I'm legitimately freaked out right now
I try not to post when I'm upset about something because I prefer to write semi-reasoned analysis instead of crazed emotional heaving. But there comes a time when crazed emotional heaving is a perfectly rational thing to do. We are now in one of those times.
Why am I so freaked out, you ask? Because I think the GOP is really, really, really going to let the United States default. They've figured out that holding the debt ceiling hostage is the perfect way to achieve all of their ideological goals. This is their big shot to drown government in a bathtub and they are not going to miss it. And the only reason they can get away with this is because our supposed Democratic "leadership" does not have the guts to come right out and say that the Republicans are threatening to destroy the economy unless they get everything they want. You know that things have gotten bad when David Frum actually wishes Obama would be a more forceful in standing up to the GOP:
“Call me naive,” President Obama invited viewers of today’s press conference.
Mr. President, invitation accepted: Unless that performance today conceals some unimagined occult plan, yes, you are naive.
Congressional Republicans have refused to raise the debt limit unless the Obama Administration agrees to large and immediate spending cuts. They have their finger on the nuclear button and are threatening to detonate unless they get their way. It seems crazy that they would actually do it, but congressional Republicans have done a pretty good job of convincing the Administration (if not yet the financial markets) that they just might do it.
Obama has responded by entering into negotiations with the congressional Republicans. These negotiations have not gone well, largely because Republicans are united upon an all-spending-cuts, no-tax-increases approach to deficit reduction.
I think I was one of the 1st to say so.
spare me your fucking bitching. Call your members of the house and senate. And bitch to them, this is not the place for it.
My sentiments exactly.
How is it not the place for this?
is he going to get results here or by calling the his elected reps.?
The two are not mutually exclusive. Why is talking about the debt ceiling on a politics blog so offensive to you? If this isn't the place for it, why have blogs then?
great results. Probably why alot of us complain.
Gotta be honest, with all the political activism I've taken place in, I think, in terms of actual results, I'm like... 2 out of 120.
I'm not saying give up the fight, but I think in today's political climate, calling your officials and telling them what you feel is one of the most useless things you can possibly do. Maybe a few actually listen, like Bernie Sanders. The rest listen to their donors.
I'm maybe one (if you count a favor from someone I already knew) to 200.
Well DADT sorta counts, and.. there was something else like, way back when. That probably would have passed with or without much support..
Up until Fukushima, I counted my anti-Nuke activism, thinking we did manage to stop the building of 'new nukes.'
Now, not so much...
Nothing like a meltdown to help the cause. Now, if Nebraska goes, nukes are dead forever.
Well you could say the same thing about literally any blog on the internet, really. "Oh, so you just wanna bitch, but you're not actually accomplishing anything."
Blogs are for sharing personal ideas and opinions. Of course people should direct their anger or fear into action, but... letting other people know how you feel is acceptable, too. >_>
Republicans are caught between the banks and the tea party, but the banks want them to raise the ceiling, and the banks and wallstreet have a lot of money.
I'm more worried about Obama catering to them, not calling their bluff, and raising the ceiling at the price of dismantling what's left of the middle class.
...Which sounds a lot like something he'd do. And have bad signs pointing at that being exactly what happens.
Of course this is the place to bitch. But bitch at them also.
Yes, ladies and gentlemen. Your source of political wisdom, freder421, has spoken. Do take heed:
If you have a legitimate complaint about how your government is functioning, call your representatives in Congress and complain to them. You will be doing your civic duty. You will be proactive. You might even get them to listen.
But, if you also happen to publish your political writings on a famous blog, please, for the sake of all that is good and pure, DO NOT PUBLISH YOUR GRIEVANCE!
Yes, you could inform literally hundreds of thousands of your fellow Americans about the issue that has you concerned. And true, your publication could result in those fellow Americans actually calling their own representatives to do their civic duty as well. Yes, by publishing on a blog as well known as Crooks and Liars, you can get your message out to far more people than just your own representatives, but that doesn't matter.
See, if you publish on a political blog, freder421 will have to listen to your bitching. You must spare freder421 from having to listen to your complaints!
