The Debt Limit can be BYPASSED!! (I. Rendered Unconstitutional, II. Have US Treasury produce 500 billion platinum coins (debt free) which can pay the entire debt, render the limit useless and then we can all put Republicans in a plane to China i.e., kick them in their rear!
First note that The National Debt Is a Republican Congress measure passed in 1971 by eliminating the Gold Standard http://t.co/H8Ppd5N this could be reversed AND NOTE IMF Chief: Republicans Could Cause Global Economic Turmoil http://bit.ly/qsoVrc
Note also as background to ceiling debate the comments of a high ranking conservative THE REAL GOP/LIBERTARIAN MOTIVE IN DEBT NEGOTIATIONS - No MORE LEECHES IN SOCIETY ... http://kvs.co/cChZ
Also, before proceeding note the Seven Deadly FALLACIES OF ECONOMIC CONSERVATIVE PHILOSOPHY "Seven Deadly Innocent Frau... http://kvs.co/bg01
**************** NOW THE ISSUE AT HAND *********************
I. Rendered Debt Ceiling unconstitutional - President can have the power to do it wihout congress approval as described in these articles:
DEBT LIMIT IS STATUTORY LAW TRUMPED BY the Constitution Section 4 of the 14th Amendment says, “The validity of the public debt of the United States…shall not be questioned.” http://t.co/3KvvnQJ
Dear GOP, default is unconstitutional
The tea party usurpation would destroy the original point of the Constitution. The Founders would be shocked — though I suppose they long ago stopped rolling in their graves. http://dyn.politico.com/printstory.cfm?uuid=39242262-48A0-45C3-A605-3A9DD53D8EDC
The Speech Obama Could Give: 'The Constitution Forbids Default' http://t.co/jhjRhCd
Geithner Reads Directly From Constitution: Debt 'Shall Not Be Questioned' http://huff.to/l4DdDvThomas Edison on Government Created Debt-Free Money http://prosperityuk.com/2000/09/thomas-edison-on-government-created-debt-free-money/
II. Debt can be eliminated by having the Treasury produce coins (has the power to do it) and deposit such for paying the debt with the Federal Reserve
"Seigniorage" ANOTHER WAY TO GO AROUND DEBT CEILING AND CONGRESS http://www.correntewire.com/will_he_say_he_has_no_choice_or_will_he_use_seigniorage
Obama can Direct TreasuryDept MINT to create platinum coin of $500 Trillion. Direct the mint to deposit the coin in its account at the New York Federal Reserve. Direct the Treasury to “sweep” the mint's account to collect profits from coinage (this would result in marking up Treasury's account at the New York Fed by $500 Billion). Inform Congress and the public that the previous actions were taken to head off any possibility of default http://www.ourfuture.org/blog-entry/2011041405/use-coin-seigniorage-now
US GOVERNMENT DOES NOT NEED TO BORROW MORE TO PAY DEBT Debt Limit IS IRRELEVANT "Coin Seigniorage" = US Government is the monopoly supplier of US dollars and yet our politicians go through life thinking the government will run out of money unless it can borrow more READ MORE:
Coin Seigniorage and the Irrelevance of the Debt Limit http://fdl.me/fhbbIb
Gop myth: increasing the government’s borrowing ability(increasing debt limit) is requesting another blank check for more spending ...
to do this or that else we don't do what is essential
is again Republican arrogance. Legislation should be passed regarding essential
government responsibilities unconditionally!
Trying to implement Social Re-engineering as Newt recently claimed accurately should not be done in aspects of governing that are essential. Changing things with a "Machete" is not right. There are millions of citizens who would be affected by this type of arrogance.
Fact is that if the same people when asked about cutting essential services dear to them then they overwhelmingly reject it...the ambivalence on these results leaves a lot to be desired.
The Midterm Election in 2010 meant people needed jobs...and were misinformed about why the Obama administration had to put in force spending that would stop the recession, they were scared of this emergency spending not understanding it in great part because the administration and democrats failed to present the themes correctly. So they fall easily for the Republican myth mentioned above.
However today the environment has changed and there is voter remorse all over regarding Republicans. Hope Democrats and the President can take a firm stance against Republican Hostage taking and respond in kind and with the same energy to prevent them from destroying our nation.
Furthermore Conservatives are ideologically geared to follow Regan's strategy of "starving the beast" NorQuest obsession with reducing the government to nothing (the libertarian view) and AynRand ideology of the "virtue of selfishness" and that any attempt to promote (enhance) the general welfare and provide for "domestic tranquility" thru the government social programs is unconstitutional... this mistaken conservative world view has to be fought against for it will destroy all of us..because of these ideological thugs we have a Revenue Problem now more than a Deficit Problem
Effects of not raising the Debt Ceiling by Congressional Research Service