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In The Event Of An Official US Bankruptcy

Sometimes I wonder if the leaders of the MAGA radicals are purposely doing this crap to purposely ruin the GOP. The things they are doing clearly is self sabotage. I mean Trump use to be a DEM. Unless they really are that dumb and don't realize they are sealing their own coffins.
 
DarkNoon said:
If the MAGA radicals in congress succeed in destroying America like they are gunning for by not paying debt WE ALREADY owe than their only further sealing the fate of the GOP. 💀
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It's really any politician that continues to support expanded deficit spending. Neither the elephants nor the donkeys are innocent here. If you keep ratcheting deficits, your interest payments grow to the point that they will start eating in to your ability to pay for other things. Our debt really has become a national security issue not just because adversaries (China) hold a lot of it, but because it could someday prevent us from paying for things like both guns and butter.
 
You want to talk about deficits that's fine. You want to do something about deficits that's great.

But don't hold the nation hostage over debt we already owe. Jeopardizing millions of hard working Americans very selfishly in doing so.

At this point those MAGA radicals in congress should be labeled terrorists for threatening millions of Americans lives/society like they are doing by not wanting to pay the bills we already own.
 
DarkNoon said:
Nope. Just stop right there. Has nothing to do with paying debt we already own. A lot or which was done under Trumps presidency.
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Spirited debate generally does not start with the term "stop right there". So I will respectfully carry on. :)

US debt is held in "[t]reasury bonds, bills, notes, floating rate notes, and Treasury inflation-protected securities (TIPS)". (https://fiscaldata.treasury.gov/americas-finance-guide/national-debt/#:~:text=There are two major categories,increased by 40% since 2013.)

Paying the holder for the value of these instruments upon maturation or cash-in is effectively, making a debt payment. Did the US stop making payments to holders of these instruments?
 
DarkNoon said:
Not yet. But MAGA terrorists in congress are trying to do just that out of spite. They don't want to pay debt we already own. Which has nothing to do with deficits.
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True- deficits and debt are different things, though deficits cause debt. And continued deficits can create an unpayable debt, which is the directions we are heading. Both parties cause this for their own political means whether it be guns (historically R) or butter (historically D).

Debt payments have not stopped under any administration I can think of in recent memory as that would be absolutely terrible for our fiscal policy. (If we fail to pay our debt, fewer players will buy bonds in the future (i.e. lend us money)). I can't see any administration supporting this as a strategy as said administration would be significantly constrained in running a deficit within a fiscal year.

It's probably a political tactic and not a long-term strategy.
 
Friendly Engineer said:
I highly doubt the US will default.
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Again just don't believe the MAGA heads in congress are smart enough or care enough to understand the true scope of the damage it would cause.

Normally your right. A normal person would not risk such a thing. But MAGA radicals are far swung from anything normal. Hence the label Radicals...
 
DarkNoon said:
Again just don't believe the MAGA heads in congress are smart enough or care enough to understand the true scope of the damage it would cause.

Normally your right. A normal person would not risk such a thing. But MAGA radicals are far swung from anything normal. Hence the label Radicals...
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A lot of that is driven by the "he'll say anything" approach of the MAGA supreme leader.
 
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