The Consequences of Default, and How it Affects You

Senator Coons warns individuals and families about tough choices the government would have to make, if the GOP forces the nation to default on its debt for the first time in history.

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[liyah623]

And please taking away ideology it is disegenuous to claim that this is the democrats fault. The tax cuts, wars and the Medical drug program, and the bank bailout were all the workings of Bush...... Those are the ones that keep spilling into extended budgets.. Bush both cut revenue and increased expenditure which is why there is a deficit since he was President

[ronrayah]

@mateofleckito

You sound like the joke, Default will tank the dollar faster than people leave the room when you show up.

We default and our treasury bond become worthless,interest rates will skyrocket and no bodies investments will be safe.

The problem is republican voters going to the polls and voting for people that aren't interested in effectively governing our country. GOP= RACIST ANTI INTELLECTUAL BIBLE THUMPERS INTERESTED ONLY IN HURTING MINORITIES.

[InuzukaCds]

So basically we're fucked! Great!

[lazyperfectionist1]

Well, you see, cutting taxes for the absurdly wealthy creates jobs. After all, it's only a matter of time before all these billionairs become so wealthy that they go on a frenzy and start hiring people left and right just because. One can only stand to have so much money.

[lazyperfectionist1]

No doubt, Republicans define "core commitments" as big oil subsidies, nuclear subsidies, military spending, and that sort of thing.

[parsonman05]

When families around the world see a problem like this they do two thing cut back a little on EVERYTHING, and two ask all members of the house who are able to work to help bring in some more money in the house. So, someone tell me why is the US government is acting like battered wife, allowing they drunken husband of a economy run wild with less and less control everyday and think that it will bring everything under control !?!

[trexilll]

@dpetrano Socialist

[trexilll]

The GOP isn't forcing this country to default. The GOP is trying to force the government to LIVE WITHIN THEIR MEANS. How is that such a big deal? WE CANNOT AFFORD ENTITLEMENTS. PERIOD. WE CANNOT AFFORD POLICING HE WORLD. CASE CLOSED. Balance the budget.

[dpetrano]

Senator, you offer no solution. America needs motivated. it's easy to do. Tell them 9/11 was an inside job and blame all our woes on those traitors who orchestrated 9/11 (Bush Cheney, etc), then suggestions I made 5 minutes ago.

[dpetrano]

There's no middle ground:

End the wars, prosecute war crimes, disgorge war profits, release classified documents to prove 9/11 was inside job/ hang everyone responsible (after an open trial).

return Ike-era 90% income taxes on rich, phase-out free trade, invoke high import taxes and restart USA factories so we make 100% of what we consume .

rebuild infrastructure, move cities to higher ground, solar/wind electricity everywhere.

[katemail00]

Thank you for this video. It really makes it easy to visualize what's going on.