Skip to comments.The Debt Ceiling is the Law of the Land
Posted on 10/07/2013 6:07:28 PM PDT by cotton1706
Over the past few weeks, Democrats have indicated that they have no intention of negotiating over Obamacare, opting instead to shut down the government. They are justifying their obstinacy by asserting that Obamacare is the law of the land. Well, if that is the game they want to play, we should return the favor with the debt ceiling. The debt ceiling, pursuant to the Second Liberty Bond Act of 1917, is the law of the land. And it has been so for far longer than Obamacare.
Throughout this debate over funding Obamacare in the budget bill, House GOP leaders have stressed how the debt ceiling was the more appropriate means of fighting Obamacare. After all, it was the next fight. But as if on cue, some Republicans are already using the same Democrat talking points about the risk of default.
We are going to hear this erroneous talking point propagated by both parties over the next few weeks, so lets put the myth to rest. The only way we default on the debt is if we fail to pay the interest on the public debt. According to the updated budget projection from the CBO, interest on the debt will be roughly $237 billion for 2014. Thanks to the short-term revenue benefits of the fiscal cliff and Obamacare tax hikes, the federal government is expected to rake in a record $3.042 trillion from the private economy this year.
Lets engage in a simple math exercise. $3.042 trillion $237 billion = $2.805 trillion. As long as the Treasury pays the first $237 billion in revenue to the shareholders of our debt, there will be no default, and we will have $2.805 trillion left to spend. Again, default is taken off the table. Discussion over.
What do you do with the remaining funds? You start funding core functions of government and those programs that people are already dependent on.
Social Security (retirement and disability) $848 billion
Medicare $505 billion
Medicaid $298 billion
Defense $582 billion
Veterans $83 billion
Those expenditures account for roughly $2.3 trillion. The remaining half trillion can be prioritized as needed for other functions related to homeland security, national parks, or any other limited function. Hence, the debt ceiling is a built-in balanced budget mechanism. If Democrats want to fund other functions of government, they need to commit to a balanced budget. If they want to fund the HHS and the IRS, they need to get rid of Obamacare. If they want to fund the EPA, they need to get rid of the war on coal.
The power of the purse manifest in the House of Representatives, in conjunction with the debt ceiling law, reflects democracy at work, especially with divided government. Its time we stop peddling the myth of default, and start using our leverage to restore constitutional government and bring relief to those who are losing jobs and suffering from the high cost of living engendered by the harmful activities of the unconstitutional aspects of government.
Clearly the national parks need to devolve to the states to manage them. NPS cannot keep a sidewalk open.
They can’t at least not yet. But the could get judgements in world courts and seize overseas assets.
Also, Immigration control is the law of the land.
Prohibition of spending unappropriated monies is the law of the land.
Tax privacy is the law of the land.
Free practice of religion is the law of the land.
Prohibition of voter fraud is the law of the land.
Obama ignores them all, and the Republicans just sit back and do nothing.
That’s why the current balloons floating around are ‘the 14th amendments’. When “It’s the law of the land” starts to become the focus point on the debt ceiling Obama point out the 14th amendment is the Constitution and trumps the law of the land.
There is no Debt Ceiling. The debt has already gone thru the roof. The FED and the ECB are running the printing machines faster then ever. The global debt problem is a bomb shell waiting to explode. And there are plenty of these bombs hidden in many countries and if one goes up like in greece or cyprus they’ll heat up the other ones left. Our generation will see the fall of the Fiat money for sure.
This has happend in the past and it’s likely to happen again. I’ts written in the Bible, the Tenakh and the Quran.
“If thou lend money to any of my people that is poor by thee, thou shalt not be to him as an usurer, neither shalt thou lay upon him usury”
“But as if on cue, some Republicans are already using the same Democrat talking points about the risk of default.”
This is one of the major weaknesses of Republican legislators and pundits. They adopt Demspeak in every situation where there is disagreement. Thus, half of the battle is conceded before it is argued.
"The United States shall guarantee to every State in this Union a Republican Form of Government, and shall protect each of them against Invasion; and on Application of the Legislature, or of the Executive (when the Legislature cannot be convened), against domestic Violence."
Hear, hear, these words of wisdom.
If ALgore AKA Manbearpig AKA 2ndChakraManatee were here, he’d say , “It’s settled science”.
Even Boehner on Sunday used the word default.
These “talking points” need to be posted/eamiled to EVERY Republican and conservative Deamoncrat.
there are no conservative Democrats
Unfortunately, the Republican elite will treat it as the law of the land. If the Republicans leading the charge don’t get Obamacare defunded before Oct 17, the GOP-elite are not gonna have anywhere near the fortitude they need to stick it out past the debt ceiling deadline.
DOMA is the Law of the Land.
Are there any accurate articles that explain what will realistically what will happen if we miss the debt ceiling and end up going into “default” so to speak? Most sources I have tried to find are naturally flooded with hardleftist, pure chicken little hysteria. Is there any place where we can find truly accurate, unbiased, undistorted info in it? Has someone who is not hopelessly biased towards Obama written about it?
Perhaps I am a bit old-fashioned, but where I come from a “ceiling” that reaches all the way to the sky is not a “ceiling”; it’s just the sky.
I might take the term “ceiling” seriously if they refrained from raising it at least once. That doesn’t seem likely to happen.
Thanks for posting this article
My question is: Is Obama’s love for spending BIGGER than his hatred for America?
I guess we shall find out