WH Fiscal Cliff Offer Includes Unlimited Executive Power to Raise Debt Ceiling

Breitbart ^

[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.

[madison10]

Dumb *&# thinks he’s king.

[IncPen]

Cloward-Piven.

[paint_your_wagon]

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.

[Balata]

Problem is he knows he holds all the cards and knows the GOP has nothing.

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.

[MCF]

“the majority of people will blame the GOP”.

Yep, and if the GOP agree to it then it is a “bipartisan” recession.

[hopespringseternal]

Please explain a scenario where the GOP doesn't get the blame?

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.

[HeartlandOfAmerica]

McConnell should have not only laughed in his face, he shoulda called security to throw the bum out, then told him, "Get the F*** OUT AND COME BACK SOMETIME WHEN YOU'RE SOBER!"

[presently no screen name]

Who cares who they blame - expose the fraud and let the GOP do their job! The election is over - who cares about the majority!!

[Robert357]

My personal feeling is that the Republicans in the House and Senate should hold hearings and invite all the major rating agencies to testify as to if the WH & Dem proposed package will help the US regain its AAA credit rating or if it will likely result in a drop in future credit ratings.

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.

[ronnie raygun]

Giving him the key to the economic button

[lowbridge]

Bump

[LibLieSlayer]

THEY will blame the republicans regardless... time to do the right thing and fight evil with what we KNOW works. Just do the right thing and TALK to the American people about what you are and are NOT doing and why. Call the press liars to their face... on camera... in interviews and on TV.

LLS

[JohnD9207]

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.

[cableguymn]

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.