Government sanctioned extortion and the U.S. Debt Ceiling

If ‘extort’ is defined as: To obtain from another by coercion or intimidation.  And U.S. Fed chairman recently stated  “We’re already seeing threats of downgrades from rating agencies,” Bernanke told the Senate Banking Committee.  Doesn’t this entire presentation to get all sides to buy into raising the debt ceiling exemplify extortion of the American people by the both the American government and the Federal Reserve?

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