Republicans & Taliban Tea Partiers May Cause Mass Evictions By Refusing to Raise Debt Limit
As Republicans & Taliban Tea Partiers bring the country and world to the bring of an economic catastrophe with their insane actions of holding the raising of the debt limit hostage as a way to cut the nation’s safety net programs, one of the potential impacts have not been talked about.
What would all this really mean to you and me? Well, interest rates would soar, meaning credit card charges would rise sharply for any unpaid balances, mortgage rates would jump sharply, depressing housing prices even more, the U.S. dollar’s value would drop which would hike the price of gasoline and other imported goods, imported goods being most of what we use, and our savings would lose their value.
On top of this President Barack Obama told CBS News yesterday that he cannot guarantee that Social Security checks will go out as planned if Democrats and Republicans fail to reach a deal to raise the debt ceiling by August 2.
“This is not just a matter of Social Security checks,” Obama said. “These are veterans checks, these are folks on disability and their checks. There are about 70 million checks that go out.”
Nearly half of all government checks won’t go out: The Treasury Department would be unable to pay between 40% and 45% of the 80 million payments it needs to make every month, according to an analysis by the Bipartisan Policy Center.
This includes checks to 29 million Social Security recipients, as well as everyone from active-duty soldiers, veterans, taxpayers due refunds and federal workers.
Every legitimate economist, financial analysts and government official agrees to the pending economic doomsday scenario, yet head up his butt House Speaker John A. Boehner (R-Ohio) on Tuesday said ‘I don’t know’ what happens if debt deal isn’t reached. What????
ARE MASS EVICTIONS ON THE HORIZON?
But one big question that needs to be asked is what happens if seniors, the disabled, veterans, families of those serving in the military, federal workers and others don’t receive their checks on time? How are they going to pay the rent and mortgage? Will another part of this disaster be the mass eviction of the poor, disabled and working people from their homes?
Responsible government bodies and elected officials should be acting quickly to take precautionary measures to ensure that this does not happen.
The Los Angeles City Council, for one, should be exploring passing a temporary eviction moratorium on those dependent on federal payments to pay their rent.
Other measures should be taken to prohibit banks, who got their checks in the form of the huge federal bailouts, from foreclosing on people who can’t pay their mortgage because their federal checks have not arrived.
These actions need to be taken decisively and they need to be taken now.
Let me know what you think.