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Pelosi urges Obama to eliminate debt ceiling by fiat

"House Minority Leader Nancy Pelosi, D-Calif., thinks that President Obama should unilaterally eliminate the debt ceiling, rather than negotiate with Congress to spend more money when the United States hits the debt ceiling later this year."

http://times247.com/articles/pelosi-obama-should-unilaterall...

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You don't even need a debt ceiling

I don't understand why Congress even deals with this stupid debt ceiling issue anyway?

The national debt can be eliminated in less than 5 minutes by an act of Congress.

Article 1 Section 8:
"Congress has the power to ....To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures...."

The US MINT already makes $5, $10, $25, and $50 gold coins.
All Congress has to do is return the USA back to a gold standard is to declare that a one troy ounce $50 gold American Eagle coin is equal to $15 trillion Federal Reserve Notes.

Bing bang boom ..... national debt gone. Gold price in Fed Notes within the USA is now regulated to $1 trillion Fed Notes = 1 troy ounce.

Federal Reserve Notes would not go away but still would be used in commerce in the USA. People can pay off their debts to the banks by selling their gold jewelry or coins for Fed Notes and have money left over to spend into the economy. Banks couldn't set the value of the gold required for the repayment as none of them ever write a mortgage or loan with a gold clause written in them.

This is the nasty secret that the bankers don't want people to realize.

Revelation 3:18 "Buy from me gold refined in fire so that you will be rich"

Piglosi

is dangerously ignorant and she doesn't understand that markets do respond to sovereign debt burdens.

Piglosi also doesn't understand where inflation comes from.

Piglosi should be removed from office...she is dummer than a football bat.

Support John Dennis

He's a great candidate and should give her a run for the money.

What do you think? http://consequeries.com/

We have to stop electing the criminally insane.

.

Pelosi

...would be a hoot and fun in Vegas...Bet it all !!! Let it ride !!!

lmfao

donvino

reedr3v's picture

so long as it's not her own money;

she's very good at keeping her own.

The key substantive paragraph from the linked article...

... is this one:

“I would like to see the Constitution used to protect the country’s full faith and credit, as the Constitution does,” Pelosi told reporters Wednesday. She was endorsing the idea that Obama should use the 14th Amendment — which states that “The validity of the public debt of the United States ... shall not be questioned” — to circumvent House Republicans who want spending cuts in exchange for another debt ceiling hike."

I fail to see why upholding the validity of the current debt translates into a Constitutional obligation to take on more debt, which seems to be Rep. Pelosi's position.

A Constitutional, Christian conservative who voted for Ron and stands with Rand

Amendment 14, section 4: "The

Amendment 14, section 4:
"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. But neither the United States nor any State shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void."

Pelosi has no understanding of the intent of that clause. It was simply to say that the debt incurred by the United States is real, can not be repudiated, and must be paid back. As opposed to debts incurred by the Confederacy, which were not taken up by the United States and were made moot. (Bonds issued by the Confederacy became worthless.) Even if, say, 100 billion dollars of treasuries were issued to pay for some foolish, frivolous thing you can't then claim that it's not really valid debt and doesn't have to be paid back.

For precisely that reason we must not keep getting deeper and deeper into debts we can never pay back.

Pelosi apparently believes that the 14th amendment says, "The size of the public debt shall not be questioned, we can make it as big as we want." Like most congressmen she is a constitutional illiterate.

Bill Clinton Actually Advised Obama To Use The 14th Amendment

to circumvent Congress on the debt ceiling, if Congress failed to raise it the last time around. Obama flatly rejected the idea.

The problem is that the media says that without a debt ceiling increase "the checks won't go out" -- as though the government has no source of income outside of deficit financing.

___________________________________________________________________________
"Bipartisan: both parties acting in concert to put both of their hands in your pocket."-Rothbard

Apparently Bill Clinton is

Apparently Bill Clinton is also a constitutional illiterate. No surprise there.

It's Official

Pelosi is certifiably insane. To even think in those terms is so far out of touch with reality, it is nearly inconceivable.

And they call Ron Paul a kook. Jesus this country is fuqd.

I hope that we don't

have to put up with this nutcase much longer. John Dennis is going to run her ass out of California next time.

"Necessity is the plea for every infringement of human freedom. It is argument of tyrants. It is the creed of slaves." William Pitt in the House of Commons November 18, 1783
"I know major allies who fund them" Gen. Dempsey

I hope very much that John

I hope very much that John Dennis defeats Pelosi. But he has the misfortune of running in one of the most solidly Democratic districts in America. Most likely Pelosi will be in congress to inflict damage on the republic for years to come.

How long

can that old hag live???

Formerly rprevolutionist