Skip to comments.WH Fiscal Cliff Offer Includes Unlimited Executive Power to Raise Debt Ceiling
Posted on 11/30/2012 8:31:57 PM PST by chessplayer
Treasury Secretary Timothy Geithner, President Barack Obama's point man on the fiscal cliff negotiations, presented Republican leaders a proposal to avoid the fiscal cliff on Thursday, which gives Obama unprecedented powers to raise the debt ceiling whenever he wants.
The White House proposal includes $1.6 trillion in tax increases, a one-year deferral of sequestration, and $400 billion in savings from Medicare and other programs.
In addition, the White House's initial offer also gives Obama the authority to raise the debt ceiling essentially to infinity without congressional approval and a multi-year stimulus package that would be at least $50 billion for fiscal year 2013.
(Excerpt) Read more at breitbart.com ...
The White House and Democrats have shown they do not want any deal.
Boehner may have to think about it, but I bet he says yes.
this guy will give OUR money to more of his shyster friends....
Actually, there is a deal that he could put on the table for the President. Give the President unlimited power....to lower the debt ceiling. I’d even offer the President a bonus for each billion he can trim off the debt.
I’m still trying to figure out why we have a debt ceiling if they keep raising it. Why bother. Just do away with it and stop the pretense.
If he gets it, I am negotiating with my employer to pay me in Yuan.
Come on people! We are supposed to be so stunned and mortified by this revelation that we begin calling and writing our representatives, to basically give Bambi what he wants - cover. Homey don't play that.
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But [sniff] at least we get to have a good cry about it.
They should move the coverage of the House from C-SPAN to Lifetime so bored housewives don't have to flip channels to see another hormonal b##ch cry on teevee.
this is getting surreal,
this is how America dies,
The dark side knows the Republicans are screwed either way, so the GOP may as well throw the whole mess overboard. Agree to nothing and let’s get this cliff jump over with.
I have my seat belt on...let’s go!
The power to destroy the country. Just what he always wanted.
The GOP better not agree to this crap
The GOP needs to know better than to make a deal like this
Problem is he knows he holds all the cards and knows the GOP has nothing. We go over the cliff and into another recession, the majority of people will blame the GOP.
Why the hell do they need to enslave us with taxes to death? /s
So what if they blame the GOP?
Our entire Government is corrupt, and crybabies to boot - all of them!
Dumb *&# thinks he’s king.
That spending over revenue is actually a tax on future generations. Talk about taxation without representation!!!
What an attempt at a powergrab, and he hasn’t even started his second term. I think we’ll look back on the first four years as the good old days.
Having nothing or doing nothing are two different things. If the Repubs in the House had and testicular fortitude they would shut the country down by pulling the purse strings closed. If they don't, where are they going to take a stand?
This may be the Repubs 'Now or Never' moment.
“the majority of people will blame the GOP”.
Yep, and if the GOP agree to it then it is a “bipartisan” recession.
After the last fiasco of a negotiation, I am having a hard time caring. Whatever happens will be a complete joke.
Our political class is absolutely insane.
Who cares who they blame - expose the fraud and let the GOP do their job! The election is over - who cares about the majority!!
The problem is not rate rates for the rich, the problem is increased borrowing that is destroying this Country's (and other countries = see Euro Crisis)ability to repay borrowed funds.
Let's not get sucked into a definition of fiscal cliff that the media is pushing. Let's educate both the media and the public on what is at stake and what the Dem's are not behaving responsibly.
Giving him the key to the economic button
Who cares if the gOP gets blamed? What they are saying is doing the right thing for America might hurt them politically. And...? Do the right thing regardless and and if the gOP loses seats so what. They were sent to DC to the right thing not to protect their jobs in 2014.
all spending is suppose to start in the house.
They DO get the blame if they don’t fix it.
Bonehead and co have had the power to get spending under control since they got the majority in the house.
I DO blame them for the mess we are in. They DESERVE it.