Boehner’s ‘Bankruptcy Bill’ Will Stop Paychecks For Soldiers Or Veterans Until We Pay Off China (VIDEO)

Author: May 10, 2013 8:04 pm
John Boehner

Screen captured image of House Speaker John Boehner (R-OH) being interviewed by Peter Cook from Bloomberg TV.

Yesterday, our GOP-led U.S. House of Representatives approved the Full Faith And Credit Act (HR 807) — also derisively called the “Bankruptcy Bill” and the “Pay China First” Act.  And, as with many Republican initiatives, it sounds all fair, responsible, and grown-up, while actually being quite the opposite. Because, it’s time — once again! — for the GOP to hold America’s government hostage in yet another destructive and pointless “debt ceiling debate.” Or, as Paul Krugman, the economist, more accurately calls it, economic “hostage taking.”

Bloomberg‘s Roxena Tiron reports that the “Bankruptcy Bill” would “exempt federal payments to creditors from a borrowing-limit cap,” has little chance of passing through the Senate, and would be vetoed by President Barack Obama, even if it did. Nonetheless, the GOP will use the “logic” behind this nasty bit of legislation as a cudgel to force more cuts from the Democrats.

And you know things are getting scary, when even the GOP’s leadership can’t spin it in a way that sounds even remotely appealing. Did U.S. House Speaker John Boehner really say he wants to haul the U.S. government to bankruptcy court and force us to pay off Chinese bondholders? Before we even send checks to our soldiers and veterans? It sure sounded that way, when Bloomberg TV’s Peter Cook interviewed him:

Peter Cook: Doesn’t it mean, as Democrats have suggested, that you’re basically choosing to pay China before you pay U.S. Troops?

John Boehner: Listen. Those who have loaned us money, like in any proceeding, if you will, court proceeding, the bondholders usually get paid first. Same thing here.

The discussion also covered a wide range of topics, including the bill, the debt ceiling, the economy, and the newly-passed Internet sales tax law. Click here for the complete interview. Yet delaying payments to U.S. troops so we can pay off bondholders from China — as the above snippet clearly states is the intention — is unlikely to poll well with voters.

Democrats from the House Ways and Means Committee posted highlights from the interview on YouTube.

Here’s the video:

Elisabeth Parker Elisabeth Parker is a writer, Web designer, mom, political junkie, and dilettante. Come visit her at ElisabethParker.Com, “like” her on facebook, “friend” her on facebook, follow her on Twitter, or check out her Pinterest boards. For more Addicting Info articles by Elisabeth, click here.

facebook comments:


  • I am a Vietnam vet. This just proves that Republicans are more than willing to send hundreds-of-thousands of American young men to unwinnable wars to be killed, mutilated or permanently traumatized, when they themselves have never served a day in the military or in risking their precious lives for the sake of the country. Neither are they willing to honor the promises Congress made to those vets. But, they are willing to pay China, once one of our fiercest enemies and a country directly responsible for the deaths and disappearance of thousands of American soldiers. That is treason in my book. But, hey. When has a conservative ever picked up a real history book?

  • What about the private security contractors like Blackwater/XE/whatever they’re calling themselves this month? They still get their 3-times-soldiers’ pay, right?

  • ohgoodgrief99

    Let’s withhold Congressional pay and bennies until we pay off Bush’s wars.

  • I remember a day not too long ago when even mentioning something that sounded remotely like what Asscroft is suggesting would have been political suicide at best.

  • Republicans- snatching Defeat from the Jaws of Victory.

    I notice that they’re not including their own paychecks into the mix. Nor have they matched Obama’s sequestration cut.

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