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View Diary: Bill Clinton knows what he's talking about ... sort of (36 comments)

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  •  What Congress has done, in fact, (1+ / 0-)
    Recommended by:
    elmo

    is mandated where money is to be spent and where it is to come from. On the money raising end, it is statutory that once monies are needed to sustain laws for spending, if more debt is needed, Congress must sustain it.

    This does not strike me as altogether unreasonable or unconstitutional. However, your point is persuasive as well.

    My point is that if you go this route. lenders have to take this sort of uncertainty into account.

    •  BBB (1+ / 0-)
      Recommended by:
      OLinda

      The following is from your own diary:

      Clinton said, “I think the Constitution is clear and I think this idea that the Congress gets to vote twice on whether to pay for [expenditures] it has appropriated is crazy.”

      Yeah, vote twice for laws that remain fully in effect. Ha!!!!!!!

      Do you trust Clinton's understanding of the law?

      If so, we're being Flim Flammed.  

      By the way, Gephardt nearly did away with this stupid requirement.  

      •  I remember the Gephardt rule. (2+ / 0-)
        Recommended by:
        Major Tom, princess k

        Yes, I think President Clinton's reasoning is persuasive, as I've said.

        But, it is bad for the bond market.

        •  BBB (0+ / 0-)

          Obama should announce his plans right up front that he will simply ignore this stupid and superfluous enactment.
          In that way, he'll cushion any blow to the markets. By then, he'd be an American hero, and the Republican Party would be greatly damaged and perceived as crazies.  

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