informationliberation
The news you're not supposed to know...




Austrian Economics: Understand Economics, Understand the World
The Century of the Self: The Untold History of Controlling the Masses Through the Manipulation of Unconscious Desires
The Disappearing Male: From Virility to Sterility

The Obama Deception: The Mask Comes Off
Operation Gladio: The Hidden History of U.S. Sponsored False Flag Terrorism in EuropeThe New American Century: The Untold History of The Project for the New American Century
(more)
Article posted Jun 02 2011, 11:55 PM Category: Commentary Source: Paul Craig Roberts Print

Hail Caesar

by Paul Craig Roberts

Although the financial press speculates about a downgrade of the US government's credit rating and default if political impasse prevents the debt ceiling from being raised in time, I doubt anyone really believes that the debt ceiling will not be raised. It is just all a part of the political theater of the next couple of months.

Republicans will blame the budget deficit and accumulated national debt on Medicare and Social Security. Wall Street sees billions of profits in privatizing either, and debt rating agencies will oblige their Wall Street paymasters by opining from time to time that US Treasury bonds might be downgraded unless "entitlements can be addressed and the deficit brought under control."

Democrats will say that the budget deficit cannot be addressed without an increase in tax revenues, especially from the rich whose incomes have exploded upward while their tax rates have declined.

All the while the pressure of an approaching deadline for default will be used to reshape the US social contract, most likely in the further interest of the rich.

However, 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?

As long as the US is at war, the American President is a Caesar. He is above the law. The US Justice (sic) Department has ruled this, and Congress and the Courts have accepted it.

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.

As Congress has abandoned its powers over war, how can Congress hold on to its powers over spending? It cannot. Indeed, an impasse between the political parties over the debt ceiling would be welcomed by the executive branch as more proof that Congress is incapable of doing its part in governing and, therefore, the task has of necessity passed to the executive branch, which already does most of it.

If the President can declare on his own authority, without statutory basis and in defiance of the US Constitution, that he can assassinate US citizens who he considers to be a threat to national security, he certainly can declare that default is a threat to national security and that it is within his powers as commander-in-chief to ignore the debt ceiling.

Indeed, the executive branch would jump at the chance. Then it could reshape the budget to its own pleasing without having to consult Congress on spending any more than the executive branch consults Congress on war.

The Bush/Cheney regime brought democracy and accountable government to an end. If Obama doesn't finish the process, the next in line will.
__
Paul Craig Roberts [send him mail], a former Assistant Secretary of the US Treasury and former associate editor of the Wall Street Journal, has been reporting shocking cases of prosecutorial abuse for two decades. A new edition of his book, The Tyranny of Good Intentions, co-authored with Lawrence Stratton, a documented account of how Americans lost the protection of law, has been released by Random House.

Copyright 2011 Paul Craig Roberts





Latest Commentary
- False Flags, Biker Gangs, and the PATCON Legacy
- Is the Liberland Experiment Viable?
- The Prohibitionist Song Remains the Same
- Five Bogus Excuses for Opposing Freedom
- Why Was Osama bin Laden Killed and Not Captured?
- Further Confirmation of Hersh and Why bin Laden Was Murdered
- Support Your Local Private Peace Officer: He Has A Dangerous Job
- 'We the People' Need to Circle the Wagons: The Government Is on the Warpath









No Comments Posted Add Comment


Add Comment
Name
Comment

* No HTML


Verification *
Please Enter the Verification Code Seen Below
 


PLEASE NOTE
Please see our About Page, our Disclaimer, and our Comments Policy.


FAIR USE NOTICE
This site contains copyrighted material the use of which in some cases has not been specifically authorized by the copyright owner. Such material is made available for the purposes of news reporting, education, research, comment, and criticism, which constitutes a 'fair use' of such copyrighted material in accordance with Title 17 U.S.C. Section 107. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner. It is our policy to respond to notices of alleged infringement that comply with the DMCA and other applicable intellectual property laws. It is our policy to remove material from public view that we believe in good faith to be copyrighted material that has been illegally copied and distributed by any of our members or users.

About Us - Disclaimer - Privacy Policy



Advanced Search
Username:

Password:

Remember Me
Forgot Password?
Register

Planes, Trains, and Automobiles: None Are Safe from the State's Plundering Parasites - 05/22Charges Dropped Against Cop Caught Having Sex With Cows - 05/21Baltimore Cop Given Just 6 Months; Assault Victim Speaks Out - 05/22Innocent Bystander Attacked by Police K9 In Fresno - 05/21Indiana Cops Arrest Man for Asking for Their Badge Number - 05/21Pennsylvania Limits Secondary Questioning During Traffic Stop - 05/22New Police Radars Are Being Used To 'See' Inside Homes - 05/08John Ashcroft Supports Government Theft - 05/22

Man Follows Speeding Cop, Finds Out He Was Speeding To Buy PeanutsMission Creeps: Homeland Security Agents Confiscate Women's Panties For 'Copyright Infringement'Cop Shoots Couple's Dog, Threatens Jail For Trying To Save Dog's LifeSWAT Team Shoots Teen Girl & Her Dog During Pot Raid On Wrong HomeDurham, NC Cop Testifies Faking 911 Calls To Enter Homes Is "Official Policy"Indiana Sheriff Says US A "War Zone" To Justify New MRAP Military VehicleTampa Cops Surveil Pot Dealer, Catch Him Selling Pot, Raid His Home & Kill Him"You Just Shot An Unarmed Man!": Witness Says Police Shot His Friend With His Hands Up
(more)

 
Top