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Tue May 7, 2013, 10:27 PM

John Boehner On Debt Ceiling: Let's Pay China First, Then U.S. Troops

Source: Huffington Post

WASHINGTON -- House Speaker John Boehner (R-Ohio) on Tuesday essentially agreed with Democrats' arguments that a Republican bill to prioritize debt payments would put China before U.S. troops -- except he suggested that would be a good thing.

During an interview with Bloomberg TV, Boehner was asked about this week's vote on the Full Faith and Credit Act, which, in the event that the U.S hits its debt ceiling, would direct the treasury secretary to pay only the principal and interest owed to bondholders before making any other payments. Money for other payments, such as those for veterans, Medicare and national security, would have to be divvied up from what remained of the scarce federal funds.

Republican supporters of the bill maintain that the most important thing is that the nation won't default on its credit as as long as those interest payments are made on time.

"Our goal here is to get ourselves on a sustainable path from a fiscal standpoint," Boehner said. "I think doing a debt prioritization bill makes it clear to our bondholders that we’re going to meet our obligations."

When show host Peter Cook asked if Boehner's comments mean that, as Democrats have suggested, Republicans are basically choosing to pay China before paying U.S. troops, Boehner didn't disagree.

Read more: http://www.huffingtonpost.com/2013/05/07/john-boehner-debt-ceiling_n_3233422.html?ncid=txtlnkushpmg00000037

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Reply John Boehner On Debt Ceiling: Let's Pay China First, Then U.S. Troops (Original post)
Galraedia May 2013 OP
daleo May 2013 #1
Faryn Balyncd May 2013 #2
Renew Deal May 2013 #3
LeftInTX May 2013 #9
olddad56 May 2013 #4
earthside May 2013 #5
Scuba May 2013 #12
BootinUp May 2013 #6
olddad56 May 2013 #7
smirkymonkey May 2013 #13
Samantha May 2013 #8
bhikkhu May 2013 #10
Midniteagle May 2013 #11

Response to Galraedia (Original post)

Tue May 7, 2013, 10:31 PM

1. Empires that don't pay their soldiers...

Let's just say it's not a good sign.

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Response to Galraedia (Original post)

Tue May 7, 2013, 10:37 PM

2. The Republicans un-American nature is on display.

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Response to Galraedia (Original post)

Tue May 7, 2013, 10:37 PM

3. Boehner would rather pay his commie masters than American Troops



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Response to Renew Deal (Reply #3)

Wed May 8, 2013, 01:11 AM

9. Cool pic!

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Response to Galraedia (Original post)

Tue May 7, 2013, 10:52 PM

4. bring the troops home then. and maybe send some HB1 visa holders home.

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Response to Galraedia (Original post)

Tue May 7, 2013, 10:56 PM

5. A lot is messed-up with this.

In the first place, China only holds about seven percent of U.S. government debt.

Most of the federal government's debt is owed to Americans and to ... the federal government, i.e., Social Security.

In the second place, 'national security' payments also means contractors for things like the F-35 (a monstrous boondoggle and waste of money) and hundreds of other unnecessary military programs. It would be one thing if actually paying troops was at the top of the list, but I don't suspect that is what would actually happen -- the military gravy train for contractors and the Pentagon elites comes first.

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Response to earthside (Reply #5)

Wed May 8, 2013, 06:57 AM

12. Nailed it.

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Response to Galraedia (Original post)

Tue May 7, 2013, 11:50 PM

6. These fuckers are out of control. nt

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Response to BootinUp (Reply #6)

Tue May 7, 2013, 11:56 PM

7. I think these fucking fuckers are out of fucking control.

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Response to olddad56 (Reply #7)

Wed May 8, 2013, 06:37 PM

13. +1000

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Response to Galraedia (Original post)

Wed May 8, 2013, 12:35 AM

8. Well, let's see, Mr. Boehner, who holds what percentage of the U.S. debt

Obviously, we should worry about redeeming our debt to the largest debt holder first.

http://www.citizenceo.com/federal-budget/graph-of-who-holds-us-debt



Well, well, well, looks like 27 percent of U.S. debt is held by the Social Security Trust Fund. Maybe that is why Republicans want to privatize that program, or cut it by 22 percent, or abolish it altogether. You could probably make a great deal with players in the financial industry, giving them the program to run while canceling out the Trust Fund debt in the transaction. That's one way to take that debt number down, and even if you have to hurt a few seniors and the disabled in the process, when did that ever stop Republicans from making a great deal?

Keep talking about our debt held by China to distract from the issue of the actual, literal largest bond holder. People might start to connect the dots and figure out what you and the Fix the Debt crowd are all about.

Sam

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Response to Galraedia (Original post)

Wed May 8, 2013, 01:41 AM

10. There are a lot more bondholders than China

The whole "let's all hate the Chinese" together does nobody any favors. A political party which forms its interpersonal social bonds by hating a foreign country doesn't have a bright future.

It reminds me of "let's hate the Mexicans" (because they took our jobs or don't speak English or whatever), or lets hate the black people, or lets hate women, or lets hate gays...etc.

I'm sure the point is obvious enough. Boehner is an idiot, but he referred to "bondholders", not the Chinese specifically. China holds about 7% of bonds outstanding. 2/3rds of our bond debt we owe to ourselves, not to foreign countries. ( http://1.bp.blogspot.com/-LInANgV3Q4s/UOfn1q7LuxI/AAAAAAAAN5M/1BBa8Yr0O-8/s640/debt+chart.jpg ).

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Response to Galraedia (Original post)

Wed May 8, 2013, 01:46 AM

11. A note to all Veterans........

"Money for other payments, such as those for veterans, Medicare and national security, would have to be divvied up from what remained of the scarce federal funds."


This is how our "Republican friends" in Washington view our importance in regards to promises supposedly guaranteed to us by the G.I. Bill for our service to this country. This is a real slap in the face to all of us who sacrificed our time and put our lives in danger to serve our country !!! These bums don't deserve a red cent of the money they supposedly earn to represent us !!!

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