Posted on 10/06/2013 11:33:27 AM PDT by Cincinatus' Wife
Boehner is not a great public speaker, but he’s hanging in there against z lot of pressure, and this needs to be encouraged. Many of the hate-Boehner crowd here don’t realize that this has gone way beyond just a dispute over the CRs or even over Obamacare.
Barry is threatening to simply preempt the legislature by invoking the 14th Amendment. This is a constitutional crisis, and while Boehner’s weakness may have enabled it, he’s doing the right thing now.
The amount taken in includes Social Security tax revenue which is added to the general fund and which is redeemable by trust bonds which are effectively nothing more than IOUs.
There is not enough money for Social Security, the military and interest on national debt along with all other obligations. There’s just not enough and this is the reason the federal government is running a massive deficit and has been for many many years. But this is another story.
In 1913 the Income Tax and the Federal Reserve Act were enacted for reciprocal purposes. The US Income Tax has always been a domain of the Federal Reserve with Treasury acting as facilitator and enforcer. And indeed the long term agreement has always been that tax revenues will first be allocated to interest payments.
But that’s not possible without raising the debt ceiling in light of Social Security payments.
If you are a politician and you have the option of paying the interest and avoiding default AND letting Social Security recipients go hungry and cold with winter coming,
OR
paying Social Security to avoid starvation and freezing AND defaulting on debt which will throw international finance, banking and bond markets into a death spiral, the choice is for today to raise the debt ceiling meaning go into more debt.
Tomorrow is a different story. Americans face a day of reckoning. But it will always devolve into a class warfare battle because the only way to dig out of this morass besides massively cutting government is to reform entitlements, meaning austerity.
But austerity measures translate to continue letting criminal bankers and financial con artists go scot free and letting develop a hostile response to the “Let them eat cake” wealthy class. Class warfare is a given.
One credible way out is to buy enough time to let FairTax enactment boost GDP in its first year by 10% and continue growing year over year until the deficit is eliminated, combined with entitlement reform.
Another way out that is complementary to the above is to pass Mark Levin’s Liberty Amendments.
Or, better yet, simply start supporting and defending the Constitution we’ve already got, staying well within the Enumerated Powers. Problem solved.
This is why the Dems are going nuts over the debt limit. After the bills are paid it is their pet projects that will not get funded.
Gosh yes, last time I looked Uncle Sugar was still sucking income and payroll taxes out of my paycheck.
“What would Jack Slater do?” is the better question.
good points...
I think Boehner knows raising the limit is much more dangerous that not raising it. And you’re right. obama wants to destroy this nation. That’s been his plan all along. And all the dems are going along with him. So I’m not sure he wants the limit raised. He’ll be just as happy to see our credit rating downgraded again. That will hurt.
Whenever a democrat shouts “It’s the law passed by congress, signed by the president and confirmed by the supreme court”, the response should be “If it’s the law. Why do you say obama can change it but congress can’t?”
I doubt any “for profit” hospitals will accept patients with this “insurance”. The deductibles are so high it’s like not having insurance at all.
The result will be “for profit” shutting hospitals down. Then we’re at government run healthcare for all. Which means my wait time at the VA will be so long I might as well not go.
Boehner is a lying sack of sh*t!
Debt has priority based on the Constitution AND the US takes in MORE than enough to cover the payments - there is NO question that the US will default!
I would not want to be a Democrat or Liberal newsie should we go down. I think trouble is afoot .....
I don’t understand the thing about wanting to be a “newsie”. I assume that’s a reporter.
I’m slow this morning, moreso than usual, so please explain.
Ya, some reporter or MSNBC type like Chris Matthews and his ilk.
Why is Boehnor pushing this default theory? Its crazy. If the debt limit does not get raised there will still be the same amount of money as there was last year.
On any given day more than enough revenue comes into the Treasury to pay the service on the debt. Barry will just have to prioritize spending just like we all do at home. Some weeks we don’t get the Blue Bunny Pistachio with almond ice cream.
Prolly can’t afford Obamacare, unemployment may have to go back to 6 mos instead of 3 years, 250,0000 govt employees we don’t need may have to go, A few govt agencies may have to be closed, free school breakfast and lunches may have to go, welfare may have to take a major cut, maybe Pakistan doesn’t get their 2 billion in foreign aid to enemies.
This is where Paul Ryan could be useful.
Pick everything that would get funded in the debt limit. Remove the most vile departments that Americans hate the most. (EPA for example) remove all Obamacare funding.
Hold a major press conference and announce it. Make sure in the presser the Cost of Obamacare and how it kills the debt is mentioned over and over. And include how the alternatives protect patient privacy and cost less,
Then let the Rats deal with it.
Why should Obama care if the US were to default on its debt?
It’s no sweat off his back.
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