Comment: Amazing

(See in situ)


Amazing

The words of the 14th Amendment certainly seem to guarantee that all current programs, lawfully passed by Congress, will be funded irregardless of any self-imposed debt ceiling.

Obama might think he just discovered the politician's Holy Grail, but what he has found is Pandora's Box.
Nothing but destruction of the currency, the economy, and the country can come from it, because there will be no limits on any congressman's (or President's) wildest wishes...they WILL be funded. The money WILL be printed. If Congress wants to stop the runaway spending, they will have to defund programs one at a time. The politics of defunding make that very unlikely.

Yet I still think the argument has crossed over into the absurd. By stamping his little feet and declaring that it is UNCONSTITUTIONAL to default, the President is ignoring the fact that we ARE defaulting through money creation. Default is not a choice...it is an arithmetical certainty. Winning the political fight over the debt ceiling isn't going to change that. Gravity will have its' way.