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View Diary: The debt ceiling dance and the trillion dollar coin (218 comments)

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  •  why not both? (3+ / 0-)
    Recommended by:
    drnononono, StrayCat, dark daze

    14th only covers our debt payments

    the coin would then cover payments of everything else

    •  PS do 14th+ coin + emergency powers act + (4+ / 0-)

      14th to pay debt

      coin to pay everything else through 2013

      emergency powers act to lower and freeze gas and oil prices ....the emergency powers act specifically and has been used to control costs of certain things during emergencies

      submit 400 bill a year set of cuts from millitary, tax loophole stuff with 200 bill of savings going to jobs billish thing.....................submit to congress every week up to elections with repubs voting down in house and or filibustering in senate every single week

      all 4 things at once all together

      •  agree (2+ / 0-)
        Recommended by:
        DEMonrat ankle biter, WheninRome

        but that would take leadership,  something this country is so sorely lacking.

        Bad is never good until worse happens

        by dark daze on Sun Jul 31, 2011 at 08:33:30 AM PDT

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      •  But Obama doesn't WANT to save the social (4+ / 0-)

        safety net.  A bit of a problem with this scenario.

        That's understandable when I realize that I can't feel my body.

        by prodigal on Sun Jul 31, 2011 at 08:39:22 AM PDT

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        •  Bullshit (0+ / 0-)

          He could have done deeper cuts months ago if he wanted.  And please explain how you can afford a social safety net on the Peso, which is what the Dollar would start to resemble if we devalue by 13% to raise the debt ceiling by $2T.

          "This world demands the qualities of youth: not a time of life but a state of mind[.]" -- Robert F. Kennedy

          by Loge on Sun Jul 31, 2011 at 09:15:30 AM PDT

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          •  He can't get cuts like this through Congress (0+ / 0-)

            without Shock Doctrine tactics.  That is why he created the Debt Commission.  Meet in secret with a few people who share your point of view, with a few exceptions for window-dressing.  Come up with a plan to preserve the wealth of the upper brackets at the expense of the middle class and the poor, and ram it through during a manufactured crisis.  Simpson-Bowles couldn't quite make it over the finish line, so now we have this.  But the objective is clear, and has been from January 2009 when he first started bleating about a grand bargain and cutting entitlements.

      •  What are "emergency powers"? (0+ / 0-)

        The only place the word "extraordinary" appears in article ii of the constitution is where the president can call a joint session of congress.  Budgetary policy belongs to congress, which is why we're in this mess.  Inflationary gimmicks won't help and don't give the President any more leverage over the GOP.  

        The best bet is to say we're out of time, pass a clean debt ceiling bill, and we will keep negotiating.  Everyone can then point the finger at everyone else going into the election, which is what they really want.  

        "This world demands the qualities of youth: not a time of life but a state of mind[.]" -- Robert F. Kennedy

        by Loge on Sun Jul 31, 2011 at 09:12:27 AM PDT

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        •  National Emergency powers act is ur (0+ / 0-)


          •  Not open ended (0+ / 0-)

            Section 1631 states:  When the President declares a national emergency, no powers or authorities made available by statute for use in the event of an emergency shall be exercised unless and until the President specifies the provisions of law under which he proposes that he, or other officers will act.

            It's not a delegation of policymaking, but rather administrative in nature.

            What's more, you'd have to interpret national emergency in context with other statutes.  For economic emergencies, the International Emergency Economic Powers Act requires the threat to originate from abroad.

            Congress not doing its job permits the president to do no more than to keep them in session until they do.  

            "This world demands the qualities of youth: not a time of life but a state of mind[.]" -- Robert F. Kennedy

            by Loge on Sun Jul 31, 2011 at 09:47:29 AM PDT

            [ Parent ]

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