1. Welcome to SportsJournalists.com, a friendly forum for discussing all things sports and journalism.

    Your voice is missing! You will need to register for a free account to get access to the following site features:
    • Reply to discussions and create your own threads.
    • Access to private conversations with other members.
    • Fewer ads.

    We hope to see you as a part of our community soon!

President Biden: The NEW one and only politics thread

Discussion in 'Sports and News' started by Moderator1, Jan 20, 2021.

  1. Michael_ Gee

    Michael_ Gee Well-Known Member

    The amendment says what it says. Is it vague enough to allow a President to defy Congress over the debt limit? There's disagreement. Our national oversupply of Constitutional law professors who need to get published insures there's disagreement on just about any constitutional issue. FTR, I think McCarthy might be writing checks his House majority, if he gets one, can't cash. We're cutting Medicaid and Social Security and we're ending aid to Ukraine do not smell like political winners to me.
     
  2. The Big Ragu

    The Big Ragu Moderator Staff Member

    You can make anything vague enough to try to claim it says whatever you want it to say. In 1913, when we were essentially having the same debates about spending and debt issuance, nobody was creating that bullshit to try to override the legislative branch and its legitimate function under our system of government.

    Under our system of government, Congress has the power of the purse. There is no ambiguity about this. Throwing amendments to the Constitution that had nothing to do with the debt ceiling debate into a blender and saying, "There is disagreement" is really Donald Trump like. You can claim there is disagreement about anything if you get enough people to repeat nonsense or bullshit.
     
  3. doctorquant

    doctorquant Well-Known Member

    I think one thing that's being overlooked is that even if the President were to blow off the debt limit and instruct whoever (the SecTreas?) to issue the debt ... that wouldn't be all there is to it. Takes two to tango, and I betcha there'd be a lot of hesitation to buy that debt in that scenario.
     
  4. Jake from State Farm

    Jake from State Farm Well-Known Member

  5. Regan MacNeil

    Regan MacNeil Well-Known Member

    Oh, so NOW financial markets won't want to buy debt. Fuck it. Let the whole system burn if Republicans want to take hostages.

    Let's go with a barter economy.
     
  6. The Big Ragu

    The Big Ragu Moderator Staff Member

    I was going to post facetiously. ... but honestly, I don't think it would be any problem. They could just use existing sophistry. ... Some of it would get borrowed as intragovernmental debt, instead of having to issue new public debt, between one part of the government and another.

    But mostly. ... the Federal Reserve would just create money out of thin air and buy whatever public debt the treasury wants to issue with the new money. It already is the largest owner of our public debt, by far, using that exact scheme. I'd say there is a limit to the ability to do it. ... but look at Japan and its central bank. There is no actual market for Japanese debt anymore, they just borrow endlessly and print money that the bank then uses to buy the debt. And even though economically they suffer and they have destroyed themselves as a result, it hasn't resulted in a credit default spillover (yet).
     
    Last edited: Oct 18, 2022
  7. swingline

    swingline Well-Known Member

    I’ll grow a Victory Garden!
     
    dixiehack likes this.
  8. Michael_ Gee

    Michael_ Gee Well-Known Member

    I will only point out that Trump proved that as long as he's in office and has at least 34 Senators willing to back his play, a President IS King, because impeachment is a dead letter.
     
    tea and ease likes this.
  9. Regan MacNeil

    Regan MacNeil Well-Known Member

    And the Supreme Court doesn't have an enforcement mechanism. I'm almost sick enough of the GOP to want Biden to do it. And the executive overreach will make Ragu's head asplode.

    But it still sets an overwhelmingly dangerous precedent, and Democrats will have no standing to complain ever. So pass.
     
  10. Michael_ Gee

    Michael_ Gee Well-Known Member

    If Biden agrees to Social Security snd Medicaid cuts to raise the debt limit, his Presidency is over and so is the Democratic Party. Same goes for letting the country default. He has no POLITICAL alternative to finding a way to square that circle, constitutional niceties be damned. As Oklahoma Gov. Willian "Alfalfa Bill" Murray once told FDR, "what's the Constitution among friends?"
     
    WriteThinking likes this.
  11. Regan MacNeil

    Regan MacNeil Well-Known Member

    It's a game of chicken. Let the GOP default our national debt if they really have the sack. I already said "Fuck it." If the people don't want a wrecked economy, maybe the GOP shouldn't be in charge of anything. But this seems to be what Americans want.
     
  12. Michael_ Gee

    Michael_ Gee Well-Known Member

    First rule of politics: When the voters fuck up, they never, ever blame themselves. Most often, they blame whoever told them "do that, you're fucking yourselves over."
     
Draft saved Draft deleted

Share This Page