#us treasury – @thesmithian-blog on Tumblr

if we get to Oct. 17 and the Repubs are still holding the nation hostage, the President has only one option: He must ignore the debt ceiling and order the Treasury to continue to pay all the nation’s bills. He should rely on Section four of the Fourteenth Amendment to the Constitution, which says the 'validity of the public debt of the United States, authorized by law…shall not be questioned'...

Robert Reich, at Guernica

#republicans #united states #presiden obama #us treasury #fourteenth amendment #The Constitution #politics #robert reich

The Smithian

'...what happens when U.S. treasuries are no longer considered safe, Americans can no longer be counted on to pay its bills, and the nation's most powerful economy chooses to default on purpose? The world starts reevaluating old assumptions, that's what..