The Daily Paul is a community website with no official affiliation with Ron Paul. The content of posts and comments on the Daily Paul represent the opinions of the original posters, and are not endorsed, approved, or otherwise representative of the opinions of the Daily Paul, its owner, site moderators or Ron Paul. This site may contain adult language and adult concepts. If you are offended by such content, or feel you may be offended by such content, point your browser to a different site immediately. For more, read the Full Disclaimer
© 2007 - 2013 by The Daily Paul. Not paid for by, nor officially affil


Comment: The original article is pure stupidty and is an example of what
The original article is pure stupidty and is an example of what
happens when people can't read or think.
The debt is valid.
Congress not raising the debt ceiling does nothing in the way of questioning the PRESENTLY OWED debt.
Congress not raising the debt ceiling does not in anyway hamper, hinder, or prevent the President or the Secretary of the Treasury (or more aptly, the comptroller of the currency) to PAY the presently owed debt, as it becomes due.
Read that again.
ALL THAT IS GOING TO HAPPEN, is that the President (via Treasury) cannot take on NEW DEBT to pay the present debt.
THAT IS ALL.
It means, that the debt must be paid, but we can't borrow MORE in order to do it. (if that borrowing would put us over the aggregate limit in the law.)
The President has ZERO authority to "borrow Money on the Credit of the United States." That power is specifically delegated to Congress.
So, the President does have to pay the debt. He can't pick and choose. He has to pay it. This means he can't spend a DIME on ANYTHING ELSE, unless he has cash flow left over after meeting current payments due on that debt. Then and only then, can he spend money on anything else.
It means he'd actually have to PAY DOWN the debt, and then we'll have enough government that fits into the left overs, rather than a spiraling out of control debt with no end in sight.
Whomever wrote this article, and whomever is in the White House offering this advice is a complete idiot. Plain as day.
Replies to this comment: