MB Civic

Roberts in CounterPunch ..

Regardless of whether the debt ceiling is raised, the US government is not going to go out of business. Why does anyone think that the President, who does not obey the War Powers Act, the Foreign Intelligence Surveillance Act, US and international laws against torture, or any of the laws and procedures that guard civil liberty, is going to feel compelled to obey the debt ceiling? .. Moreover, the Federal Reserve is independent of the government. In its approach to regulatory matters and bailouts, the Fed has ceased to follow its own rules. Regardless of the debt ceiling, the Fed will continue to purchase the Treasury’s bond issues, and the Treasury will continue to fund the federal deficit with the proceeds. If Goldman Sachs is too big to fail, certainly the US government is

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