Article

2013-01-10 Government

House Dems say president can raise debt ceiling

[WASHINGTONEXAMINER] House Democrats say President Barack Obama
I inhaled. That was the point...
should consider invoking a little-known constitutional provision that they say gives him the power to raise the debt ceiling without going through Congress, where Republicans are demanding that a debt ceiling vote be linked to spending cuts.

The Democrats said in a letter that they would support the use of any authority, including the 14th Amendment, to prevent the nation from going into default, an event that some economists predict could trigger a global recession.

That post-Civil War amendment contains a section stating that "the validity of the public debt of the United States...shall not be questioned."

We're not questioning it, we're saying no more. The debt service can be paid without a problem. It does mean we'd have to forego a few fripperies...

As of Wednesday 21 Democrats, led by Rep. Peter Welch of Vermont, had signed the letter.

Raising the federal borrowing limit is now subject to congressional approval, which traditionally has come with relatively little resistance. But in July 2011 Republicans tied their vote on the debt ceiling to concessions on spending, generating a confrontation with the B.O. regime and resulting in the first-ever ratings downgrade of the nation's credit-worthiness.

Posted by Fred 2013-01-10 00:00|| || Front Page|| [11129 views ] Top

#1 "When I see that the right and means of absolute command are conferred on a people or upon a king, upon an aristocracy or a democracy, a monarchy or republic, I recognize the germ of tyranny, and I journey onwards to a land of more helpful institutions." Alexis de Tocqueville, 1 DEMOCRACY IN AMERICA, at 250 [Arlington House (1965)].

Posted by Besoeker 2013-01-10 04:41|| 2013-01-10 04:41|| Front Page Top

#2 Yes he CAN, But Obama had better NOT.

Posted by Redneck Jim 2013-01-10 10:57|| 2013-01-10 10:57|| Front Page Top

#3 Has anybody ever asked them where it's gonna stop?

Posted by Ebbang Uluque6305 2013-01-10 12:22|| 2013-01-10 12:22|| Front Page Top

#4 If O can, and the house dems are all right with it, it therefore follows that house dems are not needed. Clear out their offices and leave.

Posted by Alaska Paul 2013-01-10 12:27|| 2013-01-10 12:27|| Front Page Top

#5 I honestly don't understand Leftoid thinking regarding spending. There was a thread on another board about the Texas budget surplus. Nothing but vicious, pointless, excoriating attacks -- because a state has extra money. I can't even begin to fathom why the Left would regard extra money as hateful, but there it is.

Posted by Menhadden Flinter9357 2013-01-10 12:31|| 2013-01-10 12:31|| Front Page Top

#6 Maybe the Chinese will accept a couple of $1-Trillion coins.....?

Posted by Uncle Phester 2013-01-10 13:29|| 2013-01-10 13:29|| Front Page Top

I can't even begin to fathom why the Left would regard extra money as hateful, but there it is.

1) They want it given to them, 2) They don't want it returned to the people who earned it.

Posted by Rob Crawford 2013-01-10 13:32|| 2013-01-10 13:32|| Front Page Top

#8 I have a 1 trillion dollar note from Zimbabwe. Obama can just use that.

Posted by Iblis 2013-01-10 15:49|| 2013-01-10 15:49|| Front Page Top

#9 I had a few of those as well, but the selfless, philanthropic bastid that I am, I gave them all away.

Posted by Besoeker 2013-01-10 15:53|| 2013-01-10 15:53|| Front Page Top

#10 Drip...

Posted by AlanC 2013-01-10 16:38|| 2013-01-10 16:38|| Front Page Top

#11 It will take US$16.4Trilyuhn, as per the soon-to-be-passe' current official US Debt Limit, for the US just to par, i.e. reach a balanced budget of 0.00 Revenues = 0.00 Debts, + minima another US$5-10.0Trilyuhn just to put something noticeable = positive real, whole numer in the Accounting-Budget heiroglyphics that Archeo-Economists, Budgeteers will read in 2050.

Posted by JosephMendiola 2013-01-10 22:18|| 2013-01-10 22:18|| Front Page Top

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