Ben Swann Reality Check: Can Obama sidestep congress on debt ceiling?

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posted on Jan, 9 2013 @ 10:37 PM
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Democrats have written letters to Obama asking him to override Congress to raise the debt ceiling. Is this possible? Is it Constitutional?

Ben Swann's got the reality check:

www.fox19.com...

Ben's Reality Check facebook page: www.facebook.com...
Ben's Full Disclosure Facebook page: www.facebook.com...

Disclaimer: Whenever Ben Swann's videos are posted on ATS, people are so shocked that a 'FOX' journalist can get away with some much truth. The TRUTH is, Ben Swann works for Raycom Media, an independent television company that contracted with FOX as an affiliate. Meaning, Fox doesn't have any say in what their company does, RAYCOM MEDIA has the say.

Cliff notes: Does Ben Swann work for Fox? No.
edit on 9-1-2013 by eLPresidente because: (no reason given)




posted on Jan, 10 2013 @ 12:27 AM
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reply to post by eLPresidente
 


If congress is divided and a timely decision is needed, the buck stops with Obama.

If the ceiling is raised then the debt and repayments continue to grow, reducing more tax revenue to the public sector and requiring more government bonds to cover the costs. Eventually the compounding effects of the interest and flood of bonds in the market will lead to a default on it's repayments. As for when this position will be reached I am not sure, but a lot of concern is growing around with this fiscal cliff. The effect this will have on the markets is a loss of confidence and devaluation of the USD with possible US economic collapse.

If the ceiling is not raised then government services will grind to a halt as there is no money to pay its employees and other services. The USD will continue to operate but many people will be out of a job or not get paid with those down the pecking order first to be let go. This will result in an economic depression, as for if it will help avoid or further compound an economic collapse is uncertain.



posted on Jan, 10 2013 @ 12:30 AM
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I agree with Mr. Swann that the President does not have the authority to borrow money, only the Congress does.

And I want to thank FOX for giving him an on-air forum for his comments.



posted on Jan, 10 2013 @ 12:45 AM
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Originally posted by kwakakev
reply to post by eLPresidente
 


If congress is divided and a timely decision is needed, the buck stops with Obama.

If the ceiling is raised then the debt and repayments continue to grow, reducing more tax revenue to the public sector and requiring more government bonds to cover the costs. Eventually the compounding effects of the interest and flood of bonds in the market will lead to a default on it's repayments. As for when this position will be reached I am not sure, but a lot of concern is growing around with this fiscal cliff. The effect this will have on the markets is a loss of confidence and devaluation of the USD with possible US economic collapse.

If the ceiling is not raised then government services will grind to a halt as there is no money to pay its employees and other services. The USD will continue to operate but many people will be out of a job or not get paid with those down the pecking order first to be let go. This will result in an economic depression, as for if it will help avoid or further compound an economic collapse is uncertain.


Then shouldn't balancing the budget be a top priority if we want to prevent all of those 'horrible' things from happening if the debt ceiling isn't raised?

When is enough, enough?



posted on Jan, 10 2013 @ 12:57 AM
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reply to post by kwakakev
 

I'm sorry kwakakev, this is much too important for:

If congress is divided and a timely decision is needed, the buck stops with Obama.
For Obama to raise the debt ceiling on his own to borrow more money would require either an unconstituional action, or finding some excuse, like martial law, to set aside the Constitution and govern as a king. No matter how much division there is in Congress, I don't think they'd sit still for either option.



posted on Jan, 10 2013 @ 05:11 AM
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reply to post by eLPresidente
 




Then shouldn't balancing the budget be a top priority if we want to prevent all of those 'horrible' things from happening if the debt ceiling isn't raised?


Balancing the budget should be a top priority. However, given the reality of the situation it does appear that too little, too late is being achieved. Having the worlds largest military out on duty has a massive cost associated to that. With many multinational companies picking up the plunder it is just not cost effective business for the American public to be involved in. Sure there are other things like the recent financial collapse, trade issues, health care and many others all putting pressure on the budget.



When is enough, enough?


When we wake up to another of those 9/11 days. Next time it will not be hijackers, but we will know life will not be the same as it is time to fall of that fiscal cliff.



posted on Jan, 10 2013 @ 05:20 AM
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reply to post by charles1952
 




For Obama to raise the debt ceiling on his own to borrow more money would require either an unconstituional action, or finding some excuse, like martial law, to set aside the Constitution and govern as a king. No matter how much division there is in Congress, I don't think they'd sit still for either option.


If the functioning of your local ATM machine, police station, high school and many other critical services comes down to an act by Obama, it is clearly a national security issue. If all the banks have to close their doors then expect martial law as the mess gets cleaned up. If things do get this dire, look to who the military support as to wither or not such decisions are accepted as they will have the final say.





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