Debt Ceiling: Plan B

[DonCoquixote]

If the GOP does not raise the debt ceiling, what is Plan B? If any?

[BzaDem]

1. Then the government will stop its paychecks, contractor payments, SS, Medicare, etc. until they do.

It will be like a government shutdown, but much worse. The fallout on Republicans won't be pretty for them.

[DonCoquixote]

3. Will The GOP take the blame

Or will the MSM sell it as Obama's fault?

[Egnever]

7. I think short term republicans will

Long term i think the damage it will do will remain long after the government is back in business. I think we will see a higher unemployment rate long term if this happens than we would if it does not as well as other detrimental effects that wont be so easily tied to the republicans shut down. I think it will be easy at that point to sell it as an Obama failure maybe just in time for the elections ....

[Egnever]

4. I think the republicans are hoping that

They can keep the shut down relatively short so that there will be a short term backlash and claim victory in the end. With the hopes that the long term damage that will be caused by the stoppage will have a more detrimental impact on Obama as its effects ripple through the economy in future months.

Thats my tinfoil hat theory.

Yea we shut the government down but we had to to stop the runaway government that is causing this economic heartache,,,, The american people are just dumb enough to buy it too.

[Yupster]

8. It's not like the government won't be getting any money in

Your paychecks will still have taxes withheld and the tax money will go to the government.

The government just won't be able to borrow. It will still be able to spend as much as it brings in.

[originalpckelly]

9. No, it has to pay interest on the old debt, remember.

It has to give the purchasers of the government's bond coming due, the full face value of the bond/t-bill, in order to not default.

That actually means, they not only have to pay the interest on the debt, but the actual entire value of the bond.

People really don't realize the kind of shell game that goes on in this system.

[Drunken Irishman]

2. There is no Plan B. We're screwed if it goes to that...

The country will come to an unprecedented halt.

[MannyGoldstein]

5. Therefore we must do anything the Republicans want

At least if we do whatever we want, we can say "bipartisan".

[liberal_mama]

6. No Plan B, It's a Game of Chicken.

Republicans need the debt ceiling raised as much as the Dems do. Dems shouldn't give them anything in return.

[mmonk]

10. Yep.

Brinksmanship.