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Cicadas are back and so is the debt ceiling

Joe Firestone wrote a piece earlier here at Correntewire to report that strange doings are afoot at the Circle K House of Representatives.

On May 9, 2013, The Republican House passed H.R. 807 the Full Faith and Credit Act. The Bill says in part:

(a) In General- In the event that the debt of the United States Government, as defined in section 3101 of title 31, United States Code, reaches the statutory limit, the Secretary of the Treasury shall, in addition to any other authority provided by law, issue obligations under chapter 31 of title 31, United States Code, to pay with legal tender, and solely for the purpose of paying, the principal and interest on obligations of the United States described in subsection (b) after the date of the enactment of this Act.
(b) Obligations Described- For purposes of this subsection, obligations described in this subsection are obligations which are--
(1) held by the public, or
(2) held by the Old-Age and Survivors Insurance Trust Fund and Disability Insurance Trust Fund.

Read below the fold...
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"Do Not Kill” list petition

This is too awesome (h/t Glenn Greenwald)

We petition the Obama Administration to:

Create a Do Not Kill List

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Why I Voted for Ron Paul

Even though I disagree with his economics for the most part (my views are more in line with another candidate-- whom I will do a favor and not name-- who has a long record of supporting Keynesian economics), I just got back from voting for Ron Paul in the GOP presidential primary.

The reason I did is simply because Ron Paul is the only candidate who rejects the idea that the President of the United States has the legal authority to assassinate any or all of the People of the United States, something Attorney General Eric Holder had the balls to defend publicly... Read below the fold...

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4 Ways to Change the Fed

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"Occupy Wall Street" is too vague, here are two specific places to camp out


I think the Occupy Wall Street crowd would have done better to come up with a specific target and with a specific goal that could create allies across the political spectrum (transpartisan reform as Jame Hamsher would call it).
For example, don't Occupy Wall Street, Occupy 55 Water Street the home of both Standard & Poor's and DTCC and then (for reasons I'll explain below) Occupy the Eccles Buiiding in DC. Or rather ( to avoid trespassing charges), the sidewalks abutting Water Street and the Fed headquarters. The goal should be this: Tax financial economy to pay for tax relief of real economy.
First of all, what praytell is DTCC? Let's consult the oracle of wikipedia:
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Interesting article: A Dictator's Handbook for the President

I came across an interesting article in Foreign Policy by game theory guru Bruce Bueno De Mesquita (with Alastair Smith).
A Dictator’s Handbook for the President
To win in 2012, Obama’s going to have to act a bit more like the tyrants he’s so proud of toppling.

De Mesquita is cynical but certainly makes some interesting points. His "Rule 5" left me suspecting that perhaps Obama's strategy of taking money out his supporter's pockets to make people's lives worse is not the best path to re-election. Read below the fold...

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Taxes are the bait, spending is the hook

As I've mentioned before, the budget compromise that Gov. Mark Dayton made with GOP legislators in Minnesota is the template. It only looks like a defeat if you make the Obamabot assumption that raising revenue (or cutting the deficit) is the top priority. Since, unlike state govts, Uncle Sam never needs to tax to spend, the opportunity this strategy offers is far larger.
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Catfood II, where Paul Ryan says budget caps are for suckers

I read through the Catfood II bill this evening, and it's rather astonishing to see how completely House Republicans owned the Senate Democrats on this in at least 3 different ways. It's obvious which side was desperate for a deal. The bill reads like a contract a rent-to-own furniture store would stick on illiterates. Read below the fold...

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Coin Seigniorage and the irrelevance of the debt limit


[Welcome, Felix Salmon readers! And for a response, see here. Welcome, Slate readers! Welcome, Money Illusion readers! --lambert] Read below the fold...

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where I set Lambert straight and piss off Bo Cutter :o)

Bo Cutter posted at New Deal 2.0 recommending that Obama "reset" his Administration by bringing in as WH Chief of Staff either Erskine Bowles or Leon Panetta (who's not a bad guy, but if Obama wants a CIA Director to be his BFF, I think Robert Gates has dibbs).

Lambert responds with, What does it matter which legacy party wins?

And I unload on Lambert (OK, actually on Bo): Read below the fold...

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Oceania has always been at war with the Washington Generals, 9/11 responder edition

The Senate Republicans did what they said they'd do today -- they blocked a bill aimed at providing over $7 billion in federal money for 9/11 responders and their families because it came before a vote on taxes. But despite the almost scripted outcome, Democratic Senators behind the bill seemed shocked at the outcome. Read below the fold...

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The Cost of Waiting and The Real Death Tax

Over at FDL, doublesseven wrote a diary praying for the rapid and swift recovery of Ed Schultz from his recent fit of insanity.

There was a point made that caught my eye, that 200,000 uninsured Americans will die needlessly because Obamacare won'tt get started until the beginning of 2014. So I did a little cipherin' (I'm just a small town country lawyer, see)...

The Environmental Protection Agency values a human life at $6.9 million. It used to be $7.8 million but the Bush OMB thought that was overpriced, so the 6.9 mill is, literally, a conservative figure. Read below the fold...

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