The President doesn't need congress to increase the debt, the 14th amendment (unemployment, Putin)
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First, taxes under Obama are lower than under Bush.
Second, if you have an issue with spending, the time to address that is when the budget is formed -- not to link it to raising the debt ceiling, which if defaulted, would throw the nation into depression.
Well that's neat, considering the Dems haven't submitted a budget for 2 years!!
Without issuing new debt the nation would either need to come up with $750 billion in taxes immediately or cut $750 billion in spending immediately. That means that contractors wouldn't get paid and most of the government would stop.
You should get the Internet, it's a wonderful resource.
"A little more than two weeks after taking office, Obama signed into law a bill expanding the Children’s Health Insurance Program. That was financed in part by an increase in the federal excise tax on cigarettes and other tobacco products; it went into effect on April 1, 2009.
There were also several tax increases included in the Patient Protection and Affordable Care Act, also known as the health care law. The biggest tax in the law is an extra 3.8 percent tax on investment income, which applies to persons making more than $200,000 a year or couples making more than $250,000. That one starts in 2013, and is expected to bring in $210 billion through 2019, when coupled with a 0.9 percent increase in the Medicare payroll tax for upper-income earners. But other taxes, like the new 10 percent tax on indoor tanning services, have started already. The 30 million Americans who reportedly use tanning beds have been paying more since July 1, 2010."
If he try's it congress will simply stop authorizing spending. He can raise money to pay off debt, but he can't get nickel of new spending. Everything grinds to a halt.
Congress can't stop an executive order to follow the constitution.
The only recourse congress would have would be to file suit against the President, and that would require a joint resolution of both houses.
Thats not going to happen, because it would require a 2/3rds majority in both houses. Its impossible in todays American political system to get that kind of majority.
Not everything would grind to a halt. All US federal spending that doesn't have to do with paying pensions or the debt would be stopped. But social security and medicare, because they are government debts to people who paid into them, would continue.
Congress can't stop an executive order to follow the constitution.
The only recourse congress would have would be to file suit against the President, and that would require a joint resolution of both houses.
Thats not going to happen, because it would require a 2/3rds majority in both houses. Its impossible in todays American political system to get that kind of majority.
Not everything would grind to a halt. All US federal spending that doesn't have to do with paying pensions or the debt would be stopped. But social security and medicare, because they are government debts to people who paid into them, would continue.
Ending all appropriations would ultimately get The Republicans what they want with cover provided by Obama. I don't think even he is that dumb.
Last edited by shorebaby; 07-02-2011 at 08:04 AM..
Ending all appropriations would ultimately get The Republicans what they want with cover provided by Obama. I don't think even he is that dumb.
Its not that dumb, its his constitutional requirement.
The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.
Republicans have played the government shut down card before, everytime they lose.
To me the question still remains. Why did President Obama put together a Debt Commission (Bowles/Simpson) and then ignore their recommendations to reduce the deficit?
"Their recommendations are more or less a list of the third-rail issues of American politics, including cuts in the number of federal workers; increasing the costs of participating in veterans and military health care systems; increasing the age of Social Security eligibility; and major cuts in defense and foreign policy spending. They also encompass a range of tax system reforms that have been floated by many in Washington for years to little effect, including funding tax rates reductions by eliminating many beloved credits and deductions."
Its not that dumb, its his constitutional requirement.
The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.
Republicans have played the government shut down card before, everytime they lose.
Lol, not if Obama pulls an Imperial Presidency, the people will demand it.
Section 4 of the 14th amendment gives the president the authority to pay all debts of the United States. That prevents the need for a debt ceiling raise.
BHO can do anything he wants to he is the suprimo.
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