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-   -   Democrats urge Obama to be ready to bypass Congress on debt cap (http://forum.e46fanatics.com/showthread.php?t=965205)

bimmerfan08 01-12-2013 10:38 AM

Democrats urge Obama to be ready to bypass Congress on debt cap
 
WASHINGTON (Reuters) - Top Democratic senators urged President Barack Obama on Friday to be ready to raise the debt ceiling without congressional approval in order to avert a damaging debt default.

Senate Majority Leader Harry Reid and his leadership team said Obama should use "any lawful steps" under his authority to "ensure that America does not break its promises and trigger a global economic crisis."

They urged Obama to act on his own if Republicans insist on a debt limit extension that is coupled with "unbalanced or unreasonable" spending cuts.

Democrats are anticipating another possible deadlock over the debt limit in Congress and hope a unilateral move, or the threat of one, by Obama would avoid a replay of the 2011 fight that pushed the country to the brink of default.

Obama has vowed not to negotiate with Republicans on the debt ceiling.

Republican reaction to Reid's letter showed no willingness to back down from their demands that spending cuts be part of the debt limit debate.

"The Democrat leadership hiding under their desks and hoping the president will find a way around the law on the nation's maxed-out credit card is not only the height of irresponsibility, but also a guarantee that our national debt crisis will only get worse," said Senate Republican leader Mitch McConnell.

Michael Steel, a spokesman for House of Representatives Speaker John Boehner, said, "The American people will not tolerate an increase in the debt limit without spending cuts and reforms."

Some analysts and Democrats believe the 14th Amendment of the Constitution gives the president the authority to raise the $16.4 trillion debt ceiling unilaterally.

That provision states the validity of government debt shall not be questioned. But the White House has so far ruled it out. One Senate Democratic aide said other legal options were being explored.

The U.S. Treasury is shuffling funds around to continue paying government bills. Those accounting maneuvers are due to run their course around mid-February.

"We believe that you must make clear that you will never allow our nation's economy and reputation to be held hostage," said the letter, signed by Reid and the three other leading Senate Democrats.

Republicans have said they will only approve a debt ceiling increase if it is accompanied by spending cuts and changes to big government programs Social Security and Medicare.

The Democratic leaders agreed that the borrowing cap increase should be separate from a deficit reduction plan. They said any fiscal deal should include spending cuts as well as additional revenue from the wealthy and the elimination of certain tax breaks.

http://news.yahoo.com/democratic-lea...-business.html

bimmerfan08 01-12-2013 10:40 AM

Senator Obama in 2006.

Quote:

The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the U.S. Government can't pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. ... Increasing America's debt weakens us domestically and internationally. Leadership means that "the buck stops here." Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.

evolved 01-12-2013 10:42 AM

Quote:

Originally Posted by bimmerfan08 (Post 15054495)
Senator Obama in 2006.

And at this time the Republicans were saying the same thing that Democrats are saying now. It's pathetic that both parties basically flip flop when the opposite party is in the big chair in the oval office.

Republicans in 2006 = C'monnnnnn guys, the debt and deficit don't matter!
Democrats in 2006 = We are burdening our children and grandchildren.

Republicans in 2008+ = This level of debt is irresponsible!
Democrats in 2008+ = C'monnnnnnn guys, the debt and deficit don't matter!

bimmerfan08 01-12-2013 10:44 AM

Quote:

Originally Posted by evolved (Post 15054497)
And at this time the Republicans were saying the same thing that Democrats are saying now. It's pathetic that both parties basically flip flop when the opposite party is in the big chair in the oval office.

:clap: It's quite ridiculous I would say.

Lair 01-12-2013 11:00 AM

Every time the republicans f*ck our country for party horsesh*t, they lose more votes.

bimmerfan08 01-12-2013 11:02 AM

Quote:

Originally Posted by Lair (Post 15054527)
Every time the republicans f*ck our country for party horsesh*t, they lose more votes.

It's both parties. Stop being ignorant...

Lair 01-12-2013 11:04 AM

Yeah, the democrats used a debt ceiling fight to tank our nation's credit rating like the republicans did. :rolleyes:

Take your own advice.

bimmerfan08 01-12-2013 11:08 AM

Quote:

Originally Posted by Lair (Post 15054537)
Yeah, the democrats used a debt ceiling fight to tank our nation's credit rating like the republicans did. :rolleyes:

Take your own advice.

