US Federal Government Shutdown | Shutdown Shutdown, Debt Ceiling Raised

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To even have anything in the same universe as an argument about impeachable offenses, wouldn't the president had to have like veto'd something or some shit? The president can't force us not to default, at least not through traditional methods.
 
Default = impeachment

Using anything except Congress to stop default = impeachment

Obama had better lawyer up. We got ourselves another GOP impeachment witch hunt coming soon. [/GOPpriorities]
 
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If the GOP allows the nation to default, democrats win the house in 2014 full stop. GOP are at a crossroads either lose cr, debt limit battle and their pride with it or default and lose any power they have left in the country.
 
Getting really worried that the Republicans will let the country default. It would make the economic crisis up to now look like a joke in comparison.
 
When is the deadline for the government shutdown to end else the world economy gets screwed? I've heard people say multiple dates such as October 10 which is obviously not the case.
 
AnathemicOne said:
When is the deadline for the government shutdown to end else the world economy gets screwed? I've heard people say multiple dates such as October 10 which is obviously not the case.
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The debt ceiling must be lifted by October 17th or there's going to be hell of drama.

The government shutdown will just continue to slowly pull the American economy into recession until it stops, with no particular end date.
 
DTKT said:
Random canadian coming through.

http://www.youtube.com/watch?v=0Jd-iaYLO1A

Am I understanding this correctly? Basically, only the Republican members of congress can push the senate to vote on the budget?
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Not even any Republican. Just Eric Cantor. It gives one man complete control over what can be voted on, and thus what can become law. It gives him the President's veto authority in addition to the authority he already had.

I'm glad that video is getting so many views.
 
I can't make a topic since I'm junior so I hope noone minds me asking here. But I have a 401k through Vanguard. I am not too well versed in how they work. Will it be affected if we default?
 
Gonff said:
I can't make a topic since I'm junior so I hope noone minds me asking here. But I have a 401k through Vanguard. I am not too well versed in how they work. Will it be affected if we default?
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It will only be affected by market forces responding to a default.
 
I can see it coming. The market will crash right before I am about to buy a house won't it, just early enough before I sell my investments, not after I pull everything and profit from another house price collapse.

On a side note, is it possible that the Republicans think that by now, if they can screw the US enough to make it default, they will be so hated that people will give up and vote them in power? Like, when someone has a gun pointed at you and asks you for your wallet, and then he shoots you, you say "fuck it, here's my wallet"? Or in other words, if their popularity reaches negative numbers, they think it will turn into positive?
 
We have 3 days till default. I'm more scared by these GOP lunatics this past month than I ever have been from terrorists the past 12 years.
 
Ether_Snake said:
I can see it coming. The market will crash right before I am about to buy a house won't it, just early enough before I sell my investments, not after I pull everything and profit from another house price collapse.

On a side note, is it possible that the Republicans think that by now, if they can screw the US enough to make it default, they will be so hated that people will give up and vote them in power? Like, when someone has a gun pointed at you and asks you for your wallet, and then he shoots you, you say "fuck it, here's my wallet"? Or in other words, if their popularity reaches negative numbers, they think it will turn into positive?
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Here's the sad part. There are still a LOT of people who don't know anything about this whole situation, who are CONVINCED from Fox News and other media outlets that this is the fault of both parties, and some even think that it's Obama's fault for not compromising on something which is already law. They are so brainwashed and love to share Rand Paul and Ted Cruz quotes because they admire those morons.
 
cdkee said:
Here's the sad part. There are still a LOT of people who don't know anything about this whole situation, who are CONVINCED from Fox News and other media outlets that this is the fault of both parties, and some even think that it's Obama's fault for not compromising on something which is already law. They are so brainwashed and love to share Rand Paul and Ted Cruz quotes because they admire those morons.
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I'm convinced that even after all this is done, at least 40% of voters (possibly much more, if minority and youth turn out is still low) will vote for Republicans next election, because they think either 1. the Republicans were in the right, or 2. both parties were at fault, but the Republicans support better policies.
 
wsoxfan1214 said:
So... What are the chances of a default? everyone suddenly seems gloomy.
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The party who shut down the government because they've been saying we don't need government is now saying nothing bad happens with default.

They've gotten everything they've wanted up to this point. We should be worried.
 
If we don't have a deal by the 18th prepare for one hell of a market collapse. Even if they pass something after the 18th, Republicans will single handily force the US to lose the role of the global economic leader and cause more damage than any war or terrorist ever could, but they know that, and they understand that they would be blamed.

My theory: Self Preservation > Pride/Idiocy/Malice

So I'm going to guess at the last minute (as always) they will raise the debt ceiling reopen the government (For six months I'm guessing) and Americans sadly come 2014 will forget this ever happened.


Edit: Sorry, didn't know we're panicking. Sell! Sell! Sell! Buy all the food and water! Build a bunker! The Mayans were right about the world ending! They just got the year wrong!

amidoinitrite?
 
makingmusic476 said:
I'm convinced that even after all this is done, at least 40% of voters (possibly much more, if minority and youth turn out is still low) will vote for Republicans next election, because they think either 1. the Republicans were in the right, or 2. both parties were at fault, but the Republicans support better policies.
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The only people who don't think the Republicans are at fault are the people who live in the Fox News bubble and would never vote against the party anyway.

The problem is most people will forget all of this by this time next year. Unless, of course, we do default, and the USA turns into one big Cormac McCarthy's The Road LARP.
 
Gotchaye said:
On my phone and about to get on a plane so this will be brief, but I don't understand why this ought to matter. Money is fungible and the people who own bonds aren't very liquidity-constrained. They're not unable to buy a sandwich because all of their cash is in t-bills. I'm hardly rich, and I spend /more/ money because some of my wealth is in interest-bearing assets rather than cash. This is because I need to save a smaller fraction of my present wealth to maintain a desired level of future spending, because interest-bearing wealth grows over time. Access to "risk-free" interest increases the rate at which I spend money right now.
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Their bonds can't be exchanged for goods and services, that's the critical difference. They can sell them for cash easily enough (though again, less liquid than most other securities), but that transaction in US dollars leaves the money supply unchanged. What one individual does doesn't matter, we aren't talking about behavior or spending. Its very simple, bonds are not cash, and don't influence the money supply in the same way.
 
I have to believe Boehner will, at SOME point, simply say "fuck it" and let the vote happen. He can't possibly be so egotistical and power-hungry that he's willing to let the global economy tank just to look strong for his base?
 
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