Republican Flip-Flop: Give Obama The Power To Raise Debt Limit
The plan would require Congress to pass a bill allowing Obama to raise the debt limit on his own, contingent on a series of steps: Obama would have to notify Congress of his intent tor raise the debt limit — a high-sign to Congress that would be subject to an official censure known as a “resolution of disapproval,” and which Obama could veto. If he vetoed the resolution, and if Congress sustained the veto, then Obama would also have to outline a series of hypothetical spending cuts he’d make, equal to the amount of new debt authority he’d give himself. Only then would the Treasury be allowed to issue new debt.
In other words, Republicans are twisting themselves into pretzels, because they know if they don’t allow us to pay our bills, they’ll be to blame and it will cost them politically.Click here for reuse options!
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