Ricofoley Posted May 3, 2023 Share Posted May 3, 2023 Quote A standoff between House Republicans and President Biden over raising the nation’s borrowing limit has administration officials debating what to do if the government runs out of cash to pay its bills, including one option that previous administrations had deemed unthinkable. That option is effectively a constitutional challenge to the debt limit. Under the theory, the government would be required by the 14th Amendment to continue issuing new debt to pay bondholders, Social Security recipients, government employees and others, even if Congress fails to lift the limit before the so-called X-date. That theory rests on the 14th Amendment clause stating that “the validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.” Some legal scholars contend that language overrides the statutory borrowing limit, which currently caps federal debt at $31.4 trillion and requires congressional approval to raise or lift. Top economic and legal officials at the White House, the Treasury Department and the Justice Department have made that theory a subject of intense and unresolved debate in recent months, according to several people familiar with the discussions. Is the Debt Limit Constitutional? Biden Aides Are Debating It. - The New York Times WWW.NYTIMES.COM As the government heads toward a possible default on its debt as soon as next month, officials are entertaining a legal theory that previous administrations ruled out. It took them long enough to realize that this was the route they were going to have to go. They're coming a little late to the game with this with a month to go until the limit is breached. 1 1 Quote Link to comment Share on other sites More sharing options...
Jason Posted May 3, 2023 Share Posted May 3, 2023 Just now, Ricofoley said: It took them long enough to realize that this was the route they were going to have to go. They're coming a little late to the game with this with a month to go until the limit is breached. I've seen a compelling argument that doing this at the last minute looks a lot worse for the US than doing it well in advance with no fanfare and then just moving on like it's nbd. 1 Quote Link to comment Share on other sites More sharing options...
Jwheel86 Posted May 3, 2023 Share Posted May 3, 2023 I'm all for it, but McCarthy's only counter move will be impeachment. Quote Link to comment Share on other sites More sharing options...
Spork3245 Posted May 3, 2023 Share Posted May 3, 2023 Just now, Jwheel86 said: I'm all for it, but McCarthy's only counter move will be impeachment. These are the best results my AI Image Generator could come up with: Quote Link to comment Share on other sites More sharing options...
Remarkableriots Posted May 5, 2023 Share Posted May 5, 2023 A $1 trillion platinum coin could save the US from economic catastrophe in less than a month. It would be fast, legal, and no bigger than a regular coin. WWW.GOOGLE.COM The US is rapidly hurtling toward a catastrophic debt ceiling default. A trillion-dollar coin the size of a quarter could stop it. Quote Link to comment Share on other sites More sharing options...
marioandsonic Posted May 5, 2023 Share Posted May 5, 2023 Good. Get rid of this. I feel like we have this debate every year. Quote Link to comment Share on other sites More sharing options...
mrbiggsly Posted May 5, 2023 Share Posted May 5, 2023 They could have gotten rid of it a couple years ago but didn't. Everyone likes the gamesmanship 1 Quote Link to comment Share on other sites More sharing options...
Kal-El814 Posted May 5, 2023 Share Posted May 5, 2023 22 minutes ago, Remarkableriots said: A $1 trillion platinum coin could save the US from economic catastrophe in less than a month. It would be fast, legal, and no bigger than a regular coin. WWW.GOOGLE.COM The US is rapidly hurtling toward a catastrophic debt ceiling default. A trillion-dollar coin the size of a quarter could stop it. 1 Quote Link to comment Share on other sites More sharing options...
Ricofoley Posted May 10, 2023 Author Share Posted May 10, 2023 Lawsuit filed against Treasury Secretary Janet Yellen challenging debt limit law as congressional standoff threatens default WWW.CBSNEWS.COM A union representing federal employees is calling the law governing the debt limit unconstitutional in a new lawsuit. Worth a shot I guess 1 Quote Link to comment Share on other sites More sharing options...
TUFKAK Posted May 10, 2023 Share Posted May 10, 2023 Listen if you Americans can get your shit together we’d appreciate it Quote Link to comment Share on other sites More sharing options...
Ricofoley Posted May 10, 2023 Author Share Posted May 10, 2023 16 minutes ago, TUFKAK said: Listen if you Americans can get your shit together we’d appreciate it 2 Quote Link to comment Share on other sites More sharing options...
Jason Posted May 10, 2023 Share Posted May 10, 2023 1 hour ago, TUFKAK said: Listen if you Americans can get your shit together we’d appreciate it acting like he ain't one of us 1 Quote Link to comment Share on other sites More sharing options...
TUFKAK Posted May 10, 2023 Share Posted May 10, 2023 14 minutes ago, Jason said: acting like he ain't one of us I’m claiming my Greek resident status for the duration of this nonsense 1 Quote Link to comment Share on other sites More sharing options...
Jason Posted May 10, 2023 Share Posted May 10, 2023 Just now, TUFKAK said: I’m claiming my Greek resident status for the duration of this nonsense Global taxation as an American citizen doe. Quote Link to comment Share on other sites More sharing options...
TUFKAK Posted May 10, 2023 Share Posted May 10, 2023 3 minutes ago, Jason said: Global taxation as an American citizen doe. Doesn’t matter had Greek? Quote Link to comment Share on other sites More sharing options...
Jason Posted May 10, 2023 Share Posted May 10, 2023 17 minutes ago, TUFKAK said: Doesn’t matter had Greek? Greek tax evasion or a nice fattening Greek meal? Quote Link to comment Share on other sites More sharing options...
TUFKAK Posted May 10, 2023 Share Posted May 10, 2023 1 minute ago, Jason said: Greek tax evasion or a nice fattening Greek meal? Butt stuff Quote Link to comment Share on other sites More sharing options...