Yes, it's true that freder421 is not stapled to his computer chair, eyes held open with toothpicks and his computer permanently frozen on C&L, but what does that matter? Freder421 has to listen to bitching, and C&L is just not the place for it.
Take heed, good people of America. Do not publish your opinions. Please spare freder421!
Everyone is equally entitled to the pursuit of happiness. Wasn't that once self evident?
Right on, Karen!
He might well be one of those pitiable individuals who are shocked to discover political commentary on a blog devoted to politics. Now everybody form a drum circle and we'll belt out a few choruses of Kumbaya to calm his troubled spirit.
Hasa Diga Eebowai
I think there is real reason for concern. I don't believe all Repubs are united on the idea of defaulting but almost all are willing to play this catastrophic game of chicken. The huge problem is that games of chicken can and do go terribly wrong. I think the Norquists of the world want to see everything collapse and now have enough useful idiots to actually help them accomplish this diabolical goal. A major offensive needs to take place in July - this is THE showdown of Obama's Presidency.
As Katty Kay pointed out on MtP last Sunday, simply entertaining the very idea of possibly defaulting flirts with catastrophe, making future investors nervous and demanding higher interest rates to convince them it's worth the gamble.
And doing that... raising interest rates... could plunge The World into a Global Depression.
* There are two types of Republicans: millionaires and suckers.
"Mugsy's Rap Sheet": Recording history for those who seek to rewrite it.
Don't forget it takes two to tango. Your comments seem disingenuous considering Republicans efforts to bring the president to the table to reach a consensus. The White House press secretary has said those negotiations are "not a conversation worth having." Republicans are convinced that continuing the unending debt would result in a much worse situation that any kind of default, and let's not forget the president and most democrats voted against raising the debt ceiling just a couple of years ago. The situation has only gotten worse since then.
Republicans have never tried to reach a consensus with the President. They have only ever tried to force the President into the Republican consensus.
As an advocate for survivors of relationship violence, I have heard that trite argument for years! Bullies are bullies by their own choice, and should be held accountable for their OWN vile behaviors.
These Republicans voted MULTIPLE TIMES to raise the debt ceiling during the Bush cabal, and NOW they can't do it--unless they get their way?!?
BTW, consensus, my rear appendage! That statement ALONE reeks of trolldom. Then, your post is rendered even MORE suspect by your assertion that the "Republicans are convinced that continuing the unending debt would result in a much worse situation that any kind of default." ANYONE with even a MODICUM of critical thinking skills knows this assertion is patently absurd.
I suggest you work diligently to develop critical thinking skills, and commit your energy to working with those of us who are committed to rescuing our media, our politics, and our global economy from the obscenely wealthy, greedy Corporate Megalomaniacs who ASSUREDLY do not give a rat's ass about you.
Actually, I'm just in agreement with the Democrats from a couple of years ago before they became war-mongering neocons. Back then:
Democrats: It would be a disaster to raise the debt limit.
Republicans: It would be a disaster not to raise the debt limit.
The truth is they were correct back then, but the shift in politics has made it the Democrats responsibility to continue the warfare state. Politics today:
Democrats: It would be a disaster not to raise the debt limit.
Republicans: It would be a disaster to raise the debt limit.
do not mistake my censure of the Republicans for 'blind partisanship.' IMHO, Mr. Obama has NOT provided the leadership this nation needs in these perilous times. Nancy Pelosi lost ALL of my respect when she asserted 'impeachment is off the table.' ACTUALLY, I find that most of the politicians du jour--regardless of party affiliation--are sock puppets for the obscenely wealthy hedonists who've usurped our media, our politics, AND our global economy.
The issue of 'raising the debt ceiling' is a red herring. Conflating this issue with unpopular, unnecessary cuts in historically essential AND effective social programs is insane.
In a room FULL of US citizens, I'd be hard pressed to find ten other people politically astute enough to analyze this or any other pressing issue threatening our nation. However, the vast majority of people in that room are WELL AWARE that this nation has gang awry. I remain hopeful that this same majority will stand united to do whatever is necessary to take back our nation from the obscenely wealthy Corporate Megalomaniacs who are BENT upon turning our global economy into a vast corporatocracy.
