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
aagcobb
Jody Hice Is Running for Congress, Thinks a Woman Can Do the Same With Her Husband’s Permission.
Finding someone more right-wing than the Rep. Paul Broun of Georgia may have seemed impossible. Conservative group the Madison Project gushed, "It is not an exaggeration to say that Congressman Paul Broun (R-GA) has sustained the most conservative voting ...

2 hours, 19 minutes ago
Views: 45 • Comments: 0
Tweets: 0 • Rating: 0
Randall Gross
Android Crypto Blunder Exposes Users to Highly Privileged Malware
The majority of devices running Google's Android operating system are susceptible to hacks that allow malicious apps to bypass a key security sandbox so they can steal user credentials, read e-mail, and access payment histories and other sensitive data, ...

5 hours, 2 minutes ago
Views: 124 • Comments: 0
Tweets: 7 • Rating: 0
Skip Intro
Outside Money Drives a Deluge of Political Ads
WASHINGTON -- An explosion of spending on political advertising on television -- set to break $2 billion in congressional races, with overall spots up nearly 70 percent since the 2010 midterm election -- is accelerating the rise of moneyed ...

1 day, 4 hours ago
Views: 180 • Comments: 1
Tweets: 4 • Rating: 3
Rightwingconspirator
Washington, D.C., Handgun Carry Ban Is Ruled Unconstitutional
I agree. Bans are not an option. Jurisdictions like DC will just have to deal with the fact that regulation is the path. Bans don't work. Bans are illegal and unwise. It's simple. we as a society have chosen to ...

1 day, 23 hours ago
Views: 465 • Comments: 90
Tweets: 0 • Rating: 5
Romantic Heretic
Preventing Poverty Not Allowed As A Goal for Charity
The Canada Revenue Agency (Canada's equivalent of the IRS) has told OXFAM Canada that it cannot list 'preventing poverty' as a goal, only 'alleviating' it. The reason is "Relieving poverty is charitable, but preventing it is not." This is just ...

4 days, 1 hour ago
Views: 452 • Comments: 11
Tweets: 0 • Rating: 4
FemNaziBitch
Safer Era Tests Wisdom of ‘Broken Windows’ Focus on Minor Crime
While the apparent chokehold fueled much of the initial public outcry, community leaders have begun asking whether focusing police officers so intently on such petty offenses makes sense in a city that is far different and far safer than ...

4 days, 8 hours ago
Views: 347 • Comments: 2
Tweets: 0 • Rating: 1
Mentis Fugit
Frisson
Over at the quirky Riddled blog, I encountered this music video link. I have the album, but I had last listened long ago, and I had forgotten the lyrics. The lengthy, moody intro slowly drew me back thirty five years, ...

6 days, 18 hours ago
Views: 249 • Comments: 0
Tweets: 0 • Rating: 0
BadExampleMan
The painful futility of war
This makes me furious. These men pledged their loyalty to their country and their country betrayed them. It treated them as disposable, throwing their lives away in a war that was premised on lies, that was chosen gleefully, and that ...

1 week, 1 day ago
Views: 429 • Comments: 0
Tweets: 1 • Rating: 1
MichaelJ
Mick Fanning Wins J-Bay Open 2014
More: MICK FANNING WINS J-BAY OPEN Finals day for the contest was run in perfect Supertubes conditions. Too bad Kelly Slater and Jordy Smith were eliminated in lesser quality surf - it would have been amazing to have both of ...

1 week, 1 day ago
Views: 339 • Comments: 0
Tweets: 0 • Rating: 2
Thrazidun
Paris: Jews Fight Back Against Islamist Mob - Jewish World - News - Arutz Sheva
More: Paris: Jews Fight Back Against Islamist Mob - Jewish World - News - Arutz Sheva

1 week, 4 days ago
Views: 988 • Comments: 5
Tweets: 0 • Rating: 2
 Frank says:

The drummer's playing in 4/4, the Saxophone player is playing 5/4, the guitar player is picking his nose....