'House Republicans walk the plank'

[nailer]

Originally Posted by Rajoo

Wishful thinking. Doubt very many of their constituents even understand national debt, debt servicing let alone debt ceiling and implications of a default. Moneys have been appropriated with Congressional authority and expended, so this now amounts to the Congress now saying you cannot have the money to pay your bills. Constitution does not give them the authority to renege on paying the bills, so I am not even sue there is a methodology to resolve this. Time will tell is not a good answer because we are running out of time, but of course the Freedumb crackers now believe the government have till September.

Adding to our misery, Feds plan on increasing the interest rate by another quarter point next week.

The Federal Reserve is the central banking system of the United States and was created on December 23, 1913, with the enactment of the Federal Reserve Act of 1913, not a Constitutional amendment. Pretty sure the Constitution is not applicable.

More inflation or higher interest rates, pick your poison. I'll take higher rates over more inflation every day of the week and twice on Sunday. Not planning on borrowing any money until after I die and will be spending it on a myriad of consumer products until I do.