Inviting someone to take your position and nothing less hardly qualifies as negotiating. There would be absolutely nothing wrong with discussing future spending cuts with an eye to bending the deficit curve but the surest method of ending that discussion is for this administration to offer a scintilla of support to any Republican suggestion. As soon as they do the Republicans reverse course and condemn their own ideas. It pretty hard to negotiate with people who require only presidential concurrence to kill any of their own suggestions.
Hasa Diga Eebowai
One thing I DO know for sure: if the Dems cave on this, I will never participate in this fascist clusterfuck again.
Freedom Plaza, October 6 - until we oust the Corporate Megalomaniacs who've usurped our media, our politics, and our global economy.
The fucking retrograde reptiles that go by the name Republican need to be taken out and beaten in the streets roundly about the head and shoulders and then tried for treason.
So do you feel that way about President Obama and the Democrats who voted not to raise the debt limit a couple of years ago? Just curious. Cognitive dissonance in politics is a fascinating phenomenon.
I believe you mean "Senator Obama", not "President".
But either way, when Democrats voted not to raise the Debt Ceiling, it was on the condition of ending the war in Iraq and repealing the Bush Tax cuts. Doing those things at that time would of rendered the need to raise the DC moot.
But now, Republicans want *both*. They want their wars AND the tax cuts, and are refusing to raise taxes to pay for them.
So let's no go accusing people of "Cognitive dissonance."
* There are two types of Republicans: millionaires and suckers.
"Mugsy's Rap Sheet": Recording history for those who seek to rewrite it.
The Democrats were on the right track back then, but I haven't heard anything at all like that out of Washington recently. The truth is the President has a hard-on for war and would never sacrifice any of his precious bombs in order to bring down the debt.
Though I agree that the wars are not winding down fast enough, how many troops would we still have in Iraq right now if "100 years" McCain had won? Instead, we're looking at finally bringing that war to an end by the end of the year (sans splitting hairs on troops that will remain.)
And President Obama has been pretty adamant about letting the Bush Tax Cuts ending next year (though he never should have extended them).
They're pretty much still on that same track.
* There are two types of Republicans: millionaires and suckers.
"Mugsy's Rap Sheet": Recording history for those who seek to rewrite it.
How many troops would we have in Iraq right now if McCain had won? I didn't realize Obama and McCain were the only candidates running the election. I must have dreamed that Dennis Kucinich was running on a platform to end all wars.
Since Kucinich ran for the DNC nomination, didn't run as an independent, and wasn't on the ballot, then yes, McCain and Obama were the only candidates.
Now, if you want to make the case for the Green Party, go for it. But I have little tolerance for "both sides are the same" nonsense arguments.
* There are two types of Republicans: millionaires and suckers.
"Mugsy's Rap Sheet": Recording history for those who seek to rewrite it.
You need to be reminded that when Sen. Obama voted against raising the debt limit, he was using it only as a political statement about the Iraq War since he knew that it would pass anyhow. If there were any danger of the debt limit not being raised, I doubt that any responsible person would have voted against raising it.
I'm most annoyed that President Obama has yet to call them out for raising the debt five times when they controlled Congress under Bush.
Wanna blame the wars in Iraq and Afghanistan? Last time I checked, we're STILL at war in Iraq and Afghanistan.
* There are two types of Republicans: millionaires and suckers.
"Mugsy's Rap Sheet": Recording history for those who seek to rewrite it.
They know damn well Obama will fold before they can even ask him to.
It seems like it's harder to get banished from here than it is from Media Matters or Firedoglake.
...for the Constitutional Option, as our side is now calling it.
OF COURSE Republiscum want to trash the country. It's been clear for more than two years now.
Oh don't worry, the Democrats will capitulate like good little lap dogs: this is where Mr. O will provide leadership, in explaining patiently on the evening of August 1 that we simply *can't* let the world fall into a Global Depression, so we *must* go along with what the Republi-opaths want...
I'm convinced that is exactly the scenario that will play out. Makes me wonder which side the President is on sometimes...
the sad matter of fact is that business as usual aka avoiding a financial meltdown, means paying off the wall street hyenas not to crash the economy.
