JAMES MADISON QUOTE - 1822

"A popular government without popular information, or the means of acquiring it, is but a Prologue to a Farce or a Tragedy; or, perhaps both. Knowledge will forever govern ignorance; and a people who mean to be their own governors must arm themselves with the power knowledge gives."

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Wednesday, October 16, 2013

A Serious Crisis Looms - The Next 24 Hours will Determine the Destiny of Our Nation - 1:PM-DEAL REACHED?

Military.com photo (Fair use)
 

A deplorable state of our nation- http://www.military.com/daily-news/2013/10/15/troops-next-paycheck-disappears-if-us-defaults.html?ESRC=todayinmil.sm 
"The troops will get paid on Tuesday (15 October, 2013), but the check after that could come in the form of an IOU if the nation defaults on its debt obligations, Treasury Department officials said.
Default on top of the government shutdown would cancel out the hastily-crafted legislation that brought back furloughed Defense Department civilian employees and allowed for the payment of back pay, death benefits, incentive pays, re-enlistment bonuses, veterans disability benefits and survivor benefits. All would be eliminated if Congress and the White House fail to reach agreement on raising the debt ceiling to avoid default on Oct. 17, Treasury Secretary Jack Lew said last week."

The Imperial Republican Party exposed



Congress and the President has a Constitutional responsibility to pay debt and pensions. Article 14, Section 4 of the United States Constitution: "The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned."
 
The debt ceiling explained in 10 short sentences. http://www.motherjones.com/kevin-drum/2013/10/debt-limit-explained-ten-sentences  "Not much of a choice, is it? That's why it's time for Republicans to stop playing games with the financial equivalent of nuclear weapons and agree to raise the debt limit" - NOW!
 
Bloomberg Reports - "Reneging on its debt obligations would make the U.S. the first major Western government to default since Nazi Germany 80 years ago."

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