Mood's Seems To Understand The Credit Market (Amendment XIV Is Likely Sufficient)!

Discussion in 'Politics' started by mascale, Jul 18, 2011.

  1. mascale
    Offline

    mascale VIP Member

    Joined:
    Feb 22, 2009
    Messages:
    4,035
    Thanks Received:
    210
    Trophy Points:
    85
    Ratings:
    +453
    Moody's has finally suggested a more Back to Basics, Constitutional Approach, to the U. S. Credit Market program. The suggestion is to revert to pre-1917, and abollish the debt ceiling.

    Moody's warns again on U.S. debt: eliminate debt ceiling - Jul. 18, 2011

    Before 1917, Amendment XIV contained the provision, "The validity of the public Debt of the United States, authorized by law, including debts. . .(incurred when there was no debt ceiling). . .shall not be questioned."

    There is no specific Constitutional requirement of the debt ceiling. In fact the United States was able to create a deficit without it--In fact starting from day one.

    Majority Rule--for example in Corporate Stockholding--is no longer intended by The New GOP of the Old Fat White People, Cavoriting About Naked On Other People's Yacht's, Dumpting Substance and Other Treasure Into the Sea--to be legal again in the United States.

    The Constitutional basis is not clear, but the obligations have already been incurred, and in majority rule, and even in the most recent federal budget.

    Moody's seems to know all about them.

    "Crow, James Crow: Shaken, Not Stirred!"
    (Cavoriting About. . . On What Basis are they doing this(?)!)
     
  2. waltky
    Offline

    waltky Wise ol' monkey Supporting Member

    Joined:
    Feb 6, 2011
    Messages:
    20,887
    Thanks Received:
    1,791
    Trophy Points:
    215
    Location:
    Okolona, KY
    Ratings:
    +3,885
    Granny says we all gonna be broke an' it gonna be dem politicians' fault...
    :eek:
    Debt ceiling: What happens if Congress doesn't raise it?
    July 21, 2011: -- What happens if lawmakers fail to raise the debt ceiling by the Aug. 2 deadline?
     

Share This Page