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onenote

(46,156 posts)

17. Not at all what I was saying.

Reply to pnwmom (Reply #16)

Wed Jan 25, 2023, 11:45 PM

Jan 2023

We do operate with real money. You know, taxes and borrowed money and all that. There is actual money behind the checks the treasury issues. And if there is no money to back up those checks .... well, that's why not raising the debt ceiling would be catastrophic. Pretending there is money when there isn't won't solve the problem.

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Question re the debt limit: what would happen if Biden issued Executive Orders to agencies [View all] pnwmom Jan 2023 OP

What would the bills be paid with? brooklynite Jan 2023 #1

The government doesn't pass out paper money to anyone, and yet it manages to pay its bills. nt pnwmom Jan 2023 #3

Interesting idea... Ohio Joe Jan 2023 #2

I believe the power to borrow and pay bills belongs to Congress alone. Beastly Boy Jan 2023 #4

Okay, but Congress doesn't issue checks to Social Security recipients, etc. pnwmom Jan 2023 #5

Those checks and all other spending is because Congress authorized it DetroitLegalBeagle Jan 2023 #11

Right. And the money WAS ALREADY appropriated by Congress. Now it's time to pay the debt pnwmom Jan 2023 #12

Mint the trillion dollar coin ... phoenix75 Jan 2023 #13

But aren't those checks backed up by money in the US Treasury onenote Jan 2023 #15

We haven't operated under the gold standard for a long time. nt pnwmom Jan 2023 #16

Not at all what I was saying. onenote Jan 2023 #17

The Federal Reserve decides how much money to print. pnwmom Jan 2023 #18

The debt ceiling is a manufactured nothing burger. phoenix75 Jan 2023 #19

The "trillion dollar coin"? phoenix75 Jan 2023 #6