Posted on 07/02/2011 4:17:27 PM PDT by John Semmens
Frustrated with Republican demands that federal spending be cut in exchange for their support in raising the congressionally delineated $14 trillion debt ceiling, President Obama has spurned Senate Republican leader Mitch McConnell's (R-Ky) invitation to meet to discuss a potential compromise and is, instead, said to be mulling over the idea of unilaterally breaching that limit.
“If the Republicans are going to be such d**ks about it, the President may be forced to go it alone,” said Jay Carney, Presidential Press Secretary. “Every previous Congress has raised the debt ceiling when requested to do so by whoever was President at the time. So there’s plenty of precedent that it’s the right thing to do. Why should the intransigence of the current crowd be given more weight than all of those previous congresses?”
Historic precedent wasn’t the only rationale Carney offered for possible unilateral action by President Obama. “Everyone agrees that a default would do severe damage to the nation’s future ability to borrow money,” Carney contended. “Protecting the nation against this kind of damage is the sort of emergency for which the President might have to invoke his authority as Commander-in-Chief. He could simply order Secretary Geithner to continue to issue US Treasury Bonds to obtain the money needed to fund the government’s programs.”
Action by President Obama to breach the debt limit would be a complete u-turn from his 2006 stance of opposing an increase in the then $8 trillion debt ceiling because it would be “endorsing irresponsible spending.”
read more...
http://azconserv1.wordpress.com/2011/07/02/court-blocks-restrictions-on-abortion/
He may as well. None of the other laws mean anything to him.
Sadly, I’ve thought this for some time and am sure our little dictator will do it.
First ignoring the War Powers act and now a potential use of power to ignore Congress and the law? Slippery slope to a dictator starts here..
Well, let’s see if this happens as it could just be a head fake to try and intimidate Congress. Impeachment would be a proper first step and then placed into jail the next.
What’s next? Obama loses election but ignores results because he deems it an emergency he stay in office?
Sometimes satire is too real to be funny.
Oh, they are actively contemplating this, but it would be playing with economic fire... No one would purchase dubious treasuries given their legal uncertainty, interest rates would rise, and this would choke off any residual of a slow recovery.
Frankly, I hope they are stupid enough to try this.
There are other stunts they might pull which have me more concerned, but these all come with a sever economic price as well.
Please do it and seal the 2012 elections.
Well done, John. Very well done indeed.
I sugggest then that Congress start ignoring the President.
Step One: Defund the Executive Branch.
How exactly does The One do that? The House controls the purse strings last I heard. Our Marxist Usurper can say what ever he likes about the debt ceiling, but if the House thumbs its collective nose at him he’s dead in the water.
Of course, that will require integrity and courage by the House majority. Remains to be seen if it delivers.
How high is the debt limit right now? The ceiling is currently set at $14.294 trillion. The country's accrued debt hit that mark on the morning of May 16.
But by taking various extraordinary measures like suspending investments in federal retirement funds, Geithner will be able to bring total debt down enough to allow the government to continue borrowing until Aug. 2.
Hence, by the end of trade on May 17, total debt subject to the limit was a mere $25 million shy of the official cap -- or $14,293,975,000,000. Total debt can fluctuate up or down on any given day.
How is the ceiling determined? They don't admit it, but lawmakers tacitly agree to raise the debt ceiling every time they vote for a spending hike or tax cut.
"Congress has already passed and the president has already signed legislation that increases spending or decreases revenues. Those decisions have already been made," said Susan Irving, director for federal budget issues at the Government Accountability Office."... from: The communist news network at: http://money.cnn.com/2011/01/03/news/economy/debt_ceiling_faqs/index.htm
Dick Obama already ignored the debt ceiling. And the war powers act. And the 4th amendment. And the 2nd. The kenyan is waging war on America and is winning.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.