Thread: Obama Could Order Treasury to Ignore Debt Limit

Originally Posted by jviehe

So there you go, Dems are trying to find a way to simply ignore the law and congress, stretching the clear meaning of the constitution. All of a sudden they love the constitution!

Our federal Congress is already delegated the general power to pay the debts of the United States and to ensure a republican form of government to each of the several States.

Originally Posted by jviehe

So there you go, Dems are trying to find a way to simply ignore the law and congress, stretching the clear meaning of the constitution. All of a sudden they love the constitution!

There's nothing left in the treasury.

US treasury.jpg

Why not end our exorbitantly expensive and wasteful, War on Drugs? Why do alleged conservatives advocate for more nationalized and socialized public sector intervention in private sector markets; while not calling it Socialism or Communism.

Originally Posted by George Aligator

It is possible that the Supremes would rule that bond redemption must come off the top of federal resources. In that you are quite correct. We do take in enough revenue to pay our debts, but not enough to pay our debts AND run the country. Perhaps we will stop paying the troops. That tends to crash the government. We could stop Medicaid (that's about 20% of the population) and Medicare. This would result in the closure of most of the hosptials in the country. Lawyers would be picking over the resulting suits for the rest of your life.

Much as some might like it, Social Security isn't one of the options on the choppig block as the trust fund still has billions of dollars in it. Those dollars are in the form of -- you guessed it! -- U.S. government bonds.

Of course all the above are just temporary solutions because 44 cents of every federal dollar spent is now borrowed. In order to resume functioning the government would have to resume borrowing. Interest, now about 3% would rise to perhaps 25% in the chaos. And, if we don't resume borrowing and we don't increase any taxes, well then we will have to cut more spending than the entire Pentagon budget.

The collapse of the Treasury and of entitlements will produce a real revoltuion. We will either go back to 1928 or forward to European socialism. I can't see either one of those happening, can you?

Im hoping the govt will collapse and be replaced with something smaller.

Originally Posted by danielpalos

Why not end our exorbitantly expensive and wasteful, War on Drugs? Why do alleged conservatives advocate for more nationalized and socialized public sector intervention in private sector markets; while not calling it Socialism or Communism.

We already went through that on the thread "war on drugs' that you beat yourself up on, and got nowhere. You just can't stop repeating your same old talking point. Give it up.

Originally Posted by Dick Martin

You realize that under GW, Republicans raised the debt limit 7 time. You understand the spending and debt has come about because of Republican policies, right?

This is only a problem for the US because Republicans caused record deficits and are refusing to deal with the costs _they_ incurred.

Now, the grown-ups are trying to figure out a way to save the day.

And Republicans are sitting there sniffling and pointing fingers, like 5th graders in the principal's office.

That's bullshit and you know it's bullshit.

Either that, or I've been way overestimating you.

Originally Posted by smurf

That's bullshit and you know it's bullshit.

Either that, or I've been way overestimating you.

Which part do you think he is wrong on? If you think it is about the debt limit part, you are very wrong. (Hint, the debt ceiling did go up with a fair amount of frequency in the time Bush was in office with a Republican House and Senate. 6 or 7 times, with a few more times when Bush was in still in office with a Democrat House and Senate.)

Originally Posted by Sluggo

Which part do you think he is wrong on? If you think it is about the debt limit part, you are very wrong. (Hint, the debt ceiling did go up with a fair amount of frequency in the time Bush was in office with a Republican House and Senate. 6 or 7 times, with a few more times when Bush was in still in office with a Democrat House and Senate.)

Originally Posted by Dick Martin

You realize that under GW, Republicans raised the debt limit 7 time. You understand the spending and debt has come about because of Republican policies, right?

This is only a problem for the US because Republicans caused record deficits and are refusing to deal with the costs _they_ incurred.

Now, the grown-ups are trying to figure out a way to save the day.

And Republicans are sitting there sniffling and pointing fingers, like 5th graders in the principal's office.

He is wrong on the bolded parts.

Originally Posted by Forplay

We already went through that on the thread "war on drugs' that you beat yourself up on, and got nowhere. You just can't stop repeating your same old talking point. Give it up.

Forplay, while I agree with you that dan is incoherent at the best of times, you didn't "win" the war on drugs thread. In fact, you refused to engage in intellectually honest debate and eventually quit the thread when it was obvious no was going to put up with you simply ignoring answers to your own questions. So try not to throw stones and break your glass house, ok buddy?

Originally Posted by smurf

He is wrong on the bolded parts.

What are the Democrat policies that caused the debt then?

The deficits came about when we had both a Republican Congress and a Republican President. How did the Democrats pass or enforce policies that caused the debt then?

Obama can order whatever he wants, but he can't force other countries to lend to us.

He can order the Mint to print, but he can't make it worth anything.

He can quit while he's ahead... if he wants to take it home with him.

Congress has already approved the debt, they passed the spending, and they set the tax rates.
If this doesn't get resolved, Obama should hold all social security, military paychecks, and tell people, that they will get their money as soon as the Republicans remove the tax break for corporate jets....

Originally Posted by goober

Congress has already approved the debt, they passed the spending, and they set the tax rates.
If this doesn't get resolved, Obama should hold all social security, military paychecks, and tell people, that they will get their money as soon as the Republicans remove the tax break for corporate jets....

More brilliance from the left... must be a bad joke...

Then again to be fair Republicans are also living in a dream world, but it is rather ridiculous to even hint that the above is a good idea.