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Thread: Moody's offers different view on debt limit

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    Re: Moody's offers different view on debt limit

    Quote Originally Posted by Baralis View Post
    How many of those are enumerated powers by the constitution? We should remove all that are not. That is a first step to solving our debt problem.
    in our beginning there were 4 departments, it was not until 1849 ,until the next department was created the dept of interior, now we have 15 departments, which most are not authorized by the constitution.

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    Re: Moody's offers different view on debt limit

    Quote Originally Posted by Baralis View Post
    How many of those are enumerated powers by the constitution? We should remove all that are not. That is a first step to solving our debt problem.
    i guess using the concept of concurrent powers and implied powers is not going to fly.

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    Re: Moody's offers different view on debt limit

    Quote Originally Posted by Unitedwestand13 View Post
    i guess using the concept of concurrent powers and implied powers is not going to fly.
    no...... because the founders state they MUST be enumerated powers.

    “This specification of particulars [the 18 enumerated powers of Article I, Section 8] evidently excludes all pretension to a general legislative authority, because an affirmative grant of special powers would be absurd as well as useless if a general authority was intended.” – Alexander Hamilton, Federalist 83

    “Congress has not unlimited powers to provide for the general welfare, but only those specifically enumerated.” – Thomas Jefferson, 1798

    “[Congressional jurisdiction of power] is limited to certain enumerated objects, which concern all the members of the republic, but which are not to be attained by the separate provisions of any.” – James Madison, Federalist 14

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    Re: Moody's offers different view on debt limit

    Quote Originally Posted by AlabamaPaul View Post
    Actually, she supported the repeal of Glass-Steagall...
    Yellen hasn't ever been shy about making her thoughts known, either! Summers may not be the best choice at this time, IMO.

    Greetings, AP. Hope all is well in your world.

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    Re: Moody's offers different view on debt limit

    Quote Originally Posted by Hicup View Post
    Baloney, pure rubbish, Sir. Moody's is correct and as I've been saying to anyone that has an ounce of grey matter; the USA will NOT, and I repeat for the umpteenth time, will NOT default. All it means is that the USA cannot borrow anymore money. It can pay it's debts with interest, and all that needs to be done is to prioritize how that money gets spent, period. Think of it like a budget. This is how much we make, this is how much we owe each month, so honey, looks like no cable tv, and cell phones this month. No eating out at Denny's, or McDonalds, and certainly not getting that massage at the spa. If we cut back, we'll be ok..

    Obama, and anyone in the world that believes his lie about default is a moron!


    Tim-
    I do agree it is time to cut back, and you seem to have the idea down but let us put in some things to help you out here. It means no more big wasteful military industrial contracts. no more country building and wars to stop muslim terrorists abroad. No screwing around with Syria. It means we will lose strength in the dollar and china and russia will strengthen their world position, and we might lose the default currency for things like oil purchasing which will drive demand for the dollar even lower and reduce our buying power. It will mean the end of corporate welfare and tax breaks because we can no longer squeeze any more money from the middle class and will need to rely on revenue over credit so corporations will have to pay more taxes along with the rich. It will mean a reduction in our military presence all over the world. It will mean finding ways to end our privatized prison system and decriminalizing things like drugs because we simply do not have the revenue to keep up the jail population. It will mean a decrease in the spending power of the middle class and re-entering a recession and perhaps a full depression because commerce will slow to a trickle as we pay. If we do not fund programs like police and the welfare system it will mean riots for food and a increase in criminal activity like theft. It will increase our ghetto size because we will add more poor people from the middle class.

    Anything else aside from pulling back on both democratic and republican spending is a half assed solution which we will not be able to borrow money to overcome. I am all for it. I am totally for pulling back to pay our bills and stopping the borrowing. The conservatives have to recognize that means the end to american exceptionalism and voluntariluy lowering our status from a 1st world country to a third world nation just so we can pay our bills. Don't start making decisions you cannot live with because you will not be getting the things you like while everyone else suffers. You will have to suck it up and deal just like the rest of us. The only way you will get what you want is to have the republicans start to borrow money to pay for their expensive programs. It will be real conservative spending and not the BS the right wing calls conservative. Now let us all jump off that cliff together because I will chain myself to the republicans, but you are sure as hell leading the way off the cliff.

