BMW M3 Forum (E90 E92)

BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read


Go Back   M3Post - BMW M3 Forum > BIMMERPOST Universal Forums > Off-Topic Discussions Board > Politics/Religion
 
INDustry distribution
Post Reply
 
Thread Tools Search this Thread
      06-03-2011, 11:21 AM   #45
Echo M3
Major
 
Drives: E90 M3
Join Date: Sep 2009
Location: NY

Posts: 1,431
iTrader: (0)

I think there is a lot of misinformation circling around this thread.

If the government fails to raise the debt limit, the results will be catastrophic. And I don't say that lightly. Any financial or economic expert will tell you this.

What happens in that situation? It no longer becomes an issue of if we can borrow more money or not. If we fail to raise the debt ceiling, The U.S. government will default on its debt - and then, EVERYTHING stops. All current funds will have to go to pay outstanding debt due (or else risk war with countries we have outstanding debt with), which means all government services will come to a halt.

Unlike a normal corporation, the outstanding debt of the united states is enormous. To the point where, a significant proportion of our funds go toward making interest payments on our outstanding debt. So, we do not have the liberty of simply stopping any borrowing - at least until we fix our budget first, and return to budget surpluses.

What does a government halt mean, exactly? That means construction and maintenance of roads, federal emergency services, police, fire departments, air traffic control, military and national guard, coast guard, etc - it all comes to a halt. I don't care how libertarian you are, but if you think you'll be able to fend for yourself in a situation of complete anarchy, then you are a bigger idiot than I thought.

Let me follow this up by saying that I agree with the republican idea of trimming expenditures drastically. We can't continue down this path, we need to return to the budget surpluses of the '90s. But holding our nation hostage is not the way to do it. Start with the 2012 budget, but don't put the country at risk of financial collapse!
Echo M3 is offline   No_Country
0
Reply With Quote
      06-03-2011, 11:24 AM   #46
Echo M3
Major
 
Drives: E90 M3
Join Date: Sep 2009
Location: NY

Posts: 1,431
iTrader: (0)

Here is what would happen:
http://www.examiner.com/political-bu...s-into-default
Echo M3 is offline   No_Country
0
Reply With Quote
      06-03-2011, 11:28 AM   #47
KGB7
Crazy Russian Bastard
 
KGB7's Avatar
 
Drives: 01 740i sport
Join Date: Apr 2011
Location: Siberian Prison

Posts: 824
iTrader: (0)

Quote:
Originally Posted by pman10 View Post

Let it happen! Screw it all!! At least the lazy bastards in white house and congress will get off their asses and fix the issue much quicker then they would for another 10 years if we raised the limit.

If this country goes to hell, fuck it all then, let the bitch burn! Ill be still here pointing and laughing my ass off at our Govnt.


Obama talked about change for 2 years, and we will get change when his ass is on fire, literally!
__________________
B
M
W
KGB7 is offline   United_States
0
Reply With Quote
      06-03-2011, 12:09 PM   #48
ScotchAndCigar
Banned
 
ScotchAndCigar's Avatar
 
Drives: 2011 128i space gray vert
Join Date: Feb 2011
Location: New England

Posts: 817
iTrader: (0)

Quote:
Originally Posted by KGB7 View Post
Let it happen! Screw it all!! At least the lazy bastards in white house and congress will get off their asses and fix the issue much quicker then they would for another 10 years if we raised the limit.

If this country goes to hell, fuck it all then, let the bitch burn! Ill be still here pointing and laughing my ass off at our Govnt.


Obama talked about change for 2 years, and we will get change when his ass is on fire, literally!
I think you're overdue for your lithium pill.

I fail to see what Obama has to do with this. We're in this situation because losers like John Boener and Mitch McConnell feel it's more important to uphold their misguided political principles, than to make sure the govt continues to serve the American people. This has been brought about by all the knee-jerk republicans who decided that they needed to "take back our country" and vote the repubs back into congress, resulting in this stalemate.
ScotchAndCigar is offline   United_States
0
Reply With Quote
      06-03-2011, 01:01 PM   #49
KGB7
Crazy Russian Bastard
 
KGB7's Avatar
 
Drives: 01 740i sport
Join Date: Apr 2011
Location: Siberian Prison

Posts: 824
iTrader: (0)

Quote:
Originally Posted by ScotchAndCigar View Post
I think you're overdue for your lithium pill.

