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Oh come on. This is partisan hackery. This "theatre" did in fact cause vital government functions to shut down. I was personally on a project where I had to sto
by countingteeth 10y ago
Oh come on. This is partisan hackery. This "theatre" did in fact cause vital government functions to shut down. I was personally on a project where I had to stop work because our checks were sitting on a table in Washington and a major milestone meeting was canceled because the government was furloughed and would not be there, throwing the entire project schedule off. This was replicated thousands of times across the economy.
Even the ghost of a chance of going down to the wire as to whether a bond payment would be missed by a single day on US obligations, is in itself tremendously disruptive. The economy is structured around U.S. debt as being the safest paper there is. Don't downplay just how dangerous dicking around with this for partisan points was.
- crdoconnor 10y agoNo, playing up the fearmongering as you are doing right now is partisan hackery. The main Democratic talking points centered around fearmongering, after all, which was almost as stupid as the Republicans temporarily shutting down the postal service, etc. in a fit of pique. As I said before: the markets correctly characterized the debt ceiling negotiations as a bunch of drama queens on both sides of the political divide acting up & a storm in a teacup because neither side is politically suicidal.
- ljf 10y agoCheck out HyperNormalisation by Adam Curtis - should be on interest.
- bubbleRefuge 10y agoYou are right sir. And after the ratings agencies downgraded US debt, they actually appreciated in value. Because anyone who understands government finance knows that issuer's of currency cannot default on their own debt instruments unless they want to.
- sammydavis 10y agoHowever, a fair number of tea party members in congress were actively promoting defaulting on the debt. That's different than some random guy with a page on the internet. That's a lawmaker with a vote who can affect the outcome. So their political career would be hurt. The election wasn't the next day, it would have taken a long time to replace those yahoos and the damage would have been done. Examples: Ted Yoho, rep for Florida, http://www.rollingstone.com/politics/news/the-tea-partys-government-default-fantasy-20131011 http://www.rollingstone.com/politics/news/the-tea-partys-gov... Trump (who isn't in congress, but had a shot at being president: http://mediamatters.org/research/2016/05/08/media-slam-trump-s-insane-plan-default-us-debt/210297 http://mediamatters.org/research/2016/05/08/media-slam-trump...) yes, it is nuts, but people who vote in congress supported it, and the pres. candidate of one of our two parties also said that.
- countingteeth 10y agoActually, most of the Republican party is in the process of committing political suicide right now. Enough with your vacuous false balance.