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View Diary: CW says that Republicans will eventually blink and pass a clean CR. What if CW is wrong? (60 comments)

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  •  Problem with that: (5+ / 0-)

    He has said before that he does not have the power to prevent default unilaterally. Thus he has already delegitimized any 14th Amendment solution he might take.

    Now, he might decide he was wrong and do what he has to do. But can you imagine what the impeachment talk will be like? It was bad enough when they didn't have anything to impeach him for. Just wait'll he exceeds his authority by his own standards (not even the standards of Senator Obama).

    Maybe that's his best contingency plan: Take executive action to nullify the debt limit. I'd be okay with it. He'd just better have a contingency plan besides “they can't actually be THAT crazy.” Playing chicken with Boehner is not a plan.

    Code Monkey like freedom / Code Monkey like peace and justice too
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    Formerly known as Jyrinx.

    by Code Monkey on Wed Oct 02, 2013 at 07:04:21 PM PDT

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    •  Would the Federal Reserve close? (1+ / 0-)
      Recommended by:
      Code Monkey

      If banks can't borrow overnight funds...........wow.

      "I freed a thousand slaves, I could have freed a thousand more if only they knew they were slaves" Harriet Tubman

      by BrianParker14 on Wed Oct 02, 2013 at 07:28:31 PM PDT

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      •  *shrug* Dunno. (0+ / 0-)

        I understand that there could be dire consequences just from letting T-bills falter, since they're generally considered safer than any cash. (CTTOI, they've been what goldbugs think gold is …) So there'd be a sudden panic in what's long been the world's safest investment.

        Code Monkey like freedom / Code Monkey like peace and justice too
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        Formerly known as Jyrinx.

        by Code Monkey on Wed Oct 02, 2013 at 07:40:41 PM PDT

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      •  Brian - the Fed does not receive any gov't funding (1+ / 0-)
        Recommended by:
        Code Monkey

        The Fed is independent and self funding. None of these actions are going to impact Fed operations.

        "let's talk about that"

        by VClib on Wed Oct 02, 2013 at 08:01:33 PM PDT

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    •  CM - I think the President and Treasury Sec (0+ / 0-)

      will take a small portion of the cash flow and pay the interest. The bonds can be rolled over with help from the Fed to create one-day transactions. I think paying the interest is  the least troublesome constitutionally. There will be no impeachment talk for averting default.

      "let's talk about that"

      by VClib on Wed Oct 02, 2013 at 08:06:05 PM PDT

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    •  So the rethugs in the house.......... (3+ / 0-)

      impeach; so what? They don't have 2/3rds of the Senate to get a conviction.  Just another self-inflicted wound to the GOP.

      In addition, it stands to reason that at some point the question of Presidential authority under the 14th amendment would have to end up before the SCOTUS. They are the arbitrators of whether on not the actions of the POTUS are constitutional; not BHO, the media, the Rethugs or Kossaks.

      However, the POTUS would have to act first; before a party would have standing to start the court proceedings.  Given that Roberts in the pocket of Wall Street and big business and a default would most likely be bad for business; we may be pleasantly surprised (as we were with the ACA) by how the SCOTUS would come down on the question.

      The mass of men lead lives of quiet desperation--HDT

      by cazcee on Wed Oct 02, 2013 at 08:33:55 PM PDT

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      •  If Obama is willing to face their wrath, (1+ / 0-)
        Recommended by:
        librarisingnsf

        I say he should absolutely risk impeachment hearings rather than default or give in.

        Still. Obama weakened his hand by disclaiming 14th Amendment authority. It won't look good if he turns around and exercises it anyway. And it'll look bad to sensible people, not just the Gohmerts of the world.

        Code Monkey like freedom / Code Monkey like peace and justice too
        Code Monkey very nerdy man / With big warm fuzzy bleeding heart
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        Formerly known as Jyrinx.

        by Code Monkey on Wed Oct 02, 2013 at 09:03:38 PM PDT

        [ Parent ]

    •  Has he also explicity delegitimized the "jumbo (1+ / 0-)
      Recommended by:
      Code Monkey

      coin" loophole as well?  Because that would be another way to do it that is permitted by the letter of the law even though it was never intended to be used that way.

      You have watched Faux News, now lose 2d10 SAN.

      by Throw The Bums Out on Thu Oct 03, 2013 at 12:07:55 AM PDT

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      •  I believe so, yeah. (1+ / 0-)
        Recommended by:
        Throw The Bums Out

        I doesn't actually have to be jumbo or any particular size, BTW … the President basically just has to wave his magic executive wand, and it has whatever value he wants to have.

        Code Monkey like freedom / Code Monkey like peace and justice too
        Code Monkey very nerdy man / With big warm fuzzy bleeding heart
        Code Monkey like you!

        Formerly known as Jyrinx.

        by Code Monkey on Thu Oct 03, 2013 at 12:32:30 AM PDT

        [ Parent ]

        •  Well the "jumbo" refers to the face value of the (0+ / 0-)

          coin, not it's physical size.  It's not quite as easy as waving a magic wand as the value (at least $1 trillion) has to be stamped on the coin itself but that is relatively easy to have them do.  So has Obama said anything about that option since it would be explicitly legal and thus harder to challenge than the 14th amendment option?

          You have watched Faux News, now lose 2d10 SAN.

          by Throw The Bums Out on Thu Oct 03, 2013 at 01:09:22 AM PDT

          [ Parent ]

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