I'm not republican nor democrat but blaming one party or the other is a sure fire way to not correct our issues. It only becomes a pissing match of who didn't do more harm than the other while Americans get screwed over. :rolleyes:

evolved 01-12-2013 11:09 AM

Quote:

Originally Posted by bimmerfan08 (Post 15054546)
I'm not republican nor democrat but blaming one party or the other is a sure fire way to not correct our issues. It only becomes a pissing match of who didn't do more harm than the other while Americans get screwed over. :rolleyes:

+1

Party cheerleaders are just as much a part of the problem as the shitty politicians they cheer for.

Act of God 01-12-2013 11:15 AM

I think the response should always be that of the party not in power.

Lair 01-12-2013 11:17 AM

Quote:

Originally Posted by evolved (Post 15054550)
+1

Party cheerleaders are just as much a part of the problem as the shitty politicians they cheer for.

Get back to me when party cheerleading leads to a federal credit downgrade.

MDydinanM 01-12-2013 11:19 AM

Quote:

Originally Posted by evolved (Post 15054550)

party cheerleaders are just as much a part of the problem as the shitty politicians they cheer for.

+1

NFRs2000nyc 01-12-2013 11:49 AM

Quote:

Originally Posted by evolved (Post 15054497)
And at this time the Republicans were saying the same thing that Democrats are saying now. It's pathetic that both parties basically flip flop when the opposite party is in the big chair in the oval office.

Republicans in 2006 = C'monnnnnn guys, the debt and deficit don't matter!
Democrats in 2006 = We are burdening our children and grandchildren.

Republicans in 2008+ = This level of debt is irresponsible!
Democrats in 2008+ = C'monnnnnnn guys, the debt and deficit don't matter!

This arguement is childish. It was wrong when Bush did it, and it is wrong that Obama is doing it. We can't do much about Bush now can we? I wasn't happy when Bush spent a fortune, and Im not happy that Obama continues to spend and doesn't do anything about it.

evolved 01-12-2013 11:50 AM

Quote:

Originally Posted by NFRs2000nyc (Post 15054615)
This arguement is childish. It was wrong when Bush did it, and it is wrong that Obama is doing it. We can't do much about Bush now can we? I wasn't happy when Bush spent a fortune, and Im not happy that Obama continues to spend and doesn't do anything about it.

The point


-----------------


Your head

I wasn't making any sort of argument outside of the fact that a majority of politicians, regardless of their stripes, are dipshits.


I must have missed where every Republican was outraged when Bush did it. It's childish to not see the hypocrisy that came forth January 2009.

2000_328CI 01-12-2013 11:56 AM

If we can't figure out debt, have Obama just raise it. If we can't agree on guns, just have Obama override everyone.... WTF is this

NFRs2000nyc 01-12-2013 12:48 PM

Quote:

Originally Posted by evolved (Post 15054618)
The point


-----------------


Your head

I wasn't making any sort of argument outside of the fact that a majority of politicians, regardless of their stripes, are dipshits.


I must have missed where every Republican was outraged when Bush did it. It's childish to not see the hypocrisy that came forth January 2009.

I wasn't talking about you. I said that argument is pointless. I didn't agree with the wars, I didn't agree with a lot of things Bush did. However, Bush is gone. Nothing we can do about it. I hoped Obama would stop the bad habits of washington and bush, but instead he added fuel to the fire.

2000_328CI 01-12-2013 04:43 PM

Campaigned on a public five day review of all legislation proposed to congress.

Prefers executive order.

MDydinanM 01-12-2013 05:17 PM

Quote:

Originally Posted by 2000_328CI (Post 15055182)
Campaigned on a public five day review of all legislation proposed to congress.

Prefers executive order.

Correct me if I'm wrong, but I read the article as stating democrats are urging Obama to take action by executive order. It said nothing of Obama's preference or his intentions other than vowing not to negotiate with republicans on raising the debt ceiling. .

Carskibum 01-12-2013 05:22 PM

Socialized medicine, working around the legislature...

This Obama gentlemen is just rewriting the game.

Lair 01-12-2013 06:37 PM

Quote:

Originally Posted by Carskibum (Post 15055260)
Socialized medicine, working around the obstructionists. . .

This Obama gentlemen is just rewriting the game.

Yes he is. I like that.


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