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[ISOM]

I saw some news outlet mention that the DOJ was looking at the constitution clause about the credit of the United States not being questioned. Couldn't Obama just unilaterally raise the debt limit if it came down to it? I'm sure it would be challenged in the courts but then what happens if obama loses in the courts wouldn't the country then default?

Sorry I'm thinking too much..

 

[Drakeon]

Seriously

Um, I've seen the Finale, but you may want to spoiler that shit. It's literally been a day since it happened.

 

[pigeon]

Is there any indication that he'd really do that or is this just your theory?

Do you really think he'd rather shut down Obamacare forever than mint one measly little most valuable coin ever made?

 

[kingkitty]

2 hours until party time.

Going for a conference is just...sigh

edit: lol Rep Woodall on Cspan arguing that each bill he helped send to the Senate was more moderate than the last. He's technically right!

 

[Diablos]

Luke Russert ‏@LukeRussert 30s
Reid: "We will not go to conference till we get a clean CR. Govt closes, what benefit do we get from that?"


Luke Russert ‏@LukeRussert 1m
Reid on going conference: "We will not go to conference with a gun to our head, House has to pass a 6 week CR."

 

[smokeandmirrors]

I saw some news outlet mention that the DOJ was looking at the constitution clause about the credit of the United States not being questioned. Couldn't Obama just unilaterally raise the debt limit if it came down to it? I'm sure it would be challenged in the courts but then what happens if obama loses in the courts wouldn't the country then default?

Sorry I'm thinking too much..

I think that's the idea behind minting a trillion dollar coin. That can bypass congress.

 

[DarkFlow]

What happens if I put that in a coke machine?

 

[StopMakingSense]

What happens if I put that in a coke machine?

You own Coca-Cola

 

[mightynine]

What happens if I put that in a coke machine?

"Exact Change Only"

 

[BLACKLAC]

Luke Russert ‏@LukeRussert 30s
Reid: "We will not go to conference till we get a clean CR. Govt closes, what benefit do we get from that?"


Luke Russert ‏@LukeRussert 1m
Reid on going conference: "We will not go to conference with a gun to our head, House has to pass a 6 week CR."

 

[PhoenixDark]

@sahilkapur 46s

Harry Reid: "We will not go to conference with a gun to our head."

@KateNocera 2m

Reid: Pass clean CR and then we'll talk conference on a long-term budget

here we go fellas

 

[j_k_redtail]

Luke Russert ‏@LukeRussert 30s
Reid: "We will not go to conference till we get a clean CR. Govt closes, what benefit do we get from that?"


Luke Russert ‏@LukeRussert 1m
Reid on going conference: "We will not go to conference with a gun to our head, House has to pass a 6 week CR."

Reid should tell them: "No, we are not going to conference - and when we do, we are going to conference on the budget the Senate passed months ago. Not on a six-week continuing resolution."

 

[Diablos]

Less than one hour to go before the Government shuts down.

 

[Piecake]

I think that's the idea behind minting a trillion dollar coin. That can bypass congress.

Yup, the treasurer or someone has the power to mint any coin denomination he wants. Law is already on the books so he doesnt need approval from the senate or have to deal with tricky constitutional issues. Basically its ending the debt ceiling forever since presidents can just mint another coin.

If congress want to end that idiocy, they can just repeal that law along with the debt ceiling. Everyone wins

 

[pigeon]

What happens if I put that in a coke machine?

 

[RustyNails]

Anyone want to look at how freepers are doing?

 

[smokeandmirrors]

What happens if I put that in a coke machine?

SImpsons did it and goddamnit if could find the video I would have posted it by now.

Yup, the treasurer or someone has the power to mint any coin denomination he wants. Law is already on the books so he doesnt need approval from the senate or have to deal with tricky constitutional issues. Basically its ending the debt ceiling forever since presidents can just mint another coin.

If congress want to end that idiocy, they can just repeal that law along with the debt ceiling. Everyone wins

Okay good I was right. I'm learnding

 

[FyreWulff]

What happens if I put that in a coke machine?

You become diabetes

 

[789shadow]

What happens if I put that in a coke machine?

Suddenly, Coke.

Thousands of them.

 

[Rubenov]

Minting a trillion dollar coin won't happen. Market implications will be akin to a default. It means the US has lost control and its currency can no longer be trusted.

 

[theprodigy]

Democrats collectively found a spine?

 

[FyreWulff]

Suddenly, Coke.

Thousands of them.

Or if at a gas station: 2 20oz bottles

 

[DarkFlow]

Lol good response to the coke machine. I like to think it would simply implode, or it would only spit back out a dime.

 

[Coldnoodle]

AHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH

 

[Piecake]

Minting a trillion dollar coin won't happen. Market implications will be akin to a default. It means the US has lost control and its currency can no longer be trusted.

Not true, the fed can simply sell the bonds its been buying to make it work. Its not going to cause massive inflation or instability

 

[Crisco]

My fiance is from Costa Rica and she talks to me about how their government is basically an organized crime ring. That would be preferable to this.

 

[B-Dubs]

My fiance is from Costa Rica and she talks to me about how their government is basically an organized crime ring. That would be preferable to this.

The GOP is already acting like this is the case though. Their entire negotiating strategy seems to be "That's a nice economy you've got there, be a shame if anything happened to it."

 

[RustyNails]

Yup, the treasurer or someone has the power to mint any coin denomination he wants. Law is already on the books so he doesnt need approval from the senate or have to deal with tricky constitutional issues. Basically its ending the debt ceiling forever since presidents can just mint another coin.

