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The US is broke and the news is trickling out...I feel that is why this does not feel like a typical shutdown.
"In a government shutdown, Social Security checks still go out on time. In an economic shutdown — if we don't raise the debt ceiling — they don't go out on time," Obama said. "In a government shutdown, disability benefits still arrive on time. In an economic shutdown, they don't."
"In a government shutdown, Social Security checks still go out on time. In an economic shutdown — if we don't raise the debt ceiling — they don't go out on time," Obama said. "In a government shutdown, disability benefits still arrive on time. In an economic shutdown, they don't."
Any thoughts?
Any hope?
Any suggestions?
Is this all part of the plan to bring down the USA?
Wrabbit2000
reply to post by charles1952
I've said from the start that if this is about going all the way, then I'm honestly not kidding about saying it's inevitable and may as well get on with it. Sooner than later.
House GOP leaders also insist they don't want a default, and they've already passed a bill to prevent it—not that the media have paid any attention. First sponsored in 2011 by California Republican Tom McClintock and Pennsylvania Senator Pat Toomey, the Full Faith and Credit Act is essentially an insurance policy against miscalculation. Their bill certifies that U.S. sovereign debt will always be repaid, on time and in full.
If Congress fails to authorize a statutory increase in the debt limit—during a period of, say, intense political conflict over the fisc like the one now—the bill stipulates that Treasury can continue making contractual interest and principal payments to bond holders and rolling over debt with incoming tax payments. Debt service gets the first call on revenue.
The McClintock-Toomey bill replicates the guarantees that state constitutions have had for hundreds of years to strengthen investor confidence. It gives the Treasury Secretary discretion to prioritize among other federal obligations until the political deadlock ends, tempers cool and the parties can reach a deal. But it makes his first priority to protect the full faith and credit of the U.S.
Yet instead of embracing this insurance against default, Democrats have voted to kill it even as they cry havoc about the risk of default. The House passed McClintock-Toomey in May, but only on a 221 to 207 party-line vote after a raucous debate. The White House issued a formal veto threat, calling it "unwise, unworkable and unacceptably risky."