I get it but this would be hardcore unconstitutional.
The 18th-century document spells out that when we pledge to repay a debt, this shall not be questioned. If Trump can get China to AGREE the debt is canceled, that's different. Simply canceling it ourselves is off the table.
Think about it. If we did this once to China, we'd never be able to borrow again from any nation because they would expect we could hose them too. Once you lie to someone, they never fully trust you again, and a whole bunch of other people who find out about it also don't trust you.
China owes the United States approximately the same amount as we have borrowed from them. This doesn't factor in paying for this virus outbreak.
American investors financed in 1913 a vast railroad network build in the Republic of China. (or was it Empire of China back then?). They skunked the American bond holders claiming "we're not that country anymore" since they had a civil war iirc. That debt would amount to over $1 trillion today.
Then a few decades later we helped them finance WW2 and some other war i can't recall the name of. That debt consisted of like $20 million in bonds worth around $1 trillion today, and $500 million owed to the US Government which wasn't bonds so it didn't have gains like they did, but it would still amount to close to $3 trillion.
They were being annihilated by the Japanese by the thousands. If we hadn't entered the war when we had, China would've been lost just like much of Europe to Nazi Germany. Much of the world owes America a debt they can never repay.
Except that thing, you know, where they spread a virus around destroying the economy??
Yes but the Constitution doesn't contain your exception, or any other.
We either live and die by the fucking thing, the oldest constitution on the planet still in force; or we change it, using the amendment process it spells out for us. I love having only those two choices, personally.
We need SOME bedrock foundation to rest our society on.
Unknown. But that is one good thing about owing them over a trillion.
Countries are reluctant to attack militarily other countries that owe them that much money. They would be forcing us to spend money on killing them that we could instead be repaying to them.
I get it but this would be hardcore unconstitutional.
The 18th-century document spells out that when we pledge to repay a debt, this shall not be questioned. If Trump can get China to AGREE the debt is canceled, that's different. Simply canceling it ourselves is off the table.
Think about it. If we did this once to China, we'd never be able to borrow again from any nation because they would expect we could hose them too. Once you lie to someone, they never fully trust you again, and a whole bunch of other people who find out about it also don't trust you.
Human nature.
Attention all Nations of the world; if you purposefully release a pandemic, all bets are off.
-Sincerely, America
China owes the United States approximately the same amount as we have borrowed from them. This doesn't factor in paying for this virus outbreak.
American investors financed in 1913 a vast railroad network build in the Republic of China. (or was it Empire of China back then?). They skunked the American bond holders claiming "we're not that country anymore" since they had a civil war iirc. That debt would amount to over $1 trillion today.
Then a few decades later we helped them finance WW2 and some other war i can't recall the name of. That debt consisted of like $20 million in bonds worth around $1 trillion today, and $500 million owed to the US Government which wasn't bonds so it didn't have gains like they did, but it would still amount to close to $3 trillion.
They were being annihilated by the Japanese by the thousands. If we hadn't entered the war when we had, China would've been lost just like much of Europe to Nazi Germany. Much of the world owes America a debt they can never repay.
Except that thing, you know, where they spread a virus around destroying the economy??
This isn't just a random debt cancelation.
Yes but the Constitution doesn't contain your exception, or any other.
We either live and die by the fucking thing, the oldest constitution on the planet still in force; or we change it, using the amendment process it spells out for us. I love having only those two choices, personally.
We need SOME bedrock foundation to rest our society on.
Agreed. Besides, debt cancelation isn't a big enough punishment. CCP needs to be destroyed.
Unknown. But that is one good thing about owing them over a trillion.
Countries are reluctant to attack militarily other countries that owe them that much money. They would be forcing us to spend money on killing them that we could instead be repaying to them.