Posted on 06/30/2011 1:35:04 PM PDT by NoLibZone
Amid fears the United States risks default if lawmakers don't raise the debt ceiling on time, some are suggesting President Obama could save the day by big-footing Congress.
How? By invoking the Constitution and directing Treasury Secretary Tim Geithner to keep borrowing even if it means going past the statutory borrowing limit.
Really? They say default -- and by extension, the debt limit -- violates the 14th Amendment.
The amendment states: "The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned."
(Excerpt) Read more at money.cnn.com ...
No budget and no debt limit.
What could possbly go wr0ng?..........
Then why bother to service the debt at all either? The logic of these people is incredible. Contort any phrase, nuance any suggestion so long as it begs for mercy and yields to their mantra.
If it is unconstitutional... why has it remained unchalleneged since it was voted into law in 1917?
LLS
Now that makes me feel better - I guess we should thank them that they are so compassionate that they allow us to keep any of it!!!
.....authorized by law,
I think that's the problem, no law passed, no validity!
I’ve thought since the beginning of this administration that the Chicago Mob would do anything they damn well please!
Since when has BHO, the MSM and their ilk cared one whit about the constitution???
These people are NUTS!!!!!!!!!!!!!!!!!!!!
It is past the point of no return. We are now in orbit. The heat shield is gone and we can not re-enter the atmosphere. This is the best analogy i can come up with at the moment.
"I sincerely believe... that the principle of spending money to be paid by posterity under the name of funding is but swindling futurity on a large scale." --Thomas Jefferson to John Taylor, 1816. ME 15:23
"[With the decline of society] begins, indeed, the bellum omnium in omnia [war of all against all], which some philosophers observing to be so general in this world, have mistaken it for the natural, instead of the abusive state of man. And the fore horse of this frightful team is public debt. Taxation follows that, and in its train wretchedness and oppression." --Thomas Jefferson to Samuel Kercheval, 1816. ME 15:40
By the Founders' formula, "the People's" written Constitution was the anchor of our liberties, binding government to the "People's" limitations on its power.
The so-called "progressive" philosophy which dominates this Administration, in effect, undoes all the monumental work accomplished by the Founders on behalf of liberty and leaves the law afloat and without anchor, relying, as of old, on mere imperfect men and women.
From Page xv of "Our Ageless Constitution," allow me to include here excerpted words from President Andrew Jackson's Proclamation of December 10, 1832:
"We have received it [the Constitution] as the work of the assembled wisdom of the nation. We have trusted to it as to the sheet anchor of our safety in the stormy times of conflict with a foreign or domestic foe. We have looked to it with sacred awe as the palladium of our liberties, and with all the solemnities of religion have pledged to each other our lives and fortunes here and our hopes of happiness hereafter in its defense and support. Were we mistaken, my countrymen, in attaching this importance to the Constitution . . .? No. We were not mistaken. The letter of this great instrument is free from this radical fault. . . . No, we did not err! . . . The sages . . . have given us a practical and, as they hoped, a permanent* Constitutional compact. . . . The Constitution is still the object of our reverence, the bond of our Union, our defense in danger, the source of our prosperity in peace: it shall descend, as we have received it, uncorrupted by sophistical construction, to our posterity. . . ."
*Underlining added for emphasis
And, it was Thomas Jefferson who used another metaphor with reference to the Constitution when he indicated that "the People" must "bind them (government) by the chains of the Constitution." In another instance, he declared: "It [the Constitution] was intended to lace them [government] up straitly within the enumerated powers. . . ."
More liberal lies. A debt ceiling means that the Fed Govt can’t issue more debt. It doesn’t mean default. As long as the government continues to pay interest on the debt, then it technically is not in default. With tax revenues expected to be $2.2 trillion (almost $200 billion A MONTH), interest payments amount to roughly $300 billion ($25 billion a month)—this would still leave $1.9 trillion ($175 billion a month) in revenues to pay for the government’s most important priorities like Defense, Social Security, Medicare, etc. What’s at risk is all the bloated porkulus spending which MUST me cut if we don’t want to end up like Greece.
But since the democrats haven’t submitted a budget for over 2 years, and 0zer0’s budget was voted down 97-0 in the Senate, they obviously don’t understand budgets. So it is the ultimate hypocrisy for 0zer0 and the liberals think they have the right to lecture the repubs on the debt crisis. Just keep up the demogoguery and you will feel the wrath of the voters in 2012 that will make your disaster in 2010 look like a picnic..
0bamanomics = Economics + Moronics
0zer0care = Socialized Euthansia Healthcare
0zer0energy = Kill Drill
0zer0immigration = Free AK-47 to all Mexican Drug Gang Bangers
0zer0doctrine = Humanitarian Air Strikes
Sounds like something John Yoo would be in favor of. I like him and he’s brilliant, but he’s in favor of waaaaay too much power for the executive.
Sure congress, tell you what...
Prove to me that’s a debt ceiling.
Go ahead. I’ll wait.
*drums fingers on desk*
Thank you for your reply.
Interesting, they would rather redefine the US Constitution to remove peoples rights to representation, then to redefine banking terms such as default .
The Constitution grants Congress, AND ONLY CONGRESS, the authority to borrow on the credit of the United States. Therefore, anything allegedly borrowed outside of the approval of Congress does not qualify as what the 14th Amendment refers to as “public debt of the United States, authorized by law” which “shall not be questioned.”
Key phrase: “authorized by law.” Only Congress makes law.
It’s an absurd argument. Borrowing more money doesn’t do anything to pay the creditors.
The 14th amendment instead requires Obama to pay the creditors first with whatever money he gets, and stop spending on other things.
The shields are down, phasers out, the photon torpedoes are all gone, the dilithium crystals are cracked and Borg are getting ready to board.....................”Resistance is futile.............
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