US Government is Closed!

[PoliticalNick]

So it seems that the GOP congressmen are now in violation of the 14th amendment. If this is true they should all be impeached and removed from the house.

Why the 14th Amendment matters in the debt-ceiling crisis

The Constitution forbids using the threat of national default the way some in Congress are now using it. There should be bipartisan rejection of this abuse.

FORTUNE -- As we enter the final countdown in our third debt-ceiling crisis in two-and-a-half years, most of us have heard at least some discussion of Section 4 of the 14th Amendment, which dictates that the "validity of the public debt of the United States ... shall not be questioned." Unfortunately -- and misleadingly -- these mentions have often occurred in the same breath as the notion of minting two $1 trillion platinum coins as a way of magically and comically circumventing the impasse. This has led many to assume that the 14th Amendment's relevance to the crisis is as hypothetical and far-fetched as the wacky coin proposal, amounting to no more than some sort of "silver-bullet" pipe-dream or a liberal academic's Hail Mary pass. That is wrong. It is true that the majority view, both in legal academia and among President Obama's legal advisors, seems to be that the 14th Amendment provides no easy out for the President as he faces this crisis. It does not, in their estimation, authorize him simply to declare the debt-ceiling a nullity and order the Treasury Department to issue new debt without prior authorization from Congress.

- See more at: Why the 14th Amendment matters in the debt-ceiling crisis - The Term Sheet: Fortune's deals blogTerm Sheet

Now as I understand it the constitution grants congress the power to issue currency. This being the case they could theoretically just print $17 trillion and use it to pay off the debt. The downfall of this is flooding the currency will devalue it and cause hyper-inflation. Their better plan is to issue about $1 trillion a year and use it to pay for infrastructure projects and internal programs, this gives the currency a true value, and then an equivalent amount of taxes collected can go towards paying off the debt. The big sticking point of this plan would be the Fed. Under the Federal Reserve Act they have usurped control of the currency and any attempt to repeal the act would be met with extreme measures from the bankers like artificially high interest, calling in of all loans, a forced depression and, as has been done in the past, assassination.

 

[tober]

"As we enter the final countdown in our third debt-ceiling crisis in two-and-a-half years...."

Yuck yuck - and it must all be Obama's fault? It is painfully evident that US r/w's will destroy the US rather than have a black POTUS. This is typical of the fascist state.

 

[captain morgan]

Now as I understand it the constitution grants congress the power to issue currency. This being the case they could theoretically just print $17 trillion and use it to pay off the debt. The downfall of this is flooding the currency will devalue it and cause hyper-inflation. Their better plan is to issue about $1 trillion a year and use it to pay for infrastructure projects and internal programs, this gives the currency a true value, and then an equivalent amount of taxes collected can go towards paying off the debt. The big sticking point of this plan would be the Fed. Under the Federal Reserve Act they have usurped control of the currency and any attempt to repeal the act would be met with extreme measures from the bankers like artificially high interest, calling in of all loans, a forced depression and, as has been done in the past, assassination.

The physical currency is basically an individual promissory note (debt).

The big risk that they have in using the strategy you mention is that as they drive down the value of their currency, other foreign entities can now swoop-in and buy US assets at this devalued level

 

[pgs]

"As we enter the final countdown in our third debt-ceiling crisis in two-and-a-half years...."

Yuck yuck - and it must all be Obama's fault? It is painfully evident that US r/w's will destroy the US rather than have a black POTUS. This is typical of the fascist state.

What is the politically correct term for 1/2 black 1/2 white by the way? which 1/2 is more important ?
And what does ones race or creed have to do with any thing anyways I was of the understanding that issue was behind us
since King's I Have A Dream speech and the first 50/50 was elected to the white house.
I believe you are fixated on a dead horse.

 

[PoliticalNick]

The physical currency is basically an individual promissory note (debt).

The big risk that they have in using the strategy you mention is that as they drive down the value of their currency, other foreign entities can now swoop-in and buy US assets at this devalued level

Maybe you didn't read the entire post.

If they just issue $17 trillion and pay off the debt then the result would be a substantially devalued dollar and hyper-inflation.

The way to avoid a massive devaluation is to issue $1 trillion or even 1/2 a trillion every year and use it to pay for infrastructure projects. This trickles the currency into the economy with a strong value. They can then use that amount at the end of the year from the taxes collected to pay onto the debt hence avoiding massive devaluation.

At present if they could avoid borrowing any more money (impossible because they create money through bonds which have interest (debt) attached) and somehow develop a budget that enabled them to pay $50 billion/yr onto the debt principal it would take 350 years to pay it off. By using my suggestion they pay it off in 17-35 years or so and avoid tanking their economy by funding capital projects with the new cash to get it into the economy.

In the end the impossible cycle of issuing bonds to create money is a death-spiral. They create $1 million in the economy but owe $1.15 million. They can never get out of debt. They need to abolish the Fed and stop the bond based currency ponzi scheme. So do we!

