Acceptable registrations in the queue through March 16 at 11:00a ET have now been activated. Enjoy! -M.W.

Terms of Use have been amended effective October 6, 2019. Make sure you are aware of the new rules! Please visit this thread for details: https://www.mibuzzboard.com/phpBB3/view ... 16&t=48619

The Debt Limit..

Debate and discussion of current events and political issues across the U.S. and throughout the World. Be forewarned -- this forum is NOT for the intellectually weak or those of you with thin skins. Don't come crying to me if you become the subject of ridicule. **Board Administrator reserves the right to revoke posting privileges based on my sole discretion**
User avatar
FakeAndyStuart
Posts: 486
Joined: Sun Jul 26, 2015 7:07 pm
Location: MOVED! Now residing in CurmudgeonLand

The Debt Limit..

Post by FakeAndyStuart » Tue May 09, 2023 8:19 am

May not be supported by the Constitution. A renowned legal professor, when asked if the executive branch could just invoke some form of the 14th Amendment and borrow more money.. said this.
Bob Hockett, Cornell Law School professor, when asked by Axios wrote:Because the national debt entailed by previous Congressional budgets is itself effectively legislated, Republicans House Members who sued would effectively be asking the courts to require the US to default on its own Congressionally contracted debts - a violation of contact law, constitutional law, and international law. There is no way the Supreme Court would grant this. Even the 'socially' conservative justices are nearly all of them economically moderate, at least where contractual debt obligations are concerned. Only Thomas, and MAYBE Coney Barrett, might - might - be sufficiently alien- minded to vindicate that. Worst- case scenario, then, is that Biden, the Senate, and House Dems win 6-3, while best-case scenario is they win 8-1 or even
9-0.
I agree that we need to curtail some fed govt. spending. Fuxking with the debt limit is not the right tool.



User avatar
audiophile
Posts: 8546
Joined: Sat Dec 04, 2004 9:21 pm
Location: Between 88 and 108 MHz.

Re: The Debt Limit..

Post by audiophile » Tue May 09, 2023 8:29 am

Interesting perspective from Bob Hockett.

I just learned that 43 senators have signed on the McCathy's house bill, so that mean Biden should negotiate. There is simply not the votes without some bi-partisan activity. Had only 39 signed there was chance another bill could be passed in the Senate.


Ask not what your country can do FOR you; ask what they are about to do TO YOU!!

User avatar
TC Talks
Posts: 10106
Joined: Wed Oct 26, 2005 2:41 am

Re: The Debt Limit..

Post by TC Talks » Tue May 09, 2023 8:38 am

audiophile wrote:
Tue May 09, 2023 8:29 am
Interesting perspective from Bob Hockett.

I just learned that 43 senators have signed on the McCathy's house bill, so that mean Biden should negotiate. There is simply not the votes without some bi-partisan activity. Had only 39 signed there was chance another bill could be passed in the Senate.
There is a majority of Democrats in the senate. The president shouldn't let this punk do anything but pound sand.


“The more you can increase fear of drugs, crime, welfare mothers, immigrants and aliens, the more you control all of the people.”
― Noam Chomsky

Posting Content © 2024 TC Talks Holdings LP.

User avatar
audiophile
Posts: 8546
Joined: Sat Dec 04, 2004 9:21 pm
Location: Between 88 and 108 MHz.

Re: The Debt Limit..

Post by audiophile » Tue May 09, 2023 9:20 am

And the house is majority Republicans and they have passed a bill to raise debt limit.

Senate hasn't passed anything yet? Sinema and Manchin are on the fence, and Feinstein out on medical.

Bipartisanship is required.

TCT's statement is not what we need.


Ask not what your country can do FOR you; ask what they are about to do TO YOU!!

Matt
Posts: 9853
Joined: Mon Dec 06, 2004 12:18 pm
Location: Where Ben Zonia couldn't cut it

Re: The Debt Limit..

Post by Matt » Tue May 09, 2023 10:20 am

TC Talks wrote:
Tue May 09, 2023 8:38 am
audiophile wrote:
Tue May 09, 2023 8:29 am
Interesting perspective from Bob Hockett.

I just learned that 43 senators have signed on the McCathy's house bill, so that mean Biden should negotiate. There is simply not the votes without some bi-partisan activity. Had only 39 signed there was chance another bill could be passed in the Senate.
There is a majority of Democrats in the senate. The president shouldn't let this punk do anything but pound sand.
This from a poster who absolutely has NO IDEA how the government works.


What's more pathetic: harassing an old man who is paying to do a radio show or supporting a grifter like Trump?

bmw
Posts: 6729
Joined: Sun Dec 05, 2004 1:02 am

Re: The Debt Limit..

Post by bmw » Tue May 09, 2023 10:45 am

Commenting just from a political perspective - IF the Republicans ultimately cave on this issue (which, if past behavior is any indication, that is a likely outcome) and Biden mostly gets his way, the Republican party is finished.



Round Six
Posts: 1019
Joined: Tue Dec 06, 2022 11:02 am

Re: The Debt Limit..

Post by Round Six » Tue May 09, 2023 10:45 am

Mutt wrote:
Tue May 09, 2023 10:20 am
This from a poster who absolutely has NO IDEA how the government works.
I also am not intimate with the inner workings of the government. So if this query sounds retarded, tell me so.

Pros and cons of a 2 percent cut of everything. Salaries, spending, everything. Everybody and everything.
I know it's overly simplistic. Tell me why.


