Quote:
Originally Posted by MS Fowler
I guess I failed to be clear enough.
I was not saying that default wouldn't be so bad. In fact, as you quoted, i said, "default would be bad".
What I was saying is that failing to raise the credit limit does not automatically mean we default on the loans. There are other options--we can continue to pay the interest.
Its about time we understand that we cannot spend 140% of our income.
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I did misread your previous post. I think I got thrown off by the reference to "democrat hysteria."
That said, I disagree with your priorities. The debt and deficit are problematic, but are not a crisis. Unemployment is the crisis. We should be investing, not cutting. Like this guy says:
http://www.washingtonpost.com/opinions/want-to-avoid-another-depression-try-understanding-the-first-one/2011/07/07/gIQAbKlx6H_story_1.html