The Trillion Dollar Coin.

[Sallow]

They will raise the debt ceiling for a year or so do some piddling minor cuts and again push the major problems of debt and deficit down the road fear not Democrats and Republicans will do what they do best when dealing with major economic issues avoid dealing with them.

Republicans still have the house majority.

It's a distinct possibility they will try these shennigans again.

Heck..they are talking about closing down the government.

[ame=http://www.youtube.com/watch?v=2_gvnkxnziA]GOP Senator: Republicans Need To Be Prepared To Shut Down The Government Over Debt Ceiling Fight - YouTube[/ame]

If they shut down the government then the out of control spending would stop.
I don't see a negative.

Oh no?

How about they stop giving West Virginny moula to build subs.

Go with that.

 

[blackhawk]

Republicans still have the house majority.

It's a distinct possibility they will try these shennigans again.

Heck..they are talking about closing down the government.

GOP Senator: Republicans Need To Be Prepared To Shut Down The Government Over Debt Ceiling Fight - YouTube

It's all political gamesmanship just like Obama saying he wont negotiate over the debt ceiling he will and in the end it will be raised with some half ass deal that accomplishes nothing same old same old.

Like turning a deficit into a surplus?

Like Clinton did?

I like that.

With the help of a Republican Congress don't forget that part the problem this is a different Congress and Obama is not Clinton.

 

[Sallow]

We already DID that, almost 100 years ago. See the 'Federal Reserve Act'.

I didn't take you for a paranoid conspiracy nut.

Did the Federal Reserve Act relinquish the power of Congress to coin money?

Yes or No will do...

The federal reserve is part of the government.

 

[Sallow]

It's all political gamesmanship just like Obama saying he wont negotiate over the debt ceiling he will and in the end it will be raised with some half ass deal that accomplishes nothing same old same old.

Like turning a deficit into a surplus?

Like Clinton did?

I like that.

With the help of a Republican Congress don't forget that part the problem this is a different Congress and Obama is not Clinton.

Republicans didn't vote for Clinton's budget.

You knew that, right?

 

[Sallow]

First off you need to understand this simple truth...

Businesses don't pay taxes, CUSTOMERS pay taxes.

And why are you guys so HOOKED on this 2 party duopoly!

I NEVER voted for Bush, so STOP putting me in that convenient (for you) but inaccurate category!

And in most businesses, it's the labor part of it..that creates products and profit.

Why ain't they sharing in that?

They are. They get a paycheck and in most businesses, benefits.

For the most part and thanks to conservatives, they've lost the ability to fairly negotiate for equitable compensation.

Which are why wages have been flat for the last 30 years or so.

While productivity has been up.

 

[Zander]

Meh...why worry? Obama's got this. He's like Santa Claus!!!

 

[Decus]

The debt ceiling, although recent, was put into place to act as a "lock on the liquor cabinet". The politicians didn't trust themselves with the power of unlimited spending and therefore why should we?

The spending we have is designed to preserve a status quo for incumbent politicians - to satisfy each politician or party's constituency.

What no one is asking is: what should we be trying to build with this money?

Where's the plan?

 

[Sallow]

The debt ceiling, although recent, was put into place to act as a "lock on the liquor cabinet". The politicians didn't trust themselves with the power of unlimited spending and therefore why should we?

The spending we have is designed to preserve a status quo for incumbent politicians - to satisfy each politician or party's constituency.

What no one is asking is: what should we be trying to build with this money?

Where's the plan?

What lock?

Most of this spending was done during the last administration.

This is the first administration that has had to face this sort of nonsense.

 

[GuyPinestra]

I didn't take you for a paranoid conspiracy nut.

Did the Federal Reserve Act relinquish the power of Congress to coin money?

Yes or No will do...

The federal reserve is part of the government.

Ummm, NO, it's not...

 

[Zander]

The debt ceiling, although recent, was put into place to act as a "lock on the liquor cabinet". The politicians didn't trust themselves with the power of unlimited spending and therefore why should we?

The spending we have is designed to preserve a status quo for incumbent politicians - to satisfy each politician or party's constituency.

What no one is asking is: what should we be trying to build with this money?

Where's the plan?

Plan? Liberals don't need a plan. These are the same people that passed ObamaCare without reading it. "We'll have to pass the bill to find out what's in the bill" Yipeee!!! As long as it's FREEEEEE!!!!!

At any rate, why worry? Obama Claus will save the day!! If he needs more money, he'll just print it! It's only a piece of paper or a trillion dollar coin!!

Out of work? Don't worry, Obama Claus made sure you'll get unemployment for 2 full years!!!

