Posted on 10/15/2013 5:30:04 AM PDT by BulletBobCo
The troops will get paid on Tuesday, but the check after that could come in the form of an IOU if the nation defaults on its debt obligations, Treasury Department officials said.
Default on top of the government shutdown would cancel out the hastily-crafted legislation that brought back furloughed Defense Department civilian employees and allowed for the payment of back pay, death benefits, incentive pays, re-enlistment bonuses, veterans disability benefits and survivor benefits.
All would be eliminated if Congress and the White House fail to reach agreement on raising the debt ceiling to avoid default on Oct. 17, Treasury Secretary Jack Lew said last week.
"The United States should not be put in a position of making such perilous choices for our economy and our citizens," Lew said in testimony to the Senate Finance Committee.
A military coalition of 33 veterans' service organizations representing 5.5 million members planned to hold a rally Tuesday at the National World War II Memorial to protest the looming threat of payless paydays for the troops and cutoffs of disability and survivor benefits.
"It's all because of failed elected leadership in Washington who would rather tell you who's to blame than fix the problem," William A. Thien, national commander of the Veterans of Foreign Wars, said in a statement.
Working against the Oct. 17 deadline, Senate Republicans and Democrats were reportedly close to a deal on lifting the debt ceiling and ending the government shutdown. However, there was no guarantee the compromise would be accepted by the House.
Defense budget analysts said that the immediate problems of default and the shutdown masked the long-term challenges of getting a budget for the military passed by Congress that will include planning for the spending cuts imposed by the sequestration process.
(Excerpt) Read more at military.com ...
Oops, I meant to say “over a trillion dollars”
Check out the comments. Most are believing it. Freep the comments?
” and tell the troops to take out the House “
Why do you pretend such nonsense?
He lacks the courage to act so precipitacley, knowing the “pitchforks” would come out.
He prefers the incremental, executive action approach, which only has folks yelling at their TV, but not sufficiently motivated to get up off of the couch.
Leadership in many Veteran organizations is Democrat, they try to convince members (with some success actually) that the dims will do more for Veterans in the way of benefits than the stingy Republicans will. Democrats have never been a friend to the military or Veterans, but it is just like the black and female dim voting blocks- many fall for it.
I believe that is why there was flack after the fact about Palin and others attending the Veteran’s march on Sunday. I was watching and the crowd of Veterans gave a very loud cheer when Sarah Palin arrived. Later it was said that she was not wanted there by the Veterans? Maybe some of the so called leadership- but the Vets themselves obviously were happy to see her and others there supporting them. BS, it is all BS so deep we need hip waders.
Just watched Navy Seal Ben Smith on with Bill Hemmer. I wanted to cry. Looking at his good and honest face made me sad and angry at this evil and corrupt Obama and they way they are treating good Americans.
People have about had it with the Obama and democrats AKA communists, running roughshod over decent people and looting them.
Horse Shiite.
We take in plenty of money to pay every bill and personnel....and...and...and!!! Even continue paying outside contractors to show up en masse and force, to look big, mean and scary while closing our national monuments and parks.
It's not in his hands. By law non-discretionary spending has to be paid. Defense is considered discretionary spending. For Defense to be funded before Social Security checks, Congress would have to pass legislation to do it.
We saw the chaotic results of an EBT “crisis” this past weekend in rural Lousianna. Picture that same scenario in major cities throughout the US. The urban folks have the government by the short hairs and they know it.
technically we could be. since we are not spending on everything, but I don’t know.
Can you imagine in the Pre-Rush and Pre-Conservative talk show days how this would be playing in America? THE ONLY thing we would be hearing is how Evil Republicans are destroying the country.
THE MANTRA NEEDS TO BE “THERE IS NO DEFAULT UNLESS OBAMA DOES IT ON PURPOSE”~!~
Rush is right that the liberals are all marching in lockstep with their talking points. A lesson we have yet to learn.
If Lew, should even try to do this, he should be dragged out of office and DC after being tarred and feathered.
Lew, you vile POS, stop the paychecks for members of congress, the faux president and VP, Obozo’s cabinet and his horde of Chicago thugs in the outhouse.
There is no need to punish our military.
Below is the reality of failing to raise the Debt Limit.
The reality of a real debt limit:
http://www.freerepublic.com/focus/news/3076090/posts?page=1
The Debt Ceiling is the Law of the Land
redstate.com ^ | 10/6/13 | Daniel Horowitz
Posted on Monday, October 07, 2013 6:07:28 PM 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 let’s 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.
Let’s 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. It’s 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.
I am sure you heard about the EBT fiasco at a Walmart store in Louisiana, where the EBT users emptied all the shelves out because the system was down or something like that. One woman had only 48cents on the card but spend (stole) over $700 of merchandise. You can bet she voted for that arrogant pos occupant of 1600 Pennsylvania Ave
So, do the staffers and members of congress get a check haircut too?
Big question is... is Congress and staff getting a check? How will the hookers survive?
- “CORRUPT BASTARDS” - Sarah Palin
My point is more so this
If the bills for the taxpayer are 100B, and the taxes paid by the citizens are 90B, there is a 10B shortfall, which from my understanding cannot be filled by borrowing since the debt limit would be reached.
Therefore the tax payer would be unable to fulfill his obligations, correct?
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President Andrew Jackson was nearly shot dead in the streets by would-be assassins after making clear how much he despised central banking power. President Kennedy didn't like the idea of an almighty Federal Reserve Bank, either.
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