Posted on 07/14/2011 6:33:51 PM PDT by SeekAndFind
A plan by the Senate's two top leaders to allow President Obama to raise the debt limit without congressional approval is emerging as the most likely strategy to avoid a looming federal default.
The plan being drafted by Senate Minority Leader Mitch McConnell of Kentucky and Majority Leader Harry Reid of Nevada would lock in roughly $1.5 trillion in deficit reduction over the next ten years — a figure considerably smaller than Republican leaders or President Obama had been seeking. Administration officials have said they still would prefer a more sweeping deal on the deficit, but they signaled the idea would be acceptable to Obama.
Conservatives, particularly in the House, seem likely to oppose it. But with efforts to deliver a larger deficit-reduction deal still stalemated, the new plan, which builds on a proposal put forward earlier in the week by McConnell, could provide a way out of a dead end that has become politically and economically perilous.
House Speaker John Boehner (R-Ohio) indicated such "last-ditch" efforts may become more palatable in the time ahead.
(Excerpt) Read more at chicagotribune.com ...
Acording to the Chicago Tribune, no Congressional approval will be needed. It will be done by executiive order with the assent of the leaders of both Congressional houses.
Third Party is definitely in. And Palin will declare.
NO WAY...the House holds the purse strings...it has to pass the house...
I disagree that “no increase” means default or ratings devalued. Just the opposite... if we increase the debt limit, our inability to control spending is sealed in the eyes of the raters. As long as we continue to pay the interest on the debt, our ratings should remain solid. That is of course unless Moodys is just as hacked as the democrat party is, in which case it’s only a matter of time when that hammer falls.
Keeping the debt ceiling where it is forces dems to make the cuts they don’t want to make.
If democrats want to raise the limit, let them take back all 3 branches first... but lets not let them kill this country and point their finger at the smoking gun being held by republicans.
Call their bluff.
This is a crisis ( a false one at that.)No time to have it debated in both houses. Getting it yet?
We are truly seized by a liberal fascist government.
Few have faced it. I did in 2007.I saw what Obama had done in Kenya and examined it very closely.
Good Read:
http://www.americanthinker.com/2009/05/barack_obama_the_quintessentia_1.html
That is absolutely UNTRUE.
No congressional approval will be needed for certain specific debt ceiling increases IF THIS PLAN PASSES BOTH HOUSES and is signed. IIRC it's 3 increases totaling 2.5 million in the next 18 months... but don't remember that part too well.
That's how i get it.
Are you going to invite me over? I’ll bring the chips.
You think it is UNTRUE?I too know that the connstitution requires as you say BUT, its not politics as usual, and in a crisis , the president must act, assuming poower under the 14th amendment (sic).
Explain the Chicago Tribune report:
“
Under the emerging proposal, Obama would be able to order increases in the debt ceiling on his own, without congressional approval.
Congress would vote on legislation to block an increase, but if such a resolution passed, as is likely, Obama would veto it. If the veto was sustained by Congress, the debt limit would be increased.”
AND:
14th amendment spin:
http://www.huffingtonpost.com/2011/07/07/frank-dismisses-14th-amendment-option_n_892492.html
This is the way its going. Its a CRISIS you see.Saul Alinsky style. Fascists are running America.
They must keep those “women’s jobs” (and the jobs of their dirty old bosses) supported with lots of funny money to locales from Uncle Samantha. It’s a bipartisan effort, but no one’s supposed to notice that.
How can Mitch just decide that he’ll let obama do this?
Can anyone just decide that they’ll let obama do this?
Or, is there some mechanism to formalize letting him do this?
So, what mechanism is going to allow obama to do this? His presser?
It’s got to be something Candor. What is the facilitating mechanism?
The constitution is being ignored FRiend.
Thats the point.
http://reason.com/blog/2011/07/12/mcconnell-i-dont-know-constitu
Mechanism?
Presidential exewcutive order and the 14th amendment aloong with the acquiesence of both Congressional House leaders.
Its a crisis ( a false one created to expand Obamas fascist dictatorial powers.)
It is impeachable IMHO.
Watch Obama’s news conference tommorow morning,and you will see the truth of these predictions.
Its pretty much covered here:
http://reason.com/blog/2011/07/12/mcconnell-i-dont-know-constitu
What you’re saying is that nothing is changing - they’re just deciding to try this out?
Obama will announce in his news conference tommorrow that he will save the nations from default, and exercise dictatorial power to do so under the 14th amendment.
Congress will meet the “crisis” by abdicating its budget authority, according to Boehner and Harry Reid, agreeing to a “negotiated package” for increased debt ceiling and token spending cuts.
This is impeachable treason IMHO.
It means the ruination of America. It also means the end of the GOP, splitting the party, and assuriung that Sarah Palin will declare.Its Two by Tea, and One by Treason.
The country club GOPers have decided to keep their elitist culture and trash the country.Its up to conservatives to save the Republic, if we can.
The entire conservative movement has just been trashed.
I’m expecting more from my leaders.....
Only, and I stress ONLY if both houses of Congress first approve such proposed law.
Sheesh. Read it.
HE HAD A 53% VOTE APPROVAL IN THE LAST ELECTION. He will be 70 years old come Feb. 20th 2012...term limits are needed very badly...
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