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Fri Jan 18, 2013, 04:34 PM

Debt ceiling stop-gap: GOP would pay some bills over others

http://money.cnn.com/2013/01/18/news/economy/debt-ceiling-payments/index.html?hpt=hp_t2

With the way forward on the debt ceiling still murky, a Republican proposal to be unveiled next week seeks to protect payments of three groups over everyone else: bond investors, seniors and military troops.

Sen. Pat Toomey and more than 30 Senate colleagues will introduce the "Ensuring the Full Faith and Credit of the United States and Protecting America's Soldiers and Seniors Act."

If there's not enough revenue available to cover those payments when they're due, the bill would also give limited authority to Treasury to raise the debt ceiling just enough to borrow the difference between revenue on hand and what's owed on the priority payments.

Chances are good, however, that the White House and Treasury will not be any more receptive to the new version than they were to the original.

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Reply Debt ceiling stop-gap: GOP would pay some bills over others (Original post)
sinkingfeeling Jan 2013 OP
dixiegrrrrl Jan 2013 #1
alcibiades_mystery Jan 2013 #2

Response to sinkingfeeling (Original post)

Fri Jan 18, 2013, 06:42 PM

1. Surprised "seniors" are in the equation.

ohh..wait...baby boomer demographics....they are not ready to throw out the boomer votes.

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Response to sinkingfeeling (Original post)

Fri Jan 18, 2013, 06:45 PM

2. What part of FULL in "full faith and credit" do these asshats not understand

You can't pick and choose which of the bills you've already incurred that you might want to pay. or, you could, but you'd then be defaulting on other obligations.

There is no "prioritization" that sustains "full faith and credit." There is only full faith and credit, and that means everything.

Bungling imbeciles, the lot of them.

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