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View Diary: No Coin/14th Amendment Escape From Debt Ceiling Threat? (47 comments)

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  •  Moderate Dems like Joshua M. Marshall (5+ / 0-)

    are always looking for sophisticated and clever excuses for Dems to not use the power at their disposal to help the people.

    It's a risk. Is it better than the alternatives? Give the likely payoff, I'd say so.

    Government and laws are the agreement we all make to secure everyone's freedom.

    by Simplify on Tue Oct 08, 2013 at 02:46:15 AM PDT

    •  What's the "likely payoff," though? (0+ / 0-)
      Is it better than the alternatives? Give the likely payoff, I'd say so.
      If unilaterally-issued bonds would wreck the bond market—and I think Marshall makes a pretty convincing case that it would—how is that better than the alternative? Unless you think the potential inflationary spiral created by our having to sell a lot more bonds (and borrow a lot more money) to get the cash we need is a good thing.

      "When I give food to the poor, they call me a saint. When I ask why the poor have no food, they call me a communist." --Dom Helder Camara, archbishop of Recife

      by JamesGG on Tue Oct 08, 2013 at 05:26:35 AM PDT

      [ Parent ]

      •  Not convinced, especially given (0+ / 0-)

        the absurd things we've done 2008-onward to shore up the "confidence" of the Masters of the Universe.

        The payoff is destroying the phantom Sword of Damocles that is the "debt ceiling," once and for all.

        Government and laws are the agreement we all make to secure everyone's freedom.

        by Simplify on Tue Oct 08, 2013 at 08:45:54 AM PDT

        [ Parent ]

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