What If There's No Deal?

[DemocratSinceBirth]

Let me preface my remarks by saying I think there will be a deal. I think both parties suffer from a healthy dose of cynicism for us rubes. Of course I like my party better but...

But if there's no deal and America can't pay the interest on its debt , the debtholders then have the right to demand the entire principal.

The economy would surely tank. The DOW would plummet.Unemployment would skyrocket. Gas prices too as OPEC nations are paid in dollars which would become worthles. Folks would make runs on the bank to get their money. Glen Beck, Laura Ingraham, and Rush Limbaugh would be fighting to collect the food insurance rations they sell on their show.

It would truly be like the End Times.

The only redeeming thing is most sentient folks would hate the Tea Baggers and punish the Republicants for enabling them.

[Skink]

1. 14th amendmant.

let them sue. I bet a lot of republicans would lose there corporate sponsors if they keep up with this.

[DCBob]

2. Yes, Obama will do this if there is no deal.

He has to.

[housewolf]

11. I'm hoping this is what happens

What's going on in Congress is unbelievable ridiculous

[tritsofme]

3. The Treasury would prioritize payments.

Debt service payments would be made, no default. However there would be a government shutdown. Social Security checks may or may not go out, federal workers would be without pay, and most other parts of the federal government would shutdown, as 45% of government spending is expected to come from borrowing.

[DemocratSinceBirth]

4. Just Not Paying S S Would Cause A Depression

That would be a lot of money to take out of the economy.

[southernyankeebelle]

5. If you get a military retirement or ss you won't get paid. I will be in the shit house. We

are helping to pay for our son's wedding. Our house is paid for but we have no fall back. I just don't know what to do.

[DemocratSinceBirth]

6. I'd Lay 10-1 Odds There Will Be No Default

I was just positing an interesting counterfactual.

[AlinPA]

12. Rand Paul hasn't started filibustering yet. When he does on some "final" bill,

default will occur. The republicans have gone crazy, including McConnell and Boehner. This talk about Boehner having trouble with teabaggers is play acting - he is in with them and has been from the beginning of this.

[louis-t]

7. I do not believe there will be a deal.

Tea crazies are too stubborn. They will accept nothing less than 'their way'. It will take extraordinary measures to save this country, which will be spun by the right as 'treason, impeachable offense, criminal..'

[DemocratSinceBirth]

8. It Will Be A Reverse NAFTA

A "bipartisan" plan will come out of the House with majority Democratic support and minority Republicant support.

Since I'm broke watching chaos in America would be great sport but I wouldn't wish the ensuing calamity on anybody.

[louis-t]

9. Since caving to repugs would never paint Obama as a hero

it would be the least favorable outcome for Dems. Repugs will portray him as weak.

[DemocratSinceBirth]

10. I Think In The End It Will Be Perceived As Boehner Throwing The Tea Baggers Under The Bus

That's my opinion.

Let's see...