Women spend more time wondering what men are thinking about than men spend actually thinking.

km1125
Posts: 3570
Joined: Thu Mar 14, 2019 3:09 pm

Re: The Debt Limit..

Post by km1125 » Tue May 09, 2023 11:06 am

Round Six wrote:
Tue May 09, 2023 10:45 am
Mutt wrote:
Tue May 09, 2023 10:20 am
This from a poster who absolutely has NO IDEA how the government works.
I also am not intimate with the inner workings of the government. So if this query sounds retarded, tell me so.

Pros and cons of a 2 percent cut of everything. Salaries, spending, everything. Everybody and everything.
I know it's overly simplistic. Tell me why.
It would make a LOT of sense, as would real efforts to eliminate WASTE, which is prevalent.

But, it's a political landmine. You take ONE DOLLAR away from something like Social Security or Medicare and now you're "killing grandma", even if that one dollar removed didn't reduce any actual benefits one iota.

There is a LOT of waste and fraud and a lot of useless benefactors milking the federal machine. How many lawyers are making bank with their programs for "helping Camp Lejeune victims" or -even now- getting "COVID" funds for small businesses"??



User avatar
audiophile
Posts: 8546
Joined: Sat Dec 04, 2004 9:21 pm
Location: Between 88 and 108 MHz.

Re: The Debt Limit..

Post by audiophile » Tue May 09, 2023 11:08 am

The country has pretty much jumped the shark.


Ask not what your country can do FOR you; ask what they are about to do TO YOU!!

User avatar
FakeAndyStuart
Posts: 486
Joined: Sun Jul 26, 2015 7:07 pm
Location: MOVED! Now residing in CurmudgeonLand

Re: The Debt Limit..

Post by FakeAndyStuart » Tue May 09, 2023 11:10 am

If I were Biden, I might just bypass Congress and use Professor Hockett's solution.. which none of you (except for Audio) have addressed.



zzand
Posts: 1710
Joined: Mon Dec 06, 2004 9:16 am
Location: right here

Re: The Debt Limit..

Post by zzand » Tue May 09, 2023 11:21 am

IMHO bypassing Congress would get him what he wants but may also cause fallout. What that fallout would be, above my paid grade, but it is possible. Everyone needs to grow up and work this out together. We do need to reign in spending and live within our means.



User avatar
Rate This
Posts: 13966
Joined: Wed Jan 08, 2020 12:17 am

Re: The Debt Limit..

Post by Rate This » Tue May 09, 2023 11:27 am

zzand wrote:
Tue May 09, 2023 11:21 am
IMHO bypassing Congress would get him what he wants but may also cause fallout. What that fallout would be, above my paid grade, but it is possible. Everyone needs to grow up and work this out together. We do need to reign in spending and live within our means.
And the “debt limit” is not a way to do that. It puts a limit on spending congress has already passed. That would be akin to somebody looking at their credit limit, spending 80% of it and then the credit card company telling you that 75% of your limit is the limit and charging you for going over it. It makes no sense.



zzand
Posts: 1710
Joined: Mon Dec 06, 2004 9:16 am
Location: right here

Re: The Debt Limit..

Post by zzand » Tue May 09, 2023 11:39 am

if it deals with future spending then it does make sense.



bmw
Posts: 6729
Joined: Sun Dec 05, 2004 1:02 am

Re: The Debt Limit..

Post by bmw » Tue May 09, 2023 12:11 pm

Rate This wrote:
Tue May 09, 2023 11:27 am
zzand wrote:
Tue May 09, 2023 11:21 am
IMHO bypassing Congress would get him what he wants but may also cause fallout. What that fallout would be, above my paid grade, but it is possible. Everyone needs to grow up and work this out together. We do need to reign in spending and live within our means.
And the “debt limit” is not a way to do that. It puts a limit on spending congress has already passed. That would be akin to somebody looking at their credit limit, spending 80% of it and then the credit card company telling you that 75% of your limit is the limit and charging you for going over it. It makes no sense.
Let's get real though. The Democrats are about as likely to get onboard with any spending cuts whatsoever as Republicans are to get onboard with any gun control whatsoever. What do you suggest Republicans do to get Dems onboard with spending cuts? The only spending cuts that seem to be on the table for the left are those to military spending (which, I'm not in principle opposed to, if done properly).



User avatar
audiophile
Posts: 8546
Joined: Sat Dec 04, 2004 9:21 pm
Location: Between 88 and 108 MHz.

Re: The Debt Limit..

Post by audiophile » Tue May 09, 2023 12:20 pm

Rate This wrote:
Tue May 09, 2023 11:27 am
zzand wrote:
Tue May 09, 2023 11:21 am
IMHO bypassing Congress would get him what he wants but may also cause fallout. What that fallout would be, above my paid grade, but it is possible. Everyone needs to grow up and work this out together. We do need to reign in spending and live within our means.
And the “debt limit” is not a way to do that. It puts a limit on spending congress has already passed. That would be akin to somebody looking at their credit limit, spending 80% of it and then the credit card company telling you that 75% of your limit is the limit and charging you for going over it. It makes no sense.
Not all money budgeted has been spent or has been contracted, so this is apples to oranges. Your credit bill is money already spent.


Ask not what your country can do FOR you; ask what they are about to do TO YOU!!

Post Reply Previous topicNext topic