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View Diary: Public debt of the United States shall not be questioned: the 14th Amendment and the debt ceiling (304 comments)

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  •  Not stated or implied in my comment (3+ / 0-)
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    blueoasis, Odysseus, chipoliwog

    Please re-read.

    When the bonds are redeemed, they have first position. To default is to breach the contract. Plain and simple.

    The assertion that there's not enough "cashflow" is exactly germane to my point.

    this is why the plutocracy is fighting so hard to take down SS: through their oil wars and unneeded tax breaks, they have created huge federal obligations that are still subordinate to the SS Treasury bonds.

    They want to skip out on their bills and let SS beneficiaries pick up the tab.

    This is a feature, not a bug, of the plutocrats's business/legislative model.

    Either you need to re-read, or you're deflecting. I'm trying to be courteous. Please don't test my patience.

    The "extreme wing" of the Democratic Party is the wing that is hell-bent on protecting the banks and credit card companies. ~ Kos

    by ozsea1 on Sun Dec 09, 2012 at 11:57:12 AM PST

    [ Parent ]

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