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View Diary: Make 2014 a referendum on Republican radicalism (230 comments)

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  •  Exactly (8+ / 0-)

    Everything that is going on now needs to become television and internet ads a year from now, and for that matter over the entire course of 2014.

    If we default on our debt this week, the cost will tremendous, but it will be temporary.

    I truly doubt a default would last more than a day or two.  Our national credit rating would be hurt, but it would be quickly repairable in a new, Democratically controlled Congress.

    The first thing the the 114th Congress would need to do in January 2015- just eliminate the debt ceiling all together.  Its a completely unnecessary statute from World War I; it makes no sense with the 1970's Budget Control Act. (I think I have the title right) and it is probably unconstitutional since it flies in the face of Section 4 of the 14th Amendment.

    With the ceiling gone, the debt is guaranteed and our credit rating would  be restored pretty quickly.

    My wife and I have a retirement and stock portfolio that is high above the average- high six figures.  We haven't hit the million dollar mark, so we aren't even close to the radar of even the 1%.  I'm prepared to see the value of much of that holdings take a nasty hit later this week-- 35 to 45%.  That'll be at least a couple hundred grand in paper value.  But I am certain with that sort of catastrophic loss, the blame will go squarely on the GOP, and in the end, we and other investors will see it recover.

    It will be worth the temporary pain if it helps destroy the suicide caucus of the GOP.

    ======================================================== Those who can, teach. Those who can't teach, make rules about teaching.

    by oxfdblue on Sun Oct 13, 2013 at 08:10:59 AM PDT

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