frayne
Thinks s/he gets paid by the post
Does anyone really know or understand the ramifications and the potential impact for people say of our demographic, retired, debt free, and living off investment income, social security, etc. ?
I suspect this is a scare tactic. I don't see this happening even if there IS a default. I think any spending locked in by law would take first priority; it would be all the "non-essential" spending not locked in by law which would get eliminated. This is one of the last areas that would get hit.The thought that we may not get our SS checks is frightening indeed!
No. The stakes are too high, and the issues are too complex for us to be able to understand all the ramifications of a government default.
While I hope not, seems to me a short lived default is quite possible as each side looks for leverage to get their position accepted. Now if the President and members of congress stopped getting paid, they would have some real skin in the game, like the rest of us.
Heck, I retired in May, 2007 (with no pension nor SS).I will admit to being nervous on this. We just retired in April, and the thought of a market slide does concern me....
Yawn! Just a political maneuver as was the government shutting down a couple of months ago.
It is just too easy to raise the debt ceiling and to hard and unpopular to opt for the default. What politician wants to be remembered for not voting to keep the government from defaulting?