I was hoping this would have been about beck's last tv show. Oh well. He seems to be drowning it in a bathtub of tears
Brad, when you said you were freaking out, at first I thought it was because Beck is doing his last tv show for fox right now. ;)
If the republicans think blasting the economy will win them freinds, they need to look at the polls. The public isn't as stupid as they hope they are.
Say what you mean. Mean what you say. But don't say it mean.
Reed: This very same crowd engineered a War of Treason just eight short years ago.
War, Bubba.
WAR.
Which begs the question: just how much more did you need to know about them? I mean, to avoid having suffered the shock you now profess to be enduring?
If you're genuinely shocked at Who-They-Are-and-What-They're-Capable-Of-Inflicting, well.... for your own sake, perhaps it's best to consider your freak-out as the beginning of genuine political wisdom.
got nothing on the "modern" GOP. Who needs bombs when you can tank the world economy with a little domestic political hostage taking. The Rethugs couldn't care less about American citizens. Their addicted to the Koch. Elitist class warfare at it's finest. God Bless America. Freakin' hypocrites. If you let them win this one we'll have an annual love fest on our hands.
The Republicans and Democrats alike are voices of big business, and big business wants the debt ceiling raised. The markets aren't freaking out, either-- so clearly they understand this is all bullshit.
They're trying to scare you-- Republicans and Democrats alike-- so you'll accept "compromise" on issues like Social Security and Medicare (compromise meaning they will be eroded and the money handed directly to the super wealthy).
Don't fall for this same like of fearmongering bullshit AGAIN.
If there was a default, the first to hurt badly would be the GOP, as all that paper money they have would be worth a lot less. And good luck trying to finance that magnificent war machine that pays so many dividends, after a default.
This is just theatre to further the whole "austerity" (aka "give us your money grandpa") narrative.
CTHULHU 2012 "Why vote for a lesser evil?"
The Plutocrats have already sent out the word.
This is Kabuki Theatre to induce the sense of inevitability of our own draconian austerity measures.
The Banksters were bailed out big time, the Plutocrats got their tax cuts extended, the war profiteers are humming away, Big Pharma and Insurance got theirs.
Now it is time to screw everyone else. Especially the working class, the working and non working poor and seniors who are soon to be poor.
statusquObama, change you can only pretend in
You forgot to mention the soon-to-be-homeless seniors. I'm about to become a member of that group.
If it wasn't for the Seniors (not all of course but a lot more than "most"), we wouldn't be in this mess. They alone put these people in office.
when at best 50% of those eligible vote.
I vote socialist.
Maybe it is my fault after all.
statusquObama, change you can only pretend in
I am sorry to hear that.
I just turned 62 and have SS on the way. It is not much, but with my little pension I will survive.
At least if I can get rid of the debt hanging over my head.
And if nothing else bad happens.
I have a house, which is my little home. It is worth 1/3 of what it was before the crash.
But I have a friend who is losing his house. The Sheriff's auction is in two weeks.
He is beyond my help now.
He has a car and that is where his address will be.
Hang in there.
statusquObama, change you can only pretend in
I'll be putting much of the last of my resources into my car, to make sure it keeps running. I shall have a modicum of money left for gas and food. I'll have to learn to panhandle. Hopefully, I'll get to spend time in libraries, so that I can remain an online activist.
I plan to participate in Freedom Plaza this October, and am tucking away money for that purpose.
Hell, I'll probably end up homeless in DC! Hope I survive the Capitol Police...
This fear mongering is intended to provide a smokescreen for the two parties to hide behind so they can emerge from their negotiations at the eleventh hour and snooker their respective constituencies into believing that they did the best they could under difficult circumstances.
It is a complete charade. The markets know it. Otherwise, the bond yields on the 10 year treasuries would not be below 3 percent, and the CDS contracts on US government debt would not represent such a miniscule amount as compared against total outstanding debt.
I have no worries about default. The GOP will not allow a default. They would have to raise the ceiling to pass the Paul Ryan budget.
They and their operatives read these liberal blogs and make plans. Panic, fear, worry, like vampires they feed on this stuff, it just strengthens their heartless souls. Too much sarcasm confirming their powers over the "weak liberal", a dangerous meme that needs to be put to rest, is found all too often for our 'entertainment' on the 'good ol net'. Cynicism is a harmful self fulfilling prophesy because, never forget, they read these blogs and get their wicked ideas from chicken littles. We must stop this with greater optimism, planning, and unity.
