The Previous Post was an analysis of the Republican threat not to raise the National Debt Ceiling and its implications for our short-term and long-term economic situation. As with many of my economic posts, this seemed to have disappeared in the Google Monster.
All I wanted to say was that Eric Cantor's threat to close the government if tax cuts for the rich aren't passed would mean the nearly half the government would cease overnight. The US would have to maintain its interest payments on its debt. but seriously jeopardized would be the operations in Iraq and Afghanistan, social security and medicare payments as well as unemployment insurance. It would also ake us an economic pariah globally. It also would lead to a rapid search by the global community for another reserve currency.
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