was the only president to create a surplus? Oh yeah, Clinton. gwbush then proceeded to eliminate that. "Give it back to the people," and not pay down the debt, and deficits don't matter, and look where we are. Which of you idiots think that our debt is from the Democrats? Why do Republicans hate America?

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Psychofux

Oct-27-13 7:34 AM

Which was the only president to create a surplus? Oh yeah, Clinton. gwbush then proceeded to eliminate that. "Give it back to the people," and not pay down the debt, and deficits don't matter, and look where we are. Which of you idiots think that our debt is from the Democrats? Why do Republicans hate America?

0 Agrees | 1 Disagrees | Report Abuse »

50s4ever

Oct-23-13 10:52 AM

Why are people satisfied with paying the interest on a debt, not paying it off? That's basic economics.

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50s4ever

Oct-23-13 10:51 AM

Gee...dumb as I am I believe when the rest of the world quits using the dollar as world currency, we're done for. Nobody's going to loan us anything. But how can such logic survive the economic genius of David of Va?

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DavidVA

Oct-22-13 4:42 PM

@50s4ever & jamestownbob -

Do yourselves a favor. Don't argue macroeconomics. You don't have the tools.

FWIW, the debt held by the issuer of the currency it's denominated in can always pay its bills ... unless it's restricted by some foolheaded law. And no, the interest on the debt is no more a demand on the nation than a bill for toiletpaper ordered by GSA.

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MacKenzie

Oct-22-13 4:18 AM

50's and jamestownbob, I was excoriated on my posted comments to another letter for saying the same thing. You are both correct. Too bad there is such ignorance out there.

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jamestownbob

Oct-20-13 12:13 PM

There was never a chance of default! Debt is paid first! Smoke and mirrors people!

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Larry1

Oct-20-13 10:04 AM

We're in a debt crisis and today's paper says that we are giving $1.6 BILLION to Pakistan!!! Why don't we take care of our own problems first???

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50s4ever

Oct-20-13 6:28 AM

Really? The other alternative is forced depression by our insistence on having no ceiling on our debt, and wake up discovering the rest of the world put a screeching halt to it. It's like intervention on an addicted child.

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