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(WTOP)   You know how Obama and his Democratic henchmen are trying to paint a "default" on America's debt as something that's never happened before and therefore it would be cataclysmic. Well, surprise: It's happened before. And it wasn't   (wtop.com) divider line 114
    More: Interesting, Obama, United States, Treasury bill, War of 1812, national debt, Opinion Journal  
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2846 clicks; posted to Politics » on 14 Oct 2013 at 1:59 PM (48 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-10-14 01:22:32 PM
So once was a glitch and the other was over 200 years ago. That's what we are relying on for comfort?

Also, FYI, the last time a Western, industrialized nation stiffed its creditors was, well, you know.
 
2013-10-14 01:25:55 PM
And it's a "slimdown" not a "shutdown" amirite
 
2013-10-14 01:26:30 PM
Then stand there with your dicks in your hands and let it happen

/I'm sure there will be absolutely no repercussions at all
 
2013-10-14 01:31:08 PM
A second time, in 1979, was a back-office glitch that ended up costing taxpayers billions of dollars

Sounds harmless enough!
 
2013-10-14 01:34:17 PM

Marcus Aurelius: A second time, in 1979, was a back-office glitch that ended up costing taxpayers billions of dollars

Sounds harmless enough!


Billions?  PFFT.  Call me when they're talking actual MONEY.

Here's one serious problem with the dumbf*cks spouting this "default isn't so bad" line... they're the same ones pissing their pants over our debt.  So, if you aren't worried about paying the debt, why are you so worried about having it?
 
2013-10-14 01:34:54 PM
So people actually believe that an event from 200 years ago in the infancy of our nation before the dollar became the world's reserve currency, and a computer/clerical issue not due to any bad faith are in any way similar to part of Congress purposefully refusing to pay out debts, possibly willing to continue to not pay indefinitely, all because the grown-ups won't give in to their temper tantrum?
 
2013-10-14 01:35:45 PM
You know, liberals like the President are always going on and on about how putting a loaded gun to your temple and pulling the trigger is suicide.

But you know what? It isn't. 

Not by a long shot. 

See, sometimes the gun doesn't fire. And sometimes, it fires, but the bullet passes through quickly, without doing any real damage. Statistics don't exist on this sort of thing because liberals hate guns, but it's probably that there are literally thousands of people living in the United States today who have put a loaded gun to their head and pulled the trigger and lived to tell the tale.

Thousands.

So why hold back, friends? Don't listen to that liberal Islamophile Obama! Put that gun to your head and pull the trigger. Do it for America. Do it for yourself.

/paid for by the Committee to Get People to Put Loaded Guns to Theirs Heads and Pull the Trigger
//(satire. please no one EVER do this)
 
2013-10-14 01:36:48 PM

factoryconnection: Here's one serious problem with the dumbf*cks spouting this "default isn't so bad" line... they're the same ones pissing their pants over our debt.  So, if you aren't worried about paying the debt, why are you so worried about having it?


For many, if not most, people, debt is a moral issue. It's hard to explain why. I think its a pride thing - to be in someone's debt is seen as a failing, as though you weren't 'man enough' to pay your bills. It's absurd.
 
2013-10-14 01:41:15 PM

DamnYankees: For many, if not most, people, debt is a moral issue. It's hard to explain why. I think its a pride thing - to be in someone's debt is seen as a failing, as though you weren't 'man enough' to pay your bills. It's absurd.


That's fine IMHO, but it doesn't jib with them saying "default will be just peachy!"

whistleridge: So why hold back, friends? Don't listen to that liberal Islamophile Obama! Put that gun to your head and pull the trigger. Do it for America. Do it for yourself.


This proposal needs more modesty. ;-)
 
2013-10-14 01:42:55 PM

DamnYankees: So once was a glitch and the other was over 200 years ago. That's what we are relying on for comfort?


A glitch that cost the taxpayers billions of 1979 dollars.
 
2013-10-14 01:49:31 PM
library.duke.edu
 
2013-10-14 01:52:16 PM
What the hell did I just read?
 
2013-10-14 01:53:57 PM

DamnYankees: So once was a glitch and the other was over 200 years ago. That's what we are relying on for comfort?

