meta-agnostic
Jedi Master
I could not find another thread specifically devoted to this subject. Maybe it belongs on one of the SOTT news subforums.
I am curious about what people here think the endgame is with regard to the debt ceiling talks in the U.S.A. If you are not familiar with this subject, the U.S. has reached its artificial borrowing limit set by Congress and the current Republican-controlled House is saying they will not vote to increase the limit without massive spending cuts to move toward balancing the budget and ultimately paying down the debt (yeah, right). The Democrats have agreed to some spending cuts but say there should also be tax increases or "revenue" increases (i.e. closing tax loopholes) on the wealthy in order to balance the share of the burden. The "Tea Party" Republicans say they will not consider any tax increases under any circumstances. There has been progress toward a deal but things seem to keep falling apart. We already reached the limit on May 16 and are now borrowing from pensions to stave off default. They are saying that if a deal is not reached by August 2, the U.S. will begin to default on its obligations which will have unpredictable global catastrophic consequences. It isn't often asserted in the mainstream press, but alternative sources frequently state that the world dumping the dollar as a reserve currency is one possible consequence of default. This would seem to relate to this recent "Best of the Web" article posted on SOTT:
http://www.sott.net/articles/show/231428-The-Dollar-Collapse-Will-be-the-Single-Largest-Event-in-Human-History
Does anyone have any insight as to what is really going on here? The whole charade has been described as Kabuki theater, and it no doubt is in some form, but what purpose does it serve for TPTB? Both sides dig in and refuse to compromise, and they do both have some valid points regarding the issue, but overall they are both horribly disingenuous and refuse to address entire subjects like the amount of money we are spending on wars. If the consequences of default are as catastrophic as claimed then it would seem it could not be allowed to happen, so are they just trying to scare everyone? Or is a default a real possibility in order to "move things into the next phase"? Perhaps when a deal is cut at the last minute there will be an opportunity for some to look like heroes, but I am still trying to figure out if there is a real, esoteric point behind all this other than distraction. It is certainly being made to look like serious business.
I know the political system is a joke, but following it is an old habit I haven't yet kicked.
I am curious about what people here think the endgame is with regard to the debt ceiling talks in the U.S.A. If you are not familiar with this subject, the U.S. has reached its artificial borrowing limit set by Congress and the current Republican-controlled House is saying they will not vote to increase the limit without massive spending cuts to move toward balancing the budget and ultimately paying down the debt (yeah, right). The Democrats have agreed to some spending cuts but say there should also be tax increases or "revenue" increases (i.e. closing tax loopholes) on the wealthy in order to balance the share of the burden. The "Tea Party" Republicans say they will not consider any tax increases under any circumstances. There has been progress toward a deal but things seem to keep falling apart. We already reached the limit on May 16 and are now borrowing from pensions to stave off default. They are saying that if a deal is not reached by August 2, the U.S. will begin to default on its obligations which will have unpredictable global catastrophic consequences. It isn't often asserted in the mainstream press, but alternative sources frequently state that the world dumping the dollar as a reserve currency is one possible consequence of default. This would seem to relate to this recent "Best of the Web" article posted on SOTT:
http://www.sott.net/articles/show/231428-The-Dollar-Collapse-Will-be-the-Single-Largest-Event-in-Human-History
Does anyone have any insight as to what is really going on here? The whole charade has been described as Kabuki theater, and it no doubt is in some form, but what purpose does it serve for TPTB? Both sides dig in and refuse to compromise, and they do both have some valid points regarding the issue, but overall they are both horribly disingenuous and refuse to address entire subjects like the amount of money we are spending on wars. If the consequences of default are as catastrophic as claimed then it would seem it could not be allowed to happen, so are they just trying to scare everyone? Or is a default a real possibility in order to "move things into the next phase"? Perhaps when a deal is cut at the last minute there will be an opportunity for some to look like heroes, but I am still trying to figure out if there is a real, esoteric point behind all this other than distraction. It is certainly being made to look like serious business.
I know the political system is a joke, but following it is an old habit I haven't yet kicked.
) is now using fear tactics blaming others & we're gonna get a tax hike. Anyone think the gubement is going to downsize themselves? I DON'T THINK SO...
