Senators Restart Talks as Default Looms

New York Times ^ | Oct. 15, 2013 | Jonathan Weisman

[libstripper]

With the federal government on the brink of a default, a House Republican effort to end the shutdown and extend the Treasury’s borrowing authority collapsed Tuesday night as a major credit agency warned that the United States was on the verge of a costly ratings downgrade.

[libstripper]

The courageous House Tea Party faction should hang in there in spite of all this Chicken Little "sky is falling" BS about the debt limit and "default." There's more than enough revenue to cover debt payments and payments of earned benefits like Social Security and Medicare. Indeed, section 4 of the Fourteenth Amendment forces the Government to make debt payments first priority by stating, "The validity of the public debt of the United States, authorized by law, . . . Shall not be questioned." Also Article II, section 3 of the Constitution requires the president to, "take Care that that the Laws be faithfully executed," and Article I, section 7 provides that, "All Bills for raising Revenue shall originate in the House of Representatives[.]" Taken together that pretty well says the Senate should step aside and let the House decide what to do, including not raising the debt limit, since there actually will be no default, provided the Government follows the Constitution.

[American Constitutionalist]

Before the chicken littles start to go into a panic about how if the Republicans hold the line that they will lose in 2014 need to consider that most seats in the house are safe seats.
Tea party Conservatives ? HOLD THE LINE !

Chicken littles ? stop listening to the daily propaganda that is being played 24/7 in the MSM, because that is their desired effect, worry people to play into their hands.

[mrsmel]

So the Senate thinks it’s in charge of the purse now, and at the command of the executive branch, at that. What is the House good for? What are they supposed to “represent”? (other than the Tea Party patriots who have been unfailing in their determination. I can’t imagine the strength and integrity ot takes to hold the line as they have, when all their colleagues, especially those who are supposed to be on “their” side, have been insulting and undermining them at every turn. God grant them the energy of Paul)

[RightGeek]

http://www.powerlineblog.com/archives/2013/10/none-of-you-reporters-were-math-majors-were-you.php

[American Constitutionalist]

HEY FOLKS ! LISTEN UP !

We have heard the propaganda that this Administraion, Harry Reid, the Democrats, the MSN are pumping 24/7 every day about how the Tea Party Repubicans are commining suicide and how they are going to lose in 2014.
We also hearing from them how the Tea Party Republicans are bringing this crises and destruction upon America.

However ?

They accuse, they project upon the Tea Party Republicans the very same things that they are actually currently doing.

IT'S ALL A PLOY !
It's all a trap !
It's all a lie !

What ever they say ? what ever comes out of their mouth ?
They them selves are doing the very same things that they accuse the Tea Party Republicans of doing so we know what's in their playbook, we know their strategy.

Gen. Patton to Gen. Rommel " you magnificent bastard, I read your book ! "

[Justa]

The Liberal headline is incorrect. It is propaganda.

(sorry for the all-caps:)

NOT RAISING THE DEBT CEILING DOES NOT EQUAL DEFAULT

DEFAULT MEANS NOT MAKING DEBT PAYMENT ON NOV 15 AND REFUSING DEBT REPAYMENT.

[libstripper]

Raising the debt limit is the same thing as giving a dissolute, irresponsible teenager a larger credit limit on her Visa card.

[ssaftler]

Chicken littles ? stop listening to the daily propaganda that is being played 24/7 in the MSM, because that is their desired effect, worry people to play into their hands.

Too late, I'm afraid. Was at a meeting of the board for a non-profit I deal with, and the lady sitting next to me (a retired school teacher) was going apoplectic about the default. We were discussing setting up a brokerage account for the group ($1,000 at first!) to help us with some fundraising issues. This woman was practically in tears worrying that we would lose the money when the government defaults and others rush in to move to some other currency than USD for stability, and all will be lost, etc., etc., etc. Further, our $1,000 is insured with FDIC in our 0% yield bank account, but it's totally at risk with a brokerage firm, yadda, yadda, yadda.

Having been in banking for 25 years, living through the 2008 mess, I tried to explain that FDIC came perilously close to collapsing then, and if this "crisis" is so much worse than 2008, as she was going on about, there's a better than average chance that FDIC would collapse as well and we'd probably lose a fair chunk of the money in the "insured" bank account as well.

Then again, this is the same person who, on election night 2012, proudly proclaimed that, in her white-bread, left-wing loony-tune voting precinct, all went well, so any claims of voter fraud must be made up!

-------------

I tell ya, the weather in the SF Bay Area may be quite nice to deal with, but the dipsticks you have to deal with on a daily basis make me wonder at times if it's worth it!

[publius911]

Better the default now than later.
What benefit is there in orchestrating more spending, more debt, more blank checks in two months or two years?
The elected criminals may not know or care, but the people paying for all this know and care, and they're pi**ed.

Let it happen, if Obama and his flying monkeys think that business as usual forever is the solution.

No more CRs! Pass a damn budget. "Its the LAW!" no more and no less than, as all the clueless talking heads keep repeating ad nauseam, than the mantra that Obamacare "is the Law."

[publius911]

DEFAULT MEANS NOT MAKING DEBT PAYMENT ON NOV 15 AND REFUSING DEBT REPAYMENT.

And only Obama and the Senate can choose that path.

Yes, it is still a conscious choice.