AUG: +151,000 jobs. Unemployment rate steady at 4.9%. AUG details here!.. Jobs since Obama took office?... Unemp. rate under Obama?

Saturday, July 30, 2011

Why There is a Debt Ceiling Crisis

"We are having a debt-ceiling crisis because Congress has given the president contradictory commands; it has ordered the president to spend money, and it has forbidden him to borrow enough money to obey its orders."


So speaks Jack Balkin, Knight Professor of Constitutional Law at Yale.  
******************************
Updated jobs numbers for July on Friday, August 5.Check back then.
******************************
I love his initial paragraph about why we are having this crisis, and I thoroughly appreciate his analysis of the various (creative) strategies that are available to Obama, including a discussion of the 14th amendment possibilities.  

What strategies are open to Obama?

Balkin talks about a trillion dollar coin and a mortgage from the Federal Reserve.  

Read about Balkin's ideas here.

No comments:

Post a Comment

I appreciate intelligent comments and questions, including those that are at odds with anything posted here. I have elected not to screen comments before they are published; however, any comments that are in any way insulting, caustic, or intentionally inflammatory will be deleted without notice. Spam will also be immediately deleted.