Pages

5 comments

Jump to bottom
1 John Vreeland  Fri, Jan 11, 2013 3:45:41pm

My reading of the relevant law in this case is that it would have to be a bullion coin, meaning that the vast majority of its value would have to be intrinsic to the metal of its construction. Or maybe they could make a it a commemorative coin instead, to commemorate the record high deficit.

2 stabby  Fri, Jan 11, 2013 6:01:42pm

re: #1 John Vreeland

If you’re right then the law can’t be used.

That is what Fox will claim in any case, because otherwise the tea party* nuts don’t have the power to end medicare, social security, the EPA, etc.

*Tea Party: The Fox News Micky Mouse Club

They originally thought they could do that by taking the house since the house is the source for spending authorization - but the Obama administration responded by not making budget and simply continuing to use the previous, sane, house’s spending authorization.

Now they’re hoping to use their power to stop paying our debts to send us back to 1900.

They probably wish that the debt ceiling stopped new borrowing instead of stopping PAYING our debts, but they’ll take what they can get.

Note that if we default and the interest rates on our debt goes up, then our economy will be ruined for the rest of our lives, the world economy will crash and the US will lose its place as an important economic power. The Chinese press already can’t resist telling its billion readers that the US no longer has a viable government.

3 stabby  Fri, Jan 11, 2013 6:02:49pm

In short they’re not being stupid, they’re being manipulative.

4 EPR-radar  Fri, Jan 11, 2013 6:36:33pm

Oddly enough, the simplest approach I can think of is the one I have not seen mentioned at all.

Congress has set tax rates and made appropriations that are inconsistent with the debt ceiling. If Congress is stupid enough to pass inconsistent laws, the Executive gets to choose how to “faithfully execute the laws”.

So, I’d like to see the administration treat the debt ceiling as a nothing-burger. No coin trick. No reference to the constitution. Just blow it off.

5 lostlakehiker  Fri, Jan 11, 2013 10:30:22pm

re: #4 EPR-radar

Oddly enough, the simplest approach I can think of is the one I have not seen mentioned at all.

Congress has set tax rates and made appropriations that are inconsistent with the debt ceiling. If Congress is stupid enough to pass inconsistent laws, the Executive gets to choose how to “faithfully execute the laws”.

So, I’d like to see the administration treat the debt ceiling as a nothing-burger. No coin trick. No reference to the constitution. Just blow it off.

Actually, there is no inconsistency. There is no statutory obligation to pay social security or medicare benefits at the current rate. Many other spending programs are likewise not debts of the government.

The legal course of action, if the debt ceiling were to be reached, would be to cut spending on all these optionals, while servicing the debt to the letter and to the penny. The president, who is sworn to uphold and defend etc. and to take care that the laws be faithfully executed, would then have the duty to take care that the laws, as written, be faithfully executed. The constitution itself positively insists that the debts be payed without question or delay. It does not insist that other spending programs go on as if cash had not run out.

Now whether draconian cuts to all other spending are a good idea? That’s another question entirely. They are not. They’re a very bad idea.

The markets would crash. The economy would follow. Our defense system would lose essential people, who cannot forever work without pay. Valuable infrastructure would go untended; penny wise and pound foolish “savings” would have to be found. It would be grossly irresponsible to force the government into such a fix.

But the fault for the cuts would lie with the people who voted to not raise the debt ceiling, and not with the president. His hands would be clean.

No coining of trillion dollar baubles would wash. That would make a laughingstock of our currency and our leadership.

If the president were to decide that the constitution is a mere scrap of paper, that would have incalculable consequences for the nation; that, too, would be a very bad idea. But the fault, in that case, would rest with him. How could he do that? How, after taking Lincoln for a model? Lincoln, who refrained from wartime measures that he could not find real justification for in the constitution? Who limited his emancipation proclamation to states still in rebellion, despite his private views that slavery was an evil across the board? Who allowed a pro-surrender candidate to campaign for the presidency, knowing the nation would be lost if that candidate won? Lincoln understood that winning ugly would destroy, in the long run, what he was trying to save with the war.


This page has been archived.
Comments are closed.

^ back to top ^

TwitterFacebook

Turn off all ads for a full year by subscribing!
For about 33 cents a day (per month) or 22 cents a day (per year), our subscription option turns off all advertisements at LGF!
Read more...

► LGF Headlines

  • Loading...

► Tweeted Articles

  • Loading...

► Tweeted Pages

  • Loading...

► Top 10 Comments

  • Loading...

► Bottom Comments

  • Loading...

► Recent Comments

  • Loading...

