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| Jeff Bingaman |
"President Obama is working very hard to make sure the debt ceiling is raised so that Social Security checks are disbursed on time. The president recently said that, without raising the debt ceiling, he could not guarantee that Social Security checks would go out on August 3. Without an agreement in place by August 3 to raise the debt ceiling, the nation's financial obligations would outstrip the nation's incoming revenue, and we would not be able to meet our financial obligations. In August alone, we would face a $134 billion shortfall.
The president would have to choose which financial obligations to pay, deciding between paying the interest on U.S. Treasury bonds or benefits for our seniors, paying troops or providing veterans benefits, disbursing student loans or providing loans to small businesses to make payroll, and many other difficult choices between obligations. Not paying all of our bills could hurt the United States' credit rating, just like what would happen to a person's credit rating if he paid his mortgage but not his car payment. Not paying all of our bills could be equivalent to defaulting on our debts. Picking and choosing which bills to pay is not a realistic option." Go to Bingaman website here: News New Mexico
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2 comments:
I must assume that the people we hav elected to serve us are IGNORANT about the Constitution. The President is granted absolutely no authority to be involved in debts, budgets, or expenditures EXCEPT that the President has taken an oath to execute the laws of the Union faithfully.
Congress makes the budgets. Congress makes the laws that allow for payments to be made.
The President has no authoirity to not do what the law says. If the President does not faithfully execute the laws fr any reason, he has committed an impeachable offense against the People of the United States.
Even the 14th Amendment applies to CONGRESS. It is not the President's prerogative to "invoke" the 14th.
Congress must get the President under control. We the People are the most superior, being over even the Constitution. The Constitution is the next in line over the government. And Congress is the President's boss. If you are not sure who's the boss, ask yourself, "Who can fire whom?" You should answer that ONLY Congress can remove a President. Only Congress can remove a judge. No reciprocal powers exist.
Bingamin is a liar. Social security payments will go out and interest payments on the national debt will be paid first. There IS enough money. This is all political theater.
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