Question to all US orgahs 40+ years and older

[a completely inoffensive name]

Talks have failed yet again and from what I have read, the real deadline for the default was the 22nd when factoring in the length of time it takes even a rushed bill to get written, passed through committee then Congress and placed on the presidents desk to sign.

I need your experience older orgahs, should I, an inexperienced 19 year old, start to get worried, or is this a last minute saved kind of situation that I just have not seen before due to my youth?

From what I can tell, Boehner wants to deal but the Tea Party members don't even want to play ball. Obama says there are those that feel it is best if the US defaults. Obama is giving a deal to cut 1 trillion from discretionary and even ~680 billion from social programs. That's huge, that's bailout bill huge. And the Republicans are still walking? I don't even understand the incentives behind these actions anymore.

[Major Robert Dump]

The end is nigh. When government hands are inexplciably intertwined in the goings on of industry, the government will not let the industries fail as would normally happen in a capitalist country, and public money is used for the personal gain and continuity of businesses who cannot even manage their own affairs, although small businesses and private citizens are thrown to the wolves in similar situations.

Hold on to your money, dude. Buy things that are real. Liquid Assets, not intangible derivitives. Learn a real trade, study something tangible (at the risk of sounding like WarMan).

But what do I know, I'm only 36

[Strike For The South]

[a completely inoffensive name]

But what do I know, I'm only 36

Close enough for me.

[Skullheadhq]

Or move to Western Europe? But hey, what do I know, I'm only 16.

[Adrian II]

I'm selling my kids as we speak. Better safe than sorry.

AII

[Louis VI the Fat]

should I, an inexperienced 19 year old, start to get worried, or is this a last minute saved kind of situation that I just have not seen before due to my youth?

It is new. I can not think of instance in the past few decades where a large political party was willing to risk American stability for the sole purpose to obstruct and undermine an adminidstration. I wish the Republicans would just content themselves with obstruction attempts over some voluntary sex, or not, with some intern.


The Republican party is no longer about American interests, but about party interests. Irresponsible bunch. The American political system has always required common consent, moderation, republican values of responsible citizenship. It has functioned for two hundred years precisely because this way it prevents a single party from amassing all power. It does require that all political actors behave as adults, with the best interest of the republic in mind.

[Banquo's Ghost]

The Republican party is no longer about American interests, but about party interests. Irresponsible bunch. The American political system has always required common consent, moderation, republican values of responsible citizenship. It has functioned for two hundred years precisely because this way it prevents a single party from amassing all power. It does require that all political actors behave as adults, with the best interest of the republic in mind.

This is my view as well. The Constitution of the United States is one of the most impressive documents ever written and influenced by some of the greatest political minds and philosophical environments that humanity has produced. The governance of a free and democratic people requires leaders that value public service and the greater good higher than any personal ideal. The Constitution provides a structure whereby that responsibility can be discharged by adults who may disagree, but understand the need to debate and find agreement to the common good. It also demands an educated and politically active, yet responsible, electorate.

What we have is a kindergarten full of spoiled children. And government of the people, for the people, by the people is doomed to irrelevance in the face of Chinese statist corporatism unless someone wakes up. This is why you people have a Second Amendment, not for the purposes of willy-waving at neighbours.

I was particularly taken by the below quote from the Guardian:

Ross Baker, professor of politics at Rutgers University, compared the US economy, with its huge debt, to a patient who needs both first aid and long-term care.

"The Democrats are the first-aid squad with their concern over the lack of money to stimulate the economy and produce jobs. The Republicans are in charge of the long-term care facility with their preoccupation with multi-generational debt levels," Baker said.

Seems to be right on the money, except that both sides are far too interested in arguing about whose uniform is best while the patient expires on the pavement.

[Louis VI the Fat]

"The Democrats are the first-aid squad with their concern over the lack of money to stimulate the economy and produce jobs. The Republicans are in charge of the long-term care facility with their preoccupation with multi-generational debt levels," Baker said.

Asuming this is so, were I the patient, I'd kindly request the long term squad to please drop dead so the first-aid squad can administer my emergency attention.

[Banquo's Ghost]

Asuming this is so, were I the patient, I'd kindly request the long term squad to please drop dead so the first-aid squad can administer my emergency attention.

Indeed.

And one might argue that in the last thirty years or so, the best long-term care plan was actually implemented by President Clinton, after which the recovering patient was summarily and ritually kneecapped by Bush.

[TinCow]

I'm only 32, but I'm very nervous. If they do not agree, this will be very bad for everyone. No one will escape. Maybe we can survive if the default only last a couple days before the cap is raised, but if goes on for longer than that the repercussions will be enormous. We will plunge right back into a recession much deeper than we pulled out of 2 years ago. And this time, the government will be completely incapable of taking action to bring us out of it.

I am currently having serious discussions with my wife and financial experts about when to pull my investments. I do not want to have market exposure on the day of the default.

[Crazed Rabbit]

Indeed.

And one might argue that in the last thirty years or so, the best long-term care plan was actually implemented by President Clinton, after which the recovering patient was summarily and ritually kneecapped by Bush.

Clinton managed to balance the budget, but I think long term entitlements (social security and medicare) still would've come up as they are now.

Ross Baker, professor of politics at Rutgers University, compared the US economy, with its huge debt, to a patient who needs both first aid and long-term care.

"The Democrats are the first-aid squad with their concern over the lack of money to stimulate the economy and produce jobs."

