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Old 01-08-2013, 09:20 AM   #1
dude1394
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Default Cool..maybe a 16 trillion dollar coin.

From the democrat daily we get...

"Enter the platinum coin. There’s a legal loophole allowing the Treasury to mint platinum coins in any denomination the secretary chooses. Yes, it was intended to allow commemorative collector’s items — but that’s not what the letter of the law says. And by minting a $1 trillion coin, then depositing it at the Fed, the Treasury could acquire enough cash to sidestep the debt ceiling — while doing no economic harm at all"

What could it hurt after all, it's a legal loophole and Obama already has cover from Pravda.
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Old 01-09-2013, 04:38 PM   #2
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It's no more outlandish than the fact that Congress has made two contradictory laws that force the executive branch to break one.

Congress - that includes a Republican-controlled House and a Democratic-controlled Senate - has told the executive branch through laws that it has to spend a certain amount of money. It legally cannot spend less (that's a Watergate-era statute). At the same time, Congress has refused to raise revenue sufficient to pay for the spending it has mandated. No future reductions in spending will change this fact.

Therefore, the Executive branch's only option is to issue treasury bonds to pay for the spending that it has to do - that is, borrow money (at negative real interests rates, of course). But Congress has also passed a law that puts a cap on the amount of outstanding debt the nation can accrue (the debt ceiling).

Therefore, the executive must break one of these laws. If he spends the money he's legally required to spend, he breaks the debt ceiling. If he doesn't, he breaks the mandated spending law.

I would prefer it if the president ignored the debt ceiling - it makes absolutely no sense, it doesn't limit spending at all, because of course Congress controls the purse strings. The president has little options other than to ignore one of the laws described above. Considering the 14th amendment (the debt shall not be questioned), the debt ceiling seems the obvious one to ignore.

Or you could use a legal loophole that keeps anyone from breaking any laws. Platinum coin seigniorage is a ridiculous idea, but it's not more ridiculous than holding the nation's credit hostage because Republicans are sociopaths who get giddy at seeing people suffer.
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Old 01-11-2013, 09:04 AM   #3
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It's good that you've been regurgitating your democrat talking points so well. It's a shame that here actually be some restriction on spending by this government.

Yes reducing the rate of spending is the act of a sociopath. Well done Pravda.
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Old 01-11-2013, 09:40 AM   #4
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It's good that you've been regurgitating your democrat talking points so well. It's a shame that here actually be some restriction on spending by this government.

Yes reducing the rate of spending is the act of a sociopath. Well done Pravda.
Quote:
These are the two Paul Ryans.

There's "Pragmatic Paul," the compromiser, who on Tuesday voted against most of his GOP House colleagues and with President Obama to raise taxes on wealthy Americans and, on paper at least, add $4 trillion to the national debt.

And there's the uncompromising budget hawk who opposed a bill that allows the National Flood Insurance Program (NFIP) to take on $9.7 billion in new debt to help people and businesses devastated by superstorm Sandy.
Here's the actual bill he opposed.

Quote:
SECTION 1. TEMPORARY INCREASE IN BORROWING AUTHORITY FOR NATIONAL FLOOD INSURANCE PROGRAM.

(a) Section 1309(a) of the National Flood Insurance Act of 1968 (42 U.S.C. 4016(a)) is amended by striking ‘$20,725,000,000’ and inserting ‘$30,425,000,000’.

(b) The amount provided by this section is designated by the Congress as an emergency requirement pursuant to section 403(a) of S. Con. Res. 13 (111th Congress), the concurrent resolution on the budget for fiscal year 2010, and as an emergency pursuant to section 4(g) of the Statutory Pay-As-You-Go Act of 2010 (2 U.S.C. 933(g)).

Speaker of the House of Representatives.

Vice President of the United States and

President of the Senate.
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Old 01-11-2013, 07:59 PM   #5
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It's good that you've been regurgitating your democrat talking points so well. It's a shame that here actually be some restriction on spending by this government.

Yes reducing the rate of spending is the act of a sociopath. Well done Pravda.
Way to prove me wrong there, dude. You really showed me that you know how to honestly engage with what other people have to say.
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Old 01-11-2013, 09:25 PM   #6
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Way to prove me wrong there, dude. You really showed me that you know how to honestly engage with what other people have to say.
Stupidity does not deserve anything but ridicule.
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Old 01-11-2013, 11:32 PM   #7
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Stupidity does not deserve anything but ridicule.
So you have nothing to say. Gotcha.

Also, look up the phrase "talking point." I don't think it means what you think it means.
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Old 01-12-2013, 02:15 AM   #8
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I think I do.

"Or you could use a legal loophole that keeps anyone from breaking any laws. Platinum coin seigniorage is a ridiculous idea, but it's not more ridiculous than holding the nation's credit hostage because Republicans are sociopaths who get giddy at seeing people suffer."
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Old 01-13-2013, 09:23 AM   #9
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Obviously psychopaths, right.

"On March 16, 2006, the Senate held a vote on a measure to raise the debt ceiling by $781 billion — the fourth such vote of George W. Bush’s presidency. Republicans controlled the Senate, and Democrats spent much of the debate railing against Bush’s spending. “When it comes to deficits, this president owns all the records,” said Reid. “The three largest deficits in our nation’s history have all occurred under this administration’s watch.”

