"Raise the Debt Limit or
Default on the Federal Government Debt"
Big Lie
Head of the Regime Biden asserts he has the power, under the 14th Amendment, to unilaterally raise the Federal Debt Limit without Congress's consent.
The actual words of the Amendment, however, suggest differently: It is Congress that has plenary power over the Debt, not whoever holds the office of President.
"Section 5 - The Congress shall have the power to enforce, by appropriate legislation, the provisions of this article."
Some weeks ago Speaker McCarthy made a political mistake when he spoke (6 February 2023) and supported 'raising the debt ceiling' but with 'reservations'. In early May the Republican House Majority passed a Debt Increase 217 to 215, with several Freedom Caucus Republicans refusing to vote in favor.
When a government has to borrow more to pay the interest on its debt it is clearly bankrupt, but for the largesse of its creditors. No one who lends money to the US Government under those circumstances has a legitimate expectation of being repaid. Repudiation of the debt may be the only choice of future generations and may be the necessary precondition for the restoration of the Republic.
Both governing parties, what we can call the Uniparty, are unwilling to stop the bubble the massive 'printing' of fiat currency must engender. Both sides of the Uniparty depend on pumping the bubble, primarily through ever growing agencies and programs. Both sides will keep the game going until the formerly 'good as gold' US Dollar evaporates even more than it has over the past century of Federal Reserve fiat monopoly.
Pointing out the truth of the Federal Debt, some suggest, violates the 14th Amendment's clause against 'questioning' the Debt. I cannot imagine that the authors of the Amendment thought the 14th Amendment amended the First Amendment. Those who say that 'failing to raise the debt limit' will cause the Federal Government to 'default' on its debt are lying -- so long as they have trillions in taxes coming in they can service their debt -- and they are "questioning the debt" themselves...
Calling debt-financed government 'fraud' is protected speech.
Nonetheless we are told that the US government might 'default' on its public debt if the 'ceiling' is not raised. But what exactly is this limit on the Federal Treasury's ability to borrow?
From the beginning of the Republic until relatively recently every issuance of Federal notes had to be authorized by a specific enactment by Congress. Every time the USA went deeper into debt Congress had to take responsibility. Thus, for generations the Federal debt remained relatively low.
Then in 1917 Congress decided to hide its Constitutional obligations regarding debt and substituted the 'Debt Ceiling' for actual Congressional oversight. [1] In that year the Debt was 5.7 billion dollars (when twenty dollars equaled an ounce of gold) [2]. Today the debt tops $31 trillion, a 5,438 percent increase.
What Speaker McCarthy does not address is the 'Elephant in the Room' which is that the US Government is not obligated to go further into debt to service its Debt. It can do that from the taxes it collects. Defaulting would thus be a political choice.
The opposite policy choice is to use incoming revenues to pay the interest on the debt, and, for the sake of our grandchildren's future, begin to pay it off. The Federal Government takes in at least $4.7 trillion [3] so it has plenty of money to meet its debt. What's left over can be applied to other government expenses, or returned to the taxpayers.
Why then does the Uniparty want to raise the Debt Ceiling?
So Congress can spend even more money than it has, without taking political responsibility.
Big-Spender Biden has a new ally in Big Spender McCarthy. Both are, in effect, defrauding the public and causing the Federal Debt to be 'questioned.'.
We are in a time when the savings and real incomes of the real people who contribute to the real national economy (that means private employees and small businesspeople, including farmers and craftsmen) are falling, as a result of government inflationary policies. The special reserve status of the US fiat dollar is disappearing.
The elite classhas no worries. It increasingly includes all Federal employees, who now represent the highest paid employees in the nation, with the greatest benefits, all at the expense of taxpayers who cannot keep-up with increasingly expensive basic living expenses. [4]
Prudent leaders would slash government spending, abolishing whole departments and agencies, especially those in charge of Making America Woke instead of Making America Great Again. We must abolish the 87,000 new armed IRS agents; we must defund the other recently armed multiple Federal Police Agencies. They are a clear and present threat to the Republic.
Years ago Ron Paul suggested that, since 'we owe it to ourselves' the Federal Reserve's share of the national debt could be written off. That step would reduce the debt by $6.2 trillion. [5]
Clearly there is no reasonable need to raise the Debt Ceiling.
It is time that the Federal Government spent within our means. Certainly the Head of the Regime claiming the power to dictate the level of the Federal Debt is a clear and present threat to the Republic. We are governed by a Regime that no longer even pretends to govern under the Constitution, making it a lawless Regime.
If Congress fails to gut federal spending the bursting of the bubble will result in a forced restructuring of governance on this Continent.
The Debt Limit should not be raised one fiat penny!
If not now, the time will come when a new generation refuses to be bound by the fraudulent promises of a previous generation's disingenuous politicians.
The clock is ticking...
[1] https://en.wikipedia.org/wiki/History_of_the_United_States_debt_ceiling
[2] https://www.thestreet.com/politics/national-debt-year-by-year-14876008
[3] https://www.thebalancemoney.com/current-u-s-federal-government-tax-revenue-3305762
[4] https://www.justfactsdaily.com/most-federal-employees-are-paid-more-than-their-private-sector-counterparts
[5] https://fred.stlouisfed.org/series/FDHBFRBN
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