Also, FYI, the last time a Western, industrialized nation stiffed its creditors was, well, you know.


I try not to think about the implications of this too much. Having that much blood shoot out my nose probably wouldn't be healthy.
 
2013-10-14 01:54:21 PM
Hey look, more irresponsible reporting.
 
2013-10-14 01:57:50 PM

unlikely: DamnYankees: So once was a glitch and the other was over 200 years ago. That's what we are relying on for comfort?

A glitch that cost the taxpayers billions of 1979 dollars.


So, like, $47 trillion in 2013 dollars?
 
2013-10-14 02:01:42 PM
So the GOP has no hostage and doesn't need to be negotiated with.
 
2013-10-14 02:01:44 PM
A second time, in 1979, was a back-office glitch that ended up costing taxpayers billions of dollars. The Treasury Department blamed it on a crush of paperwork partly caused by lawmakers who - this will sound familiar - bickered too long before raising the nation's debt limit.

This was also a default on a whopping $120 million worth of public debt, and more of a few days delay on payout than being told that the government simply would not honor the debt.
 
2013-10-14 02:01:50 PM

jake_lex: And it's a "slimdown" not a "shutdown" amirite


Actually, it's now a "libdown".

/cos it was caused by LIBS!
 
2013-10-14 02:01:52 PM

TuteTibiImperes: So people actually believe that an event from 200 years ago in the infancy of our nation before the dollar became the world's reserve currency, and a computer/clerical issue not due to any bad faith are in any way similar to part of Congress purposefully refusing to pay out debts, possibly willing to continue to not pay indefinitely, all because the grown-ups won't give in to their temper tantrum?


Yes. They were both defaults. The word they used was the same, therefore, the outcomes are the same, that's the way language works.
 
2013-10-14 02:02:02 PM
This one time I was lighting something and the match burned my finger. It hurt!

Today I poured gasoline all over my house, my Star Wars 3.75 Vintage Greedo Figure, and my cat Roophy and torched the whole shebang but I was wrong when I said nothing like that had ever happened before. My bad.
 
2013-10-14 02:02:04 PM
I can't wait to see what happens when we stop paying our soldiers.
 
2013-10-14 02:02:23 PM

DamnYankees: factoryconnection: Here's one serious problem with the dumbf*cks spouting this "default isn't so bad" line... they're the same ones pissing their pants over our debt.  So, if you aren't worried about paying the debt, why are you so worried about having it?

For many, if not most, people, debt is a moral issue. It's hard to explain why. I think its a pride thing - to be in someone's debt is seen as a failing, as though you weren't 'man enough' to pay your bills. It's absurd.


I got over this mindset about $65,000 in medical bills ago.
 
2013-10-14 02:02:36 PM
When was the last time the US was the world's reserve currency and much of the world economy is based on "We're the United States of America mutherfarker, you know we're good for it" and the US defaulted?
 
2013-10-14 02:03:00 PM

whistleridge: You know, liberals like the President are always going on and on about how putting a loaded gun to your temple and pulling the trigger is suicide.

But you know what? It isn't. 

Not by a long shot. 

See, sometimes the gun doesn't fire. And sometimes, it fires, but the bullet passes through quickly, without doing any real damage. Statistics don't exist on this sort of thing because liberals hate guns, but it's probably that there are literally thousands of people living in the United States today who have put a loaded gun to their head and pulled the trigger and lived to tell the tale.

Thousands.

So why hold back, friends? Don't listen to that liberal Islamophile Obama! Put that gun to your head and pull the trigger. Do it for America. Do it for yourself.

/paid for by the Committee to Get People to Put Loaded Guns to Theirs Heads and Pull the Trigger
//(satire. please no one EVER do this)


Winner of the Thread.
 
2013-10-14 02:03:52 PM

whistleridge: So why hold back, friends? Don't listen to that liberal Islamophile Obama! Put that gun to your head and pull the trigger. Do it for America. Do it for yourself.


And use a gun with a clip-  Not one of those liberal "revolvers", because we all know that revolving is gay and French.
 
2013-10-14 02:04:22 PM

whistleridge: //(satire. please no one EVER do this)


encrypted-tbn2.gstatic.com

Now you tell me.
 