Declaring themselves outraged by such spending, Reid, Durbin, Schumer, and Murray all voted against raising the debt limit. So did every other Democrat — including Sen. Barack Obama. But on Friday, the four lawmakers urged now-President Obama not only to raise the ceiling but to do it in a constitutionally risky fashion by going over the head of Congress."
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Old 01-13-2013, 04:45 PM   #10
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That you don't see the difference here is astounding, but not really all that surprising.

Did Democrats in the Senate in 2006 filibuster it? Demand unrelated policy concessions? No. A clean vote was given and the ceiling was raised. It's on the majority party to do so. Boehner won't offer a clean vote, though. He demands stuff he can't get in negotiation.

That Republicans are a majority party in the 113th Congress is, of course, an aberration, considering they were outvoted by the American people last November in Congressional races. They may be uniformly awful at governing, but hot damn if they're not great at gerrymandering their way into permanent majorities.

Nobody finds your Pravda shtick funny, by the way. You sound like the John Birch Society. And it's sociopath, not psychopath.

Also, don't quote from things without providing a link.
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Old 01-13-2013, 09:33 PM   #11
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You don't understand what the platinum coin does. It doesn't pay down the debt. It just pays our current financial obligations.

So if you deposited a 16 trillion dollar coin in the fed that wouldn't lower our debt one iota.

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Stupidity does not deserve anything but ridicule.
funny you call someone else stupid when it is pretty clear you don't have a clue what you are talking about.

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Old 01-14-2013, 07:58 PM   #12
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Obviously psychopaths, right.

"On March 16, 2006, the Senate held a vote on a measure to raise the debt ceiling by $781 billion — the fourth such vote of George W. Bush’s presidency. Republicans controlled the Senate, and Democrats spent much of the debate railing against Bush’s spending. “When it comes to deficits, this president owns all the records,” said Reid. “The three largest deficits in our nation’s history have all occurred under this administration’s watch.”

Declaring themselves outraged by such spending, Reid, Durbin, Schumer, and Murray all voted against raising the debt limit. So did every other Democrat — including Sen. Barack Obama. But on Friday, the four lawmakers urged now-President Obama not only to raise the ceiling but to do it in a constitutionally risky fashion by going over the head of Congress."
That was a protest vote. None of the Senators you mentioned, including Obama tried to filibuster the bill. They voted against it precisely because the knew it was going to pass and did not lift one finger to try to filibuster the bill. So I have absolutely no problem if Republican Senators do what Obama did: not filibuster the bill then vote against it once it gets to the floor for a final vote.

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Old 01-17-2013, 04:07 PM   #13
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Or you could use a legal loophole that keeps anyone from breaking any laws. Platinum coin seigniorage is a ridiculous idea, but it's not more ridiculous than holding the nation's credit hostage because Republicans are sociopaths who get giddy at seeing people suffer.
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That you don't see the difference here is astounding, but not really all that surprising.

Did Democrats in the Senate in 2006 filibuster it? Demand unrelated policy concessions? No. A clean vote was given and the ceiling was raised. It's on the majority party to do so. Boehner won't offer a clean vote, though. He demands stuff he can't get in negotiation.
Agreed 100%. When the republicans do it they are dirty but when democrats do it there obviously has to be a rational, sensible reason. Republicans just want to starve the poor and burn down every national monument that doesn't have the word God on it. And democrats are pure saints and angels. Lucky we have this party looking out for us to protect us from the big bad republican evil machine!
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Old 01-17-2013, 09:30 PM   #14
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Agreed 100%. When the republicans do it they are dirty but when democrats do it there obviously has to be a rational, sensible reason. Republicans just want to starve the poor and burn down every national monument that doesn't have the word God on it. And democrats are pure saints and angels. Lucky we have this party looking out for us to protect us from the big bad republican evil machine!
Dems didn't filibuster it in 2006. They allowed it to pass. If Republicans do the same thing I would have no problem with that.

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Old 01-17-2013, 10:22 PM   #15
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Dems didn't filibuster it in 2006. They allowed it to pass. If Republicans do the same thing I would have no problem with that.
So if the house votes in mass like the senate did, they won't be sociopaths? I'm sure Pravda will not spin it the same way.

And since when is spending every penny in the budget sacrosanct? The treasury will not default, the only thing that would happen is the government would not spend money allocated.

Since when is not spending 1% of the federal budget destroying the world economy? It's ridiculous and only liberals and their minions would call it a crisis.

Just recently Obama got his 620billion in new taxes over 10 years passed. That's about 60billion per year. What does congress begin to do in less than a week,, SPEND 60 billion on sandy relief.

This government has no control of itself. I hope the republicans refuse the debt increase AND allow the sequester cuts to occur.

We are seriously out of control.

As far as the other comments in this thread. The nytimes is just as bad as Pravda, they cannot be trusted to not slant every story towards their party and to hide things that hurt their party.

And sure I know that the stupid 1 trillion dollar coin doesn't increase the debt.

With respect to not providing links that are common knowledge, blow it out your ear.
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