What If? “Huge Interest Rate Risk” If No Deal on Debt Ceiling, David Walker Says

After years of neglect on reining in the bubble stock market, economy collapsed and a Democrat got the Prez office. When the Democrat was in office, the Republican opposition tried to block every reform and every spending program to get the country out of the financial crisis. At least FDR had 1 term in to get the recovery going. But when the recovery stalled, the Republicans went gangbusters in '36 and forced Roosevelt to scale back and then the economy went into the toilet again.

History repeating itself.

I will grant the Fed deficit in '32 isn't $14 trillion (good $6 trillion is due to the Cheney Adminstration), there was no war, and there is no dust bowl now.

And Steve Forbes idea of going back to the gold standard? I wonder how many of his buddy's have hoarded gold?

If the Republicans destroy the US economy just so Obama doesn't get a 2nd term... Great strategy for the party! Damned the country!

DONT UNDERESTIMATE THE IGNORANCE OF "DUMBASSES" IN LARGE GROUPS.

What the ??? Federal workers might get laid off, but then later rehired WITH RETROACTIVE PAY? What scenario would allow any private sector employee to get laid off then rehired WITH RETROACTIVE PAY?

Threatening SSI recepients is not right.
Bet the Congress and Senate will still get paid on time.
These guys are useless.

Almost time to pay the piper!

WE ARE FIGHTING 4 UNDECLARED WARS

Iraq
Afghanistan
Pakistan
Libya

But not one politician or pundit suggests cutting the TRILLIONS OF DOLARS of this war machinery

Is this a military dictatorship? or a democracy?

This is nothing but Fear Porn. Same old same old. Raise debt ceiling GOOD, cut government spending BAD. Neandrethals.

USA..today..!!!
1. A US President with poor leadership
2. A US Congress with no direction
3. Elected Reps with no performance
4. A Treasuty with no revenue and "printing" $$$ in billions
5. Banks that do not lend to businesses but await a "bail-out"
6. Corporate that are "out-sourcing" jobs abroad
7. States that are fiscally broke, cutting off services
8. Citizens growing in number for food stamps, unemployment and welfare
9. Vacant homes (foreclosures), rising cost of rents, fees and consumer items
A debate in DC to raise "debt ceiling, cut costs, raise taxes and dress up a DEAD Economy..

i could use a higher rate on my savings account and maybe one day retire.

shut the government down. What worries me most is that they will reach an agreement.

How would this effect the ongoing interest rates?

and why would it be drastic?

I do not understand why both parties keep attacking the private sectors social security,medicare and Taxing us more.
With over 50% of the working class getting thier paychecks from taxpayers=(TAXPAYER JOBS)
Average Gov salary 100K a yr and free healthcare,paid sick leave,paid vacations,paid holidays ect.
Ohh- notice the word average! I know some of you gov workers make only 60k a yr but the ones that make 250K equal out the Average.I keep hearing that gov workers have MA and Ba degrees so they should be paid more hmm What did they learn! How to steal money legally? or bankrupt our country?maybe they think just because they went to school they are better then others. Ohh and by the way when Gov workers retire they get 80% of thier annual pay in the form of a pension! that is before spiking.Ohh and if health insurance goes up 30% guess who has to pay that umm us taxpayers.
Anyone with a 4 th grade education in math can see the totally unsustainable Government entitlements that are bankrupting this country.

Great!. Hope interest rates go up to 20% so I can put my money in bank CDs paying 15%!!! Then, there goes the stock market...Ha!

Fear Tactics, No Need to raise the debe ceiling ever, if we can not afford it, then don't spend it.

Simple. Instead of raising the debt ceiling, CUT government spending across the board. Government is way too big.

So now David Walker, "Mr. We Have to Cut Spending", wants to raise the debt ceiling so we can borrow more? Which is it, David?

The United States accounts for 47 percent of the world���s total military spending,

Total Outlays (Federal Funds): $2,650 billion
MILITARY: 54% and $1,449 billion
NON-MILITARY: 46% and $1,210 billion

AND WE ARE BROKE I

zzzzzzzzzzzzzzzzzzzzzzz. More propaganda from Government News supporting the lefty agenda, 24/7

If this falls through Obama will be remembered as one of the worst 1 term presidents of modern times because his democratic colleges held out for tax increases during an era of severe financial crisis.

Funny how all the doom & gloom predicted to happen if the debt ceiling isn't raised didn't exist when Senator Obama voted 'No' on President Bush's request to raise it..... Playing politics with American debt? You be the judge.