politics and politicians
See other politics and politicians Articles
Title: Sen. DeMint ‘Willing’ To Cause ‘Serious Disruptions’ To U.S. Economy
Source:
RAWSTORY
URL Source: http://www.rawstory.com/rawreplay/2 ... us-disruptions-to-u-s-economy/
Published: Jul 8, 2011
Author: Stephen C. Webster
Post Date: 2011-07-08 15:28:48 by Brian S
Keywords: None
Views: 3639
Comments: 5
Sen. Jim DeMint (R-S.C.) said last night during an appearance on the conservative Fox Business channel that he is “willing” to cause “serious disruptions” to the U.S. economy in order to maintain the nation’s debt limit. “The reason the president hasn’t addressed the issue even though we knew it was facing us, and this is the fourth time he’s asked for an increase in the debt limit, he has been burning time — that’s what Biden was supposed to do is get the Republicans behind closed doors — is burn the clock up until we have a crisis,” he told Judge Napolitano, Fox Business’s libertarian host. “So now we’re at the point where there would have to be some serious disruptions in order not to raise it. I’m willing to do that, I just don’t think we can find enough of Republicans and Democrats to say it’s time to stop spending.” Republicans have been holding the U.S. debt limit extension hostage in Congress, pressing the potential for a government default in August. During the Bush administration, those same lawmakers voted 19 times in favor of increasing the nation’s debt limit, ramping it up by nearly $4 trillion to support the wars and other new spending, virtually all of which was handled on credit. If the government defaults, America’s credit worthiness would be significantly impacted, Social Security payments would be frozen, the nation’s gross domestic product would tumble and active duty soldiers would not receive their paychecks. Many economists warn that it could even spark another global financial crisis of greater magnitude than the 2008 credit collapse, which led to President George W. Bush initiating the massive bank bailouts. This video is from Fox News, broadcast Wednesday, July 6, 2011. (H/T: Think Progress)
Post Comment Private Reply Ignore Thread
Top • Page Up • Full Thread • Page Down • Bottom/Latest
#1. To: Brian S (#0)
What a load of fear mongering manure! It's fun to see the communists panic. They're losing.
Obama's watch stopped on 24 May 2008, but he's been too busy smoking crack to notice.
And this is any worse than the Barry's willingness to do serious disruption and damage to the US economy how?
war has to do something for entertainment. The voices in his head aren't speaking to him and his imaginary friends have found reasons not to come over anymore.
I love Jim DeMint and he's exactly right.
ALL of that will happen sooner or later. Anybody who seriously thinks it won't, is a loon. If it happens sooner, it will be less painful. Causing the government to default, will be a rough ride, but survivable. If they raise the debt cieling, the continued printing (or now digital creation) of money will continue, hyperinflation WILL happen, and the government will sacrifice the people to save itself. SCREW THAT. Of COURSE it'll spark another "crisis!" For the BANKS, who W. and ob@m@ gave all that stolen money to! PISS on 'em.
“If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.” The State can no longer hide the consequences of their 100-year lie. VERY interesting times are ahead.
Man, are you single sighted. You don't know anything.
Social Security payments would be frozen, the nation’s gross domestic product would tumble and active duty soldiers would not receive their paychecks
"We (government) need to do a lot less, a lot sooner" ~Ron Paul
#2. To: Brian S (#0)
(Edited)
#3. To: Brian S (#0)
"Everything that can be invented has been invented."-- Charles Duell, Commissioner of US Patent Office, 1899
#4. To: Brian S (#0)
If the government defaults, America’s credit worthiness would be significantly impacted...
Many economists warn that it could even spark another global financial crisis of greater magnitude than the 2008 credit collapse, which led to President George W. Bush initiating the massive bank bailouts.
-- Joseph Goebbels --
#5. To: Capitalist Eric (#4)
Of COURSE it'll spark another "crisis!" For the BANKS, who W. and ob@m@ gave all that stolen money to! PISS on 'em.
Top • Page Up • Full Thread • Page Down • Bottom/Latest
[Home] [Headlines] [Latest Articles] [Latest Comments] [Post] [Mail] [Sign-in] [Setup] [Help] [Register]