Why do we even HAVE a “debt ceiling”? Plenty of people have asked this question in the past and no one seems to have a good answer. It doesn’t limit spending. Spending is decided in The House, and clearly Congress doesn’t keep the Debt Ceiling in mind when passing a Budget or appropriations. It’s a self-imposed limitation passed in 1917 during the
Two weeks ago, I predicted that the Tea Party extremists that think nothing bad will happen if we fail to raise the Debt Ceiling have a secret goal in mind: forcing President Obama to invoke the 14th Amendment to circumvent Congress and avoid default, and therefore provide them with an excuse to begin impeachment hearings in the House against the president in an election year. It’s a win/win for Teanuts with NO incentive to give-in and raise the Debt Ceiling before the deadline. If the deadline passes and the ceiling is not raised, they do irreparable harm to the government and they win. If President Obama invokes the 14th, the House begins impeachment hearings and they win again. The Teanuts have NO incentive to compromise as long as they stay insane. However, it appears the “Tea Party” is about as popular with the public right now as a pimple on a first date, and Moderate Republicans are starting to have second thoughts about being seen as aligned with them. If a clean vote to raise the Debt Ceiling comes to the floor before the ceiling expires, there’s probably not enough Teanuts to prevent the bill from passing and their grand scheme falls apart.
IF however they convince enough Republicans that saying “No” is a “win/win”, they might very well take us to the brink.
Consider for a moment though that if the Debt Ceiling is raised at the last minute once again, it’s future value as a threat drops to nil, and the GOP knows it. Because the next time they do it, the rest of the world will just yawn, knowing it’s just the GOP playing games again, confident in the knowledge that it will eventually be raised at the last second. So we might as well just abolish it. Take it away from Congress so the full
If the Debt Ceiling is not raised, we’ll have to raise interest rates to entice other countries into loaning money to a nation that might not pay them back. Every
President Obama, screw the GOP. Invoke the 14th Amendment and deny the GOP this hostage now & forever. If you give a child a gun and that child threatens you with it till you exchange it for a cookie, you don’t then turn around and give the gun back. “ObamaCare” passed Congress and it became law on the condition that it not take effect until AFTER the 2012 election (believing the public will so hate it, they’ll elect a Republican to overturn it.) It survived a Constitutional challenge in the Supreme Court AND the 2012 Election, yet less than half of
It’s time to stop handing this hostage back over to the kidnappers and set it free.
Got something to say? Mugsy’s Rap Sheet is always looking for article submissions to focus on the stories we may miss each week. To volunteer your own Op/Ed for inclusion here, send us an email with an example of your writing skills & choice of topic, and maybe we’ll put you online!
|Please REGISTER to be notified by e-mail every time this Blog is updated! Firefox/IE users can use RSS for a browser link that lists the latest posts!|