Skip to main content

View Diary: How will Obama avoid another debt ceiling fight with the House GOP? (79 comments)

Comment Preferences

  •  No, it's not (3+ / 0-)
    Recommended by:
    polecat, AmericanAnt, Scandalous One

    You don't go through the debt ceiling if you get 2 trillion dollars in free money.  The 14th amendment is not implicated, at all.

    The government can raise two money in two ways.  1) Issue debt.  This is subject to the debt ceiling.  2) Print money.  This is subject to Congressional approval, EXCEPT FOR the minting of platinum coins.  The President has clear constitutional authority to do the trillion dollar coin, and the diarist is wrong when he confuses the 14th amendment solution with the platinum coin solution.

    The debt ceiling conflicts with laws Congress has passed to spend that money, anyway.  The President should just ignore it, and say that if Congress didn't want to spend the money, it shouldn't have passed laws saying it should be spent.  Who would even have standing to sue?

    •  One word: Impeachment (1+ / 0-)
      Recommended by:
      VClib

      The House would impeach him just as quickly for minting the $1T coin as they would for trying some 14th Amendment scheme.

      Let's face it,...they have him in a box on the debt ceiling.  He is going to have to negotiate.  And, after he forced them to allow taxes to increase on somebody, they are goingt o demand a VERY large pound of flesh.  Maybe several pounds...

      And, for all of you who think Dems "won" just because this deal had no spending cuts, you're going to find out how big a pound of flesh really is.

      •  Impeach him for what? (1+ / 0-)
        Recommended by:
        Scandalous One

        What high crime or misdemeanor would it be to use his constitutional, statutory authority to mint two coins, to ensure that the United States pays its bills?  

        Even if he was impeached, so what?  The House can impeach him, but the trial would happen in the Democratically controlled Senate.  You think a Democratic Senate is going to convict a Democratic President?  

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site