Posted on 10/17/2013 9:32:42 AM PDT by Ernest_at_the_Beach
That rumor has been flying around, in part due to the natural opacity of last-minute deals struck at the eleventh hour of a crisis. The legislative branch controls the debt ceiling, but Democrats have occasionally proposed to either eliminate it altogether or allow the executive to set it at least when a Democrat is President. So what exactly did the Reid-McConnell bill do to the debt ceiling? Politico has the source of some confusion on this at the bottom of their story:
The legislation also includes a McConnell-written proposal that would allow Congress to disapprove of the debt-ceiling increase. Lawmakers will formally vote on rejecting the bump of the borrowing limit if it passed, it could be vetoed by Obama.
The deal would also deliver back pay to furloughed federal workers, require a study of income verification for people seeking health-insurance subsidies under the Affordable Care Act and also allows the Treasury Department to use extraordinary measures to pay the nations bills if Congress doesnt raise the debt ceiling in a timely fashion.
Kerry Picket at Breitbart also noted the rumors that the deal took the debt ceiling out of Congress hands (working off of an earlier version of Politicos story), but included a caveat:
The plan includes a proposal offered by McConnell in the 2011 debt ceiling crisis that allows Congress to disapprove of the debt ceiling increase, which means lawmakers will formally vote on whether to reject a debt ceiling increase until Feb. 7. Obama can veto that legislation if it passes. If Congress fails as expected to gather a two-thirds majority to override the veto, the debt ceiling would be raised.
However it would only apply to the next debt ceiling vote. The debt limit can only currently be increased if Congress affirmatively votes to raise it and the president signs it into law. During Congress last debt limit debate in 2011, Senate Minority Leader Mitch McConnell (R KY) wanted to invert this process by making it automatic, unless Congress voted against it and the president did not veto it. Theoretically, Congress could override a veto, but given the current makeup of both chambers that would be nearly impossible.
This looks more like an out in case the debt ceiling gets hit before the February 7th deadline. The language starts on page 24 of the bill, in a section that expires on February 7th and only applies to payments due before February 8, 2014. Its essentially a way to ensure that Congress doesnt have to have another debt-ceiling fight earlier than expected, allowing Obama to suspend the debt ceiling only with a presentation to Congress that the current ceiling would be hit for obligations due before February 8th. It then gives Congress the ability to overrule Obama if necessary, but this again only applies for the short period of the deal. After February 7th, the normal order returns, and Congress has to raise debt ceilings again.
Its still something to watch in the future, but at the moment this just looks like a temporary method to make sure the can stays kicked until February 7th.
Update: Let me add a couple of more caveats. The executive cannot spend what is not appropriated by Congress, except for statutory spending entitlements and interest payments on the debt. This may be a response to threats from credit-
We should remove the debt ceiling. It is a farce.
We should make it known to the world that the American gov’t has no intention of ever setting any limits on its spending of borrowed money.
So if the Obamunist proposes to raise the debt ceiling by 20 trillion on Feb 1, it’ll take a 2/3 majority to stop it.
Great job traitors.
Voter registration should have been REMOVED from the website for health care. It's pretty obvious what King Barry's intent is for THAT feature. 15 MILLION new, formerly illegal aliens signing up for health care AND registering to vote 'Democrat'.
This labeling conservatives as 'EXTREME' is a joke. As if the Democrats haven't gone EXTREME? John F. Kennedy would be shocked at what has happened to the Democrat party. If they're going to call us EXTREME, WHEN ARE WE GOING TO START CALLING THEM 'SOCIALISTS'? It IS time, people!
I thought the Constitution was the law of the land. That pesky Constitution has been deemed unnecessary, anachronistic, and our President is way too smart and sophisticated to be saddled with such a poorly written ‘charter of negative liberties’.
A STUDY??? No wonder Schumer called this one "concession" a "fig leaf" for the GOP. PATHETIC!
Violation of Article 1 giving the House powers of appropriation
But hey, it`s the real Constitution, it`s been dead since FDR.
.
THANKS Kentucky kick-back McConnell you political whore.
seems flagrantly UNconstitutional if so
but
who will challenge it and defend our steenkin constitution these days
as Mark Levin said, we are living in a post-Constitutional time. We are no longer a Constitutional Republic
Instead of our Mt Rushmore we shall need a new monument featuring the profiles of Reid Pelosi Richard Trumka, Obama and Soros - oh and Al Sharpton
He just proved that no one will can him. He doesn’t need approval. He just says raise it. It goes up.
It would cut down on the the theatrics and drama queens. It would also take a tool out of the democrats arsenal.
Poor Mitch, he thinks it’s his job to AVOID fighting for what’s right; that he was sent to Congress to go-along with Dim spending increases and make it more difficult for Congress to prevent them.
It would be interesting to see the bond markets react to such honesty.
And to see the Democrats react. Would they insist that, yes they do have intentions of limiting spending/debt?
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