Sadly hilarious, in a predictable way…. we are only four days into the new year and already it appears five of our ten predictions for 2013 will come to fruition....
WASHINGTON — Senate Majority Leader Harry Reid (D-Nev.) has privately told other Democrats, including President Obama, that if the administration used its constitutional and executive authority to continue paying its debts in the face of House Republican opposition, he would support the approach, according to a source familiar with Reid’s message to the president.
The simplest escape route out of the debt ceiling impasse is for the president to direct the Treasury to find a legal way to pay its debts. The Treasury then has a variety of options. One gaining particular attention relies on a law that allows the Treasury to mint a coin of unspecified value and deposit it with the Federal Reserve. Those funds could then be used legally to pay debts. (more…)





