[Congress] THE DEBT DEAL PASSED!!!

Huscarl said:
hohoho, just when you thought you got us

Obama, Congress reach a debt deal - Yahoo! News

White House, congressional leaders reach debt deal - CNN.com
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This means shit until it actually passes; it just means the congressional and white house leadership finally agreed on something that they automatically won't get their parties to reject

edit:

ha just read the cnn article..

However, there was no guarantee the plan will win enough support to pass both chambers of Congress.
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apollod said:
Huscarl said:
hohoho, just when you thought you got us

Obama, Congress reach a debt deal - Yahoo! News

White House, congressional leaders reach debt deal - CNN.com
Click to expand...
This means shit until it actually passes; it just means the congressional and white house leadership finally agreed on something that they automatically won't get their parties to reject

edit:

ha just read the cnn article..

However, there was no guarantee the plan will win enough support to pass both chambers of Congress.
Click to expand...
Click to expand...

Of course there's no guarantee; the vote hasn't happened yet.
 
Automatic Jack said:
According to the 14th Amendment, Obama can't legally let us default. So I figure Congress will just lose control of the debt ceiling if they don't pass something, because this thing is happening.
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The 14th Amendment says no such thing. In fact, what it says pretty clearly is that Congress is empowered to enforce the provisions of the 14th, not the President. He has no standing. Not to mention affording him any such power would grossly violate Congress's control over the pursestrings as outlined elsewhere in the Constitution.
 
SniperWhôre said:
The 14th Amendment says no such thing.
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"The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned." :shrug:

In fact, what it says pretty clearly is that Congress is empowered to enforce the provisions of the 14th, not the President. He has no standing.
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I am not reading that in the text. The debt was incurred legally, paying it shall not be questioned.

Not to mention affording him any such power would grossly violate Congress's control over the pursestrings as outlined elsewhere in the Constitution.
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Congress makes the budget, they have control of the debt, but it would appear they do not have the ability to cause the debt to be questioned.

The reality is that Obama could do it, the Republicans would sue, and the Supreme Court would decide which view is correct. That's not his style, so he'll work out a deal.
 
Automatic Jack said:
I am not reading that in the text. The debt was incurred legally, paying it shall not be questioned.
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Section 5. The Congress shall have power to enforce, by appropriate legislation, the provisions of this article.

Automatic Jack said:
Congress makes the budget, they have control of the debt, but it would appear they do not have the ability to cause the debt to be questioned.
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The debt shall not be questioned, that much we agree on, however under the provisions of Section 5 only the Congress can enforce payment of the debt, the President has no standing.

Automatic Jack said:
The reality is that Obama could do it, the Republicans would sue, and the Supreme Court would decide which view is correct. That's not his style, so he'll work out a deal.
Click to expand...
Under the terms of the Amendment he can't do it.
 
I don't know why we're all excited about Congress finally doing their fucking jobs.
 
Waves back at Mukky and Mr Falconi :)

So we go down harder a bit later on. At least the mega rich got a bit more mega from the 2% upward adjustment in the Aus markets over the news. The rest of us gnaw our fingers off looking at our govt enforced retirement savings going down the toilet. Time to buy into gold or at least mines and minerals - you'll lose short and gain long.
 
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