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Tag Archive: Debt Ceiling


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Congress Declares Martial Law as Dollar Rapidly Collapses

dollar collapseBy Mac Slavo

The debt ceiling issue is returning to the forefront in American politics, again threatening a government shutdown.

Last time, the shutdown resulted in sequester for many agencies that suspended work for many government employees; a great deal of political theater dominated the news cycle; but ultimately, things returned to a basic normalcy.

This time may be different, as a number of critical factors face Americans in 2015. Last week, Congress passed “procedural martial law” to address stop-gap spending as it faces the debt ceiling crisis again.

Meanwhile, this quietly announced martial law forced a vote on bills the same day, preventing members from even reading the legislation they were voting on, to avert an October 1 government shutdown. The move, which was done just a few weeks prior, shows how desperate things have become.

The Hill reported:

For the second time in a month, the House on Tuesday invoked “martial law” to allow more expeditious consideration of a stopgap spending bill to avoid a government shutdown on Oct. 1.

The use of martial law refers to bypassing the typical procedure that requires the House to wait a day after the Rules Committee produces a rule establishing floor debate parameters before voting.

[…]House GOP leaders invoked martial law earlier this month to fast-track a spending bill. But they ultimately never had to use it after the Senate opted to go first with the spending bill.

Crisis is averted – for now.

But the dollar is now an unwanted export commodity. As the U.S. rattles sabers with Russia in its proxy wars, the basis for American power overseas is rapidly collapsing.

China is ready to move forward with a “global reset” that would include the yuan in a global basket of currencies, and knock the dollar out of its reserve currency status.

Increasing troubles of U.S. and government financial institutions gives a sharp warning that things are coming to a head.

SGT Report issues a critical and under reported warning: “We are living in the last days of this Republic.”

 

Read More Here

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Devastating Trump Card

Business Insider

bridge cards trump card

Bruno Vincent/Getty

The shutdown battle has become, essentially, a high-stakes blame game.

Republicans tried to raise those stakes yesterday by offering a piecemeal plan to reopen popular parts of the federal government, in the hopes that it would be politically costly for the Democrats to oppose things like aid to veterans. The bill failed to move forward.

But in a note to clients, Potomac Research Group’s Greg Valliere says that President Obama still has one “trump card” of his own left to play, Social Security:

THE HEAVY ARTILLERY:  We have thought for weeks that Obama would play the Social Security trump card if there was no deal on the debt ceiling by mid-October. This is one of several reasons why we think a default is unlikely, and it’s one of several reasons why Boehner will capitulate; the only questions are when and under what terms. We think he may get a few crumbs, but no major concessions.

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Obama Just Played His Big ‘Trump Card’ On The Debt Ceiling

Business Insider

Brett LoGiurato Oct. 3, 2013, 11:59 AM
Barack Obama
Early Thursday morning, Potomac Research Group analyst Greg Valliere predicted that if the debt-ceiling deadline grew closer, President Barack Obama would play his “trump card” in the debate. He would remind seniors that if Congress doesn’t raise the debt ceiling, seniors wouldn’t get their Social Security checks.”GOP strategists like Karl Rove surely know that it’s just a matter of time before President Obama throws a game-changer — warning senior citizens that their Social Security checks won’t be mailed because of John Boehner,” Valliere wrote in a note to clients.A few hours later, Obama did just that during a speech at M. Luis Construction Company in Rockville, Md. He spent much of the speech warning that while the ongoing government shutdown was damaging, failure to raise the debt ceiling by an Oct. 17 deadline would be even worse.

“In a government shutdown, Social Security checks still go out on time. In an economic shutdown — if we don’t raise the debt ceiling — they don’t go out on time,” Obama said. “In a government shutdown, disability benefits still arrive on time. In an economic shutdown, they don’t.”

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