Who cares if we don’t have a budget — let’s spend more! President Obama has decided to raise the debt ceiling once more, and forget about needing Congressional approval. Thanks to the agreement reached in August, it’s still going up.
President Obama formally notified Congress on Thursday of his intent to raise the nation’s debt ceiling by $1.2 trillion, two weeks after he had postponed the requestto give lawmakers more time to consider the action.
Congress will have had 15 days to say no before the nation’s debt ceiling automatically is raised from $15.2 trillion to $16.4 trillion.
In a letter to House Speaker John A. Boehner (R-Ohio), Obama wrote that ”further borrowing is required to meet existing commitments.”
Obama had sought to make the request at the end of last month, when the Treasury came within $100 billion of its borrowing limit. However, with Congress on recess, lawmakers from both parties asked the president to hold off. The House is out of session until Jan. 17, and the Senate until Jan. 23.
Since then Treasury officials have used special revenue and accounting measures to maintain the nation’s solvency. Yet the White House cast the delay as a technicality, saying there is no chance the limit will not be increased, even if Republican lawmakers attempt to object.
Hey, what’s another trillion? Chump change at this point.(townhall.com)
When in Debt Spend Even More!
Yet the White House cast the <previous> delay as a technicality, saying there is no chance the limit will not be increased, even if Republican lawmakers attempt to object.
Under an agreement reached in August, Congress and the White House moved to raise the debt limit in three increments while also implementing $2.4 trillion in budget cuts. The deal, however, also gave Congress the option of voting to block each of the debt-ceiling increases by passing a “resolution of disapproval.”
Even if such a resolution were passed, Obama could veto it, and he could be overridden only by a two-thirds supermajority in each chamber.
In September, when the first debt-limit hike was scheduled to take effect, the Republican-led House passed a disapproval resolution, but the Democrat-controlled Senate blocked it and the debt ceiling was raised
White House officials said they do not expect the Senate to support a disapproval resolution this time even if the House passes one again. (WP)
Democrat Control anyone?
Oh right, it’s a “do nothing” Congress and everything is their fault…
Obama said, “Everything that we fought for is now at stake in this election.”
Very true. Liberal Socialism is on the line.
I just wish it was a firing line. But I’m not sure the Republicans aren’t the Gang Who Couldn’t Shoot Straight! 😦
Under any of these possibilities, the fact remains that he is hellbent on accelerating his present course, not reversing it, on dictating, not working within his constitutional constraints, much less building a bipartisan consensus.
Hubris and defiance are his trademarks, not humility. He said, “If you’re willing to work even harder in this election than you did in the last election, I promise you, change will come.”
And considering the “change” we already have I pity the fool who wants more of it.
He has repeatedly indicated that he is frustrated with the process of republican government and that he would be much more comfortable as a dictator.
Just consider how brazenly Obama has pursued his unpopular agenda even while facing re-election. Think how he joked about having made a hollow promise of shovel-ready jobs when there is no such thing and how he is unchastened by the colossal waste of Solyndra and pursuing more of the same. Consider how he cavalierly refuses to account for his promise to keep unemployment capped at 8 percent and how he assured us, on his honor, that his designated stimulus cop, Vice President Joe Biden, wouldn’t allow a dollar of waste to go unpunished in his stimulus plan. Chew on his refusal to listen to the public when it resoundingly rejected Obamacare, rebuffing his agenda in the U.S. Senate election in Massachusetts and again in the 2010 congressional elections. Ponder his petty partisanship, bullying, demonizing and class warfare and his frequent invocation of the race card. Can you conceive of how he’d act as a four-year lame duck?
You all surely heard Obama, thinking he was speaking only to friends, boast that he was for a single-payer plan but that it might take 15 years to implement it. Remember this when his supporters tell you Obamacare won’t degenerate into socialized medicine. Those waivers he unilaterally issued to buy off companies now won’t be available next time around when the full force of Obamacare rains down its dark waters.
Think about his Independent Payment Advisory Board, which will have 15 bureaucrats once Obamacare is up and running, when he won’t have to worry about 2016. Before you pooh-pooh this, you’d better do your research on his health care mentors’ (e.g., Tom Daschle, Donald Berwick) philosophy about the macabre rationing of health care for the aged.
So, call me an alarmist if you will, but I think it’s almost irrational not to be very concerned about an Obama second term. Even if you don’t subscribe to some of the horror scenarios of death panels and the like, how about his intention to continue to press forward with his radical green agenda despite the fact that it won’t work to reduce global temperatures and despite the public’s opposition to it?
More importantly, how about his absolute refusal to restructure entitlements or his refusal to lead his party’s Senate to pass a budget after 1,000 days? Or his insistence on another stimulus package when unemployment — even using the distorted metrics the administration is now using — is still at 8.5 percent and it would add another half-trillion dollars to the national debt?
By rights, Obama shouldn’t get 10 percent of the vote in November. Even those who want to punish the “wealthy” should understand that once you completely gnaw off the hand that feeds you, you will starve, too.(David Limbaugh)
The record of President Obama’s first three years in office is in, and nothing that happens now can go back and change that. What that record shows is that President Obama, with his throwback, old-fashioned, 1970s Keynesian economics, has put America through the worst recovery from a recession since the Great Depression.
The recession started in December, 2007. Go to the website of the National Bureau of Economic Research (www.nber.org <file://localhost/owa/redir.aspx>) to see the complete history of America’s recessions. What that history reveals is that before this last recession, since the Great Depression recessions in America have lasted an average of 10 months, with the longest previously lasting 16 months.
When President Obama entered office in January, 2009, the recession was already in its 13th month. His responsibility was to manage a timely, robust recovery to get America back on track again. Based on the historical record, that recovery was imminent, within a couple of months or so. Despite widespread fear, nothing fundamental had changed to deprive America of the long term, world-leading prosperity it had enjoyed going back 300 years.
Supposedly a forward looking progressive, Obama proved to be America’s first backward looking regressive. His first act was to increase federal borrowing, the national debt and the deficit by nearly a trillion dollars to finance a supposed “stimulus” package, based on the discredited Keynesian theory left for dead 30 years ago holding that increased government spending, deficits and debt are what promote economic growth and recovery. That theory arose in the 1930s as the answer to the Great Depression, which, of course, never worked.
Unemployment actually rose after June, 2009, and did not fall back down below that level until 18 months later in December, 2010. Instead of a recovery, America has suffered the longest period of unemployment near 9% or above since the Great Depression, under President Obama’s public policy malpractice. Even today, 49 months after the recession started, the U6 unemployment rate counting the unemployed, underemployed and discouraged workers is still 15.2%. And that doesn’t include all the workers who have fled the workforce under Obama’s economic oppression. The unemployment rate with the full measure of discouraged workers is reported at http://www.shadowstats.com <file://localhost/owa/redir.aspx> as about 23%, which is depression level unemployment.
Under President Obama, America has suffered the longest period with so many in such long-term unemployment since the Great Depression.
Going to be a fun year. Enjoy Friday the 13th! 🙂