Quote:
Originally Posted by guy44
I don't think this should be a partisan issue. I think it is true that this wouldn't pass in a Democrat-led Congress, but a whole bunch of Dems voted against cloture (the only way to stop the bill) and then voted against the bill to pretend to be opposed to it, so the way I see things both sides are at fault.
Also, this bill has nothing to do with people "gaming" the system. Sure, some people do that, but it more has to do with this:
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With your quote (I don't know how to post it), it shows the problem we face.
As I stated above, yes short term (and that is all we (as a nation) seem to really focus on anymore) the credit card companies and the debt holders do get their billions.
However, in the end the whole world suffers because once the middle calss can no longer afford to buy and consume at the standard today, everyone loses.
What good is owning all the land and housing when noone can afford to live in it? What good is owning debt when noone can pay it off?
In the end we're facing quite possibly a depression that will send us back to the dark ages.
If the US fails and we can't pay our debts every other country suffers and eventually will go into depression because they rely on us to consume, our "aid" and our debts. Selling companies to overseas countries may go unnoticed, but trust me foreign countries send troops over or demanding payment will not get very far with the people, and lead to war.