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A cliff and if we keep walking in that direction, very soon, we will fall off. We may fall off on october 16 or october 17 or are over 25 or november 1 but we will fall off. The most interesting the most important point is we dont know which day we will fall off. The markets are somewhat mystical. They can come to the view that the u. S. Will default and anticipate that and treasuries go down in value and Interest Rates go up much of our Financial System freezes and we are back where we were in 2008 when aig failed. I want to ask you this question to be clear, isnt there a risk almost every single day starting around october 17, even perhaps a day or two earlier, and we cant tell exactly when we will not have enough money to pay our bills and default could occur . Even if you laid out the most meticulous plan and the world. I have been trying to be as transparent as possibl ....
There has been a minority that is held up the ability to go to a budget conference. Quite frankly, the majority needs to speak at some point. Im not talking about democrats or republicans. Im talking about a majority in this body that needs to speak to stop this kind of craziness. Lets get down to real life. Agriculture is pretty big and oklahoma pretty big in oklahoma. Operating loans are a pretty ommon thing. If we default, can you tell me what the impact will be on somebody going to get a oan . We still have to beat. Hopefully the lending will be available in the borrowing will be available. Any time there is the chill, the panic of uncertainty, there is a pullback. There will be a pullback. We will all scramble around to try to do the best we can to find quality borrowers and quality lenders. You will have commercial ctivity. In the act particularly, as you well know, there is a real linkage between what happens in washington and what happens on your farm or ranch. We have to be se ....
Our systems were not designed to not pay our bills. The legal issues are many. I do not know how you could make the legal issues are many. I do not know how you could make the decisions and i do not think the legal authorities are clear at all and i do not think the administrative process would permit the system to work. We write roughly 80 million checks per month. The systems are automated tube a because for 224 years, the policy of congress and every president is we pay our bills. You cannot go into those systems and easily make them pay some things and not other things. They were not designed that way because it was never the policy of this government to be in a position that we would have to be in if we could not pay all our bills. If you were to prioritize, its my understanding, we know what youre out pay obligations are to some degree. We have a Social Security payment due and major medicare bills do. On the other hand, kn ....
Ridiculous the way we kind of lost, i think, our bearings on what economics is. Another thing thats burning me about verybodys talking backing the american dollars. What i was taught when i was in college is that the goods and services that a country produces is what backs the currency. If youre not producing anything, you havent got any backing. Alan you said youre a farmer. What do you grow . Farmer rancher. Wheat and corn and alfalfa hay. And thats another thing, we have a direct payment thats due to us that cant be paid for us right now. Its been a whole year in the making. I get 7,000 a year on usually on the deal. Were not going to get that until the government guys and the usda can go back to work. Ok. Alan, thanks for tuning in late in the afternoon in utah. We appreciate it. Thank you. And by the way you can check ut those numbers at u. S. Debt clock. Org. Right now 16. 9 trillion and change. Had the democrats been serious about a consensus solution, they never would have clos ....
Senior Vice President , auction. Com, steve moore, Heritage Foundation and vera gibbons who blogs for zillow. I want to start with you, vera. We have 10 million americans underwater. , they owe more than their house is worth. This is six years after the housing bust. How is this impacting the Housing Market . Number is coming down so thats a good thing. Zillow expects number of unwater homeowners to drop to 1 in First Quarter of 2015. That is problematic. If youre underwater you cant do anything. Youre stuck between a rock and a hard place. If youre stuck where you are you can not trade up and buyers cant get in. You cant make a way for those firsttime buyers. There also stuck between a rock and a hard place. Gerri rick, i understand folks having hardest problem ....