• We’re currently investigating an issue related to the forum theme and styling that is impacting page layout and visual formatting. The problem has been identified, and we are actively working on a resolution. There is no impact to user data or functionality, this is strictly a front-end display issue. We’ll post an update once the fix has been deployed. Thanks for your patience while we get this sorted.

'Emergency' allows the Fed to bypass Debt Ceiling?

X

Xenon14

Platinum Member
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 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.
Click to expand...
Looks like you aren't allowed to question the validity of the debt... by constitutional amendment... making such speech illegal and unconstitutional.
 
Xenon14 said:
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.
Click to expand...

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.
 
Throckmorton said:
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.
Click to expand...

You really should come to terms with the 'two state' solution.
 
Schadenfroh said:
This is why we cannot compromise, not sure how much longer we can reconcile our differences.
Click to expand...

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.
 
a777pilot said:
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.
Click to expand...
The ballot box works just fine. You are getting exactly the government you voted for.




Also, you forgot the jury box.
 
a777pilot said:
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.
Click to expand...

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.
 
a777pilot said:
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.
Click to expand...

So you want to overthrow the government and kill liberals. :whiste: You're a smart one.
 
Xenon14 said:
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.
Click to expand...

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
 
Fern said:
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
Click to expand...

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?
 
Engineer said:
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?
Click to expand...

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
 
You must log in or register to reply here.

TRENDING THREADS

Back
Top