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.

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

LGF User's Guide
Recent Pages
philosophus invidius
Cliven Bundy: A Lying Liar
It has been widely reported that Cliven Bundy's family claims to have ranched in the Bunkerville area since the 1870s even though a federal judge held a different view of Bundy's history. ... Rawlinson wrote that it wasn’t until ...

51 minutes ago
Views: 30 • Comments: 0
Tweets: 0 • Rating: 0
Randall Gross
Maya Rudolph’s Variety Show: Guest List, Air Date Revealed
This has potential - it could be good, it could be bad, it could be the network hoping for this century's "Carol Burnett" show. Maya Rudolph will make her return to NBC next month with some song and sketch -- ...

4 hours, 33 minutes ago
Views: 78 • Comments: 0
Tweets: 0 • Rating: 0
FemNaziBitch
FLORIDA: Sex Trafficking Bill Clears House on Unanimous Vote
A bill aimed at responding to sex trafficking, with a laundry list of services and safety precautions to protect victims, passed the Florida House of Representatives on Tuesday with a unanimous 119-0 vote. The bill, if passed by the ...

10 hours, 8 minutes ago
Views: 86 • Comments: 1
Tweets: 0 • Rating: 1
cycroft
Russ Campbell’s Blog
Speak­ing at a town hall in Nanaimo, B.C. on April 13, the Green Party leader called the PMO "a $10-mil­lion-a-year par­ti­san op­er­a­tion filled with ruth­less, cut­throat psy­chopaths." Eliz­a­beth May, MP for Saanich-Gulf Is­lands, later claimed she made the com­ments ...

11 hours, 3 minutes ago
Views: 39 • Comments: 0
Tweets: 0 • Rating: 0
Skip Intro
Tea Party Candidate Curt Clawson Wins Republican Primary to Replace Former Rep. Trey Radel
Curt Clawson, a businessman who was little known months ago in Southwest Florida, won a contentious GOP primary Tuesday to fill the U.S. House seat left open by the scandalous downfall of Trey Radel. Clawson pitched himself as an ...

1 day, 3 hours ago
Views: 198 • Comments: 0
Tweets: 7 • Rating: 0
MichaelJ
2014 Rip Curl Pro Bells Beach - ASP - Finals Day!
More: 2014 Rip Curl Pro Bells Beach - ASP The women's final is in the water now and the men's quarterfinals begin after a champion is crowned. Bells beach is delivering the goods today with clean conditions for the ...

1 day, 4 hours ago
Views: 73 • Comments: 0
Tweets: 1 • Rating: 0
Political Atheist
NYT Story-American Middle Class Is No Longer the World’s Richest
After-tax middle-class incomes in Canada -- substantially behind in 2000 -- now appear to be higher than in the United States. The poor in much of Europe earn more than poor Americans. The income data were compiled by LIS, ...

1 day, 8 hours ago
Views: 167 • Comments: 0
Tweets: 0 • Rating: 2
palmerskiss
Debate Discrimination - Houston Chronicle
We're glad to see Mayor Annise Parker finally stand up and propose a human rights commission that will provide local due process for victims of public discrimination. Parker told the Chronicle editorial board that she plans to release a ...

4 days, 7 hours ago
Views: 227 • Comments: 0
Tweets: 0 • Rating: 0
Idle Drifter
Calgary stabbings: How knife crime in Canada can cause ‘moral panic’
What Calgary police chief Rick Hanson called the "worst mass murder" in the city's history didn't end at the barrel of a gun. Instead, the 22-year-old suspect identified on Tuesday as Matthew de Grood is accused of entering the kitchen ...

6 days, 21 hours ago
Views: 389 • Comments: 6
Tweets: 0 • Rating: 0
aagcobb
New York Electoral College: State Joins National Popular Vote Interstate Compact.
Ben Mathis-Lilley, Slate: New York Electoral College: State Joins National Popular Vote Interstate Compact. Instead of pushing for a Constitutional amendment, which would have to be ratified in 38 states, advocates ask individual state legislatures to pass an agreement: that ...

1 week ago
Views: 371 • Comments: 8
Tweets: 0 • Rating: 2
 Frank says:

Don't clap for destroying America. This place is as good as you want to make it. -- Zappa introduced "Billy the Mountain" by revealing that Billy and Ethel took a vacation trip across the United States, destroying it in the process. This was Zappa's response to the applause and cheers from the audience. Cleveland Colliseum, 1971