Hey Travis! The Republitards want to cut your SS check off!

Well, SS doesn't need to finance your time on the Internet anyway.
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Consequences of defaulting on the federal debt

Congress has the duty to honor the debts of the United States by
raising the federal debt ceiling under the "full faith and credit
clause," Article IV, Section 1, of the U.S. Constitution, and Section
4 of the 14th Amendment to the U.S. Constitution. Not raising the
federal debt ceiling will cause a default on the U.S. debt in
violation of the U.S. Constitution.

Has the U.S. ever defaulted on its debt? Well, in a technical sense
yes, briefly and unintentionally when Congress waited to the last
minute to act to raise the federal debt ceiling in 1979. Our present
situation differs where Tea-Publicans are threatening not to raise the
federal debt ceiling intentionally to put the nation's debt into
default. That will shake the confidence of the international markets
in the ability of the U.S. government to govern itself and to honor
its debts.

All lending agreements, whether between central banks of countries, or
your mortgage or credit card agreement, have a "default" provision
that automatically escalates the rate of interest to a default rate in
the event of default. For many, this will affect your credit
worthiness and make credit unavailable. The banks will "adjust" the
interest on all credit agreements. Default will cost Americans
hundreds of billions of dollars in additional interest and tax dollars
to finance the interest on the federal debt over time.

So when you hear the darlings of the Tea Party like Sen. Jim DeMint (R-
SC) and Rep. Michele Bachmann (R-MN) say they are going to vote
against raising the federal debt ceiling because they "don't believe"
anything bad is going to occur, just keep in mind that they are
ignorant of history, ignorant of economic principles, ignorant of how
the international monetary system works, and ignorant of how
international markets work in the real world.

Why would any sane person listen to what an ignorant fool has to say
when all the experts in the field who do this for a living say it will
result in a debt crisis and another recession?

http://www.blogforarizona.com/blog/2011/07/consequences-of-defaulting-on-the-debt.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+BlogForArizona+%28Blog+For+Arizona%29
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Not even mentioning all the checks government writes out to people
like Travis, military personnel, pensioners, etc. etc. etcetera.

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