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View Diary: Why The Debt Limit Fight Will Be A Political Face-Off With No Gimmicks Or Constitutional Crisis (208 comments)

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  •  I brought that up to address the arguments (11+ / 0-)

    Some have made that this is not a constitutional issue, but rather a conflict between two statutory provisions. The reality as far as the money being spent his concern is that the money actually hasn't been spent until it leaves the Treasury. What has happened is that contracts have been signed which the government is obligated to pay money on. In addition, the government has legally obligated itself to pay many things such as Medicare and Social Security bills. The money hasn't actually been spent yet  the obligation surely exists.

    Further, affiant sayeth not.

    by Gary Norton on Mon Jan 14, 2013 at 10:56:52 AM PST

    [ Parent ]

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