The 14th Amendment, Sec. 4

[Kondor3]

Nobody is 'questioning' the validity of the debt.

We are merely at-risk of not making payments on the debt in a timely manner.

Big difference.

 

[KokomoJojo]

Nobody is 'questioning' the validity of the debt.

We are merely at-risk of not making payments on the debt in a timely manner.

Big difference.

How quaint, a government we cannot question the actions of.

So whats the different between being a prisoner and a citizen? or are they synonyms after all?

 

[KokomoJojo]

"The validity of the public debt of the United States, authorized by law ... shall not be questioned."

Food for thought.

Entire section putting the above in context:

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."

The GOP wanted to pass a law giving Treasury authority to allocate revenue so debt would be paid first. Obama promised to veto it.

Anyway, what is your purpose in posting, or what do you propose?

I thought they were already bankrupt??????

how can they go bankrupt again without first paying off their debts from the last one?

 

[Kondor3]

Nobody is 'questioning' the validity of the debt.

We are merely at-risk of not making payments on the debt in a timely manner.

Big difference.

How quaint, a government we cannot question the actions of..."

I'm pretty sure that that was originally intended to differentiate between the valid debt of the United States while repudiating the debt of teh Confederate States, yes?

And I'm pretty sure that the post-Civil-War usage is construed as: You can question proposals to run-up debt all you like, but, once debt has already been incurred in your name, you cannot question its validity.

Sounds entirely reasonable to me, at first glance.

"...So whats the different between being a prisoner and a citizen? or are they synonyms after all?

A little too melodramatic for my taste, today.

 

[Kondor3]

Man-oh-man... the Chinese are really gonna be pissed if we default.

How much of our paper have they bought-up?

Didn't they help float the cost of the Iraq War, buying-up all those Treasury Notes?

I wonder if we put up any collateral?

Taiwan?

We'd better be prepared to nationalize any pledged assets as soon as we belly-up, to avoid their seizure in the courts.

I can just see it now... an International Sheriff's Sale, with Washington D.C. up for auction...

Unless the real owners step back in and redeem the mortgage...

 

[KokomoJojo]

Nobody is 'questioning' the validity of the debt.

We are merely at-risk of not making payments on the debt in a timely manner.

Big difference.

How quaint, a government we cannot question the actions of..."

I'm pretty sure that that was originally intended to differentiate between the valid debt of the United States while repudiating the debt of teh Confederate States, yes?

And I'm pretty sure that the post-Civil-War usage is construed as: You can question proposals to run-up debt all you like, but, once debt has already been incurred in your name, you cannot question its validity.

Sounds entirely reasonable to me, at first glance.

"...So whats the different between being a prisoner and a citizen? or are they synonyms after all?

A little too melodramatic for my taste, today.

However since it applies across the board to all states it seems to be a huge leap to think it ends with the south paying the bills.

The 14th was the reconstruction of the government where the rights of man (Bill of rights) over the government were usurped in exchange for civil rights and the police state under the government within a citizen franchise.

When you have no right to question what kind of government is that again?

 

[KokomoJojo]

We'd better be prepared to nationalize any pledged assets as soon as we belly-up, to avoid their seizure in the courts.

I can just see it now... an International Sheriff's Sale, with Washington D.C. up for auction...

Unless the real owners step back in and redeem the mortgage...

Thats hilarious!

Yeh only a few years ago china was 35 miles off the california shore testing missiles when they found out that many of the securities that banks sold to them were copies and worthless.

 

[ShootSpeeders]

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

So they HAVE to pay those federal pensions. Also social security. But welfare and medicaid, being charity not obligations, can be cut.

 

[JakeStarkey]

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

So they HAVE to pay those federal pensions. Also social security. But welfare and medicaid, being charity not obligations, can be cut.

Defense can be cut to meet the assistance and Medicaid obligations.

 

[RetiredGySgt]

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

So they HAVE to pay those federal pensions. Also social security. But welfare and medicaid, being charity not obligations, can be cut.

Defense can be cut to meet the assistance and Medicaid obligations.

Won't happen.