Discussion: House GOP Brings Back Debt Ceiling Cop Out Bill For A Floor Vote This Week

Discussion for article #241902

Chair Paul Ryan (R-WI) claimed the bill “takes default off the table".

And he’s supposed to represent the Adults in the republican party.

The next reporter who claims that Ryan is a numbers-wonk who should be taken seriously needs to be fired post-haste.


Ryan is a numbers wonk … until there are actual numbers to deal with.


This bill should be called the “Default Acceptance Act”

Note to wingnuts: If you say that you will pay only some of the debts to which the U.S. is obligated, you are signalling that you are welcoming default. There is no such thing as being partially in default, just as one cannot be just a little bit pregnant.


So speaks a pure 100% phoneeee. No intellect required or used.


What sucks about the GOP hitting ‘rock bottom’ is that, like an alcoholic parent, they’ll take everyone with them …


Even if the Treasury Department could do this, how does this even come close to solving the default issue? The federal government consists of a lot more than just Social Security and debt payments. Ryan’s going to spike the football and claim victory on this?? Maybe he is the perfect replacement for Boehner after all.


This is just as it says, a cop out.I am expecting to see the ignorant and hateful GOP shutdown the GOV and basically screw over the whole world.When there is a shutdown the World suffers not just us in USA.I am also waiting for other nations to grow a few and do something against the GOP for their hissy fit shutdowns.Maybe refuse to sign some treaties with us…maybe some other action.I bet they must also be worried about their savings and business stuff.

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Boehner’s gonna grow a pair in 3-2-1…

Ryan is supposedly a Budget and Numbers guy? This is bullshit, one can’t pay debt for some liabilities and not others and not default. Maybe he should take the Speakers Chair because he would flunk Acct and Finance 101.


Thanks to citizen’s unite they can make campaign contributions to help remove the GOP. On the other hand any reasonable person in the world of Finance will call this what it is - BULLSHIT.

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I was hoping they were just going to do away with the debt limit, that would prevent this sort of default ever happening again. As it is, it would mean that each budget fight would need to happen twice.

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Laws? We don’t need no stinking LAWS!
We just pass “Turd-Polishing” bills to cover our ass politically, never mind the REALITY of how the Treasury Dept. actually does it’s JOB.

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LOL. So they want to enact legislation that will make it “safe” for them to refuse to raise the debt ceiling and essentially allow them to selectively shut off everything but the parts of the gov’t that they really need to continue running lest they be the focus of severe outrage and blame for peoples’ anguish? Hilarious. It doesn’t seem to me that you could get anyone at Moody’s or anywhere else to say anything but “this changes nothing and refusal to raise the debt ceiling will continue to kill the nation’s credit rating.” How about you check, TPM?


Translation: House Bill “OMG There’s a Blacky in the WH” is up for its 4,392nd vote.


“We don’t have the capacity to pick and choose, ‘We’ll pay this bill and not that bill.’ The systems were not set up for that purpose,” Treasury Secretary Jack Lew said…

What a load of hogwash, Secretary Lew. Everyone knows that the Federal Budget is exactly like a household budget.

Oh? What is that? You say it is completely different from a household budget?

Never mind


I thought the polite term was darkie?

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Once again, Republicans are making everything worse by imagining that they can have their cake and eat it too. In this case, they want to use the threat of a default to blackmail the grownups in Washington to give them what they want, but without taking the blame for all the negative consequences of threatening a default.

But sorry guys, it’s either one or the other. If you want to use dangerous policies in order to force the country to give in to your demands, then you also get the blame for doing that. And the overall problem is that these morons are so stupid that they imagine they’re geniuses because they can easily solve problems just by ignoring reality and going against common sense. They’re like small children who first learn to lie and then get confused when nobody believes what they’re saying. But…actions have consequences, no matter how much you think you can ignore them.


Even though I am a progressive, I must admit the Democrats are LYING just as much a the Republicans on this matter!

I am a computer programmer who helped convert our Federal accounting and banking system after we left the gold standard to reflect that as a monetary sovereign our Treasury issues are no longer a “liability” but an “asset” since the issues themselves are money by fiat.

As a result of existing laws like the debt ceiling the government had to invent a new definition for “debt”, since Treasury issues are now money so they decided to call the aggregate of the face value of unmatured Treasury issues the new “national debt” even though these issues will pay themselves off at maturity because they are money by fiat just like those little green papers in your wallet are.

The government checking account at the Federal Reserve is unlike any other checking account because its balance is not aggregated from deposits minus withdraws, it is instead infinite because monetary sovereigns cannot become bankrupt nor bounce checks in its own currency as Alan Greenspan said at this conference:


When a bank cashes the a check issued by Treasury to a government supplier from its infinite balance checking account, the money is created from thin air at that time and it is called M2 money and it gets created every second of every day and not a single cent of tax money is used or needed…


On the flip side when you send a check to the Treasury the money is removed from the supply and destroyed since the Treasury checking account, has an infinite balance, and infinity minus a finite number is still infinity, so again not a single cent of your taxes pays for the government bills.

Duh - The real fear of default from the 1% is that the 99% will be able to narrow the gap between them be demanding that Federal taxes be eliminated since they don’t fund the government anyway since it pays for all its bills with new M2 money anyway!


every one of these republicans should be 2nd Amendment. i’ve gotten to the point they all need to be put down