Schumer and Dems Eyeing 14 amendment looophole: Ron and Rand Need To Out this Fraud!

[AuH20]

Scumbag!

http://www.huffingtonpost.com/2011/07/01/chuck-schumer-14th-amendment_n_888692.html

[GBurr]

Beware the dichotomy. They forget that default and raising the debt ceiling are not the only options. They could cut spending. Bring home the troops, stop corporate welfare, etc.

[Lucille]

Did Treasury Just Strategically (Intentionally) Default? (http://market-ticker.org/akcs-www?post=189249)


It sure looks like they did.

Yesterday.

http://tickerforum.org/akcs-www?get_gallery=1896

Note that the pink line did not move much. In fact, it went down.

It should have gone up - a lot - because the "Trust Funds" (you know, Social Security and Medicare?) that you folks on the left keep bleating about being "money good" and "actual debt" had a coupon payment from Treasury due yesterday.

IT WAS NOT MADE.

IF IT HAD BEEN, IT WOULD HAVE BLOWN THE DEBT LIMIT.

That's a default, and it instantaneously destroys both the claim that such activity is not "selective" or, if you prefer, "strategic" and it also destroys the argument that Medicare and Social Security Trust fund "debt" - not just public debt - is subject to the 14th Amendment and thus is "protected" against the Treasury choosing to blow it off.

[cindy25]

I don't see how a congressman and a senator could overrule an executive order; it will have to go to the SCOTUS

[Watch]

Its an obvious NO! Section 5 says only Congress has the power to enforce the 14th Amendment
If the Senate were to pursue that, we could then debate Perry V The United States 1935.

[robertwerden]

Well if they want to play that game:
"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"

So all the money we spent paying for the war against the insurgents in the 6 wars we have does not have to be paid to the military or the contractors.