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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Biden can ignore the congress and just tell the world that the US will meet its obligations.

What recourse does the Congress have? It is constitutional to meet the faith and credit of the US on behalf of the Executive Branch.[/quote]

The House has already passed the bill to do this.  The ball is in the Senate's court along with Biden.[/quote]

You think anyone is buying this???

You passed a bill that holds the full faith and credit of the IS hostage to the insane demands of your base.  That’s all you did.  [/quote]

It does nothing of the sort.  Suppose nothing passed.  There is still revenue coming in.  This money is more than enough to pay interest on the national debt.

There is no default in play, but both sides enjoy pretending it is.  The only thing being held up is the ability of the executive to borrow MORE money.
There is no scenario, whether a deal is reached or not, that would produce a default on US debt.[/quote]

If it is NBD then how can that strategy act as compelling leverage for negotiating? I think you’re full of crap.[/quote]

That's why they are acting like it is a big deal.  The only leverage is that without the debt ceiling increase, spending would have to be cut, while the White House has control over how they cut spending.  They could threaten to withhold Social Security checks, as other White Houses have done, and blame it all on Republicans.[/quote]

The United States has incurred obligations. These are not just bonds and treasury bills. Social Security and Medicare appropriations and approved benefit levels are also obligations. The money is spent. The bills have been incurred. The obligations must be repaid. If Congress wants to cut spending, it needs to pass laws that result in the United States spending less. It can't just approve spending and then refuse to pay for it. [/quote]

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