Comments on: The Politics of Deficit Spending http://www.thefreemanonline.org/columns/the-politics-of-deficit-spending/ Ideas on Liberty Wed, 15 Feb 2012 00:25:45 +0000 hourly 1 http://wordpress.org/?v=3.3 By: G K http://www.thefreemanonline.org/columns/the-politics-of-deficit-spending/comment-page-1/#comment-46468 G K Mon, 19 Sep 2011 21:19:14 +0000 http://www.thefreemanonline.org/uncategorized/the-politics-of-deficit-spending/#comment-46468 Is Social Security is a Ponzi scheme? Seems like a fair appraisal. So couldn’t a similar case be made that deficit spending – the on-going funding method of federal government – is a Ponzi scheme? Perhaps the entire federal government has become one giant Ponzi scheme. Is Social Security is a Ponzi scheme? Seems like a fair appraisal. So couldn’t a similar case be made that deficit spending – the on-going funding method of federal government – is a Ponzi scheme? Perhaps the entire federal government has become one giant Ponzi scheme.

]]> By: Deficit Plan Includes Tax Increase on Millionaire | The Freeman | Ideas On Liberty http://www.thefreemanonline.org/columns/the-politics-of-deficit-spending/comment-page-1/#comment-46460 Deficit Plan Includes Tax Increase on Millionaire | The Freeman | Ideas On Liberty Mon, 19 Sep 2011 12:22:38 +0000 http://www.thefreemanonline.org/uncategorized/the-politics-of-deficit-spending/#comment-46460 [...] Timely Classic “The Politics of Deficit Spending” by Hans F. [...] [...] Timely Classic “The Politics of Deficit Spending” by Hans F. [...]

]]> By: frick http://www.thefreemanonline.org/columns/the-politics-of-deficit-spending/comment-page-1/#comment-44792 frick Thu, 14 Jul 2011 17:31:39 +0000 http://www.thefreemanonline.org/uncategorized/the-politics-of-deficit-spending/#comment-44792 Debt ceiling? That's no ceiling my friends, that's the sky. The sky's the limit. 14th Amendment. ""The validity of the public debt of the United States, authorized by law ... shall not be questioned," it reads. Neil Buchanan, a professor at George Washington University Law School, said that means the government's obligation to make payments cannot be abrogated by some "arbitrary limit." "If Congress has enacted laws that create public obligations, then those obligations must be met," Buchanan wrote in a column on Thursday. Taken a step farther, some suggest, the law may make the debt ceiling itself unconstitutional. While some have argued that the constitutional clause was specific to the situation of the time, a 1935 Supreme Court ruling established that it still applies, Buchanan said. Treasury Secretary Timothy Geithner, who has warned that a default would have "catastrophic" consequences, raised the clause during a discussion of the debt ceiling in May -- though he did not say the White House should invoke it if negotiations fail." With the power to coerce taxation, why would there be a limit to debt spending? The so-called "Civil War" was not about freeing the slaves, it enslaved us all. www.pacinlaw.org Mike The complete article: http://www.google.com/hostednews/afp/article/ALeqM5iMrugGyq_LErhFiYURZVaXKEgx1Q?docId=CNG.d573db6e66ae2ebcdcbfb581047ca37c.f1 "Obscure clause may help US avert default" Mike Debt ceiling? That’s no ceiling my friends, that’s the sky. The sky’s the limit.

14th Amendment.

“”The validity of the public debt of the United States, authorized by law … shall not be questioned,” it reads.

Neil Buchanan, a professor at George Washington University Law School, said that means the government’s obligation to make payments cannot be abrogated by some “arbitrary limit.”

“If Congress has enacted laws that create public obligations, then those obligations must be met,” Buchanan wrote in a column on Thursday.

Taken a step farther, some suggest, the law may make the debt ceiling itself unconstitutional.

While some have argued that the constitutional clause was specific to the situation of the time, a 1935 Supreme Court ruling established that it still applies, Buchanan said.

Treasury Secretary Timothy Geithner, who has warned that a default would have “catastrophic” consequences, raised the clause during a discussion of the debt ceiling in May — though he did not say the White House should invoke it if negotiations fail.”

With the power to coerce taxation, why would there be a limit to debt spending?

The so-called “Civil War” was not about freeing the slaves, it enslaved us all.

http://www.pacinlaw.org

Mike

The complete article:

http://www.google.com/hostednews/afp/article/ALeqM5iMrugGyq_LErhFiYURZVaXKEgx1Q?docId=CNG.d573db6e66ae2ebcdcbfb581047ca37c.f1

“Obscure clause may help US avert default”

Mike

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