Embrace diversity
get drunk and party,
Whatever govt and wall street wants to do, they are going to do no matter what.
Well of course the GOP is going to do this. On what planet have you been living the past two years?
The GOP is an invading force that is engineering a coup to overthrow the U.S. Sadly, hardly anyone wants to wake up and see this. Maybe someone will when the coup is complete and America is beyond saving. And right now, that may be something on the order of next Thursday.
Brad
You have nothing to worry about for now, but in a few years your freak out-O-meter will be activated to danger level. This is nothing but political posturing. The debt level will be raised, and we will be able to add more debt. This will make the war lovers happy, and the welfare lovers happy, all without rising taxes. Our free lunch will continue on. The politicians will get their votes to stay in office, and the masses will get their bread and circuses. The blood will continue to flow overseas, and the bankers and elites will continue to suck the life out of the masses till we are nothing but a shrunken, dry hull, lying in the dust heap of the middle class.
In the near future, there is going to be some very hard decisions to be made. Unfortunately, it will not get done with the current crop of politicians. Taxes will need to go up and spending will need to be cut. It’s very simple. However, I predict that this will not happen. There are too many divergent groups in this country. The elites like it this way-- black against white, Democrats against republicans, gay against straight, middleclass against poor. We are beyond the point of no return. The debt ceiling will be raised a couple of more times, but the party is going to end. The US Government is finding it hard to sell its debt. Other counties are starting to see the writing on the wall. As the debt gets bigger, the harder it will be to sell that debt. Interest rates on Treasury notes will start creeping up, so you are going to see more quantitative easing to keep them down. Uncle Ben and his magical printing press will fill the void. This situation cannot go on. There will either be a default or mass inflation that will make the 1970’s look like a boom. Maybe both. Either way it is going to be bad. Then your freak out-o-meter should be at level 11.
...is legitamately freaked out by congress limiting the amount of money that govt can print for itself...(since no-one else will lend to us)
...should be ashamed of borrowing on the backs of children who haven't even been born yet.
...they should also be ashamed of the fact that the money printing, (that which will be necessary if congress raises the ceiling), will result in more dollar devaluation and will in effect be stealing from wage earners and savers.
audit-prosecute-incarcerate
Great point. That is something that people miss.
PS love the quote :)
They have no concern whatsoever for you or me. They will do whatever they like regardless of the concequences because there are lumps of coal in place their heart and a void where their brains should be.
It's time to quit negotiating with terrorists. I've heard that before. The problem is, while the President talks a good game he's secretly in on the deal.
Let's ride this pony down...!!
Make it go faster!
.. he won because he didn't want the other kids to hate him.
What a spineless unmentionable piece of worthless ..
And yes I voted for him.
When will government of the people, by the politicians, for the corporations perish from this Earth?
Not soon enough!
Then at last Americans will hit the streets and start fighting back.
Maybe.
When will government of the people, by the politicians, for the corporations perish from this Earth?
Not soon enough!
Now, the country will get rolled for sure. Obama's a spineless, cowardly compromiser. We are doomed.
James Kwak
A nice little piece
here
statusquObama, change you can only pretend in
Ultimately, we're going to weather this one way or the other. If it means that we default, and descend into a decades long depression, then we are going to live with our friends, grow what we need, die younger, and still try to live our lives with dignity. I can't discuss the apocalypse with anything other than informed resignation at this point. I voted my vote, and will continue to do so. I've signed my petitions, I've attended my rallies. If our economic world is coming to an end, then let it come. I'm exhausted with sleepless worry.
The first heads to roll will be the GOP
NOBODY 2012
the other party always takes the opposing side.
Don't sweat it, Brad.
I mean, you're prepared, right?
six months supply of food & water, firearms & ammo, a cache of cash, silver dollars, & fuel, a stash of needed medicines, and ammo and booze for barter, maybe even organized a community / church retreat.
the question of 'what happens when an unstoppable projectile meets an unmovable target?' is strictly rhetorical, just like 'why would democrats maneuver themselves into a legislative and budgetary corner?', or like 'why would obama not only give our war criminals a free pass, but also adopt, embrace, and extend those same policies?'. sometimes the 'hope and change' we really need comes from unexpected places.