Good grief. Can we finally agree on the failure of Keynesian economic 'stimulation' by government spending?

More government spending to "create jobs" is a waste that just piles more debt on our children.

Programs need to be cut, and Obama is going against the Simpson-Bowles commission recommendations on how much to cut (Obama wants a lot less) and the GOP is refusing to raise taxes.

Some perspective from a Pulitzer prize winning journalist;

Yes, our elected leaders are "feeling the heat, " but is this really fair? Should the public tar all of the apples in the political barrel with the same broad brush just because a few rotten eggs are crying over spilt milk? Of course not. The truth is that there are a great many politicians who are honest, trustworthy, intelligent, hard-working, decent and competent. Unfortunately, they are all located on the planet Zoombah. The ones here on Earth are dumpsterheads.
Consider, for example, their recent concerted effort to reduce the pesky federal budget deficit, which, shockingly, continues to mount despite the fact that both major political parties have issued sternly worded position papers against it. Day after day, week after week, the top brains of Congress and the Bush administration sat in a conference room, eating prune Danish supplied by the Prune Danish Division of the Bureau of Pastries of the U.S. Department of Refreshments at a cost of $2,350 per slice.
"What should we do about this pesky budget deficit?" the leaders asked, crumbs of concern dribbling from their mouths. "How can we reduce it? If only we had an idea! If only we could think
of . . . "
"SPEND LESS MONEY, YOU CRETINS!!" shouted a group of cockroaches, who had been listening from the floor and managed to figure out the solution despite the handicap of not being top political brains. Unfortunately, however, our political leadership is not responsive to cockroaches, unless of course they operate savings-and-loan institutions.

So the government does not appear to be working, and the public is sick of politicians, with their bloated campaign budgets and their slick, phony TV commercials. But the tide is starting to turn. That is the beauty of democracy. More and more politicians, finally getting the message, are using their bloated campaign budgets to produce slick, phony TV commercials in which they deny that they are politicians. You've probably seen these:
(The screen shows a candidate with his sleeves rolled up, pretending to talk with a group of factory workers.)
ANNOUNCER: Morton Lamprey is not a politician. Morton Lamprey has no interest in politics. That's why Morton Lamprey spent $287,000 to make this commercial.
CANDIDATE: I'm Morton Lamprey, and because I am not a politician I constantly hang out with ordinary workers, informally rolling up my sleeves and holding exactly the same opinions as they do about everything. Sometimes I even touch them. (He touches a worker.)
ANNOUNCER: Let's help Morton Lamprey continue the fight against insider "fat-cat" politics-as-usual that he's been waging for 17 consecutive terms in office.
(One of the workers throws a rock, which bounces harmlessly off the candidate's hair spray.)
CANDIDATE (to an aide): Have that worker shot.
ANNOUNCER: Morton Lamprey. He's just like you, assuming that you have a media adviser. Morton Lamprey. Notice how sincerely I say his name. I also do the Infiniti commercials.

From 1990 but relevant today.

More importantly, reaching the debt limit isn't bankruptcy or insolvency - it just means the US can't keep burrowing to fund the difference between what it takes in and what it spends, like maxing a credit card. The government will still have money to fund important programs, just not all programs.

CR

[Kralizec]

Indeed.

And one might argue that in the last thirty years or so, the best long-term care plan was actually implemented by President Clinton, after which the recovering patient was summarily and ritually kneecapped by Bush.

Clinton only managed to get a surplus in two of the eight years he was in office. It's rather telling that his administration is cited as an example of fiscal responsibility.

EDIT: I'm only 24 but my guess is that both sides are consciously exploiting all the time they have to get the most out of it. Shortly before the deadline Obama and the HoR republicans will somehow reach a compromise and the debt ceiling will be raised.

[Centurion1]

This is my view as well. The Constitution of the United States is one of the most impressive documents ever written and influenced by some of the greatest political minds and philosophical environments that humanity has produced. The governance of a free and democratic people requires leaders that value public service and the greater good higher than any personal ideal. The Constitution provides a structure whereby that responsibility can be discharged by adults who may disagree, but understand the need to debate and find agreement to the common good. It also demands an educated and politically active, yet responsible, electorate.

What we have is a kindergarten full of spoiled children. And government of the people, for the people, by the people is doomed to irrelevance in the face of Chinese statist corporatism unless someone wakes up. This is why you people have a Second Amendment, not for the purposes of willy-waving at neighbours.

I was particularly taken by the below quote from the Guardian:

Ross Baker, professor of politics at Rutgers University, compared the US economy, with its huge debt, to a patient who needs both first aid and long-term care.

"The Democrats are the first-aid squad with their concern over the lack of money to stimulate the economy and produce jobs. The Republicans are in charge of the long-term care facility with their preoccupation with multi-generational debt levels," Baker said.

Seems to be right on the money, except that both sides are far too interested in arguing about whose uniform is best while the patient expires on the pavement.

Keynesian Economics are not the be all end all.

[ICantSpellDawg]

I don't hate Obama, he's been doing a pretty decent job, given the circumstances. I think quite a few people don't like what the united states has become. We've doused ourselves in gasoline and given the match to those same people. You live once, im curious to see what will happen when we default or force a restructuring. We still have some semblance of infrastructure and a large workforce. People should be working for half of their current wages. And they will, once the federal government gets furloughed for a few years. It is time to play hardball with the american laxplayer.Sell your houses, turn off your tvs and lose some weight. You want fair completion in the global economy? Prepare to meet the global worker on their level.