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this cat knows what he's talking aboutOriginally Posted by rashi
Originally Posted by CallHimAR
Originally Posted by rashi
This "debt ceiling" argument only proves this country's ignorance.
1. This country has defaulted many times.
2. Obama is lying when he says people won't get Social Security checks or the military won't get paid
3. He's lying because the government allocates enough revenue via taxes to pay their obligations plus interest on the debt they owe
4. Little known secret is that YOU are not entitled to Social Security, Medicare, ect. So they do not have to appropriate money for those programs
5. The only people who will be affected by a "default" are lobbyists
The United States has only defaulted on its debt twice. This is only if you count 1790, right after the Revolution, and 1933, where they didn't actually default but seemingly tried to inflate their way out of debt. So again, you're spewing lies and people on this site are lapping it up. Try not to eat up everything Paul Ryan says please.
Um, yeah.
1. Continental-Currency default
2. Greenback default
3. Continental Domestic loan default
4. Liberty Bond default
5. Defaulted in 1979
3 times this past century alone: 1934 by eliminating the ownership of gold devaluing dollar holdings , again between 1934-1971 because Congress refused to redeem silver certificates, and again because Nixon ended the gold standard via Bretton Woods.
I would suggest you brush up on your history beyond your public school revisionist history lessons, thanks. And no, I don't "eat up" what Paul Ryan, whoever that is. Only people economically illiterate as you would only believe to "pay off" a debt worth more than $125+ trillion in unfunded liabilities and projected costs in federal programs is to increase the spending with worthless money. We should print these up.