At this time, the USA effectively has a one-party system of government by/for/of the crony corporate kleptocracy. Prohibition I & II, the 'cold' war, the war on poverty, the war on drugs, the war on terror are all artificial constructs designed to furnish the Right Wing Authoritarians at the Fed and State levels with the justification to trample USA citizens' rights, shred the constitution & bill of rights, and oppress our long-suffering minorities, all while they raid the US treasury and bleed this country dry. Raising the debt ceiling only promulgates this particular status quo -- what good is that in an empire on the verge of collapse either way?
"Those who make peaceful revolution impossible will make violent revolution inevitable."
-- John F. Kennedy
U could be right. This could be their 1995 all over again. This time tho they think they can take it one step higher and win this one.
But as you say this can all be laid at obamas doorstep. From the lack of leadership, to bipartisanship, he has chosen to embrace those campaign dollars instead of doing the right thing. And this all goes back to February 2009. He had the republicans and their failed policies dead and bloated. All it took were a few liberal bills in congress getting passed and he would have put the sword thru their metaphorical hearts. But he chose to seek out those campaign dollars and embrace republicans and like Jesus calling out to Lazarus, Obama brought the republican party back from the dead. Dr. Frankenbama created this monster, now he has to live with it.
We have to live iwth it. The Obama's will live like royalty for a long time to come.
How about this:
1) The President declares a state of emergency
He puts all the republicans in prison until they vote his way - and pushes through indefinite unemployment extension, an end to the tax cuts for the rich, and an end to GATT, NAFTA and WTO membership. :)
I would love to see John Boehner spend a night in the drunk tank, I'm sure he would be ready to sign anything.
The president swore to uphold the constitution, against all enemies foreign and domestic. And the republicans are the enemy of the United States.
2) Defund all the military bases in republican districts and transfer them to Democratic districts.
Let's see how tough they are when they have to explain the loss of income.
3) Kill off Fox News Channel and Rightwing Radio
Fox News must be in violation of so many laws, like propagandizing the American people. They are not doing news, and yet they are everywhere.
The same for talk radio. How can the Democrats get any kind of message out when 90% of talk radio is rightwing talking points spewing hate radio?
The problem here is one that was identified in a column in the WaPo, namely that Jonathan Bernstein is scared that the republicans are going to cause economic chaos because they don't believe it would really happen. What we have is this. There may be enough TP true believer types in the House to shoot down any agreement that the negotiators come up with. They have convinced themselves that nothing would happen anyhow if US payments were missed or late because a couple pseudoeconomists told them what they wanted to believe, so they see no downside to voting against debt extension.
Because of that same dynamic, every time that someone explains to them that all hell WILL break loose if there is no extension, it just reinforces their belief that nothing will happen. If anything, their belief becomes stronger. If there are enough people like that in the Congress or Senate, then the debt will not be extended and chaos will result. Faced with an actual meltdown, they will sincerely argue that not raising the debt limit had nothing to do with the subsequent disaster because the cognitive dissonance associated with admitting that their cherished beliefs were wrong would be too much to bear.
The GOP just doesn't seem to understand that if America defaults the consequences will more than likely be global in impact I've said this before I think it's treason to attempt to destroy our economy for political gain. But since Wall St. will feel the upheavel first I'm certain they will tell their paid for lackeys in Congress to shut up and pass the measure rather than risk losing all this years profits...
A small mind is easier to lose...
the MIC WANTS 100% of our tax dollars, this is the point to which they are willing to push us,or is
it further, do we now have a monster on our hands which will not relaese it's grip because it feels that it is owed EVERYTHING?
I've said it before, the MIC will not stand for it's budget being reduced, and it will go to any lenghts to keep it that way. We should now be wondering just how much force these treasonous enemies from within are willing to go to sustain their standard of living?
