11–20 of 68 posts
It's unlikely the House will pass a clean debt ceiling hike. The GOP has not budged since the beginning of the new Congress. The MAGA caucus is determined to extract spending cuts at any costs. The way I see it, one of three things will happen: 1) The executive branch will invoke Section 4 of the 14th Amendment[1] and direct, by Executive Order, the Treasury Department to continue paying interest to bondholders, effe…
It's unlikely the House will pass a clean debt ceiling hike. The GOP has not budged since the beginning of the new Congress. The MAGA caucus is determined to extract spending cuts at any costs. The way I see it, one of three things will happen: 1) The executive branch will invoke Section 4 of the 14th Amendment[1] and direct, by Executive Order, the Treasury Department to continue paying interest to bondholders, effe…
It's unlikely the House will pass a clean debt ceiling hike. The GOP has not budged since the beginning of the new Congress. The MAGA caucus is determined to extract spending cuts at any costs. The way I see it, one of three things will happen: 1) The executive branch will invoke Section 4 of the 14th Amendment[1] and direct, by Executive Order, the Treasury Department to continue paying interest to bondholders, effe…
What is the desired end game supposed to be, of successive "clean" debt ceiling hikes? How much longer should we be spending money we don't have—enough to make inflation even worse? Enough that nobody will lend to us anymore and default is forced? What's the plan here?
It's unlikely the House will pass a clean debt ceiling hike. The GOP has not budged since the beginning of the new Congress. The MAGA caucus is determined to extract spending cuts at any costs. The way I see it, one of three things will happen: 1) The executive branch will invoke Section 4 of the 14th Amendment[1] and direct, by Executive Order, the Treasury Department to continue paying interest to bondholders, effe…
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there are many ways to avoid default. (1) discharge petition - bill from committee to a vote. (2) Fourteenth Amendment Constitution prevents willful default until SCOTUS says otherwise. Just keep issuing debt. (3) High coupon and low principal. 10-year bond with $1 in principal and annual $100 coupon will increase debt ceiling almost 1000X. (4) high denominations coin minting
there are many ways to avoid default. (1) discharge petition - bill from committee to a vote. (2) Fourteenth Amendment Constitution prevents willful default until SCOTUS says otherwise. Just keep issuing debt. (3) High coupon and low principal. 10-year bond with $1 in principal and annual $100 coupon will increase debt ceiling almost 1000X. (4) high denominations coin minting
Far and away the most entertaining path. Who gets to carry the trillion dollar coin from the mint to the treasury? How many heist plots will be foiled? How many movies about said heist plots will be made? Will there be a elaborate motorcade that's ultimately a ruse while the coin is sent by USPS in a plain envelope?
Earlier quoted context omitted.
Both sides are the same is such a tired line.
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But I'd point out that one real difference lately is the whole stolen election thing and the related attempts to delegitimize the judicial system. That's some scary stuff. That's how democracies disappear.