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View Full Version : U.S. Issues The 14th and the Debt Ceiling


petegz28
07-12-2011, 12:46 PM
I heard today that the 14th allows the Treasury to borrow without congressional approval to meet the country's debt obligations. Is that true? Wouldn't that make this debt ceiling bit all a bunch of theater? If the Treasury can borrow because they must meet the debt obligations via Constitutional decree then WTF is all the talk about going into default?

What am I missing?

Cave Johnson
07-12-2011, 12:49 PM
The search function, apparently.

http://www.chiefsplanet.com/BB/showthread.php?t=246661&highlight=14th+amendment

VAChief
07-12-2011, 12:53 PM
I would think that would still drive up interest rates which would likely take a lot of cash out of the economy. Where did you hear it, you could be correct, nothing would surprise me at this point.

petegz28
07-12-2011, 12:58 PM
I would think that would still drive up interest rates which would likely take a lot of cash out of the economy. Where did you hear it, you could be correct, nothing would surprise me at this point.

Was flipping channels in the car, I think Bloomberg radio or CNBC radio...