Hungry? don't trouble yourself- Obama Claus will give you food stamps for life!! SNAP!!

Need a cell phone for that cash income you have on the side? Obama phones for all!!

Need a place to live? Section 8 expansion by Obama= apartment for life!! Pass it on to your kids too!!

Obama has it all covered!! Food, housing, cell phones, even Corporate Welfare !! Just vote D to continue the gravy train!!! Woohoo!!!

 

[Sallow]

Did the Federal Reserve Act relinquish the power of Congress to coin money?

Yes or No will do...

The federal reserve is part of the government.

Ummm, NO, it's not...

Federal Reserve System - Wikipedia, the free encyclopedia

Do yourself a favor..at least know what you are talking about.

 

[boedicca]

Indeed. The Bernanke has been printing money via QE^Infinity for the past few years, why not just get it over with and make a few coins - with Obama's image engraved.

 

[Sallow]

Indeed. The Bernanke has been printing money via QE^Infinity for the past few years, why not just get it over with and make a few coins - with Obama's image engraved.

Must be the zirp thingie Bush put into place so many years ago..

 

[GuyPinestra]

The federal reserve is part of the government.

Ummm, NO, it's not...

Federal Reserve System - Wikipedia, the free encyclopedia

Do yourself a favor..at least know what you are talking about.

You should read your own links...

According to the Board of Governors, the Federal Reserve System "is considered an independent central bank because its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government, it does not receive funding appropriated by the Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms.

 

[boedicca]

Of course our Floor Sweeper doesn't know what ZIRP is.

 

[Truthmatters]

face it cons you wont be able to hold the debt ceiling like a club to beat on the American people with.


He can do one of these options and the courts will take a decade to deside it after its done.


Then you still wont get to USE this country like your fucking toy anyway

 

[C_Clayton_Jones]

Well it looks as if the boys in the GOP, for the second time, will use the debt ceiling as a "bargaining chip" to close down social programs for the poor and keep the fat cat military contractors awash in tax payer cash.

That leave 2 interesting options. Both are extraordinary..and well within the law.

One of them comes from the 14th Amendment.

Section 4.

The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned. But neither the United States nor any state shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void.

Constitutionally..the US is required to pay for things it buys. Using the debt ceiling to curtail this function is not constitutional..and would probably create a new case for the supreme court to handle, which in my opinion would be a good thing. The debt ceiling is pretty stupid..but before 2010 it was perfunctory.

Second..there's another way to get around this fiasco.

The trillion dollar coin.

If the Republicans in Congress are really irresponsible and outrageous enough to hold the reputation and economy of the United States of America hostage to win a few re-election points, then perhaps the appropriate response is for the Treasury to save the country by minting a "trillion-dollar coin."

If you're like most people, you'll jump to the wrong conclusion when you hear about this "trillion-dollar coin."

You'll think that the "trillion dollar coin" is just another way for the government to print money out of thin air to pay for spending we can't afford.

But that's actually not what the "trillion-dollar coin" idea is.

The "trillion-dollar coin" is just a legal gimmick that responsible people in the U.S. government might use to enable the country to pay bills and honor prior commitments ... without relying on a group of selfish, irresponsible people in Congress to first raise the debt ceiling first.

Basically, the "trillion-dollar coin" would just allow the Treasury, which pays the country's bills, to keep writing checks regardless of what Congress does with the debt ceiling.


Read more: The 'Trillion Dollar Coin' And The Republican Debt Ceiling Fight - Business Insider

Exactly.

The idiocy of the ‘debt ceiling’ needs to be done away with.

And republicans need to come into the 21st Century and deal with taxing and spending issues in an objective, pragmatic, and responsible manner; not like partisan ideologues.

The last time we deal with this the TPM succeeded in getting the Nation’s credit rating downgraded.

The TPM and those on the radical right are the greatest threat to America’s future economic well-being, not the debt.

 

[Zander]

It's the spending, stupid.

 

[Sallow]

Ummm, NO, it's not...

Federal Reserve System - Wikipedia, the free encyclopedia

Do yourself a favor..at least know what you are talking about.

You should read your own links...

According to the Board of Governors, the Federal Reserve System "is considered an independent central bank because its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government, it does not receive funding appropriated by the Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms.

And?

It's still part of the government.

Who was Bernake appointed by?

Dick Fuld?

 

[Truthmatters]

The Tea party doesnt want to do the job they are hired to do.

They want to put iron rods in the spokes of the wheels of government.

They what to kill it and distory it.


They are the most unAmerican party faction to walk our countrys soil.