Skip to comments.Obama: Give Me Debt Ceiling Power Or Iíll Veto My Own Tax Proposal
Posted on 12/06/2012 5:54:54 PM PST by TurboZamboni
In case there is still anyone out there that continues to believe that the 2008 campaign lines that Barack Obama gave about changing the way Washington works, stopping politics as usual, and providing more transparency in government are true, then get a load of this. On Wednesday, Obama demonstrated just how partisan and how much of a power grabber he is. He indicated that if he were not given unlimited powers to raise the debt ceiling, apart from Congressional approval, that he might just veto his own tax hike proposal should it come to his desk.
As Obama addressed corporate CEOs at the Business Roundtable, he told them that business leaders should not accept going through another debt-ceiling crisis like the one that occurred in 2011, which caused stocks to fall and ended with the first U.S. credit rating downgrade.
(Excerpt) Read more at freedomoutpost.com ...
I do truly believe Obama is insane.
Go ahead, Repubs.
Do it and you’ll own CW-II.
Quite possibly so, his arrogance has no bounds.
Since automatic 7% annual increases are built into the federal budget, any “cuts” to the budget would have to be more than 7% per year to achieve a net reduction in spending. A reduction in the rate of growth is not a cut.
In DC speak, only increasing spending x% after proposing a y% increase is a cut.
Congressional Budget and Impoundment Control Act of 1974
Balanced Budget and Emergency Deficit Control Act of 1985
Budget Enforcement Act of 1990
Balanced Budget Act of 1997.
How many MORE “Acts” need to be legislated so that we actually have a Balanced Budget? The really sad part is that after the HUGE TARP bill, the Stimulus bill and Obama’s budgets, if you only talk about cutting hundreds of billions, you are now talking about chump change.
Have you noticed that the media doesn’t even dare to utter the word “default”?
Or when the word is mentioned, it is preceded by the word “disastrous” or “cataclysmic.”
The reason why default is never mentioned as a possibility by the Socialist media, is because default will destroy U.S. gubmint credit, making it impossible for gubmint to borrow. (Maybe) It would force balanced budgets for a generation?
Socialists prefer inflation, which is disguised taxation, or even austerity. But a Keynesians worst nightmare is a government unable to borrow money.
Don't move or....
>> I do truly believe Obama is insane.
What will it say about Boner when Boner rushes to comply with the megalomaniac’s wish?
CW II is probably the only thing that would save this country. God help us.
Please please please if the GOP does anything, stick to the simple answer of NO! NON-Negotiable, and I believe unconstitutional because Congress cannot assign it’s responsibility away nor encumber another Congress with such a move as abdicating it’s power to control the debt.
Congress implicity approves of debt ceiling increases when it passes budgets that exceed revenue. There is absolutely no reason to give this to Obama. If they allow this, Obama’s next move is to enact tax increased and develop revenue via presidential executive orders.
It’s stunning arrogance to think that Obama wants Congress to cede Congressional Constitutional power to the executive branch ....
I really think he knows that will never happen but asks for the impossible to get what he wants seem to be trivial ...
You took the image right out of my neuronz!!
It’s already started. What Obama and the democrats are doing is nothing short of an attack on this country.
The shooting has yet to start but I suspect it’s just a matter of time.
His aim is the take the power of the purse away from the House of Representatives. This leads directly to tyranny. Better to have all the taxes go up on January 1st.
It's the perfect metaphor from popular culture.
Nothing else could come as close.
And it's going to work just like it did in the movie.
I want to know how they increase the budget 7% every year when they haven’t passed a budget in 3 years!
That should not be legal.
>> CW II is probably the only thing that would save this country. God help us.
You named the alternative to CW II at the end of your post.
“...if my people who are called by my name humble themselves, and pray and seek my face and turn from their wicked ways, then I will hear from heaven and will forgive their sin and heal their land.” 2 Chron 7:14
This is the promise of Almighty GOD, but it comes with conditions. Are we Christians and Jews willing to do what is necessary?
GOD help us, indeed.
Unfortunately no. Much of our debt is already simply bought by the Federal Reserve Bank. Obama wouldn't have any compunction simply having all the debt rolled over to the Fed and we would just monetize it even faster. Of course, we would go the way of Wiemar Germany, but Obama would still be spending more and more.