Skip to comments.Boehner: The U.S. May Default On Its Debt If Obama Continues His Refusal To Negotiate
Posted on 10/06/2013 11:33:27 AM PDT by Cincinatus' Wife
...........During an appearance on ABCs Sunday program This Week, Boehner was asked what will happen if Obama maintains his position not to negotiate over raising the debt limit.
If he [Obama] continues to refuse to negotiate, the country is going to default? a stunned George Stephanopoulos asked Boehner.
Thats the path we are on, he replied.
Im willing to sit down with the president, but his refusal to negotiate is putting our country at risk, he added, reiterating it multiple times throughout the interview.......
(Excerpt) Read more at theblaze.com ...
Boehner rented a spine?
Those promoting this theory have gotten very specific about how the president will pull this off. (Epps has even taken the time to prewrite the speech Obama could give.) The president would just direct the Treasury Department to keep selling bonds. Obama would explain that the Republicans have left him no choice. The Constitution requires him to see that the laws are faithfully executed, but if he executes the debt ceiling law, he will be failing to execute the scores of laws that Congress has passed and that create the need for new borrowing. Put in this position, Henry Aaron argued this week, the president should follow the least bad option and break the ceiling.
One possible impediment to this plan would be that the White House legal counsel has said the president doesn't have this authority under the Constitution. Sure, but the president can just get another opinion or claim the situation demanded it. He's done that kind of back bend on matters of national security. He granted a waiver to businesses for the Affordable Care Act. A president can always find a workaround.
But the White House says finding a narrow legal rationale for this break-glass emergency measure would do no good because it would offer no certainty to financial marketsand staving off global economic chaos is what this whole exercise is about. "We'd break the glass, but it would only keep the house on fire," says a senior White House aide. The gambit would be up for dispute in the courts and invite chaos in Congress. While the president may be willing to take a political hit for doing something edgy to save the economy, his treasury secretary and economic advisers worry most about the disruption the ensuing legal fights would cause. At the very least........."
I don’t care if he stole it, as long as he keeps using it.
Why does everybody keep using the word “default”?
The Dems use it to scare people and the GOP seems to believe the majority of Americans are too stupid to understand basic math.
Rand Paul explained it perfectly last week:
The US takes in approximately $270B per month in various types of revenue. The interest on bonds and to creditors which MUST be paid first per the Consitution before any other debts, totals about $30B. That leaves $240B left to fund entitlements, enough to fund Social Security/Medicare in it’s entirety, Veteran’s benefits, and most, if not all, unemployment compensation. Then from there, it’s a priority game in determining how to spend the remaining few billion.
But the bottom line is that if the debt ceiling is not raised, the US can and will continue to pay it’s MANDATORY debts. Failing to pay an “entitlement” program is NOT a “default”.
Obama WANTS to threaten ‘default’ and would be willing to do so in order to raise the debt ceiling by himself and declare he is saving the nation by doing so.
He's doing what we've been griping about, time to THANK him.
I believe this will help him know the path he is taking is backed up by We The People.
I read a quote once, can't remember who to attribute it to:
” The smartest man I know is my Taylor, for he takes measure of me every time he sees me”
You don't hit a puppy with a newspaper when he Ain't peeing on the floor!
“Wouldn’t it be better to save the nation from default by invoking the Fourteenth Amendment, than to stand by and do nothing?”
Reid took the 14th off the table a long while ago....Pelosi said the other day she wants him to bring it back and it never should have been taken off...so they are already considering this.
Yes. We pay our creditors first. That is my understanding.
And money is flowing into D.C. from us.
But when was a “crisis” never not exploited by the Left?
They ought to deliver a throne to the White House with a note from Boehner to His Majesty. Start figuring out pr.
"If he [Obama] continues to refuse to negotiate, the country is going to default?" a stunned George Stephanopoulos asked Boehner. "Thats the path we are on," he replied. "I'm willing to sit down with the president, but his refusal to negotiate is putting our country at risk," he added, reiterating it multiple times throughout the interview.
Lets start that conversation by acknowledging we arent going to deport 12 million illegal immigrants... bringing these workers out of the shadows and into being taxpaying members of society. Imagine 12 million people who are already here coming out of the shadows to become new taxpayers.12 million more people assimilating into society. 12 million more people being productive contributors. [but hes not in favor of amnesty, snicker, definition of is is]
...by softening its edge on some volatile social issues and altering its image as the party always seemingly "eager to go to war... We do need to expand the party and grow the party and that does mean that we don't always all agree on every issue" ... the party needs to become more welcoming to individuals who disagree with basic Republican doctrine on emotional social issues such as gay marriage... "We're going to have to be a little hands off on some of these issues ... and get people into the party," Paul said.
Why was Georgey stunned? Does he think the Repubs will actually hold and not fold?
Another way of looking at what is going on here is that Obama and the Ruling Class in D.C. have maxed-out our credit card and Obama is threatening to not pay the bill unless his credit limit is raised.
So he will threaten that he will not pay the bill, and then he will announce that he will raise his own credit limit as he sees fit, so he can continue to charge on it.
Or he will threaten that we will not pay our bills if our credit limit is not raised and the country will suffer for lack of a limitless charge card and thus women, children and minorities will starve to death because of evil Conservatives who won’t let him raise our credit limit.
> Obama and the Ruling Class in D.C. have maxed-out our credit card and Obama is threatening to not pay the bill unless his credit limit is raised.
VERY well put.
I think the GOP is winning the shutdown battle, as each day this goes on and people realize the sky hasn’t falling, how stupid the liberals look. And now that bills have passed to allow furloughed workers to essentially get paid during the entire shutdown for doing nothing, that’s going to remove the biggest noticeable effect, and put more pressure on the libs to fund those “piecemail” bills the GOP has tried to passed in Congress. The cat is out of the bag that a shutdown is not the end of the world.
The same could be said about the debt ceiling. If we don’t raise it, but people realize the mandatory debt is being paid as well as the largest entitlement programs affecting the most Americans, there will be another realization that the “sky isn’t falling”, and the libs won’t be able to use this issue either for the forseeable future. This is why I think they trying to push Obama to commit an impeachable offense, because if Americans learn the debt ceiling doesn’t have to be raised to pay the debt, they won’t have this as an issue in the future to scare Americans.
I’m still not sure Boehner has the cajones to see this through the end. Sorry to say, the GOP has a history from snatching defeat from the jaws of victory.
Obama and his minions are bound and determine to ruin America. Period.
Fact is, if the speaker can hold this line(obamacare or debt limit increase -pick one), watch how fast the dems capitulate.
Boehner stands erect!