I fail to see what Obama has to do with this. We're in this situation because losers like John Boener and Mitch McConnell feel it's more important to uphold their misguided political principles, than to make sure the govt continues to serve the American people. This has been brought about by all the knee-jerk republicans who decided that they needed to "take back our country" and vote the repubs back into congress, resulting in this stalemate.

What you fail to see, is that its everyone's fault, not just Obama or John or Mitch. But Obama is the flag leader now.
__________________
B
M
W

Last edited by KGB7; 06-03-2011 at 01:15 PM.
KGB7 is offline   United_States
0
Reply With Quote
      06-03-2011, 01:13 PM   #50
scottwww
Brigadier General
 
scottwww's Avatar
 
Drives: 07 BMW 335i Cpe, 05 Mazda RX8
Join Date: Dec 2006
Location: USA

Posts: 4,759
iTrader: (0)

Send a message via MSN to scottwww
Cut off the credit. Withold funds. And stop robbing from the middle class to support the rest. Government will not reverse course willingly. It has never been done. The only way government shrinks is by ruin.

Hopefully the states individually will find a way to prosper as reorganization occurs in the Union. The U.S. in bankrupt. It's time to settle the debt.
scottwww is offline   United_States
0
Reply With Quote
      06-03-2011, 10:07 PM   #51
1997gtx
Lieutenant
 
1997gtx's Avatar
 
Drives: 08 328xi | 08 S5 | 02 S4
Join Date: Oct 2010
Location: CT

Posts: 530
iTrader: (0)

Yes, lets have the states have all the power. 50x every bureaucratic thing you hate. Good plan!!!
__________________
08 328xi - SOLD | 08 S5 | 02 S4
1997gtx is offline  
0
Reply With Quote
      06-04-2011, 08:31 AM   #52
xbook
Lieutenant Colonel
 
xbook's Avatar
 
Drives: '14 EBII M235i & '06 R53 GP
Join Date: Nov 2008
Location: Northridge, CA

Posts: 1,538
iTrader: (0)

Garage List
2008 E82  [0.00]
Quote:
Originally Posted by scottwww View Post
Cut off the credit. Withold funds. And stop robbing from the middle class to support the rest. Government will not reverse course willingly. It has never been done. The only way government shrinks is by ruin.

Hopefully the states individually will find a way to prosper as reorganization occurs in the Union. The U.S. in bankrupt. It's time to settle the debt.
This statement here shows how much you understand about this subject. Why don't you just advocate shutting down every power station in the US to save a couple o' bucks too.

Have you read any of the news that concerns Greece's economic problems? You want us to have what they have?
__________________
xbook is offline   Zimbabwe
0
Reply With Quote
      06-04-2011, 10:42 AM   #53
scottwww
Brigadier General
 
scottwww's Avatar
 
Drives: 07 BMW 335i Cpe, 05 Mazda RX8
Join Date: Dec 2006
Location: USA

Posts: 4,759
iTrader: (0)

Send a message via MSN to scottwww
Quote:
Originally Posted by xbook View Post
This statement here shows how much you understand about this subject. Why don't you just advocate shutting down every power station in the US to save a couple o' bucks too.

Have you read any of the news that concerns Greece's economic problems? You want us to have what they have?
There is enough on Greece that it really deserves it's own topic. You are just the man to start that discussion. If all you have on it will fit as a mere deviation within the topic of Federal Budget 2012, or to reference as support of your point, then please share. But Greece really should have a topic all it's own.
scottwww is offline   United_States
0
Reply With Quote
      06-04-2011, 12:47 PM   #54
ghosthi32
Banned
 
Drives: Water camel
Join Date: Dec 2009
Location: strait of hormuz

Posts: 2,516
iTrader: (0)

Quote:
Originally Posted by 1997gtx View Post
Yes, lets have the states have all the power. 50x every bureaucratic thing you hate. Good plan!!!
articles of confederation!!!!!


we all know how that worked
ghosthi32 is offline  
0
Reply With Quote
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -5. The time now is 09:05 PM.




m3post
Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST