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Debt Ceiling & Repudiation

• Free Patriot Press
The debate in Washington, D.C. over the federal debt continues as the Aug. 2 deadline for raising the “debt ceiling” approaches. Standard & Poor's has already reported that it would cut the U.S. credit rating from AAA to D, the last rung on its scale. John Chambers, chairman of the company's sovereign rating committee, says, “If any government doesn't pay its debt on time, the rating of that government goes to D. Having said that, we think the government will raise the debt ceiling. They've raised it 78 times more or less since 1960, often at the last moment, and we think that will be the case this time.” Chambers is probably correct, the Republicans and Democrats in Congress will put on a facade of not being able to agree, yet consistently work together in their own self interest to get bills passed. One need only look back to the 2008 passage of TARP (Troubled Asset Relief Program), commonly called the “banker bailout.” TARP was supported by both major party Presidential candidate

1 Comments in Response to

Comment by Charleston Voice
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The 14th Amendment was never ratified. If the Teapartiers did their homework, they'd have known the 14th is un-Constitutional to begin with:

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