Posted on 09/09/2011 1:03:49 PM PDT by rawhide
The U.S. Senate, in an unusual procedure, cleared the way Thursday for the U.S. to lift its borrowing authority by $500 billion to $15.19 trillion, enough to keep the support federal government borrowing through late January or early February.
The action came under an unusual legislative procedure spelled out under the August agreement to raise the U.S. debt ceiling and avoid a U.S. credit default. In a 52-45 vote, the Senate blocked an attempt by Republicans to slow down the process that will result in the $500 billion debt-ceiling increase.
The increase stems from a deal between Congress and the White House, finalized last month, that spells out how the borrowing limit would be increased by $500 billion. Under the process, lawmakers in both the House and Senate must vote on a resolution of disapproval against the increase in the borrowing limit. President Barack Obama would then have to veto the resolution of disapproval, and Congress would then vote to try and override that veto.
The complicated procedure, designed by Senate Minority Leader Mitch McConnell (R., Ky.), would allow an increase of the borrowing limit while allowing most Republicans to vote against such an increase.
There was a twist in this scenario Thursday evening, however. Democrats held firm, rejecting the resolution of disapproval, thereby speeding the process and increasing the borrowing limit immediately.
(Excerpt) Read more at blogs.wsj.com ...
Maybe we should wait until we have Republican Congressional "leaders" who do not consistently do Obama's bidding.
Looks like the money prep for the JOBS BILL!!!
The U.S. Senate, in an unusual procedure, cleared the way Thursday for the U.S. to lift its borrowing authority by $500 billion to $15.19 trillion, ...Oh really? The Senate did what? I think they better look at this before they start having Porterhouse Steaks for lunch.
U.S. ConstitutionSo the senate and Mitch McConnell can pound sand. As the article states: 'Under the process, lawmakers in both the House and Senate must vote on a resolution of disapproval against the increase in the borrowing limit'.
Article 1, Section 7All Bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with amendments as on other Bills.
Well the senate has voted, but the House has not. And I don't think they'll go for this nonsense. They know full well the consequences they'll face if they play games with MONEY WE DON'T HAVE! ... and in the process would be bailing Obama out of the sh_thole he's dug for all of us.
Nope McConnell played us. Someday we will learn that the Establishment Political Class, is on their own side regardless of party.
“And there’s another $1.5 trillion to come when obama runs out of overdraft checks by late fall.”
Then they will need another $1.5-$2 trillion after that. It will never end.
I agree with everything you have presented, however it looks like the House has been bamboozled by this shady piece of legislation. Obama is an idiot, but a shrewd one. He bypassed everyone with his fiat concerning illegals which went into effect immediately and now it looks like this may be the same type of manipulation. I want to know why this loophole was allowed to slide by without anyone saying Hey, hold up a minute— maybe we should take a closer look at this.
Does the house have to vote on this? I’m confused.
” - - - McConnell got played. - - - “
Not so! In order to avoid the dreaded tabloid media-nasties, Son-of-a-Mitch McConnell ( don’t you just love the way that rolls off your tongue?).
Anyway in August, 2011, Senator Son-of-a-Mitch McConnell and Senator Reid-in-the-Wind made a Bipartisan Cave-In whereby Obama could raise the National Debt Ceiling twice more ON HIS OWN !
So much for “ Control of the Pursestrings, “ Constitutional “Checks and Balances,” etc.
McConnell is a spineless wimp!
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