Banks failing, Debt Payment Chicken, Wars raging, etc...
Maybe the trigger I have been obsessed with is finally here... :-O
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- I am married and we have 3 adult daughters and a dog. We live in Plymouth MN. My interests are learning, communicating, home improvement projects, motorcycling, boating, and other outside activities. Thank you for reading my blog and have a great day !!!
8 comments:
My own view is that defaulting on the debt would be unconstitutional. So the debt limit crisis might result in a certain awkwardness, no matter what happens, America will continue to honor it's debt. And actually, I think even Republicans agree with me. I haven't heard a single Republican advocate a default on the debt. Also, it it's weakened state, I don't think the Supreme Court would be willing to fight th--He executive branch on the issue.
--Hiram
I think now is as good a time as any to have this constitutional fight over debt default. If it isn't resolved, it is going to hang over all of our heads for the indefinite future.
--Hiram
It will be interesting to see what happens at the May 9th meeting?
The administration hasn't really engaged with Republicans on the issue which I think signals that they are preparing for a default fight. It won't be easy for Republicans to advocate a default on the national debt once that becomes framed as the issue. It will be hard for this Supreme Court to order a default, particularly now that it has an understanding that the president might defy such an order.
--Hiram
I think he would have national defense grounds...
There are strong constitutional arguments. I have no doubt that legally the president could prevail on the issue. It is really a question of whether the Republicans on the Supreme Court would want to fight him on the issue.
--Hiram
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The other thing. As long as the issue remains unresolved, there is the possibility of tremendous turmoil in the financial markets. American debt is the global standard for safety. As long as defaulting on the debt remains a possibility, American debt would lose one of the main things that makes it attractive in the markets. could result in a loss of liquidity and higher interest rates. Oh well.
==Hiram
This seems related
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