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View Full Version : One chart destroys the debt ceiling truthers.



Cigar
10-07-2013, 11:51 AM
http://static3.businessinsider.com/image/5252d4e66bb3f78555fdcbbf-800-/cotd-56.jpg

A common argument among those who are sanguine about using the debt ceiling as political leverage is that breaching the debt ceiling wouldn't mean default.
They argue that the Treasury has plenty of money coming in each day to cover interest payments, and so therefore the Treasury can just prioritize debt payments (ahead of other spending) and avoid default.
There are two problems with this.


The first is that legally and technically, prioritization might be impossible (http://www.businessinsider.com/can-the-treasury-prioritize-payments-if-the-debt-ceiling-is-breached-2013-10).


Here's the other problem. It's not true that on all days the Treasury has more money coming in than it has to pay out. As Goldman Sachs points out, the receipts/payments schedule is lumpy. The U.S. might be able to prioritize for a few days, but come November the U.S. would have to pay way more than was coming in that day, and we'd have a real breach no matter what.


http://www.businessinsider.com/chart-of-the-day-this-chart-destroys-the-debt-ceiling-truthers-2013-10#ixzz2h3WcVKUe

Peter1469
10-07-2013, 11:55 AM
What is your solution? Fire up the printers?

AmazonTania
10-07-2013, 11:56 AM
Actually, that's not what your chart shows at all. And it's probably safe to assume that you didn't read your own sources, either.

Cthulhu
10-07-2013, 12:03 PM
A chart produced by Goldman Sachs on the debt limit not being a horrible thing? As a source?

That's rich.

Cigar
10-07-2013, 12:06 PM
What is your solution? Fire up the printers?

A few of these should cover it ... :laugh:

http://hoboduke.files.wordpress.com/2012/02/one_trillion_dollar_bill.jpg

Cigar
10-07-2013, 12:07 PM
A chart produced by Goldman Sachs on the debt limit not being a horrible thing? As a source?

That's rich.

Yes they are ... :laugh:

Cthulhu
10-07-2013, 12:09 PM
Yes they are ... :laugh:

They are rich in that which is worthless - money. Ergo, they are not a rich as you'd think.

Cigar
10-07-2013, 12:09 PM
Actually, that's not what your chart shows at all. And it's probably safe to assume that you didn't read your own sources, either.

The chart shows the in-coming and out-going no symmetrical ... make of it what you want.

It's what I do when you do the same thing

Cigar
10-07-2013, 12:11 PM
They are rich in that which is worthless - money. Ergo, they are not a rich as you'd think.



Stop thinking ... it's not your strong suit.

Cthulhu
10-07-2013, 12:12 PM
Stop thinking ... it's not your strong suit.

Good advice, best spoken to the one in your mirror.

AmazonTania
10-07-2013, 12:12 PM
The chart shows the in-coming and out-going no symmetrical ... make of it what you want.

It's what I do when you do the same thing

Clearly you are not capable of comprehending the data present in the chart, nor capable of what is even going on. I'd explain it to you if I'd thought you'd understand it.

Mainecoons
10-07-2013, 12:14 PM
We could start by asking him to put that in English, but we already know he can't do that.

:rofl:

Cigar
10-07-2013, 01:24 PM
We could start by asking him to put that in English, but we already know he can't do that.

:rofl:

F**K - Y*U - Need it in Sign Language ?

Cigar
10-07-2013, 01:26 PM
Clearly you are not capable of comprehending the data present in the chart, nor capable of what is even going on. I'd explain it to you if I'd thought you'd understand it.

Take your complaint up with Business Insider; it's their Chart and their Headline; I just posted it, you don't have to like it.

AmazonTania
10-07-2013, 01:39 PM
Take your complaint up with Business Insider; it's their Chart and their Headline; I just posted it, you don't have to like it.

It's not their chart. The chart originated from Goldman Sachs research division. This shows how willing you actually are in taking the time to find out what the topic is about before giving your opinion.

And who's fault is it exactly that you aren't vetting your sources? First you incorrectly tried to explain what the data was representing, then your excuse is that the story was published on Business Insider. If you aren't going to take the time to learn about the topics you are starting, save yourself the embarrassment of posting a thread. It's that simple.

Cigar
10-07-2013, 01:49 PM
It's not their chart. The chart originated from Goldman Sachs research division. This shows how willing you actually are in taking the time to find out what the topic is about before giving your opinion.

And who's fault is it exactly that you aren't vetting your sources? First you incorrectly tried to explain what the data was representing, then your excuse is that the story was published on Business Insider. If you aren't going to take the time to learn about the topics you are starting, save yourself the embarrassment of posting a thread. It's that simple.

:f_doh: O-geesh ... the depths of denial one goes to ... the data was derived from the Treasury by Goldman Sachs and published by Business Insider.

Stop your whining well yea ... are you saying it's wrong or not; Geeesh ... stop s scratching the Chalk Board will yea ...

AmazonTania
10-07-2013, 01:57 PM
:f_doh: O-geesh ... the depths of denial one goes to ... the data was derived from the Treasury by Goldman Sachs and published by Business Insider.

Stop your whining well yea ... are you saying it's wrong or not; Geeesh ... stop s scratching the Chalk Board will yea ...

Maybe if you had some modicum of understand about the topic I wouldn't have to. It's rather easy pointing out your blatant ignorance. Not that it was very difficult.