2013-10-14 02:04:44 PM
mouth-breather monday?

seriously, though - a brief breach of the debt ceiling due to a computer error and an INTENTIONAL BREACH DUE TO POLITICAL ASSHOLERY are two very different things.

the second means that the united states can no longer be trusted to pay its bills. that means that it is no longer the world's leading economy and home to the globe's reserve currency. it essentially means the end of american exceptionalism. oh, and by the way, it would also likely mean a global panic in the markets, touching off a second great republican depression.

but you already knew that, didn't you, trollmitter.
 
2013-10-14 02:04:52 PM

whistleridge: You know, liberals like the President are always going on and on about how putting a loaded gun to your temple and pulling the trigger is suicide.

But you know what? It isn't.
Not by a long shot.
See, sometimes the gun doesn't fire. And sometimes, it fires, but the bullet passes through quickly, without doing any real damage. Statistics don't exist on this sort of thing because liberals hate guns, but it's probably that there are literally thousands of people living in the United States today who have put a loaded gun to their head and pulled the trigger and lived to tell the tale.

Thousands.

So why hold back, friends? Don't listen to that liberal Islamophile Obama! Put that gun to your head and pull the trigger. Do it for America. Do it for yourself.

/paid for by the Committee to Get People to Put Loaded Guns to Theirs Heads and Pull the Trigger
//(satire. please no one EVER do this)


This is good. PN-Worthy even.
 
2013-10-14 02:05:24 PM
This would be a great point if context didn't matter.

But since it does this is stupid.
 
2013-10-14 02:07:01 PM
Our nation's spending problem has gone far enough. We can't continue with the free wheeling spending spree that this liberal administration has gone on. If we don't rein in our debt then we risk not being able to pay it which wouldn't be that big of a deal. So, in closing, let's tighten the purse strings on this pResident before we can't pay our bills that don't matter. God bless.
 
2013-10-14 02:07:42 PM
Rough inflation calculator shows 1 billion in 1979 would be 3.34 billion in 2013.

And everyone knows scaling multipliers don't exist when large numbers come into play.
 
2013-10-14 02:08:05 PM

factoryconnection: DamnYankees: For many, if not most, people, debt is a moral issue. It's hard to explain why. I think its a pride thing - to be in someone's debt is seen as a failing, as though you weren't 'man enough' to pay your bills. It's absurd.

That's fine IMHO, but it doesn't jib with them saying "default will be just peachy!"


They don't think it will be good, exactly. They think it will be good for us. Conservatives largely believe that people must be punished into being good. So they don't think the default will be good. They want the country punished for its debt and think it will be good for us since it will make us do what they want.

Except their issue is the debt and they are largely against things like tax raises or cutting military spending to do it. It's part of why they are farking crazy.
 
2013-10-14 02:08:18 PM
I know nothing about science.  I disagree with science.
I know nothing about hip hop music.  This is what hip hop music is all about.
I have no clue about macro-economics.  Here is my experience with micro-economics.  It's likely to be exactly the same thing.
I know nothing about gas stoves.  I just fixed mine, want to come over?
 
2013-10-14 02:08:37 PM

kidgenius: whistleridge: You know, liberals like the President are always going on and on about how putting a loaded gun to your temple and pulling the trigger is suicide.

But you know what? It isn't.
Not by a long shot.
See, sometimes the gun doesn't fire. And sometimes, it fires, but the bullet passes through quickly, without doing any real damage. Statistics don't exist on this sort of thing because liberals hate guns, but it's probably that there are literally thousands of people living in the United States today who have put a loaded gun to their head and pulled the trigger and lived to tell the tale.

Thousands.

So why hold back, friends? Don't listen to that liberal Islamophile Obama! Put that gun to your head and pull the trigger. Do it for America. Do it for yourself.

/paid for by the Committee to Get People to Put Loaded Guns to Theirs Heads and Pull the Trigger
//(satire. please no one EVER do this)

This is good. PN-Worthy even.


PN'ish indeed.
 
2013-10-14 02:09:58 PM
Because the world market in the 19th century is the same as it is today and a momentary glitch is the same as doing it on purpose and letting it draw on for weeks.

memecrunch.com
 
2013-10-14 02:10:48 PM
"Henchmen." He's the President, not a 1970's Batman villain.
 
