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Great debt ceiling quote

Discussion in 'Sports and News' started by Dick Whitman, Jul 28, 2011.

  1. Dick Whitman

    Dick Whitman Well-Known Member

    I think this sums it up:

    "The full consequences of a default - or even the serious prospect of a default - by the United States are impossible to predict and awesome to contemplate. Denigration of the full faith and credit of the United States would have substantial effects on the domestic financial markets and on the value of the dollar in exchange markets. The Nation can ill afford to allow such a result."

    -- Jimmy Carter
  2. YankeeFan

    YankeeFan Well-Known Member

    Somehow, I doubt President Obama will be quoting President Carter in order to rally support.

    He's much prefer to quote President Reagan.

    (Should have Googled the quote first.)
  3. Armchair_QB

    Armchair_QB Well-Known Member

    Might as well use the quote. Only difference between this term and Carter's is the lack of a hostage situation and a killer rabbit rising out of a Georgia swamp.
  4. Dick Whitman

    Dick Whitman Well-Known Member

    Carter might not have been a great President, but I think he was dead-on about the debt ceiling.
  5. YankeeFan

    YankeeFan Well-Known Member

    Ok trivia question:

    In Reagan's eight years in office, how many times did the debt ceiling need to be raised?
  6. Dick Whitman

    Dick Whitman Well-Known Member

    What does Reagan have to do with anything?
  7. Dick Whitman

    Dick Whitman Well-Known Member

    I can't tell if it's 17 or 18 from the story I read.
  8. Football_Bat

    Football_Bat Well-Known Member

  9. YankeeFan

    YankeeFan Well-Known Member

    I believe it was 17.

    So, on average, what was the length of each extension?
  10. BTExpress

    BTExpress Well-Known Member

    And a 13-point difference in mortgage rates.
  11. The Big Ragu

    The Big Ragu Moderator Staff Member

    It sounds like the former president is having his only little crisis of confidence.
  12. Starman

    Starman Well-Known Member

    Well, his election opponent committing treason by negotiating a deal with Iranian ayatollahs to keep hostages in captivity until after the election, too, but we've got a year or so to go, so give them time.
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