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Posted by Besoeker 2012-12-01 05:31||
#2 The plan also calls for new powers to raise the federal debt limit..
At the wish and whim of the President/Executive. Printing money without controls is just another form of taxing. It takes value out of existing money by debasing its ratio of backing/value to amount in circulation. In essence, with an unlimited authority to 'print' the King no longer needs Parliament to run government. That is indeed a transformative act to change America back to when it was but a backwater to London and royal prerogatives.
Posted by Procopius2k 2012-12-01 09:32||
#3 Republicans are damned if they do and damned if they don't. They'll take the blame if we go over the cliff but if they let His Majesty have His way they will have nothing left to do but watch as the consequences unfold.
Boehner: Mr. President, do you like travel?
Obama: Why, yes I do. You know how much I enjoy jetting around the world with the taxpayers footing the bills.
Boehner: Mr. President, do you like sex?
Obama: Well, that's none of your business but, uh, yes.
Boehner: Then you can take a fucking hike.
Posted by Abu Uluque 2012-12-01 10:33||
#4 The plan also calls for new powers to raise the federal debt limit
Specifically, Ogabe wants to transfer the power from Congress to himself. Awesome: let him have it, and make him own it. It won't matter anyway. Foreign markets will set a limit on how much more the US can borrow. With the debt already at $16.3 trillion and climbing - and the commensurate decreasing likelihood that any of it will ever be repaid - we don't have much borrowing capacity left. When it's gone, the US will default and trigger a global finanical meltdown. Let that be Ogabe's legacy, so we don't ever make this mistake again.
Posted by RandomJD 2012-12-01 16:23||
#5 Omugabe is woefully ignorant of economics. However, he does know something of Tony Rezco type (Chicago) economics.
Posted by JohnQC 2012-12-01 18:14||
#6 ROFLMAO, Abu!
You owe me a new monitor. ;-p
Posted by Barbara 2012-12-01 19:35||