I think we have to admit that McCain does bare some resemblance to Smeagol.
I think the problem with the Tea Partiers is that they see it as being their way or nothing. I understand their perspective and conviction but I think the issue is that they want to do it ALL at once. No compromise, every vote they make must include everything they think has to be done for the next 20 years of government. I think the problem is if we do it their way the whole economy is going to come crashing down. People compl
When our economy is plagued by the cancer of debt then compromise is not the best idea. Lets wait a few more years for the tumor to grow, or just chop tiny parts off it. Either you deal with it or let it consume you. The Tea Party movement is just the rationalization of that fact, after years of denial the populace is finally accepting the situation and urgently want it dealt with.
Hearing McCain complain about peoples actions inadvertently re-electing Obama is just hilarious. After his amazing run fro
Forcing a default on the US government, sending massive shockwaves through the global economy, which is already trying to deal with a potential partial Eurozone meltdown, that's not a sensible solution. That's the solution that self-destructive nihilists would take. It's almost like a financial Armageddon cult has taken over Congress.
And Obama, well, he gets the chance to do a number of things, including the 14th Amendment stunt, and look like the calm, collected rational president, just like when Bill Cl
There you go, swallowing those lies and mistruths you've heard blasted louder than anything else, on every major media outlet (and on some of the smaller ones). Refusing to not borrow more money will not, in fact, force the government to default on it's loans. The government still has enough money to pay the interest on the loans, no muss, no fuss. It may not be able to pay other people; foreign aid, congress, defense contractors, but it will not default on it's loans unless the President chooses to. Not to
"[The Federal Reserve] was created by Congress so that it could manuever around the Constitution and legally create a fiat currency."
The Congress cannot delegate powers it doesn't have. The Congress has the power to " lay and collect Taxes, Duties, Imposts and Excises", "To borrow money on the credit of the United States", To coin Money, regulate the Value thereof, and of foreign Coin", "To make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers, and all other Powers vested by this Constitution in the Government of the United States, or in any Department or Officer thereof."
The Contract clause does not apply to the Federal government, but only to the States: "No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility."
By implication, the Congress is not forbidden by this section of the Constitution to do any of those things (elsewhere, in art.I sec. 9, Congress is prohibited from passing bills of attainder, ex post facto laws, and granting titles of nobility, but not from the other items in the Contract Clause) thus if it falls into one of the (poorly) enumerated powers such as regulating interstate commerce (as any law affecting the national currency presumably does), Congress may "emit Bills of Credit", make "Things other than gold or silver coin a Tender in Payment of Debts", and "pass Laws impairing the Obligation of Contracts." Thus Congress can issue a fiat currency under the Constitution. If the Congress can do so, then the courts have held that they can delegate that power. Congress has done so to the Federal Reserve. If there is any end-run around the Constitution, it is in delegating powers, but not in the powers themselves.
Smeagol (Score:5, Insightful)
Re: (Score:0)
When our economy is plagued by the cancer of debt then compromise is not the best idea. Lets wait a few more years for the tumor to grow, or just chop tiny parts off it. Either you deal with it or let it consume you. The Tea Party movement is just the rationalization of that fact, after years of denial the populace is finally accepting the situation and urgently want it dealt with.
Hearing McCain complain about peoples actions inadvertently re-electing Obama is just hilarious. After his amazing run fro
Re: (Score:2, Insightful)
Forcing a default on the US government, sending massive shockwaves through the global economy, which is already trying to deal with a potential partial Eurozone meltdown, that's not a sensible solution. That's the solution that self-destructive nihilists would take. It's almost like a financial Armageddon cult has taken over Congress.
And Obama, well, he gets the chance to do a number of things, including the 14th Amendment stunt, and look like the calm, collected rational president, just like when Bill Cl
Re: (Score:2)
Forcing a default on the US government
There you go, swallowing those lies and mistruths you've heard blasted louder than anything else, on every major media outlet (and on some of the smaller ones). Refusing to not borrow more money will not, in fact, force the government to default on it's loans. The government still has enough money to pay the interest on the loans, no muss, no fuss. It may not be able to pay other people; foreign aid, congress, defense contractors, but it will not default on it's loans unless the President chooses to. Not to
Re:Smeagol (Score:2)
"[The Federal Reserve] was created by Congress so that it could manuever around the Constitution and legally create a fiat currency."
The Congress cannot delegate powers it doesn't have. The Congress has the power to " lay and collect Taxes, Duties, Imposts and Excises", "To borrow money on the credit of the United States", To coin Money, regulate the Value thereof, and of foreign Coin", "To make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers, and all other Powers vested by this Constitution in the Government of the United States, or in any Department or Officer thereof."
The Contract clause does not apply to the Federal government, but only to the States:
"No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility."
By implication, the Congress is not forbidden by this section of the Constitution to do any of those things (elsewhere, in art.I sec. 9, Congress is prohibited from passing bills of attainder, ex post facto laws, and granting titles of nobility, but not from the other items in the Contract Clause) thus if it falls into one of the (poorly) enumerated powers such as regulating interstate commerce (as any law affecting the national currency presumably does), Congress may "emit Bills of Credit", make "Things other than gold or silver coin a Tender in Payment of Debts", and "pass Laws impairing the Obligation of Contracts." Thus Congress can issue a fiat currency under the Constitution. If the Congress can do so, then the courts have held that they can delegate that power. Congress has done so to the Federal Reserve. If there is any end-run around the Constitution, it is in delegating powers, but not in the powers themselves.