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    Re: Moody's offers different view on debt limit

    Quote Originally Posted by polgara View Post
    Yellen hasn't ever been shy about making her thoughts known, either! Summers may not be the best choice at this time, IMO.

    Greetings, AP. Hope all is well in your world.
    Good evening pg. Yellen appears one to toe the party line without delay...
    I don't often change my signature, but this was just too over the top to let anyone forget with what this country is up against...
    Quote Originally Posted by James D Hill View Post
    I am for gay marriage because it ticks off Jesus freaks and social conservatives. Gays are also good voters because the vote for my side so I fight next to them.

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    Re: Moody's offers different view on debt limit

    Quote Originally Posted by AlabamaPaul View Post
    Actually, she supported the repeal of Glass-Steagall...
    I don't doubt that some things I have heard may be incorrect, but I would love a link on that one.

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    Re: Moody's offers different view on debt limit

    Quote Originally Posted by Hicup View Post
    Baloney, pure rubbish, Sir. Moody's is correct and as I've been saying to anyone that has an ounce of grey matter; the USA will NOT, and I repeat for the umpteenth time, will NOT default. All it means is that the USA cannot borrow anymore money. It can pay it's debts with interest, and all that needs to be done is to prioritize how that money gets spent, period. Think of it like a budget. This is how much we make, this is how much we owe each month, so honey, looks like no cable tv, and cell phones this month. No eating out at Denny's, or McDonalds, and certainly not getting that massage at the spa. If we cut back, we'll be ok..

    Obama, and anyone in the world that believes his lie about default is a moron!


    Tim-
    Oh dear.

    The debt limit is about paying for goods and services the state bought on a "promise". Do this and you'll get paid.

    What did I say in my comment? If the debt limit is not raised, yes, the current debt can be serviced but the govt still has outstanding bills to pay, which, if it doesn't raise the debt ceiling and doens't borrow money to pay those bills, then a lot of people, businesses, will not get their money and will suffer cause of this.

    The govt won't default on it's current debt, but it will default on it's outstanding debts.

    You don't think this is a problem? fine, tell your congressman to not vote for the debt ceiling. Let the debt ceiling at the same level as it is now and let's see what happens.
    And once the fiasco will be over and the US's reputation will be no better than Argentina's in the 1960s, then maybe, just maybe, reasonable people will take power to fix things instead of the idiots who are now in Congress. And while all of them are idiots, the biggest idiots are on the republican side of the congress.

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    Re: Moody's offers different view on debt limit

    He cannot provide one..Though she may be the first Democrat, she is anything but toe-the-line. Exhibit A is that she is a Bernanke disciple, a Repub appointee..Exhibit B is Yellin is Obama's 2nd choice, after Repubs shot down the 1st. Minority rule in Both chambers.
    Quote Originally Posted by tererun View Post
    I don't doubt that some things I have heard may be incorrect, but I would love a link on that one.

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    Re: Moody's offers different view on debt limit

    Quote Originally Posted by Rainman05 View Post
    You don't think this is a problem? fine, tell your congressman to not vote for the debt ceiling. Let the debt ceiling at the same level as it is now and let's see what happens.
    And once the fiasco will be over and the US's reputation will be no better than Argentina's in the 1960s, then maybe, just maybe, reasonable people will take power to fix things instead of the idiots who are now in Congress. And while all of them are idiots, the biggest idiots are on the republican side of the congress.
    Certain moderators consider it partisan hackery to point out that INTEREST on TREASURY BILLS DOUBLED last night.
    Every Business leader, including their KOCH funders, opposes this way of killing a law; pure hackery on my part.

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