Liberty Or Debt

Investors.com ^ | March 19, 2010 | INVESTORS BUSINESS DAILY Staff

[JLLH]

And who will make us buy it if the courts DON’T overturn it? There are still FAR MORE of us and than there are of THEM and WE ARE ARMED (should it come to that, which it may but we still have many things to happen prior to that). (Thanks for the post!)

[RKBA Democrat]

That’s a great photo. And very true.

You gotta ask yourself: why should a child who is 3 years old now agree to be saddled with the payments on a national debt that will be about in the $70,000 range when they become an adult? (And that’s just assuming compounded interest of 4%.)

The answer: they shouldn’t and they won’t. Debt repudiation isn’t so much an “if” but a “when.” Tomorrow’s adults are not going to agree to be saddled with an unconscionable level of debt that they had no part in creating and never agreed to repay.

We’re effectively bankrupt. The sooner we default, the sooner the rebuilding starts.

[Oceander]

You're absolutely correct. And, unfortunately for you and I, and probably for our children, too, there is going to be a great deal of pain - pain that could have been avoided if the DEEM-ocrats had chosen to act like responsible adults and not like a bunch of college sophmore ideologues, reeling like drunk sailors because they think they just grasped the essential insights of marxism - because our creditors are not going to be particularly happy when that default occurs, and they will exact their pound of flesh one way or the other. The only silver lining to an intentional default is this: better for us to choose the timing of the default, then to leave the choice of timing up to the Chinese, because they will most certainly use a default as a weapon, and will choose a time when forcing us into a default would cause maximal damage to us.

[RKBA Democrat]

Agree that timing is everything. But keep in mind that the mere threat of default will turn the debt toxic. Giving the devil his due: James Carville was right.

One side benefit of defaulting is that it makes a balanced budget amendment a distinct probability. The politicians will never agree to it so long as they can go into debt. Take that ability away and there is no reason to stop the amendment from being pased. It won’t matter for us, but our grandkids will thank us.

[Oceander]

I certainly hope that we have the strength of will needed to make our grandkids proud of us, because right now I'm very disappointed in us, and I have a feeling that our kids will be disappointed in us as well.

[sergeantdave]

“Monday may very well be one of the most interesting days we wake up to in our countries history...”

I think the meeting at the old North Bridge in 1775 was also interesting because it showed Americans that tyrants bleed and die like anyone else.

[RKBA Democrat]

“I certainly hope that we have the strength of will needed to make our grandkids proud of us..”

With all respect, I don’t think our will is going to much enter into the equation. It’s going to boil down to a decision made by multitudes of debtholders. Once those who are providing the funding decide that they’re unlikely to see payment, and that day is coming irregardless, we’re going to be on forced austerity. I just think we’re better off having that day come sooner rather than later.

As with sovereign defaults elsewhere, what happens to the population at large will be categorized as “unfortunate collateral damage.”

[Oceander]

True, but it is still better to be the master of your own destiny, even if that means nothing more than choosing the time of default. It is worse to be a coward and hide behind fantasies of redemption or exoneration - as the DEEM-ocrats do - than to face up to one's punishment like a man. Therefore, it would still be better for the decision to default to be made here, after deliberation, rather than being forced on us by, for example, the Chinese unexpectedly dumping all of their treasuries onto the market right at the time that Obastard's Fed is trying to flog several hundred billion dollars of new debt out into the markets.

[RKBA Democrat]

Oh, I agree. We should have no illusions that this is going to be some sort of exoneration. We will pay dearly for this even if we turn our backs on the national debt tomorrow.

[katiedidit1]

Yes, I lived in the Norfolk area. There was no place on earth more beautiful than Norfolk in the 50’s and 60’s.
Always will love Virginia:))
Thrilled to see the new gop governor elected as I was very upset over what happened with Sen George Allen

[cranked]

States that are agains this need to stop mucking around and simply legislatively NULLIFY ObamaCare if it is passed and signed into Federal Law. The primary principle behind States passing such legislation is nullification ...of ObamaCare. The legal theory and practice behind nullification is that when a state nullifies a federal law, such as ObamaCare, it is proclaiming that the law in question is null and void, inoperative, or non-effective, within the boundaries of that State or, in other words, not a law as far as the state is concerned.

[stevie_d_64]

Maybe you do, maybe you do not...But do you realize this AND other un-Constitutional Federal laws are not easily “nullified” as you and many others believe is ALL that needs to be done...

The feduciary revenue generating mechanism in MOST Federal laws is the key...A state cannot simply declare the law to be un-Constitutional or non-binding, when the tax man comes the checks ALL go to that big pot of gold that has more hands in it than a two year olds birthday cake...Most states have not figured out how to control where their Constitutional and legal revenue obligations when it hits the Federal coffers...

This WHOLE issue since Obama hit the scene is still too new and fast paced for states to get their act together...But, it is getting there...

Texas is working on a bill right now, that unfortunately the legislature only seats every two years on the odd year, meaning January 2011...When that bill hits the floor, we thought the Voter ID bill (last session) was polarizing...hehehe, this will go thermonuclear...

It will give teeth (fangs) to the non-binding declaration last session of our states rights in regards to the Tenth Amendment...

Texas along with a whole gaggle of other states are preparing these bills, and their prospective AG’s are being told to be ready to file lawsuits on the Fed as a result of just this one healthcare bill...

So I believe the healthcare bill will barely squeek by and be passed...The democrats are going to gloat, and we are all going to be pretty pizzed that they did this...

As a result, they believe that we do not have the guts to follow thru with our efforts...

So I recommend we reside ourselves to the fact that the healthcare bill will pass, because they need it too, to immediately inact the taxing mechanisms and collection of revenue immediately...That has been their only plan from the begining...It is not about doing anything but controlling the healthcare industry and destroying it, with the ability to tax us to new levels and redistribute just like Obama wanted to do all along...

It is that simple...

So, lets hope we put as much pressure on our conservative Reps and Senators to get off their collective arses and follow thru to defund this healthcare law, and get the other un-Constitutional laws that effect us on the chopping block...

And you know they are not going to go down without a fight, because the central theme to un-Constitutional laws are the taxes and entitlements that feed their own voting base...

Lets hope that this will be a war without firing a shot, because in that case we all lose...

[cranked]

Perhaps, such unConstitutional laws are not that easy to be nullified but they can be nullified. History provides sufficient examples starting with 1832 and as late as 2009.

http://www.tenthamendmentcenter.com/2009/08/12/will-michigan-nullify-federal-gun-laws/

[tbw2]

What groups are readying the legal challenges? Such a list on freerepublic could lead to lots of financial support for the right side.

[ding_dong_daddy_from_dumas]

Texas is working on a bill right now, that unfortunately the legislature only seats every two years on the odd year

Actually, that provision is there to prevent the legislature from spending money all the time. And Perry could call a special session at any time.

[ding_dong_daddy_from_dumas]

[Allegra]

I’ve already read/heard from a few sources that there are several constitutional challenges ready to go if those morons pass this monstrosity.

[stevie_d_64]

Got that right...

The calls Monday to our state reps and senators should rival what has been going on up in D.C. late this week...

Calls to Gov. Perry to call a special session is in my opinion in order...They should do this...

[ding_dong_daddy_from_dumas]

Legal challenges may not work. If we can get 38 states to sue to overturn Obamacare, why not call a Constitutional convention? 38 is 3/4 of the states.

[stevie_d_64]

I agree, they may only slow this down, not stop it...

But I am wary of even a Constitutional Convention...That is a dangerous card to play...That could backfire in this case...