No Way U.S. Would Allow Debt Default? Don’t Bet on It

The question arises as to who is running America, Wall street Bankers or the people of the USA?
Presumably it is still a representative government and that means that opposition constituencies must negotiate in good faith and work out their differences.

If the American people still mean anything then the markets should pay attention to what the American people are saying.

Who is shooting themselves becomes a question of whether policy is to be determined by the next days populist survey whipped up by rhetoric or by what is best for the Nation over the course of the next several years.

Deficit spending remains the greatest obstacle to growth as running deficits is not paying bills merely deferring the Bill/IOU onto the backs of the next generation.

Telling a Lie as if it is truth, that borrowing is the same as earning and paying ones way is no way to reconcile the problem.

Default not possible, really ? The only thing I see is : Shutdown D+8 and Default D-8...

"Deficit spending remains the greatest obstacle to growth as running deficits is not paying bills merely deferring the Bill/IOU onto the backs of the next generation."

Good to see that we still have patriots like you.

show me the money; in today's US Congress everything is possible; those tea party moron in Republican party don't think about anything except their own unique moronic ideology which in some respect is good for USA but not in the situation whereby they have to kill USA economy to arrive there; there are many ways to kill a cat, they don't have to kill the economy to make their voice heard; the only option is the president to issue a trillion dollar coin to avoid this embarrassment coming from the law makers, so yes US will never default..the president still has an ace in his sleeve that can be played the even of an hour..

Those Tea Party "morons" simply want the government to live within its means. People rant that the government is economy, if that is the case, then our problems are much more serious than a simple shut down. If that is the case then we are doomed because governments have seldom if ever shown they understand a balance sheet or a P&L statement

Look at the chart for personal credit last out a couple of days ago. It's not just the government that can't live within its means. Putting groceries on a credit card is ok if you pay it off each month but really only a house, a car, or emergency expenses should be on credit. Just like the housing crash was really only the price bubble coming back down to the long term trend line so is all credit a bubble.

What BHO is wanting is another credit card with the present ones maxed out. What he has shown is zero responsibility in spending either in selections or in total.

Are you buying bonds? I mean the actual bonds. Would Visa increase BHO's credit limit? The Republicans would be foolish to cave or to believe any promise of cuts to come. The only ting that has resulted in cuts has been the sequestration. Even that allowed increased spending, just at a lower rate of increase. Progress can only be made by forcing BHO to get off his dictatorial throne.

The basic cause of the problem is the election system where candidates have
to raise HUMONGOUS amounts of money.
Election finance reform is needed desperately. Don't you think that Big spending for Govt programs (EVERYTHING from unneeded weapons to bridges to nowhere) is in some way related to campaign contributions? If not why do well paid lobbyists exist? Who pays them?

Will Rodgers said, "We have the best Congress money can buy."