If congress want to end that idiocy, they can just repeal that law along with the debt ceiling. Everyone wins

In other words, IMPEACHMENTS

 

[pigeon]

Minting a trillion dollar coin won't happen. Market implications will be akin to a default. It means the US has lost control and its currency can no longer be trusted.

To the extent to which this is true, it's only because people keep SAYING it's true. If you want to protect the global economy you had better start saying that the trillion dollar coin will be totally fine and everyone will get ice cream, no matter what you secretly think, because the markets will take their cue on how to act from how everybody is saying the market should act if it happens.

I wish I was kidding.

 

[Oblivion]

Do you really think he'd rather shut down Obamacare forever than mint one measly little most valuable coin ever made?

The trillion dollar coin idea will get him laughed out of the room where all the VSP reside. Instead, what he should do is mint a couple of bricks of platinum, and say,"okay, a trillion bucks right there!". It would serve the same purpose as the coin, but at least it'll make it seem somewhat more reasonable.

 

[Piecake]

To the extent to which this is true, it's only because people keep SAYING it's true. If you want to protect the global economy you had better start saying that the trillion dollar coin will be totally fine and everyone will get ice cream, no matter what you secretly think, because the markets will take their cue on how to act from how everybody is saying the market should act if it happens.

I wish I was kidding.

Yup, in the short term the market consists of human feelings and robotic trade algorithms. Long term? Well, hopefully its efficient.

 

[Sibylus]

And I'm going to bed. I'll catch up on the craziness in the morn'.

What?! You may not even have a country when you wake up! It could turn into Civil War II: The South Rises Again For Five Minutes out there!

 

[DarkFlow]

Santorum is going to be on Fox news next, don't miss the crazy.

 

[theprodigy]

What?! You may not even have a country when you wake up! It could turn into Civil War II: The South Rises Again For Five Minutes out there!

that's the debt ceiling

 

[Rhomega Beta]

What happens if I put that in a coke machine?

You get ALL of the Coke.

 

[B-Dubs]

Santorum is going to be on Fox news next, don't miss the crazy.

Considering the House has gone full Santorum, there's no one better to talk to.

 

[theprodigy]

so guys, what's Obama up to?

Spoiler

waiting for a 3 AM phone call

 

[mightynine]

so guys, what's Obama up to?

Spoiler

waiting for a 3 AM phone call

GOP response:

Spoiler

He'll probably be out for a smoke

 

[shadowsdarknes]

So how do these Senate House conferences get set up? What is the forum structure?

Who calls the shots? Who represents each body of Congress? Is this private?

 

[GhaleonEB]

What happens if I put that in a coke machine?

Fanta sea.

 

[Diablos]

Do you really think he'd rather shut down Obamacare forever than mint one measly little most valuable coin ever made?

Didn't the Treasury reject that during the 2011 debt ceiling crisis? What makes you think they'd do it now? I just can't see it happening. 14th Amendment might be more likely.

Sessions looked really distraught, like he didn't really think sticking to defunding Obamacare was a good idea, at the start of the meeting.

Nancy Pelosi looks like she's about to cry right now.

This is fucking bad.

 

[Oblivion]

So how do these Senate House conferences get set up? What is the forum structure?

Who calls the shots? Who represents each body of Congress? Is this private?

More importantly, even if there's a conference committee, how are they supposed to resolve this by midnight?

 

[B-Dubs]

I'm watching the Daily Show and it's like I'm Jon and Bill is my dad. They have the exact same debate style. It's super freaky.

 

[gcubed]

More importantly, even if there's a conference committee, how are they supposed to resolve this by midnight?

Reid said no, so there won't be a conference

 

[Diablos]

As soon as Van Hollen started mentioning repealing Obamacare his voice started trembling. Pelosi's eyes are getting watery.

 

[DarkFlow]

Why do Republicans keep calling the ACA a "bill"? This thing is long past being called a bill, it's a fucking law. Maybe they should watch this to figure it out.

https://www.youtube.com/watch?v=tyeJ55o3El0&feature=youtube_gdata_player

 

[pigeon]

Didn't the Treasury reject that during the 2011 debt ceiling crisis? What makes you think they'd do it now?

What part of "mint the coin or face global economic apocalypse" wasn't clear?

Ruling out the coin was part of the "break the fever" strategy where Obama wanted to force the GOP to take reasonable votes on normal governing business to see if they decided they liked it. In order to make them take a vote on the debt ceiling, Obama had to rule out all possible alternatives. I understand that toilet training works along these lines as well.

However, since the GOP is apparently completely unwilling to take any more reasonable votes ever, it's time to go back to all the possible alternatives.

 

[j_k_redtail]

@robertcostaNRO 58s

I'm hanging w/ Pete King right now. He tells me this "whole thing has become madness"

Remember, King and the "moderates" backed down earlier because Boehner said "trust me, I've got this."

 

[RustyNails]

so guys, what's Obama up to?

Giving up Obamacare and re-instating Bush tax cuts in return for funding government for 3 days.

 

[GaimeGuy]

Minting a trillion dollar coin won't happen. Market implications will be akin to a default. It means the US has lost control and its currency can no longer be trusted.

Nope, it would just prove how pathetic congress is.

Basically, since congress won't let the treasury take on any more credit, the federal reserve will debit their account now, then credit them later whenever congress finally DOES decide to let them take on more credit. And if they don't, then they'll just continue debiting their account so they have the funds needed to continue operating. And since the money just ping pongs back and forth between the fed and the treasury, it doesn't circulate throughout the economy or cause any inflation or anything.

It's just an accounting trick.