McCarthy has “productive” talk with Joe Biden about the debt ceiling
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I guess the word of the day is productive. Yes, yes. The Biden administration, Ken McCarthy, saying that he had productive talks with Joe Biden yesterday. Let me make this perfectly clear to everybody. There’s not going to be any damn default. Not going to be one. This is all a show. This is made for TV.
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Okay. The business networks, you name it. Want to talk about this? Are we going to default? How does this make the United States look? It’s horse manure. I am amazed to this day at what the general public actually, actually still believes what our fearless leaders and the mainstream media tells them. I it’s, it’s extraordinary to me. It really is. First and foremost.
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I want to allude to Ted Cruz this morning, he’s on CNBC. And he’s being interviewed and he basically gave the same assessment of Biden and the Biden administration that I have. Joe Biden is not running the country. He’s not running the country. He’s there as a figure. Why do you think these big Hollywood types and big libs want him to win?
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They have more power than ever. You’ve got a president that’s not making decisions. Ted Cruz was talking about the fact, saying you can’t even get that, he won’t even speak to anybody. He is so micromanaged, they won’t let him speak to anybody and speak to anybody in the Senate, doesn’t speak to anybody cause he’s managed, because he can’t.
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Um, yeah, I alluded to the the boomerang movie that I happened to love from the 1990s Eddie Murphy movie. He’s Lady Eloise. He’s just the name on the package.
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What are we watching right now from Janet Yellen and these people that keep warning us about what’s going to happen next? First and foremost, Janet Yellen needs to do her damn job. Her job right now is to organize the books and prioritize basic, that’s her job right now. Biden keeps threatening to invoke the 14th Amendment. And again,
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The media plays along with this, but obviously they don’t even know what the 14th amendment is. They obviously haven’t looked into the Constitution. Joe Biden cannot issue more debt. Period. The end. He can’t do it. This is his line. I’m looking at the 14th amendment as to whether or not we have the authority. I think we have the authority. This was at a press conference at the G7.
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And I got a sinking suspicion that the other leaders, members of the G7 probably have a better idea what the 14th Amendment is than Joe Biden does. Again, Section 4, Section 4 of the Amendment says, and I quote, Validity of the public debt of the United States authorized by law shall not be questioned. Okay.
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The treasury can’t say, I’m not gonna pay.
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It’s in our Constitution, the only reason why we have the World’s Reserve currency, is that it is illegal, illegal for us to repudiate any debt held by the public. Can’t do it. So Janet Yellen has to do is she has to make some tough decisions. She has to prioritize.
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Okay, so again, because she has to pay this, they can’t default. Janet Yellen has to, again, pay the interest on the debt. There was a editorial in the Wall Street Journal, David Rifkin, Lee Casey, Supreme Court case, Perry versus the US, this is 1935. And it had to do with the 14th Amendment covering all sovereign federal debt.
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Congress decided during the Great Depression to begin paying federal bonds and currency, including those that promised payment in gold. Bondholders sued to receive payment in currency equal to the gold value of the notes, and the Supreme Court agreed. Basically saying Congress violated the 14th Amendment’s public debt clause. Now, the left and the mainstream media out there, again, at date,
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They love kings. They like, and they always talk about, you know, dictators and authoritarian. No, no, they love that crap. They love it. If they could have, if they could have made Obama king, they would have done it. Anyway, progressives seem to think that the president can issue new debt without the consent of Congress. Can’t. Just because Congress approves spending.
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doesn’t mean the president can issue new debt on his own authority to finance it. He can’t issue new debt on his own to finance Medicare. Okay, this is from Wall Street Journal today. So article one of the constitution makes clear, power belongs to Congress, nor can the president issue new spending or forgive federal loans without Congress’s statutory approval. Again, this is part of the whole, you think about this is student loan.
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situation we’re dealing with right now. This unilateral forgiveness of student loans. I don’t see how that’s legal based upon the United States Constitution. But anyway, let’s neither here nor there. Let’s do some numbers for everybody, shall we? Okay. You’re still paying taxes? I’m still paying taxes. I make my quarterly payments. I’m still writing checks to the government along with everybody else, all the other taxpayers. Well,
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You know, those people, we the people that actually pay federal income taxes and all that good stuff. But anyway, federal tax receipts in March, $313 billion. $313 billion a government took in in March. You want to know what the interest payments were on our debt? $67 billion.
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More than enough money not to default on any debt. April, $639 billion in revenue came into the Treasury. Interest on the debt was $62 billion.
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Again, Janet Yellen has to do her job. Let’s put it this way, okay? Let’s say, let’s say, God forbid, something happens, somebody out there doesn’t have a rainy day fund or whatever it may be, a storm comes by, rips the roof off your house. That person doesn’t have, home insurance doesn’t cover it all.
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They have a limited amount of money that’s coming in. Okay, need to make some adjustments in the budget. Have to prioritize, gotta prioritize, gotta roof over your head, right? Gotta ruin everything else, gotta have a roof over your head, gotta do that. You might have to cut out maybe some of the streaming services and change some things in your budget, and that’s what’s gonna happen. Sure, there’s no doubt, I mean, government workers are gonna be
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furloughed, if this is the case, happens every single time. And what does it end up turning into? Quite honestly, it ends up turning into a paid vacation. They eventually raise a debt ceiling, they make good on all the money that wasn’t paid to government workers, and they got a paid vacation, free. Anyway, all of the hullabaloo, all of this is nonsense. More than enough money to make good on our commitments. Watchdog on Wall Street.dot com.