Bringing the topic back...
I found this proposed Continuing Resolution from the House (H.ConRes 68) very interesting. Once again, Congress gets it wrong. The reason the President cannot use clause 4 of the 14th Amendment to the Constitution to take matters pertaining to the nation's debt in his own hands is:
14th Amendment, clause 5:
Therefore, this HCR will never work! Such an measure would merely be an abdication of Congress' enumerated power to ensure "the full faith and credit of the U.S." onto the President. As such, if if the President had submitted a budget plan (which he had), this is still Congress' problem to fix!5. The Congress shall have power to enforce, by appropriate legislation, the provisions of this article.
1) the massive firing or forced layoffs of federal and state employees coupled with the fact that;
2) commercial and investment banks have placed rebuilding their liquidity rather than make loans, and;
3) the States have yet to act on public-private contracts for which they accepted Stimulus fund in-part for; and,
4) recent natural disasters.
All four combined have hampered or hindering job growth. Unfortunately, some people refuse to see that.
Last edited by Objective Voice; 08-01-11 at 03:49 PM.
It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
"Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911
msnbc, today: "ten signs the double dip recession has begun"
10 signs the double-dip recession has begun - Business - US business - msnbc.comFriday's news on GDP shows the double dip has arrived — an expansion of only 1.3 percent and consumer spending up 0.1 percent in the second quarter. Astonishingly low by any account. The debt ceiling trouble and lack of a longer term resolution to the deficit will make it worse.
The U.S. has entered a second recession. It may not be as bad as the first. Economists say that the Great Recession began in December 2007 and lasted until July 2009. That may be the way that the economy was seen through the eyes of experts, but many Americans do not believe that the 2008-2009 downturn ever ended.
the ten signs listed and discussed by the home of rachel and ed are---inflation, low investment yields, autos, oil, the budget, the chinese slowdown, unemployment, the debt ceiling (its anti stimulative effect), a credit crunch and housing
You can add these numbers for discouraged workers to the total
2008 467 396 401 412 400 420 461 381 467 484 608 642
2009 734 731 685 740 792 793 796 758 706 808 861 929
2010 1065 1204 994 1197 1083 1207 1185 1110 1209 1219 1282 1318
2011 993 1020 921 989 822 982