These same forces
and their descendants are at work today.
If there is a better scenario for abolishing the New Deal and the Great Society than ramming it through under the cover of the debt ceiling fight, I cannot see it. If these traitors to our democracy are successful, there will be a windfall for their plans for more wars, bailouts, tax cuts and privatization of the public commons.
Meanwhile, the US AAA credit rating has been put on notice by S & P in the wake of the debt ceiling uncertainty. The dollar's value is going down and the price of gold is going up.
Will this be enough to 'soften up' the public to accept these draconian cuts to their social safety benefits? If not, it will be revisited in 6 months in another fight over the debt ceiling. Count on it.
It looks as if the only way out of this is for the president to use the powers given him under the
14th Amendment to raise the debt ceiling, before August 2.
It is very troubling why he is so
resistant to using this power.
July 22, 2011
(Reuters) - President Barack Obama said on Friday he discussed with White House counsel whether the 14th Amendment offered an alternative to raising the $14.3 trillion debt limit, and they concluded it did not.
"There is a provision in our Constitution that speaks to making sure that the United States meets its obligations and there have been some suggestions that a president could use that language to basically ignore that debt ceiling rule, which is a statutory rule," Obama told a town hall meeting.
"I have talked to my lawyers, they are not persuaded that that is a winning argument," he said.
We are beyond trying to "win an argument", Mr. President.
We are facing national collapse.
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