Posted on 01/11/2013 12:54:27 PM PST by Sub-Driver
Reid to Obama: OK to skip Congress on debt ceiling By: Manu Raju and John Bresnahan January 11, 2013 02:47 PM EST
Senate Majority Leader Harry Reid and other top Democrats are putting new pressure on the White House to circumvent Congress to boost the nation’s debt ceiling if no bipartisan agreement can be reached.
In a strongly worded letter to President Barack Obama obtained by POLITICO, Reid and his leadership team argue that failing to raise the $16.4 trillion debt ceiling would threaten the full faith and credit of the United States. Reid and Sens. Dick Durbin, Chuck Schumer and Patty Murray asserted that Obama “must make clear that you will never allow our nation’s economy and reputation to be held hostage.”
“In the event that Republicans make good on their threat by failing to act, or by moving unilaterally to pass a debt limit extension only as part of an unbalanced or unreasonable legislation, we believe you must be willing to take any lawful steps to ensure that America does not break its promises and trigger a global economic crisis — without congressional approval, if necessary,” the Friday letter to Obama says.
The letter amounts to the most concerted push yet by Senate Democratic leaders for the White House to take unprecedented action to raise the debt ceiling given the bitter stalemate in Congress. After the messy debt ceiling fight from 2011, and the protracted fiscal cliff battle that extended until New Year’s Day, Obama has said he will not use the debt ceiling increase as a bargaining chip and will refuse to negotiate with GOP leaders on the issue.
(Excerpt) Read more at politico.com ...
Obama skips debt commission meeting
December 9th, 2010
http://whitehouse.blogs.cnn.com/2010/12/09/obama-skips-debt-commission-meeting/
he’s deeply concerned, for sure.
I don't think the Senate can ignore an impeachment. It's not a bill that Harry Reid can refuse to bring to a vote.
Besides, Chief Justice Roberts presides over the trial in the Senate, not Reid.
-PJ
Reid is wrong legally, Constitutionally and very simply factually.
1. Only Congress can authorize NEW debt issues by tshe Federal Government - the treasury, Constitutionally MUST have CONGRESSIONAL authorization for them; the Executive can only carry them out, it cannot self-authorize them.
2. Raising the national debt “ceiling” IS a matter of CONGRESS authorizing the treasury to issue more debt than has already, previously been authorized. Raising the “national debt ceiling” IS the treasury issuing MORE debt, AS AUTHORIZED BY CONGRESS, so that the total debt outstanding is increased.
3. NOT raising the “national debt ceiling”, in and of itself, CANNOT cause a failure of the federal government to honor the full faith and credit of the debt it already has.
4. Failure to honor the full faith and credit of any U.S. debt has nothing to do with the debt ceiling.
5. Failure to honor the full faith and credit of any U.S. debt can only occur when the treasury fails to make interest or principal (on maturity) payments on debt already issued. It has nothing to do with any new debt ceiling/limit. If principal is paid on an older debt issue, the sum of that debt issue becomes available for new debt - if needed - under any authorized debt limit.
6. Failure to honor the full faith and credit of any U.S. debt can only occur when (a) the treaury is told to pay other things and leave U.S. debt obligations that are due (any, some, all) unpaid or (b) all available revenue IS used to pay U.S. debt obligations that are due and it is not enough to pay for all U.S. debt obligations that are due.
7. Harry Reid knows that neither (a) or (b) above are in the cards. Monthly federal revenue is enough to pay current U.S. debt obligations coming due and pay for SOME other things, and Obama may be an ideologue and a Marxist political thug, but his treasury dept will pay the debt obligations.
8. The only thing in real jeopardy if the “national debt ceiling” is not raised IS NOT “the full faith and credit” of the United States. The only thing in real jeopardy is Obama’s spending on all sorts of other things BESIDES any interest and principle due on any part of the federal debts.
Harry Reid is a liar par excellance. He knows there is neither a Constitutional crisis or a “national debt ceiling crisis” or a crisis concerning the “full faith and credit” of the United States.
The only thing IN CRISIS, concerning the national debt ceiling, is the ability of Obama and Reid to continue spending our money as they have been. That’s the fact.
The same is true of any illegal gun grab attempt-- we can hope the courts would immediately issue a restraining order, but that's a thin reed to hang the Republic upon.
More direct action would be necessary--the best would the states immediately convening a new Constitutional Convention and disbanding the current corrupt regime.
A democrat Senate would do nothing. It doesn’t matter who presides.
A democratic president could murder the chief justice in the presence of the democrat senators and they’d still vote to acquit.
It would be a waste of time.
How about a budget first!
As long as there are enough revenues coming in each month to pay the interest on the debt, there is no default.
This is just a trial balloon and it should be smacked down swiftly and surely by the GOP in the Congress.
If Obama attempts this, it will precipitate a Constitutional crisis.
They cannot do nothing. They must hold the trial.
-PJ
Are the canned goods in your cupboards in exact rows?
:>)
-PJ
It’s the debt that threatens the full faith and credit of the United States.
Is this why they are fanning the flames on Gun Control?
TT
The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;
To borrow Money on the credit of the United States;
NOWHERE above does it say the PRESIDENT shall have the power to pay the Debts and to borrow Money on the credit of the United States. If letting the President unilaterally raise the debt ceiling isn't a DIRECT and OBVIOUS violation of the Constitution, I don't know what is. But I'm sure our "Constitutional Scholar" President knows this and will follow the law to the letter, as he always does.
Treasonous Traitors, every Got damned one of them.
One other thought: All of this is BS anyway really. The Republicans are going to fold up.
These democrat Nazi pigs are begging Buckwheat to assume dictatorial powers.
We’re making a list.
We’re checking it twice.
We’re gonna find out who’s naughty or nice...
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