Defaulting on debt

No deals yet. No compromises yet. Is anyone keeping score? I’m more afraid that ever, if that counts.

That’s good…Obama wants you to be afraid.

What do you mean? I have seen compromises offered on the spending cut side; the democrats have shown that they are willing to deal. They even abandoned this position and have stated they are willing to pass a compromise with not revenue increases. Now the republicans have backed up yet again and will not pass anything that does not include a balanced budget amendment or a cap on revenue.

The Democrats have been willing to compromise, the Republicans (especially those in the house) not so much.

Here is something I read in an op-ed piece in the NY Times maybe a month ago.

What is an executive to do when he is given contradictory mandates? In this case, money appropriated to pay debts or civil servants and prohibition on borrowing money. Well, he takes his choice. Basically, he says: Congress has mandated these expenditures and I cannot satisfy Congress on that and the debt, so I choose to borrow money above the so-called debt limit. If Congress wishes to impeach me, go ahead and make my day. If he had any balls (much doubt) that’s what he would do. I suppose the HR would impeach him, on a straight part vote and the senate would obviously not convict him. I very much doubt that any court in the US would touch such a case.

I read a day or so ago that Denmark is the only other country in the world that handcuffs itself with a debt limit.

We didn’t hear back from you. Is this quote spurious? Not Apocalyptic enough to support a contention? Are you waiting for someone to bite back? What’s up?

That’s good enough for me.

Even a blind hog will find an acorn every now and then. I’m not fluent in legalspeak so I don’t know if acquitted = not guilty, which is the verdict that was returned. If there is no difference, so be it.