'Emergency' allows the Fed to bypass Debt Ceiling?

[Xenon14]

Came across an interesting post here.

The gist: In New York City alone, every month people (seniors/disabled) depend on $1 billion in payments from the Federal Government. Based on precedent, it seems that under 'emergency' situations, the Fed may be buying securities from someone other than the U.S. Treasury in order to provide liquidity. It seems that no matter what we'll just be printing and printing more and more.

 

[Lithium381]

checks and balances!!!

 

[JSt0rm]

Well we cant let gop terrorists destroy the country. This would count as an emergency.

 

[Dr. Zaus]

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.

Looks like you aren't allowed to question the validity of the debt... by constitutional amendment... making such speech illegal and unconstitutional.

 

[Throckmorton]

Came across an interesting post here.

The gist: In New York City alone, every month people (seniors/disabled) depend on $1 billion in payments from the Federal Government. Based on precedent, it seems that under 'emergency' situations, the Fed may be buying securities from someone other than the U.S. Treasury in order to provide liquidity. It seems that no matter what we'll just be printing and printing more and more.

The amazing thing is that the Tea Party and Fox News have actually convinced conservatives that not raising the debt limit is actually an option, and even desirable...

We are fucked if this many Americans are this gullible.

 

[soccerballtux]

checks and balances!!!

not sure if this is a joke but haha clever! writing checks, balancing the account, lol!!!

 

[Jaskalas]

The amazing thing is that the Tea Party and Fox News have actually convinced conservatives that not raising the debt limit is actually an option, and even desirable...

We are fucked if this many Americans are this gullible.

You really should come to terms with the 'two state' solution.

 

[a777pilot]

Obama wanted to destroy American as we knew it and he is getting the job done.

 

[Schadenfroh]

let gop terrorists destroy the country

Obama wanted to destroy America

This is why we cannot compromise, not sure how much longer we can reconcile our differences.

 

[HeXen]

Obama wanted to destroy American as we knew it and he is getting the job done.

you listen to too much Rush

 

[a777pilot]

you listen to too much Rush

I don't listen to Rush at all. I found him tedious years ago and stopped listening.

I don't listen to this Beck guy either.

Unlike Liberals I really don't need others to tell me how and what to think.

 

[IronWing]

Unlike Liberals I really don't need others to tell me how and what to think.

I can't argue with you on that one. You have never demonstrated any mastery of the skill.

 

[a777pilot]

This is why we cannot compromise, not sure how much longer we can reconcile our differences.

We can't.

I say let's end this current government and take it to the streets.

The soap box didn't work.

The ballot box has failed us.

What remains, is the ammo box.



Hey, Liberals......Check six.

 

[IronWing]

We can't.

I say let's end this current government and take it to the streets.

The soap box didn't work.

The ballot box has failed us.

What remains, is the ammo box.



Hey, Liberals......Check six.

The ballot box works just fine. You are getting exactly the government you voted for.




Also, you forgot the jury box.

 

[robphelan]

Obama wanted to destroy American as we knew it and he is getting the job done.

Sooooo..... can you explain, exactly, why Obama is at fault here in the debit crisis?

 

[Jaskalas]

Sooooo..... can you explain, exactly, why Obama is at fault here in the debit crisis?

He hasn't bent over.

 

[GuitarDaddy]

He hasn't bent over.

If he bent over any more he would break. He presented his ass and handed the GOP the lube and they wont take it

 

[MovingTarget]

We can't.

I say let's end this current government and take it to the streets.

The soap box didn't work.

The ballot box has failed us.

What remains, is the ammo box.



Hey, Liberals......Check six.

I thought that we refrained from such references after what happened to Congresswoman Giffords...

The reason that the soap box and ballot box didn't work for you is because the teabaggers and neocons are flat out wrong. Rational people are starting to wake up and call them out on their bullshit. Democracy is working just fine, despite having to deal with the idiots that were elected in '10.

 

[Icepick]

Obama wanted to destroy American as we knew it and he is getting the job done.

LOL. You do it just for the lulz don't you?

 

[MovingTarget]

Sooooo..... can you explain, exactly, why Obama is at fault here in the debit crisis?

Obama didn't do squat to cause this crisis. All he did was apply a tourniquet to the American economy, yet Republicans seem to want to place blame on Obama because it might lose a leg instead of completely croak. This sums it up:

http://img843.imageshack.us/img843/5055/bushtoobama.jpg

 

[JSt0rm]

We can't.

I say let's end this current government and take it to the streets.

The soap box didn't work.

The ballot box has failed us.

What remains, is the ammo box.



Hey, Liberals......Check six.

So you want to overthrow the government and kill liberals. :whiste: You're a smart one.

 

[hal2kilo]

So you want to overthrow the government and kill liberals. :whiste: You're a smart one.

This is more than one thread where he's made the same threat.

 

[Fern]

Came across an interesting post here.

The gist: In New York City alone, every month people (seniors/disabled) depend on $1 billion in payments from the Federal Government. Based on precedent, it seems that under 'emergency' situations, the Fed may be buying securities from someone other than the U.S. Treasury in order to provide liquidity. It seems that no matter what we'll just be printing and printing more and more.

Seems unnecessary to me.

Social Security retirement and disability have plenty of money (a $2.6 trillion surplus) and I don't see any reason why those checks wouldn't go out.

SS is not part of the General Fund, and SS money must only be used for SS purposes, such as retirement and disability.

Fern

 

[Engineer]

Seems unnecessary to me.

Social Security retirement and disability have plenty of money (a $2.6 trillion surplus) and I don't see any reason why those checks wouldn't go out.

SS is not part of the General Fund, and SS money must only be used for SS purposes, such as retirement and disability.

Fern

But since it's been loaned out to the rest of government, the rest of government must now either fund with incoming tax receipts or borrow the money to replenish the SS fund to make the payments, no? If they cannot come up with enough money to repay the fund for the current payments, then what? Check go bouncy, bouncy?

 

[Fern]

But since it's been loaned out to the rest of government, the rest of government must now either fund with incoming tax receipts or borrow the money to replenish the SS fund to make the payments, no? If they cannot come up with enough money to repay the fund for the current payments, then what? Check go bouncy, bouncy?

SS receipts monthly are +90% of what is needed.

Elsewhere, I've demonstrated/explained how the special SS T-Bonds can be rolled over (refinanced) into regular Treasuries thereby both (1) providing cash to the SS fund and (2) not increasing the overall federal debt.

Fern