who will get the blame when we do not raise the debt ceiling? (suspect, Reid)
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Ahhh,
What isn't being discussed is the "Nuclear Option". What happens when there is no budget and no increase in the debt cieling? Then the Anti-Deficiency Act come in. Basically, it states that the only thing that gets paid are existing obligations and contracts. So under the ADA, interest payments on existing U.S. bonds get paid. Programs that were funded for multiple years get paid (like Obamacare). existing multi-year contracts get paid.
Now, everything else is fair game. And guess what? With no official budget or permitted borrowing authority from Congress, Treasury gets to decide who doesn't get paid. Since Treasury is part of the Administration, they will make sure that the cuts do not affect Democrat special interests, nor districts that have Democrat representation. This means that the brunt of the cuts will be directly aimed at the "safest" Republican districts since Democrats have nothing to lose in those districts. Agricultural subsidies will immediately stop. Forced closure of military installations. suspended VA benefits in red states. We will perhaps even see Medicare and Medicaid suspended against registered Republicans. All legal under the ADA.
Remember, ultimately all politics are local. Republicans will finally see drastic cuts in government spending, but their constituents will pay the price. You made your bed, now lay in it.
That isn't what the act says or it would have been ruled unconstitutional years ago. The courts would knock down any plan that barred people in one state, or better yet, citizens from one state from not getting the same benefits as citizens in another state.
Ahhh,
What isn't being discussed is the "Nuclear Option". What happens when there is no budget and no increase in the debt cieling? Then the Anti-Deficiency Act come in. Basically, it states that the only thing that gets paid are existing obligations and contracts. So under the ADA, interest payments on existing U.S. bonds get paid. Programs that were funded for multiple years get paid (like Obamacare). existing multi-year contracts get paid.
Now, everything else is fair game. And guess what? With no official budget or permitted borrowing authority from Congress, Treasury gets to decide who doesn't get paid. Since Treasury is part of the Administration, they will make sure that the cuts do not affect Democrat special interests, nor districts that have Democrat representation. This means that the brunt of the cuts will be directly aimed at the "safest" Republican districts since Democrats have nothing to lose in those districts. Agricultural subsidies will immediately stop. Forced closure of military installations. suspended VA benefits in red states. We will perhaps even see Medicare and Medicaid suspended against registered Republicans. All legal under the ADA.
Remember, ultimately all politics are local. Republicans will finally see drastic cuts in government spending, but their constituents will pay the price. You made your bed, now lay in it.
That isn't what the act says or it would have been ruled unconstitutional years ago. The courts would knock down any plan that barred people in one state, or better yet, citizens from one state from not getting the same benefits as citizens in another state.
Just more scare tactics.
The Anti-Deficiency Act has never been tested in a court of law. Furthermore, any legal case would take months or even years to resolve. Any court order to resume payments would create a further constitutional crisis, as the federal government has no borrowing authority, unless the debt clause of the 14th Amendment is invoked. Then it's really game over for the GOP, as there then there is no reason for the federal government to adopt a credit limit.
The point is that forcing the government into default would have dire consequences on everyone, but especially on GOP clients that hold a lot of U.S. debt (banks, large corporations, the very wealthy). Followed with targeted cuts against GOP interests and voters, then the Republicans will bear the pain of their decisions. This is why they are desperately trying to cut a last minute deal, while Obama and Reid continue to say "no".
House Republicans, who will reap the rewards of their actions next year.
Unless the democrats in congress can come up with a magic check book they are going home. Are you going to lend them money? i wouldn't lend them 10 cents.
Even if we did raise that who is stupid enough to lend congress money anymore? The rest of the world knows we will default, and still tell them what to do
Im so glad your view of not raising the debt ceiling limit is a very very small minority of all Human beings across this globe.
Not even your party's leaders, nor the vast majority of the rank and file, agree with you.
Really? And you say this because:
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