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View Diary: Paul Ryan: Debt limit must be raised (102 comments)

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  •  Sound and Fury (0+ / 0-)

    The interest on the debt is currently 8% of the budget. Cutting 8% percentage of the budget would cause a lot of suffering for the most vulnerable. However, I don't see how we get to defaulting on all our debt or shutting down all of government. It would be a mess, no doubt but  the dire warnings are  about dispelling the notion that we can take steps to start weaning the nation off of borrowing which is the last thing the rich want as the interest on the loans goes to them. There is no way that the Republicans will allow this to happen, no matter the noise they make - it is all for show. We used to be in the position to pay the debt off, but that idea so scared the elite they stole an election to make sure it could not come to pass.

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