What is the politically correct term for 1/2 black 1/2 white by the way? which 1/2 is more important ?
And what does ones race or creed have to do with any thing anyways I was of the understanding that issue was behind us
since King's I Have A Dream speech and the first 50/50 was elected to the white house.
I believe you are fixated on a dead horse.

If you think and believe racism is dead in this world you are sadly mistaken. It is prevalent in western societies all over. Maybe not as overtly as 50 years ago but it is still there.

 

[Goober]

What is the politically correct term for 1/2 black 1/2 white by the way? which 1/2 is more important ?
And what does ones race or creed have to do with any thing anyways I was of the understanding that issue was behind us
since King's I Have A Dream speech and the first 50/50 was elected to the white house.
I believe you are fixated on a dead horse.

Like this?

 

[tober]

.... And what does ones race or creed have to do with any thing anyways I was of the understanding that issue was behind us since King's I Have A Dream speech and the first 50/50 was elected to the white house. I believe you are fixated on a dead horse.

Hardly. Racism in America didn't end the day MLK made his speech. Not even close. Tea partiers can often be heard and read referring to Obama as a n!gger. Just last month the Internet was alive with amazement that a cop in Alabama was fired for calling some negroes "gigaboos" when he was in public, on duty and in uniform. The KKK is still strong. America is every bit as racist as places like Asia and the Gulf.

 

[Goober]

Hardly. Racism in America didn't end the day MLK made his speech. Not even close. Tea partiers can often be heard and read referring to Obama as a n!gger. Just last month the Internet was alive with amazement that a cop in Alabama was fired for calling some negroes "gigaboos" when he was in public, on duty and in uniform. The KKK is still strong. America is every bit as racist as places like Asia and the Gulf.

Do you have a link for that?

Or is it just opinion?

 

[L Gilbert]

"US Government is Closed!"

Oh, well.

HEY! The planet is still rotating and bopping around the sun ...... go figger!

 

[tober]

Do you have a link for that?

Or is it just opinion?

Are you seriously challenging the position that there is racism in America?

 

[Goober]

Are you seriously challenging the position that there is racism in America?

Not what you stated, not what I asked.
Perhaps asking that US teacher for assistance may help.

 

[tober]

Not what you stated, not what I asked.
Perhaps asking that US teacher for assistance may help.

Oh dear. Goober is offended.

 

[Goober]

Oh dear. Goober is offended.

Nope- Why would I be offended?

 

[tober]

Nope- Why would I be offended?

I don't know. Why did you suggest I ask a US teacher for help? Why does the world see so much anger emanating from America, the world's wealthiest and most powerful nation? Insecure and overly sensitive? Beats me.

 

[hunboldt]

What is the politically correct term for 1/2 black 1/2 white by the way? which 1/2 is more important ?
And what does ones race or creed have to do with any thing anyways I was of the understanding that issue was behind us
since King's I Have A Dream speech and the first 50/50 was elected to the white house.
I believe you are fixated on a dead horse.

Mulato Nero
Octaroon
Café au Lait
High Yellah

Crackerland Metis
Southern Bungi

Let me know if you want me to keep going....

 

[Goober]

I tend to agree with the Republicans on this.
Obama is not willing to make cuts, Nada, none.

What Obama is asking for is total surrender and the GOP refuses: Boehner | National Post

House Speaker John Boehner says President Barack Obama is demanding the GOP surrender the budget and debt limit fight unconditionally, but Republicans won’t do it.

The Ohio Republican was responding to Obama’s statement earlier saying he would discuss anything Republicans want, including proposed changes to “Obamacare,” but not under the threat of “economic chaos.” He urged Boehner to hold a vote immediately to reopen the government and to allow the country to borrow more money. Boehner is insisting instead that the two sides start negotiating now on the terms of any budget or debt agreement, saying attaching other measures is a long-held practice.

They spoke with the government’s partial shutdown in its eighth day. An even bigger financial crisis looms next week when the government reaches its borrowing limit.

The White House confirmed the call and said Obama repeated to Boehner “what he told him when they met at the White House last week: the president is willing to negotiate with Republicans — after the threat of government shutdown and default have been removed — over policies that Republicans think would strengthen the country.”

“I want to have a conversation. I’m not drawing lines in the sand. It is time for us to just sit down and resolve our differences,” said Boehner, R-Ohio.

 

[Sons of Liberty]

Hardly. Racism in America didn't end the day MLK made his speech. Not even close. Tea partiers can often be heard and read referring to Obama as a n!gger. Just last month the Internet was alive with amazement that a cop in Alabama was fired for calling some negroes "gigaboos" when he was in public, on duty and in uniform. The KKK is still strong. America is every bit as racist as places like Asia and the Gulf.

Don't forget the Canadian ******s; First Nations.

 

[karrie]

The US is worse than PMS

 

[SLM]

The US is worse than PMS

Pffft!!! Amateurs!

Shall we show 'em how it's really done?

LOL

 

[captain morgan]

No.... Please... Don't...

I promise that it won't happen again... Ever.

I'll start practicing right now:

Yes dear.
Yes dear.
Yes dear.
Yes dear.
Yes dear.
Yes dear.
Yes dear.
Yes dear.
Yes dear.
Yes dear.