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Pelosi urges Obama to sidestep Congress,

Big Muddy rancher

Well-known member
House Minority Leader Nancy Pelosi shared her own idea Sunday on how to avoid a government shutdown should the Republican House and President Barack Obama find themselves unable to reach an agreement on raising the debt ceiling: invoke the 14th Amendment to the Constitution.

Pelosi started the discussion on CBS’ “Face the Nation” by saying she didn’t believe raising the debt ceiling should be tied to spending cuts.

“I don’t think these two things should be related,” Pelosi said.


“I think that we should subject every dollar we spend, every taxpayer dollar, whether it’s defense or domestic, to the harshest scrutiny. Is the taxpayer getting his or her dollar’s worth for that spending? But on the other hand, that is a judgment that we have to make as we make cuts to reduce spending — but having nothing to do with whether the full faith and credit of the United States of America should be placed in jeopardy.”

“The mere suggestion of it last summer resulted in our downgrading of our credit rating, just the suggestion of it. It didn’t even happen, and we were downgraded.”

“So I think that this is a really fundamental discussion, and while — if you say to somebody, ‘should we cut spending in order to reduce, to raise the debt ceiling’ —it sounds almost logical,” Pelosi continued. “But the two are totally separate. The debt ceiling is about spending that has already occurred.”

“You’re going to say, ‘I’m not going to pay my bills unless you stop buying stuff?’ Well, then stop buying stuff so you don’t have future bills. But right now we to pay the bills that have been incurred. And if you want to say cut spending for what we do next, fine. But don’t tie it to the debt ceiling.”

Pelosi’s solution to the impasse is for the president to — as some scholars have proposed — bypass Congress and invoke the 14th Amendment, which states that “[t]he validity of the public debt … shall not be questioned.”

“We always passed the debt ceiling [increases] when President Bush was president, as he was incurring these massive debts and the Republicans weren’t saying ‘boo’ at the time,” Pelosi said when asked why Congress can’t solve these problems before they become crises.

“There should be — this is a conversation where there should be no doubt. In fact, if I were president, I would use the 14th Amendment, which says that the United States will always be paying … I would just go do it, right. But the Congress has incurred much of this debt. So what are we saying? We incurred it, but we’re not going to pay it? If you want to say we’re not going to do it so much in the future, well, that’s another thing, but you can’t say I’m not paying my past debts.”

Read more: http://dailycaller.com/2013/01/07/pelosi-urges-obama-to-sidestep-congress-use-14th-amendment-to-raise-debt-ceiling/#ixzz2HM8rJ44Q
 

hypocritexposer

Well-known member
“The mere suggestion of it last summer resulted in our downgrading of our credit rating, just the suggestion of it. It didn’t even happen, and we were downgraded.”


There might be a clue in there for you Pelosi...it was the lack of spending cuts that was the reason for the downgrade and after the fiscal cliff deal that the TOPDawg came up with, it is expected to be downgraded again, if you don't come up with some major cuts, during the debt ceiling debate.

They are already talking recession, due to the new taxes, included in the fiscal cliff deal and obamacare.


and if that happens, you lose all that additional revenue you were counting on.

Recession Risk

“In isolation, it poses a major risk of putting us in a recession,” says Robert A. Wiedemer, economist and co-author of the best-selling “Aftershock." Wiedemer predicted the housing and subprime meltdown of 2007 and '08.

With GDP growth only hovering around 2 percent, and with consumers already skittish about the economy, Wiedemer predicts that the post-cliff tax jolt will “have a negative effect on the stock market, on real estate markets, and on consumer spending.”

Wiedemer emphasized that ax jolt may be mitigated by the Federal Reserve which could offset the fiscal contraction from the new taxes by further increasing the the money supply, which he argues will create a new set of problems.

Economist Chris Edwards, director of tax policy studies at the CATO Institute, says the short-term impact of the tax hikes will be negative, but warns the long-term impact will be even more negative.

“The more regulation, and the higher the tax rates we have,” he says, “the less flexible the economy becomes, and the longer it will take to recover from any negative blow.”

“Compared to what the economy would have been had we extended all tax policies,” Heritage Foundation Senior Policy Analyst and tax expert Curtis S. Dubay tells Newsmax, “we’re going to have a slower-growing economy, we’re going to have fewer jobs, less opportunity for Americans of all income levels.”

Edward Leamer, a UCLA professor of economics who serves as director of the UCLA Anderson Forecast, tells Newsmax that the real concern in targeting the wealthy with additional taxes is the economic drag it causes over the long term.

Leamer believes estimates that the increased taxation will hurt GDP by as much as 1.5 percent next year are greatly exaggerated, because they are based on flawed Keynesian economic models. The real impact will come later, he says.

Leamer rates the current chance of recession as “very small.”

Traditionally, he says, U.S. recessions stem from weak consumer demand for automobiles and homes. With strong liquidity and low rates provided by the Federal Reserve, there is no indication any such recession is on the horizon, he says.

But he warns the fiscal-cliff deal, by giving taxpayers the erroneous impression that higher taxes on the wealthy can solve the nation’s financial problems, make another, more serious type of economic downturn more likely: That the bond market will say “enough is enough” in response to spiraling U.S. debt.

“That would be a very severe recession,” he says, warning that no one can predict when that day might come.

Read Latest Breaking News from Newsmax.com http://www.newsmax.com/Newsfront/obama-taxes-2013-recession/2013/01/07/id/470418#ixzz2HMBW7gdg
Urgent: Should Obamacare Be Repealed? Vote Here Now!
 

Sandhusker

Well-known member
Is there a more corrupt idiot politician than Pelosi? OK, maybe Obama Ok, maybe Reid. Ok, maybe Schumer. Ok, maybe Boxer. OK, maybe Kerry. OK, maybe....
 

Steve

Well-known member
That dipshyt woman needs to be committed. She's dumber than

the politicians in DC are often pretty stupid... darn few up there should be allowed to even have a crayon.. but she is by far one of the stupidest

when a conspiracy theorist says they are all propped up.. I would like to dismiss them totally.. but with Pislosi as evidence.. it is hard not to believe that there is some outside influence.. (in her case massive outside influence,)
 
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