Jason Posted May 10, 2023 Share Posted May 10, 2023 3 minutes ago, TUFKAK said: Butt stuff In the traditional ancient Greek manner? Quote Link to comment Share on other sites More sharing options...
TUFKAK Posted May 10, 2023 Share Posted May 10, 2023 6 minutes ago, Jason said: In the traditional ancient Greek manner? It’ll the traditional involves a reach around then yes that Quote Link to comment Share on other sites More sharing options...
Nokra Posted May 10, 2023 Share Posted May 10, 2023 Geez, get a room you two. Quote Link to comment Share on other sites More sharing options...
Jason Posted May 10, 2023 Share Posted May 10, 2023 Just now, Nokra said: Geez, get a room you two. Quote Link to comment Share on other sites More sharing options...
TUFKAK Posted May 10, 2023 Share Posted May 10, 2023 Just now, Nokra said: Geez, get a room you two. Don’t kink shame me Quote Link to comment Share on other sites More sharing options...
Jason Posted May 10, 2023 Share Posted May 10, 2023 9 minutes ago, TUFKAK said: Don’t kink shame me Bro don't kink shame him Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted May 10, 2023 Share Posted May 10, 2023 6 hours ago, Jason said: Global taxation as an American citizen doe. You don't pay taxes on the first 100k Quote Link to comment Share on other sites More sharing options...
Remarkableriots Posted May 16, 2023 Share Posted May 16, 2023 Social Security advocates brace for U.S. debt default with payments to beneficiaries at stake WWW.GOOGLE.COM Social Security recipients could face interruptions in their payments, and need to be prepared, one expert said, but many have little flexibility to stave off financial crisis by themselves. Quote Link to comment Share on other sites More sharing options...
Jason Posted May 16, 2023 Share Posted May 16, 2023 On 5/10/2023 at 4:29 AM, SuperSpreader said: You don't pay taxes on the first 100k There's a lot of headaches about differences in what's taxable. And it can be very expensive to find someone who can handle your taxes depending on what country you're living in. And basically no other countries makes its citizens file if you're not living there. Quote Link to comment Share on other sites More sharing options...
Jwheel86 Posted May 16, 2023 Share Posted May 16, 2023 50 minutes ago, Remarkableriots said: Social Security advocates brace for U.S. debt default with payments to beneficiaries at stake WWW.GOOGLE.COM Social Security recipients could face interruptions in their payments, and need to be prepared, one expert said, but many have little flexibility to stave off financial crisis by themselves. Given how much of state and local government is funded by the feds, I don't think people fully appreciate how bad it could get. 1 1 Quote Link to comment Share on other sites More sharing options...
legend Posted May 16, 2023 Share Posted May 16, 2023 On 5/10/2023 at 1:11 AM, TUFKAK said: I’m claiming my Greek resident status for the duration of this nonsense Greece is who you're going with for the political high road? Quote Link to comment Share on other sites More sharing options...
TUFKAK Posted May 16, 2023 Share Posted May 16, 2023 17 minutes ago, legend said: Greece is who you're going with for the political high road? They’re not threatening the global order so, yeah. Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted May 16, 2023 Share Posted May 16, 2023 22 minutes ago, legend said: Greece is who you're going with for the political high road? Greece’s Economy Moving from Junk Bond Status to Investment Grade WWW.THENATIONALHERALD.COM ATHENS - Greece's once-battered economy, which required three international bailouts totaling €326 billion ($354.81 billion), and was on the verge of being expelled from the Eurozone, has made a significant... 2 Quote Link to comment Share on other sites More sharing options...
Signifyin(g)Monkey Posted May 16, 2023 Share Posted May 16, 2023 On 5/5/2023 at 2:34 PM, marioandsonic said: Good. Get rid of this. I feel like we have this debate every year. With a strange hiatus from 2016-2020. Quote Link to comment Share on other sites More sharing options...
Jwheel86 Posted May 16, 2023 Share Posted May 16, 2023 Opinion: Medicaid work requirements are a terrible idea | CNN WWW.CNN.COM House Republicans voted last month to rip away health coverage from hundreds of thousands of people when they voted to impose work requirements as a condition of eligibility for Medicaid, writes disability advocate Mia Ives-Rublee. She says that if the measure – which is part of the roiling national debt ceiling debate – becomes law, an estimated 600,000 people would lose coverage. One of the brain dead things the GOP is demanding. It's so bad it's actually a work disincentive for people like me since simply getting a doctor to say I can't work is way easier than whatever half baked reporting system they implement. It also massively incentivizes fucking Guardianship to get the parental caregiver exception, Guardianship is something the disability community has been trying to scale back (public schools have a bad track record pushing Guardianship on transitioning disabled youth). NC is about to put it into law that Judges have to prove alternatives don't work before granting Guardianship. Quote Link to comment Share on other sites More sharing options...
Jason Posted May 19, 2023 Share Posted May 19, 2023 Republicans walk out of debt ceiling talks, say White House isn't being 'reasonable' https://www.cnbc.com/2023/05/19/debt-ceiling-republicans-pause-negotiations-with-white-house.html Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted May 19, 2023 Share Posted May 19, 2023 35 minutes ago, Jason said: Republicans walk out of debt ceiling talks, say White House isn't being 'reasonable' https://www.cnbc.com/2023/05/19/debt-ceiling-republicans-pause-negotiations-with-white-house.html They walked back in about an hour or so ago. 1 Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted May 20, 2023 Share Posted May 20, 2023 1 hour ago, Commissar SFLUFAN said: They walked back in about an hour or so ago. Biiitches Quote Link to comment Share on other sites More sharing options...
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