► Tools/Info

► Tag Cloud

► Contact

You must have Javascript enabled to use the contact form.
Your email:

Subject:

Message:


Messages may be published unless you request otherwise.
Tech Note:
Using the Contact Form
LGF Pages

This button leads to the main index of LGF Pages, our user-submitted articles. You can post your own LGF Pages simply by registering a free account with us.

Create a Page

This is the LGF Pages posting bookmarklet. To use it, drag this button to your browser's bookmark bar, and title it 'LGF Pages' (or whatever you like). Then browse to a site you want to post, select some text on the page to use for a quote, click the bookmarklet, and the Pages posting window will appear with the title, text, and any embedded video or audio files already filled in, ready to go.

Or... you can just click this button to open the Pages posting window right away.

Last updated: 2014-03-07 2:19 pm PST

LGF User's Guide
Recent Pages
Randall Gross
American Front Leader Convicted on Paramilitary Training Charges
Marcus Faella, one of more than a dozen people arrested last year on charges they were conducting paramilitary training with a group called the American Front, was convicted last week. Faella, 41, was originally charged with conspiring to shoot ...

18 minutes ago
Views: 39 • Comments: 0
Tweets: 0 • Rating: 0
FemNaziBitch
6 Innovative Ways We’re Reinventing Birth Control
Birth control pills and traditional latex condoms have been among the most popular and effective methods of contraception for decades. But innovators think it's time for an upgrade -- not only to increase protection, but also to establish safe ...

9 hours, 54 minutes ago
Views: 84 • Comments: 0
Tweets: 0 • Rating: 0
Lumberhead
Angry Letters to the One Member of Congress Who Voted Against the War on Terror - the Atlantic
My first attempt at a page - so here we go: The article is a little long but well worth while. I found it to be nicely balanced with interesting excerpts from supporters as well as detractors. Barbara Lee was ...

13 hours, 38 minutes ago
Views: 187 • Comments: 2
Tweets: 1 • Rating: 3
The War TARDIS
Doctor Who “Listen” Open Thread
I'm back. Last week, I couldn't do this thread, as something more important was going on. One of my best friends, a sweet, and very devout Christian, is going to the UK to help a Christian Group in Oxford, and ...

2 days, 12 hours ago
Views: 226 • Comments: 41
Tweets: 0 • Rating: 2
Rightwingconspirator
Are Higher Frame Rates Really a Better Moving Image in Cinema?
As a guy who scratches the surface of this medium with humble indy efforts and some industrial video experience I have to watch carefully. If I commit to the wrong camera or format, it can hurt financially. Once I had ...

3 days, 14 hours ago
Views: 415 • Comments: 6
Tweets: 25 • Rating: 6
Slap
For guitar fans…
I suppose one needs to be a guitar freak of a certain age to recognize both of these guys. Gabrels' work might be familiar to fans of Bowie/Tin Machine. Nelson's work? I believe him to be one of the most ...

3 days, 17 hours ago
Views: 256 • Comments: 2
Tweets: 0 • Rating: 1
GlutenFreeJesus
Check your gmail accounts!
Here's the link to the tool. One of mine was on that list, so I changed the password. Good luck! isleaked.com

5 days, 9 hours ago
Views: 474 • Comments: 2
Tweets: 0 • Rating: 7
I Stand With Big Sodomy!
French speaking tourists wanted for luring, kicking squirrel into Grand Canyon
Needless to say the little guy didn't make it. The tourists are described as two French-speaking men, wearing only cowboy hats and boxer shorts. Story

5 days, 14 hours ago
Views: 597 • Comments: 6
Tweets: 1 • Rating: 6
CriticalDragon1177
Ars Technica - Tasmanian depths may have been hiding unknown animal phylum
As John Timmer at Ars Technica points out, we may have found not only a new species, but a brand new type of animal! This is big news for the science of biology, and zoology in particular! Over the past ...

6 days, 12 hours ago
Views: 420 • Comments: 2
Tweets: 3 • Rating: 0
danarchy
Mysterious Phony Cell Towers Could Be Intercepting Your Calls
Weird stuff. Interceptors vary widely in expense and sophistication - but in a nutshell, they are radio-equipped computers with software that can use arcane cellular network protocols and defeat the onboard encryption. Whether your phone uses Android or iOS, it ...

6 days, 13 hours ago
Views: 330 • Comments: 0
Tweets: 0 • Rating: 3
 Frank says:

Weedley-Weedley-Wee -- Specifically, the small fret guitar-playing technique that musicians have a tendency to display while in pursuit of a cross between a waitress and a hoover vacuum... This, of course, from his book.