7 votes

Ted Cruz Could Force a Debt Default All by Himself

The question is: Will he?

http://www.businessweek.com/articles/2013-10-14/ted-cruz-cou...

Here’s a cheerful thought as Congress remains deadlocked over the debt ceiling and the hours tick away toward default: Senator Ted Cruz (R-Tex.), who basically forced the shutdown and whose own private polls have convinced him that it has been a glorious success, at this point could probably force a default and global economic calamity on his own—if he were so inclined. The Treasury Department says U.S. borrowing authority will expire on Thursday.

How could this happen? Because the Senate can move quickly when necessary, but only by unanimous consent. Let’s say Harry Reid (D-Nev.) and Mitch McConnell (R-Ky.) strike a deal today (that’s looking unlikely). Cruz surely won’t like it and has said repeatedly, “I will do everything necessary and anything possible to defund Obamacare.” If he’s true to his word, he could drag out the proceedings past Thursday and possibly well beyond. “If a determined band of nut jobs wants to take down the global economy, they could do it,” says Jim Manley, a former top staffer for Reid. “Under Senate rules, we are past the point of no return—there’s not anything Reid or McConnell could do about it.”

http://www.businessweek.com/articles/2013-10-14/ted-cruz-cou...



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The Dems and GOP establishment are full of crap

there is plenty of money to pay debt payment, I repeat plenty. They would have to choose other things to cut and there are thousands of places full of wasteful spending to start from.

These bastards just want more money....bottom line.

The Constitution says they have to pay the debt first and they hate that because when they do their pet projects go poof.

Seriously..they are all in

Seriously..they are all in the business of making it bigger not actually solving real problems, even everyones favorite the Rand man would still never force a default, he's status quo too hate to tell you guys..

If the US ever really does default

The US holds the world reserve currency. The prospect of a real default right now could undermine the entire system of Constitutional government we have. There will be total chaos like never seen before. In order to prevent it, the president may be inclined to declare a state of emergency, and then international creditors would make our money completely worthless. This is a good thing if you want to pay a million dollars for a loaf of bread, but I'm still living in reality and not looking forward to it.

We will not default...

That is BS. I hope Cruz refuses to vote "yea" until the individual mandate is nixed. Millions would support him.

Apparently, Halloween will be

Apparently, Halloween will be earlier this year according to the doomsayers ... Get your costumes ready within the next couple of days. ;)

And guess what,

I recently learned that Oct. 31th used to be celebrated as Reformation Day!

What a concept and how American!

Screw the gools and goblins.

Sure, all religious holidays

Sure, all religious holidays in the USA have been under attack for a LONG time, e.g. Good Friday/Resurrection and the pagan Easter. Notice how these religious celebrations of the PEOPLE are constantly perverted into pagan commercialism. All Hallows' Eve is just another usurpation of the religious celebration of the Protestant Reformation. Is the RCC behind the aforementioned usurpation? As a Christian, I certainly don't celebrate deceased "saints". ;)

OMFG!

....if I hear one more person claim that a failure to raise the debt ceiling entails or could cause a default on the debt I am going to LOSE MY FKING MIND!!! :-( !!!!!!!!!!!!!!!!

"Alas! I believe in the virtue of birds. And it only takes a feather for me to die laughing."

Even a day longer would show

Even a day longer would show people it wouldnt be the end of the world because the gov still has enough money at that point. If it goes on for another week, no garuntees though.
I just want all this over with already kinda like pulling a bandaid off quickly; except this bandaid has had hair growing through it so it will take a while to heal.

To climb the mountain, you must believe you can.