This is a blog about Pennsylvania!
“If the U.S. government misses a payment, it goes to D,” [Standard & Poor's managing director John Chambers told Reuters]. “That would happen right after August 4, when the bills mature, because they don’t have a grace period.”
See also: 235 economists, 6 of them Nobel Prize winners, are calling on Congress to pass a clean debt ceiling increase right away.
May 21, 2013 By Jon Geeting Leave a Comment
At one point or another, everyone has found themselves in the voting booth not knowing who all the candidates are on the primary ballot. What to do? Do not vote for that ballot line! Do not pick somebody based on a name! Do not pick somebody based on their ballot position! Resist the temptation to [...]
May 20, 2013 By Jon Geeting Leave a Comment
One of the more important issues facing Northampton County right now is making the assessment system fair and accurate. The County hasn’t reassessed in 18 years, but obviously much has changed about home values and especially land values in different neighborhoods during that time. Think of how different Forks Township and Lower Nazareth are today [...]
May 20, 2013 By Jon Geeting Leave a Comment
Gregg Bortz reports more good news is on the way for Allentown, as United Fiber and Data will be moving into a new 10-story office building downtown. It really is getting tough to keep track of all the different projects. Did I forget to even blog the story about Ruckus Brewing officially buying the Neuweiler Brewery building? [...]
May 13, 2013 By Jon Geeting Leave a Comment
The point of political blogging is not that you’ll directly reach so many voters that you’ll shape opinions about elections. The point is that for every couple dozen low-information voters, there’s a *political friend* who people ask who to vote for the week before an election. The point of blogging is to shape the opinions [...]
Copyright © 2013 · Nomadic Theme on Genesis Framework · WordPress · Log in
Sorry Jon, I missed the part about anyone stating they wanted to miss payments on US debt?
How about Pat Toomey? Toomey has said multiple times that a brief default wouldn't be a problem.
Haven't seen him say that, can you show me where?
I saw where Toomey talked about what Stan Druckenmiller said in that regard, but I did not hear him advocate it.
What a bunch of delusional drunks…
Yeah, we just HAVE to KEEP SPENDING and SPENDING…
Toomey: "As I’ve said before, if we can get the things that I’m looking for, the spending cuts, the reforms in the process, I’m willing to vote to raise the debt limit because it is very disruptive. I don’t think it’s going to have an adverse impact on the economy for the days or weeks or perhaps even months that this would continue, I doubt that it would be that long, I doubt that it would be disruptive to the economy per se, but it would be disruptive certainly to the people who are accustomed to and relying on the programs that would necessarily be cut."
I can't find a direct quote from Toomey saying we shouldn't pay the *bondholders* but defaulting on non-bond obligations is still defaulting. His position is that we should default on Social Security and Medicare payments.