Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and the Yahoo Answers website is now in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

Greg
Lv 7
Greg asked in Politics & GovernmentPolitics · 8 years ago

Do republicans REALLY think the President cannot sidestep them on the debt ceiling?

The President DOES NOT need a spending bill to increase the debt ceiling.

The President CANNOT issue more paper currency.

The President VERY MUCH CAN authorize any amount of coinage... in any denomination.

So.... do Conservatives think they hold any cards here? And if so.... why are the "constitutionalists" unaware of this completely legal strategy??

Update:

@Jim: Your lack of familiarity with U.S. law is YOUR problem, not mine.

Update 2:

@GOP Majority: Are you illiterate or just lazy?? This is NOT about spending. For the 100th time. No revenue bill necessary.

Update 3:

Taking action is the President's OBLIGATION.... not just his choice.

Just like Congress, thePresident is bound by Section 4 of the 14th Amendment, which states that "(t)he validity of the public debt of the United States, authorized by law . . . shall not be questioned."

What part of this do Republicans struggle with?

14 Answers

Relevance
  • 8 years ago
    Favorite Answer

    I am well aware that the President can kiss the FED's butt until his lips turn purple and I fully expect him to do it and make the interest expense on the national debt the biggest part of the federal budget. What confuses me is why some people vehemently argue in favor of it. Except for the bankers everyone else gets boned.

  • SAMEER
    Lv 4
    8 years ago

    Coinage based on a value at the time of the writing, is long gone.

    Paying our debts with money backed by metals has been gone since Nixon tried to pay the bills of Johnson's great society and the war in Vietnam , Laos and Cambodia at the same time with the same stack of gold and silver.

    Until some smartass like you noticed the math didn't work.

    No matter what mr Obama does , the financial system is ruined and the world is just waiting for a child to declare

    "the king has no clothes"

    The Cash in circulation is + - 1.3 trillion

    Our debt is + - 26 trillion

    If you think printing & coining increasingly worthless currency is going to solve anything.

    Then

    name a time in history that it has been successful .

    D/T

  • Peter
    Lv 6
    8 years ago

    Republicans leveled with the democrats on the fiscal cliff... God forbid the democrats level with republicans and, as CRAZY as it sounds, cut spending? Do that and republicans will support raising the debt ceiling...

    That 14th amendment passage is open to interpretation and it's really his ONLY justification for raising the debt ceiling himself. If it was a surefire way for Obama to sidestep Congress he would've done it already.

  • Pepper
    Lv 5
    8 years ago

    Obama has never let the constitution, congress, or federal court rulings get in his way of doing what he wants to do.

    Why in God's name are you libbies ok with increasing the debt ceiling when clearly our only hope in surviving at this point is slashing spending?? Seems to be that you love your party more than you do your country or your children and their future

  • Anonymous
    8 years ago

    Maybe you should read the law, who control our credit rateing....what does this effect...who sets debt ceilings (if you said WMF) you would be correct, you see we like the rest of the world signed on to this, and no obama can not just "sidestep" it or he sidesteps into breaking the law! Our debt ceiling was set at 16.9 trillion by the WMF, of course your liberal but you don't have to read you already know everything!

  • Anonymous
    8 years ago

    Reread Article I Section 7

    "All bills to raise revenue shall originate in the House of Representatives"

    If you don't think we can shut down refer to your history books when we did before to Clinton.

  • pdooma
    Lv 7
    8 years ago

    He can try.

    I think the GOP is going to shut down the government. They are already unpopular right now; it's time to fall on their swords and do the right thing until the right legislation goes through.

  • wtinc
    Lv 7
    8 years ago

    I believe the republicans should shut down the government things go so much better. As for Obama being able to raise it under the constitution he can not.

  • ?
    Lv 7
    8 years ago

    Because 0bama is single handedly destroying the economy with his asinine ideas.

  • Anonymous
    8 years ago

    anyone who acknowledes that the President can't PRINT money but then STUPIDLY tries to claim coinage is different is too stupid AND dishonest to debate with!

Still have questions? Get your answers by asking now.