The Conservative Cave
Current Events => Economics => Topic started by: BlueStateSaint on May 17, 2011, 02:32:34 PM
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I've been thinking about the debt limit debate, especially with the "Gangster Government" that is currently in the Executive Branch. What if the Obamessiah just ignored the debt limit, and told the Treasury to continue to issue new debt, and just carried on? Who would stop them?
The reason why I ask this is spurred on by something unrelated--the denial of FEMA aid to Virginia and Texas, two states whose governors have been against Teh Wun and all of his stuff lately (perfectly justified, and the right thing to do, I might add).
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.......What if the Obamessiah just ignored the debt limit, and told the Treasury to continue to issue new debt, and just carried on? Who would stop them?.......
Becuase despite Obama's flaunting of the Constitution on many occasions, he can't get around the fact that Congress controls the purse strings.
Even if he were able to pull such a stunt, not even Democrats in Congress would appropriate any ill-gotten funds
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There could be dire consequences if he did, since it would make the validity of those debt instruments suspect and that could cause some unpredictable cascading effects such as grading them as junk bonds by the private sector rating firms, particularly if there was any though that a successor administration might disavow them. There is also the more mundane issue that it might well be seen as an unlawful action by the executive agencies and their civil service employees responsible to execute the order, and they would just choke on following it through. Nobody but political appointees wants to risk breaking the law or getting fired for loyalty, and those guys aren't going to be running the machinery that makes it happen.
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Art 1. Sec 8:
The Congress shall have power to ...To borrow money on the credit of the United States
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Gang, let's remember that this administration also forced out the CEOs they didn't like at GM, and gave GM and Chrysler stock to the UAW, completely outside legal bounds.
I think that he'll try it.
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Gang, let's remember that this administration also forced out the CEOs they didn't like at GM, and gave GM and Chrysler stock to the UAW, completely outside legal bounds.
I think that he'll try it.
He does that he will be impeached by the house.
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He does that he will be impeached by the house.
Maybe by the dems, but not the GOP. Not this GOP. (http://www.clevescene.com/scene-and-heard/archives/2011/04/07/john-boehner-cried-again) Ive never seen such a group of linguine spine wimps and democrat appeasers in my life.
These next two elections cant come soon enough.
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Impeachment by the House might be an option, but I don't think it would bother hussein. Conviction by the Senate won't happen. Remember, he said he would CHANGE America.