Congress Must Pay Bills!
Our Constitution gives the power to make laws to the congress. All bills that pass Congress remain law until repeal or expiration. Most laws passed require money be expended in order for it to be implemented. There is no provision in the Constitution that automatically voids laws or appropriations of prior Congresses.
Congress also has the responsibility, both moral and legal, to pay the debts and obligations of the United States as agreed. The sources of funds to pay such agreed to debts include taxes, borrowings, savings or other revenue generating activities. This is no different from the average household in this country.
McConnell's "last Choice Option" reminds me some of Pontius Pilate.
When a family buys a new house, they usually obtain a loan secured by a mortgage and they make payments over the life of the loan. If the family’s income decreases, they must continue making their payments. If the value of their home decreases, they still are obliged to make their payments.
Why does Congress believe it has the right to manage their debts differently that its citizens?
The credit score of the United States is declining because of the lunacy of Congress
just a person
July 14th, 2011
Time for the govt to recognize that people come first. Paying interest is just another bailout. If social security payments are cut and we continue to pay interest to the banks who own Tbills (the same banks we had to bail out) then we are throwing good money after bad. Time for our government to realize they are playing in two worlds- the real world of finite life and death and the imaginary financial world where there is an infinite ability to wager, leverage and bet on the outcome of other bets.
Maybe we need two currencies- the money earned by real work from real people with values determined by the real market. And a currency for financial transactions in the financial world. And these two should stay separate with NO EXCHANGE RATE BETWEEN THEM. Federal government was implemented to help people, not corporations.