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The Water Cooler
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Sooo,What you guy's think will happen
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<blockquote data-quote="Werewolf" data-source="post: 1576034" data-attributes="member: 239"><p>Contrary to what the maroons in the media are saying a default is not unconstitutional.</p><p></p><p> </p><p></p><p>The part referred to above from Article VI is referring to debts the government ran up during the Revolutionary War and that it ran up when the US operated under the Articles of Confederation.</p><p></p><p>The key to understanding that is the phrase; <strong>All Debts contracted and Engagements entered into, <span style="font-size: 12px"><span style="color: red">BEFORE</span> the Adoption of this Constitution</span>...</strong></p><p></p><p>That clause was added to mollify bankers who were worried that they would be stiffed by the US on existing debt. Not an unreasonable concern considering that with the adoption of the Constitution we became a new nation.</p><p></p><p>It really is not all that difficult to understand. I can see why smarmy lying politicians would want people to believe a default is unconstitutional but why anyone else with at least a 6th grade education who can read would believe it is beyond me. Sometimes I think a whole lot of parents should demand a refund from the state for the crappy education their kids got at state schools payed for with their taxes.</p></blockquote><p></p>
[QUOTE="Werewolf, post: 1576034, member: 239"] Contrary to what the maroons in the media are saying a default is not unconstitutional. The part referred to above from Article VI is referring to debts the government ran up during the Revolutionary War and that it ran up when the US operated under the Articles of Confederation. The key to understanding that is the phrase; [B]All Debts contracted and Engagements entered into, [SIZE="3"][COLOR="red"]BEFORE[/COLOR] the Adoption of this Constitution[/SIZE]...[/B] That clause was added to mollify bankers who were worried that they would be stiffed by the US on existing debt. Not an unreasonable concern considering that with the adoption of the Constitution we became a new nation. It really is not all that difficult to understand. I can see why smarmy lying politicians would want people to believe a default is unconstitutional but why anyone else with at least a 6th grade education who can read would believe it is beyond me. Sometimes I think a whole lot of parents should demand a refund from the state for the crappy education their kids got at state schools payed for with their taxes. [/QUOTE]
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