Skip to comments.U.S. Republicans say, "No way" to ceding debt limit power
Posted on 12/05/2012 5:18:50 PM PST by Sub-Driver
U.S. Republicans say, "No way" to ceding debt limit power Photo 7:36pm EST
By Rachelle Younglai
WASHINGTON (Reuters) - Republican lawmakers took a firm stand on Wednesday against an Obama administration proposal that would make it easier for the president to increase the nation's debt limit, worried it would undercut their leverage to cut government spending.
Republicans introduced a non-binding resolution in the House of Representatives that, if approved, would put the chamber on record opposing the plan, and a Senate Republican began circulating a letter to President Barack Obama saying it was critical that Congress' role in setting the limit not change.
As part of its opening bid to Republicans in talks to avoid the "fiscal cliff" of $600 billion in tax hikes and spending cuts set to hit the economy at the start of 2013, the administration proposed allowing the president to initiate hikes in the debt limit, which now stands at $16.4 trillion.
If Congress denied the request, he could then veto the decision. It would take a super-majority in both the House and Senate to override the veto, meaning the increase would almost certainly move ahead.
The White House wants any fiscal cliff deal to include a borrowing cap hike to avoid a repeat of last year's bruising debt limit fight, which unnerved markets and led to the loss of the nation's top-tier credit rating.
(Excerpt) Read more at reuters.com ...
“last year’s bruising debt limit fight, which unnerved markets and led to the loss of the nation’s top-tier credit rating.”
Yeah, that was the cause. Liars.
When Bronc0 bammie says “we must have a balanced approach” the responsse should be: “we agree, and want to balance spending and taxes, as a start”
In the end... we know what will happen... the GOP will cave.
But Americans will still blame them anyway when the economy tanks further.
This may be a throwaway "concession" for Obama, so he loses nothing.
I’ll bet the Republicans and Boehner will posture for the cameras and then do nothing if Obama just seizes this power for himself.
To anyone suggesting this is a valid concern, the understanding of our nation’s laws and legal framework is obviously lost to you. Go back and read the Constitution of the United States of America.
ALL laws regarding the financing of the government MUST originate in the House of Representatives. That’s one of the reasons why Obamacare is so treasonous: it originated as a Senate bill. That’s not how things work. If Obama is given the ability to do anything unilaterally, then every Representative who votes to give him that power is summarily in dereliction of their duty to the oath they took upon taking office and should be executed or imprisoned for doing so.
All that being said, we live in a banana republic, and if it does happen, it’ll be cloak and dagger type shit that will pass by a narrow margin and we truly will live under a dictatorship.
Obama’s already violated the War Powers act by his assignment of troops in Libya and elsewhere. Going over the head of Congress would not only be impeachable but should immediately cause a streak of brown to form in the pants of every lawyer in this nation, as their ability to do anything will have been ceded to the minds of magistrates and judges appointed by “The Won.”
I’m ready for CWII, folks. I hope you are prepared, physically and spiritually, for what’s coming.
Obama always plays with a different set of referees and a different set of rules.
We can be sure that Boehner will follow Obama on every point; after all he can say OH voted for Obama. There may be no formal ceding of the debt limit, but informally, it’s a done deal under Boehner.
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