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View Diary: Breaking: Tea Party Rules Committee Denies Boehner Rule (142 comments)

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  •  No, but if he chooses minting the coin (0+ / 0-)

    that could provide other changes as well, that are good.

    And anyway, he already has the power to summarily execute anybody he decides is a danger to the interests of the United States, so that horse has kind of left the barn.

    I tried to go online to find a similar bear head...but when I searched “Big Bear Head” it gave me a San Diego craigslist ad entitled “Big Bear needs some quick head now” and then I just decided to never go on the internet again.--Jenny Lawson

    by SouthernLiberalinMD on Wed Oct 16, 2013 at 09:10:27 AM PDT

    [ Parent ]

    •  either the coin or the 14th amendment ... (0+ / 0-)

      ... would have severe problems.  Suppose that the President proposes to use either of these solutions to enable the government to borrow more money.  They "do the necessary", as my colleagues from India like to say, and hold an auction for T-bill purchases, like they always do. The Tea Party loudly announces that this is illegal, that they will sue, that the new T-bills are invalid.  The Obama administration disputes this, and pledges to legally defend the buyers.  Most buyers are spooked and decide to buy German or Japanese debt instruments instead, the remainder offer to take the risk and buy US debt, but demand a discount.  The administration either has to cancel the sale or accept that we are paying 8% or 10% on the debt instead of 1%, or even more.  Worse, many other interest rates are tied to government rates.  People with ARMs on their houses suddenly see huge increases in their monthly mortgage payments.

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