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Old 09-08-2014 | 11:25 AM
  #51  
kfahmi
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From: RJ right-seat warmer
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Originally Posted by tom11011
Ron Paul had an interesting suggestion in that Congress could just pass a law wiping the debt free.
I wonder if Mr. Paul realizes that, if this were to happen:

1. Many millions of Americans would see their retirements vanish. It's not like our debt is simply to 'the Chinese.' T-bills, savings bonds...all owned by good ol' 'Muricans that Mr. Paul claims to represent, would suddenly be worthless.

2. Our credit rating would plunge to that of Rwanda's. We'd essentially not be able to borrow any money for the foreseeable future, resulting in a massive economic collapse in this country, which in turn would plunge the world into a depression that would make the Great Depression seem like a cakewalk.

It truly amazes me that people possessed of so few brain cells can be elected to an office such as Mr. Paul's.
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