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  • O3 commented on the blog post Obama’s Debt Ceiling Veto Threat Has a Credibility Problem

    2011-07-12 16:14:44View | Delete

    I’m no fan of Obama’s, but perhaps this veto threat is just reverse psychology and he WANTS them to offer a short term that he would in fact sign… just sayin’…

    I think it’s time to stop making excuses.

    Just sayin’.

  • O3 commented on the blog post Obama’s Debt Ceiling Veto Threat Has a Credibility Problem

    2011-07-12 14:27:13View | Delete

    The administration doesn’t have a Plan B, like invoking the 14th Amendment, to get around the debt ceiling limit if Congress doesn’t act.

    If the Administration were really serious about making the Republicans back down the 14th Amendment would be Plan A. It isn’t, so they aren’t.

  • O3 commented on the diary post You’ve lost, you just don’t know it by Bin Quick.

    2011-07-12 13:46:10View | Delete

    The disgusting fact is Obama and Democrats have a checkmate move also. All Obama has to do is

    Invoke the 14th Amendment. If he doesn’t, this is all a charade.

  • Obama isn’t remotely serious about confronting the Republicans unless he declares his willingness to enforce the 14th Amendment.

    You know, that meaningless bit of scribble written on that scrap of paper called the Constitution that he swore to uphold?

  • In the end, O may well have to resort to the 14th amendment with his tail between his legs.

    Had Obama really wanted to prevail in a showdown with the Republicans, the 14th Amendment would have been front and center from the start. Just as with the healthcare bill, the Democrats have deliberately thrown away their trump card, (two trump cards in that case, reconciliation and “the nuclear option”) right at the outset, before the media (and, they hope, their constituents) have begun to pay attention, then once the “battle” gets in to full swing they “give it their all” but still tragically “fail” to protect the public from the depredations of the evil Republicans.

    It’s much like the old metal-bending conjuring trick, where the conjeror bends a door key, frinstance, very early on in the performance, well before the mark has started watching out for “funny business”, and he deftly conceals the fact that it’s already bent until he, with great fanfare (and with the mark’s full attention) “magically” causes the key to bend, leaving the mark (who thinks he saw everything) at a total loss to account for what he witnessed.

  • The moneyed interests will not tolerate a default.

    The Republicans will not vote for tax increases.

    The Democrats, staring political oblivion right in the face, cannot vote for entitlement cuts.

    O is all alone, with nowhere to go from here.

    14th Amendment.
    14th Amendment.
    14th Amendment.
    14th Amendment.

    That’s the way out.

    That always was the way out.

    We know it, and they know it.

    If we want to stop this, we need bang the drum about the 14th Amendment so loud that these Kabuki Dancers all crash to the floor, clutching their bleeding ears.

  • Obama is looking for an Exit out of this Kabuki Show gone bad

    The exit is the 14th Amendment. There is no crisis. That’s what “Kabuki Show” means.

  • O3 commented on the blog post Obama Wants There to be “Hostages”

    2011-07-11 12:40:00View | Delete

    The analogy doesn’t work–the 14th Amendment is nothing like a steering wheel, something that allows you to swerve away–the Administation’s ability to “swerve”–i.e. concede the Republicans terms–is in no way diminished by throwing away the constitutional option.

    It’s more like junking the fully armed twenty-ton battle tank you were going to use to face down your opponents rusty 30-year old Fiat, and deciding you’d better off squaring off against him in a rusty 30-year-old Yugo instead. Losing the ability to turn your opponent into a smoldering metal pancake without so much as getting yourself scratched is sure as heck not going to lower the odds your opponent puts on your swerving first!

    Only someone who was actively trying to lose the game would do something so utterly harebrained, which, as Jon Walker explained, tells you everything you need to know about Obama’s real objectives in this “confrontation”.

  • The only branch of Govt that can authorize spending is Congress.

    Congress ALREADY AUTHORIZED THE SPENDING. Just why do you think a bill will have to be passed to cut spending, if the spending in question hasn’t already been authorized?

  • Bottom line: a sovereign country that controls its own currency cannot go into default. It’s all just numbers on a spreadsheet.

    The two points go together–the 14th Amendment means Congress can’t cause a default, and MMT means that the market can’t force one either. Only the Executive has the power to default and even the Executive doesn’t have the authority to do so.

    Bottom line: it’s a scam, the Republican default threat is real as Saddam’s fleet of balsa-wood anthrax drones that everyone knew were going to exterminate the population of the East Coast unless Bush invaded Iraq right away.

  • The debt limit is an artificial control established by Congress. Ignoring it would have no real consequences outside the halls of the Capitol. Treasury and the Fed could continue business as usual.

    Bingo. The 14th Amendment was written to prevent the debt from becoming a political football. This negotiation is as colossal a fraud as the hunt for Iraq’s WMD, the difference this time is that it’s Americans who stand to get Shocked and Awed if this goes through.

  • O3 commented on the blog post Government Aid Dissipating, Damaging Economic Performance

    2011-07-11 08:13:37View | Delete

    So, who is really holding the debt ceiling hostage? Republicans or Democrats? Boehner or Obama?

    It’s Obama.

    If Congress doesn’t raise the debt ceiling then they’ve abdicated their duties under the 14th Amendment, and the Administration would be legally required to disregard the ceiling and order continued bond issues. The Repubs can threaten impeachment in that case, but as it would have been the House, not the Administration, that breached the Constitution, they would have nothing to charge Obama with; and anything they might trump up would just be voted down by the Senate Dems anyway. A default can happen only if the Administration agrees carry it out.

    Kind of hard for the House to pull the debt ceiling trigger if the Administration is the one holding the gun. This whole “confrontation” is a fraud on the American public.

  • O3 became a registered member

    2011-07-11 07:55:34View | Delete