JoeShmoe wrote:
If we don't raise the debt ceiling we will default on our obligations, and defaulting on ANY obligation is default, period. Let me say it another way: congress has already guaranteed to pay certain services - social security, the military, etc, and NOT paying those guarantees is default. We won't suddenly come to "live within our means," as certain republicans seem to think.
Imagine you're looking at the things you've bought this month - car payment, mortgage, school fees, taxes, etc, and you don't have enough money to pay for it all. Do you decide to only pay for the "essential" (however you define that) things, and then magically "live within your means" all of a sudden? No! You've already bought that stuff, and now need to find a way to pay for it. Not paying for any one specific thing will shaft your credit and really screw your future payments. Le sigh.
Okay, well you knew when you took the mortgage, car loan, etc that you would have to pay for them right? Please tell you knew that. So why did you keep running up your loans so much that you couldn't pay for any?
And please stop trying to sell the word 'default'. People see through the smoke screen. If the debt ceiling isn't increased we'll have to get by with less, plain and simple.