There isn't going to be a default, even if the Rs are stupid and/or malicious enough to be willing to cause one by refusing to raise the debt ceiling,
The debt ceiling law has never had any practical force. It's pure theater, political grandstanding. It sets up an inherent contradiction in legal requirements on the administration that would arise on every occasion when the law might come into play. This law says that the US cannot borrow past a certain ceiling. But that stricture exists in the same universe as the many obligations to pay out money to all sorts of payees that the Congress created when it passed hundreds of other laws.
These laws creating the obligation to pay out money are still out there, unrepealed, and still carry the same formal legal force as the law that would forbid such payments once we reach the debt ceiling. Exceeding the limit would put the administration in the position of having contradictory legal requirements upon it, to spend obligated money, and at the same time to not spend if the money paid out has to come from borrowing above the limit. This contradiction means that one horn of the dilemma must be thrown out on judicial review. One of these laws, or sets of laws, has to be declared unconstitutional, because the law cannot place contradictory requirements on any entity.
Of course the administration will choose to ignore the debt ceiling. Sure, that would be illegal, but so would ignoring the obligation to pay what the law obligates that the US to pay. The adminstration will choose the illegality that has this advantage, that it doesn't also cause fiscal and economic Armageddon, in addtion to the feature that both choices have of being illegal. It's hard to see how the courts would fail to approve that choice, would fail to resolve the contradiction the same way, by throwing out the debt ceiling as creating an inherent contradiction to hundreds of other laws the Congress has passed since it passed the current debt ceiling law.
That's all without the 14th, which is nice to have in the pocket, and I'm sure will be appealed to if it comes to that, and the administration has to defend ignoring the debt ceiling. But the 14th isn't really necessary. The debt ceiling law would be thrown out on judicial review anyway, if the courts even bothered to grant cert to somebody challenging the administration after it decides not to bring the Apocalypse.
There is only one proper and legal way to reduce the national debt. Pass some combination of laws increasing revenues and/or reducing expenditures. You need both House and Senate, plus the president, to pass or repeal laws. Now, if you only have the House, and are not content to settle only for what is your due -- if you think you have the right to bypass those pesky requirements for reducing the deficit legally and Constitutionally -- then you indeed have no other recourse but to go beyond the law and beyond the Constitution, and grasp at a unilateral power that would let the House rule by unilateral decree, and pretend that this debt ceiling law gives you that power, by way of the power to take the economy hostage that you imagine it gives you. But that power would be entirely in your imagination, it doesn't really exist.
What's hard to explain here is why anyone treats these nuts as if it wasn't all just in their imagination. Does the administration actually want to end the social safety net, and is just using the fake threat of default as an excuse? Are they just trying to humor the nuts in order to avoid the messy public spectacle of the constitutional hard ball involved in just ignoring the ceiling?
I would be freaking out about either of those possibilities. The first is ideological treason, and would prompt me to resign from the party if it turns out to be true. The second would just be criminally incompetent politics. They're throwing the president a slow pitch right over the plate. By trying a scheme that is completely unworkable, is an empty threat, but that threat, repeated over and over again quite loudly, is to wreck the economy, they're giving him, gratis, an incredibly convenient way to both humiliate them, and cast blame for the economy on them. The economy sure looks like it's going to be Obama's Achilles heel next year. Why won't Obama accept the victory the other side is handing him?
I can give you a 100% guarantee, the debt ceiling will get lifted, probably just in time.
Most likely, the dumbocrats will cave in on anything and everything "for the good of the country".
The rethuglicans represent the rich, and the rich have the MOST to lose if the US goes into a default. They can short all the US bonds they want, it won't matter. For this reason alone, it will be taken care of, no need to worry.
If the politicians du jour (regardless of party affiliation) are genuinely concerned about this nation's economic recovery (pardon me while I laugh uncontrollably for a few minutes...), then WHY in the name of all that's Holy aren't they cutting their own salaries and bennies? Why not implement a few austerity measures of their own?
It is by their PERSONAL hubris we shall know them, these hypocrites who vogue for the cameras, all the while sucking the life blood out of our country.
The R's are going to push this to the eleventh hour because they know the democraps will be so petrified at the thought of being blamed for this mess, they will cave.I'm just trying to figure out how Obama is going to flip-flop on the Bush tax cuts that are supposed to expire in '12.
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