The ‘Debt-Ceiling’ Fiction: Republican PAYMENT Ceiling is UnconstitutionalThere is no ceiling on the debt. The debt has already been incurred. Should August 2 come and go without Congressional action, then what
Bachmann and other teabaggers like
Jim DeMint suggest is that the US can keep paying the interest it owes on its debt, thus avoiding any default on that, while the US picks and chooses which other debts and obligations it will continue or cease to pay at its own discretion.
It would be rich watching Bachmann, DeMint et al trying to explain to defense contractors, military families, or elderly Medicare and Social Security beneficiaries how their failure to get paid the money they’ve already been promised by Uncle Sam is some other animal than the one called default ...
Article:
http://beeryblog.wordpress.com/2011/07/10/the-debt-ceiling-fiction-republican-payment-ceiling-is-unconstitutional/