Originally Posted by Victor H

If the debt ceiling is not increased to pay for the debts that we have already accumulated (which is the nature of the debt ceiling - paying for waht you already purchased, kind of like paying a credit card bill), then nobody will get paid (SSDI), and only a small amount of bond payments can be serviced.

The problem is that the new House members are actually quite ignorant about what the debt ceiling means. Far too many of them think that it is a means by which cash can be generated for domestic expenses (just listen to them on CSPAN and you will see how ignorant they are).

This is very much like what happened in 1937-1938 and the result was a disaster.

Remember who votes against an increase in the debt ceiling (write down there names) and then vote them out of office.

This is worse economically than anything we have seen in our lifetimes, I assure you.

If one side can get off of the "no tax reform platform" then we will be fine. If not, then our AAA credit rating will drop and there will be a world-wide Depression accoring to Harvard and Yale economists.

Don't be shocked if the President uses his ace in the hole and inacts a portion of the 14th Ammendment to solve this problem.

As a precaution, store food supplies now.