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In reply to the discussion: Sanders to vote against debt bill, says Biden should invoke 14th Amendment [View all]Uncle Joe
(64,738 posts)30. sheshe..
if there is one thing the Republican Party worships, it's money and they're not going to totally trash their personal, family and community fortunes because there are insane maggots in their midst.
They Republican Party worked too hard in giving the mega-wealthy tax cuts when *rump was in power, they're not going to throw that away.
The stock market would absolutely tank and 89% of that is owned by the wealthiest 10%
The dollar would become all but worthless.
The wealthiest 10% of Americans own a record 89% of all U.S. stocks
The wealthiest 10% of American households now own 89% of all U.S. stocks, a record high that highlights the stock markets role in increasing wealth inequality.
The top 1% gained over $6.5 trillion in corporate equities and mutual fund wealth during the pandemic, according to the latest data from the Federal Reserve.
The bottom 90% of Americans held about 11% of stocks, and added $1.2 trillion in wealth during the Covid-19 pandemic.
https://www.cnbc.com/2021/10/18/the-wealthiest-10percent-of-americans-own-a-record-89percent-of-all-us-stocks.html
Businesses would close, people would lose their jobs and real estate would fall as well.
There is no doubt they would go down in flames despite whatever safety mechanisms some of them have.
So I don't see any way, they would appeal what is a crystal clear statement of the 14th Amendment.
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Sanders to vote against debt bill, says Biden should invoke 14th Amendment [View all]
Uncle Joe
May 2023
OP
The 14th is actually part of the Constitution, the debt limit is just a form of
Uncle Joe
May 2023
#7
They are necessary to remind us that deals like this are the exception based on terrorists
ColinC
May 2023
#11
We have a rogue court...so we can't be sure that if we use the 14th it will stand. I was right
Demsrule86
Jun 2023
#38
It could allow our Republic to be destroyed and fascism imposed. We came damn close in the 30's to
Demsrule86
Jun 2023
#43
I think what bernie is doing here is boosting the idea that our president has the authority needed
questionseverything
May 2023
#19
Senator Tim Kaine intends to introduce an amendment against the pipeline in his state
Rhiannon12866
May 2023
#26
There can be no amendments so it won't change...as you said Kabuki theater...
Demsrule86
Jun 2023
#39
For the Republicans that is certainly true...but Democrats know what breaching the deb ceiling
Demsrule86
Jun 2023
#42