A default on our debts as a result of not meeting our obligations would be a disaster for the stock market, and Americans would see their retirement funds shrivel up.
Sentiment: NEGATIVE
I certainly don't want our nation to go into default, but at the same time, I'm very concerned about our ongoing debt problem.
After everyone has had a chance to bluster, posture, and pontificate, we are left with one basic question: under any foreseeable circumstance, would it be in our national interest to default on our debt? The answer is unequivocally no.
If we reach the debt ceiling, we don't have to default. Getting to that point just won't allow us to reach new debt.
Nobody wants the United States to default on its debt. Nobody. But, at some point in time, we've got to address the fiscal woes of this nation.
I do not want America to default on its debt.
The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
Nobody wants to put the creditworthiness of the United States in jeopardy. Nobody wants to see the United States default. So we've got to seize this moment, and we have to seize it soon.
I think what's important to understand is if the United States hits the debt ceiling and is unable to pay its debts, the consequences will be immediate and dramatic.
I'm afraid sometimes certain individual cases of defaults are unavoidable. What we should do is to step up monitoring, properly handle relevant matters, and ensure there is no regional and systemic financial risk.
Once our country is fully engulfed in a debt crisis, our economy will be torn apart, and every American will be a victim of the federal government's failure to prevent this disaster.
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