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In reply to the discussion: Declaration of a State of Emergency -- can President Obama issue one to prevent default? [View all]Samantha
(9,314 posts)Federal laws and treaties are automatically void if they are not consistent with the Constitution. Looking at the history of the implementation of this law and the various Presidents who have used it, were it truly not in compliance with the Constitution, why is it there are 19 of them existing today?
Your remark that there is no disaster to avert, we can service our bond obligations with current revenue is the exact same justification many Republicans are using. That statement is untrue. Perhaps we could cough up 47% of the debt owed to foreign investors, but that still leaves domestic bondholders and inter-governmental holding plans. The largest debt holder of the United States is the American people, and specifically, the Social Security Trust Funds is holding approximately 2.67 Trillion Dollars of debt. If the debt ceiling were not lifted and Social Security payments were not made, that in itself would constitute a default to the participants. Paying our foreign debt holders and not U.S. debt holders is still a default, and we would not have the funds to pay both.
The Republicans obviously do enjoy the same Constitutional and legal privileges as the Democrats and under situations such as the one I described in my thread, the citizens must be vigilant during the process.
As for the rest of your remarks, I simply will ignore them.
Sam
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