Yea, but do the republicans? There aren't enough conservatives to do the job.
Republican
Conservative
Posted on 01/17/2013 3:31:13 AM PST by Moseley
President Obama should violate the debt ceiling, Nancy Pelosi and other Democrats are urging. Force Republicans to sue in court. Democrats are already violating legal requirements to pass a national budget each year. Republicans would lose even more influence if Democrats broke more laws.
So does the national debt ceiling have 'teeth?' What would happen if Barack Obama simply shattered the debt ceiling, to avoid negotiating with Congressional Republicans?
Democrats argue it would take a long time for appeals courts to wrangle through the dispute. Obama could go on spending for years while unpredictable judges sort it all out. In the interim, Obama could get his way.
Democrats are beating the drum that Congress voted for the spending, so Obama faces legal uncertainty. In truth, Congress has not voted for a budget since Obama took office. A temporary Continuing Resolution expires on March 27, 2013. Democrats are fretting about paying debts. But of course new spending is not a debt. Republicans are just gearing up with the revelation that Senator Obama voted against a debt ceiling increase in 2006:
Increasing America's debt weakens us domestically and internationally. . . . Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better. I therefore intend to oppose the effort to increase America's debt limit.
-- Senator Barack Obama, Congressional Record, March 16, 2006.
First, investors would just stop loaning money. Who will buy government bonds that are worthless, null and void? Any Treasury bonds sold in excess of the debt ceiling will be legally invalid. If there is legal uncertainty, investors might be buying worthless pieces of paper.
(Excerpt) Read more at americanthinker.com ...
Republican leaders are useless, welcome to tyranny everyone, Obama will not leave office.
Violates it? With Boehner negotiating for the working citizens? Please! That thought even has obama, Reid and Pelosi chuckling.
Once you get past the joke premise, it's a pretty interesting article.
Yea, but do the republicans? There aren't enough conservatives to do the job.
Republican
Conservative
Violates it? With Boehner negotiating for the working citizens? Please! That thought even has obama, Reid and Pelosi chuckling.
Once you get past the joke premise, it's a pretty interesting article.
The article mentions government hiring freezes. It has already started for the defense department because of the sequestration. I doubt any other department is making plans but they should.
http://www.govexec.com/defense/2013/01/panetta-orders-civilian-hiring-freeze-contract-delays-amid-budget-uncertainty/60607/
The Pentagon will begin to take “prudent measures” in the coming weeks to prepare for a possible perfect storm of budget cuts, Defense Secretary Leon Panetta said during a press briefing Thursday.
Those precautions include a civilian hiring freeze, delaying some contract awards and trimming non-essential facilities maintenance, he said. In addition, Defense Department components must start more detailed planning for the across-the-board budget cuts that are now scheduled to hit March 1 if Congress does not reach a deal on spending reductions.
The more specific sequestration strategies should include plans to implement unpaid furloughs of civilian workers, Panetta added. “I want to be clear: It’s precautionary,” he said. “But I have an obligation to – to let Congress know that we may have to do that, and I very much hope that we will not have to furlough anyone.”
Why would O do that?
He can just force Rs to increase the debt limit which is what he will do.
The GOP will do its symbolic vote thing, speak some tough words on TV, then they will give O what he wants and then again form the circular firing squad :’That Bohner sold us out again’, lots of wailing and drama again.
This record is played over and over, why the science fiction?
I guess these conspiracy theories entertain, how about that coin?
Emperor Obama will not violate it. He will simply issue an executive order moving it to a higher level.
Obama is the kind of ruler that we fought to get rid of during our war of independence from England.
The real bite from the debt ceiling would come if it forces interest rates up. Interest rates have been kept artificially low by the Federal Reserve on purpose. Almost nobody talks about this, and if they do its in a negative light, but rising interest rates would actually have several POSITIVE effects:
1. Rising income for savers. People who actually save their income have been getting the short end of the stick due to low rates on their CDs.
2. Higher Government borrowing costs. This would serve to bring the spending problem to a head and is the #1 thing that can force entitlement reform. Artificially low interest rates are enable Government spending, period.
Right now we live in a dysfunctional environment where the more Government borrows, the lower interest rates get. That’s really the opposite of what SHOULD happen and is an indicator of how distorted our Economy really is.
Informative. Thanks for the post.
Newt must have had all of his teeth fall out, too. From the way he is talking, we should all just bend over BOHICA style and accept whatever number Mr. Soetoro wants to put down as the next phony debt limit. Cave on taxes, cave on spending increaes, cave on a half-sequester (cut defense, but keep domestic spending), and cave on blowing a hole in the debt limit. Boehner has established a new career in spelunking.
Benbernank and the Federal Reserve.
I think it is much worse than that. The Republicans understand that the Revolution is in progress and are trying to show they are really on the side of the new Rulers and shouldn't be shot when the cleaning out process commences. Or, failing that, "Please eat me last. (whimper)."
Reid has failed to pass a budget in 4 years. You would think there would be a price to pay. Nope. None. Nada.
Obama has violated the Constitution several times, with illegal recess appointments, unvetted czars, & executive orders contrary to written law. He can continue violating the Constitution with impunity because the Constitution fails to penalize the President for such crimes.
The only way to prosecute the President is through Impeachment, a thoroughly POLITICAL process that, given our partisan divide & 2/3 majority requirement, has little chance of conviction. The only way to depose an irresponsible Senate Majority Leader is for the Majority party to vote him out as leader.
Since it is more likely to snow in Miami, both men are essentially above the law & Constitution.
There is no “debt ceiling”.
Congress cannot limit the powers of Congress by statute, only by constitutional amendment.
Congress has unrestricted power to borrow money, unless Article I has been amended. This whole controversy is a fraud.
Our “conservatites,” Tea Party and other, show just much agility in the leftward kowtow as do the Boenerites. Without their votes we would not have got unlimited detention-without-warant-or-trial and we wouldn’t have got Boener again and a lot of etc.
Remember something.
ALL the banks in America are PRIVATE BANKS!!
They are part of the Federal Reserve System.
They can, any time they want, AFAIK, simply tell grandma when she comes in with her SS check “Sorry... that account is overdrawn...”
I think it’s already happened a few times that the government was told this might happen.
Hence the bank bailouts. They KNEW they were gonna lose their rears in the real estate blow-up.
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