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interesting. its only a discussion mind you, they are exploring all avenues open to them as options. there is nothing wrong with that.
I am just wondering where/how Obama would find the justification after the congress has in the past raised the debt. limit what, 70 times? Surely he cannot be the first exec. to face such a dilemma?
If he, well, his lawyers find what they thought was a way to do so, how would that go down in the public's eyes without an accompanying bill addressing the deficit and all its drivers; DOD, Medicare, Medicaid etc....?
Is this a leak they provided on purpose so as to scare the herd of Reps. into making a deal on Democratic terms?
Finally; if he can, should he?
Schumer confirms White House considering ignoring debt limit
Conn Carroll | Senior Editorial Writer Follow Him @conncarroll | 07/01/11 2:42 PM
This morning we speculated that Treasury Secretary Tim Geithner was seriously considering just ignoring the statutory debt limit by claiming it was superseded by section Four of the 14th amendment. Sen. Chuck Schumer, D-N.Y., confirmed that that course of action has been considered by the White House. Talking Points Memo‘s Brian Beutler reports on a conference call with Schumer today:
I asked Schumer, a lawyer, whether, in his view, the administration had the power to continue issuing new debt even if Congress fails to raise the debt limit. He acknowledged that the question’s been discussed, but said the White House probably shouldn’t go there just yet.
Read more at the Washington Examiner: Schumer confirms White House considering ignoring debt limit | Conn Carroll | Beltway Confidential | Washington Examiner
I am just wondering where/how Obama would find the justification after the congress has in the past raised the debt. limit what, 70 times? Surely he cannot be the first exec. to face such a dilemma?
If he, well, his lawyers find what they thought was a way to do so, how would that go down in the public's eyes without an accompanying bill addressing the deficit and all its drivers; DOD, Medicare, Medicaid etc....?
Is this a leak they provided on purpose so as to scare the herd of Reps. into making a deal on Democratic terms?
Finally; if he can, should he?
Schumer confirms White House considering ignoring debt limit
Conn Carroll | Senior Editorial Writer Follow Him @conncarroll | 07/01/11 2:42 PM
This morning we speculated that Treasury Secretary Tim Geithner was seriously considering just ignoring the statutory debt limit by claiming it was superseded by section Four of the 14th amendment. Sen. Chuck Schumer, D-N.Y., confirmed that that course of action has been considered by the White House. Talking Points Memo‘s Brian Beutler reports on a conference call with Schumer today:
I asked Schumer, a lawyer, whether, in his view, the administration had the power to continue issuing new debt even if Congress fails to raise the debt limit. He acknowledged that the question’s been discussed, but said the White House probably shouldn’t go there just yet.
Read more at the Washington Examiner: Schumer confirms White House considering ignoring debt limit | Conn Carroll | Beltway Confidential | Washington Examiner
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