Will the U.S. default? Or worse?

[OKTexas]

No, I have a lot of faith in the power of EO. I truly believe he will issue one directing the Treasury to do something he has no power to do. Then what?

Considering he's impeachment proof, most likely nothing. If conservatives let him get away with it without taking to the streets and closing shit down like the Travon protesters did, well then it's on us also. It's time to use their own tacitcs against them.

He could be impeached, although that would be tough. But the Senate will never vote to remove him. That pretty much takes away any check on his authority.

It takes a super-majority in the house to impeach, the commies will never vote for it. If by some miracle they did the senate would never convict.

 

[Sunshine]

It's more complex than that. It would require issuing additonal debt. He cannot do that unilaterally. That must originate with teh House. So if he does, then what?

Yo' failure of faith in the power of the Executive Order somehow underwhelms.

No, I have a lot of faith in the power of EO. I truly believe he will issue one directing the Treasury to do something he has no power to do. Then what?

No, it is NOT on us. I am old and sick and unable to 'take to the streets.' That doesn't mean any of this shit is my fault. All I get from the government is a pension and social security. I worked the pension off and paid into social security for the government to raid and ruin it over the last 50 years. I did nothing to cause this shit. The fact that I live and breathe is does not make me an accomplice in any of it.

 

[OKTexas]

Considering he's impeachment proof, most likely nothing. If conservatives let him get away with it without taking to the streets and closing shit down like the Travon protesters did, well then it's on us also. It's time to use their own tacitcs against them.

He could be impeached, although that would be tough. But the Senate will never vote to remove him. That pretty much takes away any check on his authority.

republicans may control the senate after nov 2014---------------------

But it's doubtful they'll have a super-majority in either house of congress, that is required for impeachment.

 

[KissMy]

The United States defaulted on some Treasury bills in April 1979 we paid a steep price for stiffing bondholders, because the interest rates doubled. They went from 8% to 16% & it took 8 long years before rates came back down to 8%. This would destroy the US economy if it happened today. Yet we now are intentionally going to default. Bondholders will certainly be more pissed about that than they were for the mistake in 1979.

Treasury blamed it on the failure of Congress to act in a timely fashion on the debt ceiling legislation in April 1979. The bond holders had to join a class action lawsuit & sue the Federal Government to get the rest of their money.

 

[The Rabbi]

The United States defaulted on some Treasury bills in April 1979 we paid a steep price for stiffing bondholders, because the interest rates doubled. They went from 8% to 16% & it took 8 long years before rates came back down to 8%. This would destroy the US economy if it happened today. Yet we now are intentionally going to default. Bondholders will certainly be more pissed about that than they were for the mistake in 1979.

Treasury blamed it on the failure of Congress to act in a timely fashion on the debt ceiling legislation in April 1979. The bond holders had to join a class action lawsuit & sue the Federal Government to get the rest of their money.

There was a lot more going on than a default. Inflation was running out of control.

 

[KissMy]

Just playing chicken with default has already caused the 1 month T-Bill rate to triple. This spike in the front month is just a small signal of what is coming if they keep this up.

 

[Politico]

But it's doubtful they'll have a super-majority in either house of congress, that is required for impeachment.

No one is getting impeached. But not having a super majority has always resulted in a beautiful silence. Ahh memories.

 

[KissMy]

Demrats think it is a crisis to just decrease the increase in spending....

Spending is really decreasing. Not just the B.S. decreasing the increase.

 

[billyerock1991]

What happens?

Obama turns on the printing presses.

Again.

It's more complex than that. It would require issuing additonal debt. He cannot do that unilaterally. That must originate with teh House. So if he does, then what?

Obama has shown clearly he will chose the course of action that inflicts the most pain and then blame it on the Republicans

chose ??? really !!!!