5

Debt ceiling "default" is a myth

http://onlyliberty.wordpress.com

We’ve all heard the news over the past week; Members of congress and the worlds largest news organizations have been hammering the claim that “if the debt ceiling isn’t raised, the federal government will go into default and our credit rating will drop, resulting in through-the-roof taxes and economic armageddon throughout the world!”. Is this true or a myth? The answer is: it’s a myth. And its obvious right on it’s face.

Read »
aoner1's picture
Created by aoner1 2 years 37 weeks ago – Made popular 2 years 37 weeks ago
Category: Economics   Tags:

what is sad is how many

2manyusernames 2 years 37 weeks 5 days 9 hours ago

what is sad is how many people believed the blatant lie that failing to increase our debt limit would cause us to default. I would so love for politicians to face severe penalties for lies. Think of it this way. You have a $1000 limit credit card. Your monthly payment is $35. You have charged $1000. The fact that the credit card company does or does not raise your limit so you can borrow more on the card has zero to do with your ability to make the monthly payment owed. Would it cause the government to spend money on things promised? Yes it would, but that is not what "default" means as a financial term.

Air Times & Contact

LIVE 7 Days a Week!
Mon-Sun: 7pm-10pm Eastern

Call toll-free:
1-855-450-FREE

You can also Skype us.

Join our Email List

Stay up to date with the latest about Free Talk Live, and receive our Weekly Digest email - the most popular stories for the week from our front page and also the week's audio highlights!

See our past emails.


Free Talk Live 2.5

Welcome Free Talk Live 2.5! Now, with Reddit!
 
You'll need a Reddit account before you can vote on and submit show prep. (That is different from your FTL/AMP account.)

The content here is the same as you will see on the FTL Subreddit. Please submit bug reports on the appropriate BBS subforum.

Enjoy the new site and thanks for submitting your content!

Google+

New forum topics

Recent Posts Recent Posts

Who's online

There are currently 0 users and 0 guests online.
Honey