Timothy Geithner: End debt ceiling for good? (Obama wants a No Limit Credit Card)

politico ^ | 11/30/2012 | By JOSEPH J. SCHATZ

[SJSAMPLE]

Dammit.
You beat me by five minutes.

[NRA1995]

F**K YOU TED!

[Graewoulf]

Sheriff of Nottingham Timmy Gee has never understood Checks and Balances.

[OldPossum]

This is an attempt to take the power of the purse away from the House of Representatives.

I think you are exactly right.

[trebb]

If the ceiling is removed to allow infinite spending, the government will find a way to reach infinity...

[EEGator]

[Buckeye McFrog]

If the Dems ever control both houses of Congress again it will happen faster than you can say Walking Around Money

[cotton1706]

This has been done by tyrants before. The colonial legislatures frequently used to reign in the royal governors and the courts by withholding their pay and their funding. Then the King made there compensations come directly from Parliament, leaving the assemblies with very little power or leverage.

So we removed the king. And the lower, more numerous houses of the legislatures always held the monetary power.

[Jumper]

The problem is not the debt ceiling, which by the way has been nonexistent for the past four years because there has been no budget. If there was to be a budget then there would be a budget constraint. Hence, this President and the Democrats win with no budget and the ability to continue unlimited printing of money. The Republicans are complicit in this obvious dereliction of Congressional duty and are enjoined with the President it raping the American people. No budget is a license to steal - and it is a way to do an end run around fiscal sound process of imposing constraints contained within a Budget; Continuing Resolutions allow the government to operate without a Budget. This is the entire problem in a nutshell.

[PapaBear3625]

Should not be any hesitation in answering this one. Smack it down with a note attached that their will be no increase unless there is an emergency such as an attack on the homeland.

That would be an invitation to stage a "wag the dog".

No increase unless Congress approves.

Regardless of the credit card limit, you reach your real limit when the monthly payments exceed your income.

[E. Pluribus Unum]

Give the SOB whatever he wants, and make sure he owns it.

We are long past the point of no return.

The sooner the global economy collapses and the bloodshed begins, the sooner the survivors can start rebuilding.

[CORedneck]

FUTG. This idea should be DOA ! That a-hole should be in prison and IMHO, part of those responsible for the 2008 crash.

[discostu]

Honestly they might as well. It’s not like the debt ceiling has accomplished anything. Hasn’t slowed spending, hasn’t spawned fiscal responsibility, all it’s done is make them increase it every couple of years. For all intents and purposes it doesn’t exist, they might as well make it official.

[sport]

might as well. It would make it easier on the Republican’s asses. The Democrats would not have to ream them as often. And the Democrats get what they want everytime anyhow.

[jurroppi1]

I did look up the phrase, thanks for the suggestion. It sounds more like Overton death or “Door In the Face” negotiation tactics you are describing though.