Title: If the Government Defaults Source:
[None] URL Source:[None] Published:Jul 28, 2011 Author:A K A Stone Post Date:2011-07-28 19:27:58 by A K A Stone Keywords:None Views:2726 Comments:6
I was just wondering. If the government defaults on its spending binge. How will it effect the posters on this site? Tell us how it specifically would effect you or if you think it wouldn't directly effect you.
I was just wondering. If the government defaults on its spending binge. How will it effect the posters on this site? Tell us how it specifically would effect you or if you think it wouldn't directly effect you.
we've hired 5 people this year, we expect to lay all of them off. We don't do any business directly with the federal government, but the impact of stopping about 8-9% of GDP in a couple of days will cause massive slowdown/halt to business and consumer spending. Pew estimates about 700k people will be out of work this year alone, and the economy will fall back into a recession.
we've hired 5 people this year, we expect to lay all of them off. We don't do any business directly with the federal government, but the impact of stopping about 8-9% of GDP in a couple of days will cause massive slowdown/halt to business and consumer spending. Pew estimates about 700k people will be out of work this year alone, and the economy will fall back into a recession.
What kind of work do you do? I mean what specifically makes you think you are going to have to lay off these people? What is going to make demand for your product or service fall?
For every two dollars of spending they cut they should should cut one dollar of taxes on the middle class. That would put that money back into the pocked ofthe people who earned. Thus stimulating the economy with productive work instead of money shifts.
What kind of work do you do? I mean what specifically makes you think you are going to have to lay off these people? What is going to make demand for your product or service fall?
IT consulting. If there is a default I expect a pull-back as bad, if not worse than what we saw in late 2008.
For every two dollars of spending they cut they should should cut one dollar of taxes on the middle class. That would put that money back into the pocked ofthe people who earned. Thus stimulating the economy with productive work instead of money shifts.
Cutting spending doesn't help grow an economy - have a look at the UK. And note that we cut the payroll tax back in December, with little to no economic impact.
Cutting spending doesn't help grow an economy - have a look at the UK. And note that we cut the payroll tax back in December, with little to no economic impact.
I know hard work does. Cut welfare and taxes and make them work.
