How to Prepare for the Debt Deadline

Reader Comments
Back to blog

It should not be about cutting Social Security or Veteran's Benefits. It should be about a flat tax with no deductions for everyone in America making over $500,000 a year! It should be about anyone making more than $250,000 in other income CANNOT also recieve a Social Security check or Government Pension check! We will not see fair taxes or this kind of clean up until the Republican party dies out!

Carol of NC 3:40AM July 18, 2011

There is no way in hey we are ever going to be able to pay it all back so I say go ahead and default lets just get it over with.
Two weeks is just enough time to get your savings out of fiat currency buy gold coins and bury them in the backyard.

Bill of TN 2:11AM July 17, 2011

What if this is not a "Cry Wolf" scenario? I will have to work as much as possible to pay for my Grandmother to keep her home because she will not get her SSI. Maybe just maybe they can bring jobs back to America instead of paying some poor country a bag of rice a day to do jobs we can, and would do if they were here for us. Wait that would mean some big shot would not be able to have that yacht or that time share in a remote island or a house they can't even walk through in a day. Yeah that’s right we can't do that. We can't take money from the ones who make ridiculous amounts of profit while the lower class suffers. Yeah that would make no sense. What if …..never mind it’s not worth the time to mention.

Bob Smith of KY 10:45PM July 16, 2011

As a disabled veteran that is totally dependent on my Veteran's comp for disabilities sustained during my service that do no allow me to continue in my profession, what the hell am I supposed to tell my children about the prospect of my home being foreclosed upon and my car being repossessed, my hard earned credit destroyed because these idiots, Obama and the Republicans, cannot get their act together unless it involves bail outs to Wall Street or the banks or giving money to foreign causes? How does a disabled vet build cash reserves when putting a son through college and looking at checks that have not gone up in two years when fuel, utilities, food, and housing have? I served my country during wartime, I took short notice assignments that tore me away from my children, I lost a marriage over my service, and now I am disabled and seeing the one promise they made to us, that we would not be left homeless or hungry if our service to our Nation permanently damaged us. Thanks America.

Ray of OK 12:04PM July 16, 2011

I appreciate this article. I'm very nervous about what a default would do to the value of the dollar and my hard-earned savings. I think that America has more than a spending problem. We have a cultural problem. We can't really have a credit and consumer based economy (thus businesses depend on people not saving) and then expect people to have savings later on.
Anyway, if the Republicans are truly serious about putting America's fiscal house back in order, then defaulting on our debt seems to be about the most irresponsible things they can do. We will pay for that.

Emily of GA 4:42PM July 15, 2011

I as an average person, say "is this anything like Y2K, or two years ago when there was the flu pandemic alarm?" The media, congress has beaten the drum of alarm far too often for anyone to really care. The debt ceiling will be raised and everyone will pat one another's back saying that they got the other party right where they want them. There will be cuts in spending, taxes will be raised and we will continue as we have always done. Congress will yell back and forth, the president (and it doesn't matter democrat or republican) will take to the airwaves, stocks will go up and down. Food will increase as will gas, people will maybe have a garden and learn to can and life will go on.
Those that can save will, those who can't because they don't have money will not be able to ride out various tough times. All we can really do is help one another as best we can because life does go on.

lifegoeson of MD 2:07PM July 15, 2011