Why is defaulting on the debt better then raising the debt limit?

It's not....

We WON'T default on the debt and we DON'T have to raise the debt limit to do it.

For August the projected income for the US government is enough to cover ALL of the interest payments on our foreign debts, ALL of the promised social security payouts, ALL of the expected MediCare payouts, ALL of the unemployment benefits and ALL of the military salaries. Now there will be no money for anything else so other government employees will not get paid...such as the politicians, postal workers, and FBI but by no means do we have to default on our debts.

http://www.weeklystandard.com/blogs/bipartisan-pol...

Well... I'd rather default rather than borrow more, and then ultimately owe more later down the road compared to what I already owe.

But we're not going to default. SS has it's own fund.. It goes into the mandatory accounts. And mandatory spending must first be spent before discretionary-- which is everything else.

Have you heard about welfare being cut and social programs being suspended? Is Congress and TSA still getting paid? The following is considered discretionary...

I don't believe any of us have been told that-- which means Obama is lying. Thus; we won't default.

--Rob USMC

EDIT: Think about this for a minute. Any check from the Treasury Dept. must be sent out 3 days prior to reach the 1st of the month. So why is Obama talking about not receiving checks on the 3rd of the month?

Anybody that has worked with the federal govt. knows that paydays only fall on the 1st and the 15th of every month. Unless there's a holiday, then it's sent out 5 days prior.

It's not better by any stretch of the imagination. It would have ramifications - all bad. It is nothing more than bad politics being played by politicians at our expense. It's inexcusable and they better get their butts in gear and get it raised.

The debt limit is not about increasing spending, it's about paying debts already incurred by the government. It is the equivalent of buying something on your credit card and then refusing to make your monthly payments when they come due and it holds the same bad consequences on a gargantuan scale.

Its not and no one says it is. Besides the issue is the interest not the debt, it will take years to pay off the debt.

So we fix one debt by creating a higher one, and that one by creating an even higher one, and so on, and so on. At some point it's got to end, and the longer it goes on the less pretty the end will be.

Apparently tanking our credit rating and driving up interest rates in order to prove to the Republican base that the Gop is fighting Obama is an even trade off.

Because THEN all of that food that the Teabaggers have been hoarding won't get all infested with botulism sitting on the shelf in the bomb shelter.

Who knows... they might even get to use some of those gold coins.

It's not.

Interest rates will go through the roof.

only is you want to be 3rd world country

It ain't, dude.