2013-10-14 02:12:20 PM
A second time, in 1979, was a back-office glitch that ended up costing taxpayers billions of dollars. The Treasury Department blamed the mishap on a crush of paperwork partly caused by lawmakers who - this will sound familiar - bickered too long before raising the nation's debt limit.


So it cost billions of dollars from a small glitch but nothing to worry about if it happens?
 
2013-10-14 02:12:20 PM

odinsposse: factoryconnection: DamnYankees: For many, if not most, people, debt is a moral issue. It's hard to explain why. I think its a pride thing - to be in someone's debt is seen as a failing, as though you weren't 'man enough' to pay your bills. It's absurd.

That's fine IMHO, but it doesn't jib with them saying "default will be just peachy!"

They don't think it will be good, exactly. They think it will be good for us. Conservatives largely believe that people must be punished into being good. So they don't think the default will be good. They want the country punished for its debt and think it will be good for us since it will make us do what they want.

Except their issue is the debt and they are largely against things like tax raises or cutting military spending to do it. It's part of why they are farking crazy.


Yes, this. The conservative worldview is very manichean, split between good and bad, deserving and undeserving, right and wrong. Policy positions are much less about outcome and effectiveness, but about pennance, just deserts and penury. At least in the abstract.
 
2013-10-14 02:12:41 PM
It will be cataclysmic to the wealthy, and said cataclysm will trickle down to the rest of us. Just like Reaganomics.
 
2013-10-14 02:12:51 PM

sprawl15: A second time, in 1979, was a back-office glitch that ended up costing taxpayers billions of dollars. The Treasury Department blamed it on a crush of paperwork partly caused by lawmakers who - this will sound familiar - bickered too long before raising the nation's debt limit.

This was also a default on a whopping $120 million worth of public debt, and more of a few days delay on payout than being told that the government simply would not honor the debt.


And these numb-skulls think these facts are supposed to calm us down?

"Hey, a minor error cost us an order of magnitude more money than what we accidentally defaulted on. What could possibly go wrong if we intentionally default on much more!"

Idiots. Dangerous idiots.
 
2013-10-14 02:13:13 PM

vartian: "Henchmen." He's the President, not a 1970's Batman villain.


Wait. Obama isn't the Clock King? That's who I thought I was voting for.
 
2013-10-14 02:13:40 PM
Republicans are going yo keep beating the hostage until candy comes out...or it dies...one or the other.
 
2013-10-14 02:14:13 PM

jake_lex: And it's a "slimdown" not a "shutdown" amirite


Judging by the physique of the crowds at teabagger rallies, slimdown is the most frightening thing imaginable. Fox really should get to know their target demographic a bit better.
 
2013-10-14 02:14:46 PM
America has briefly stiffed some of its creditors on at least two occasions.

This time aint no brief stiffing.

More like a perpetual ass farking by the GOP without lube.

The GOP have used up all the chickens and now they're onto America's creditors.

This cannot end well.

/That noted, the article was more "gotcha" trivia than RW "slimdown" propaganda.
 
2013-10-14 02:15:39 PM
You know how Mods greenlighted what was supposed to be a reasonable and informative examination of the panic surrounding a debt default from the conservative perspective.  Well, surprise: It's DERP.
 
2013-10-14 02:17:22 PM
that article needs an asterisk.

comparing apples to planets, they're both spherical!
 
2013-10-14 02:17:50 PM
This guy really stuck it to Obama.
 
2013-10-14 02:18:56 PM

Bareefer Obonghit: Our nation's spending problem has gone far enough. We can't continue with the free wheeling spending spree that this liberal administration has gone on. If we don't rein in our debt then we risk not being able to pay it which wouldn't be that big of a deal. So, in closing, let's tighten the purse strings on this pResident before we can't pay our bills that don't matter. God bless.


You actually pay $50 for this account.  You paid for this.  Good times.
 
2013-10-14 02:21:13 PM
Yeah. It doesn't help your argument when the last time we went full default Canadians burned down Washington D.C.
 
2013-10-14 02:21:24 PM
Guess what, defaulting on your debt makes you a deadbeat even if your creditor doesn't need the funds to survive.
 
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