dagblog - Comments for "You can be the first on your block"

Obama would request an

Flavius — Wed, 06 Jul 2011 03:08:31 +0000

In reply to I don't have a lot of faith

Obama would request an opinion from an administration attorney in a non trivial position whether he is required to take any steps necessary for the country to meet its obligations.. Not just the financial ones.

Then direct Geithner to issue more debt.

Who can stop him?

I like it....and I heard it

CVille Dem — Tue, 05 Jul 2011 18:17:18 +0000

In reply to You can be the first on your block

I like it....and I heard it made John Boehner cry.

I don't have a lot of faith

Michael Maiello — Tue, 05 Jul 2011 17:48:17 +0000

In reply to You can be the first on your block

I don't have a lot of faith in this, though. The debt ceiling prohibits the Treasury from raising new debts. It makes no statement whatsoever on the validity of the existing debts. Technically, the Treasury could devote every penny of tax revenue to paying bond claims and thus stave off a default for a considerable amount of time. This would, of course, destroy the planet. But it could be done.