Democrats urge Obama to be ready to bypass Congress on debt cap.


(Reuters) - Top Democratic senators urged President Barack Obama on Friday to be ready to raise the debt ceiling without congressional approval in order to avert a damaging debt default.

Senate Majority Leader Harry Reid and his leadership team said Obama should use "any lawful steps" under his authority to "ensure that America does not break its promises and trigger a global economic crisis."

They urged Obama to act on his own if Republicans insist on a debt limit extension that is coupled with "unbalanced or unreasonable" spending cuts.

Democrats are anticipating another possible deadlock over the debt limit in Congress and hope a unilateral move, or the threat of one, by Obama would avoid a replay of the 2011 fight that pushed the country to the brink of default.

Obama has vowed not to negotiate with Republicans on the debt ceiling.

Republican reaction to Reid's letter showed no willingness to back down from their demands that spending cuts be part of the debt limit debate.

"The Democrat leadership hiding under their desks and hoping the president will find a way around the law on the nation's maxed-out credit card is not only the height of irresponsibility, but also a guarantee that our national debt crisis will only get worse," said Senate Republican leader Mitch McConnell.

Michael Steel, a spokesman for House of Representatives Speaker John Boehner, said, "The American people will not tolerate an increase in the debt limit without spending cuts and reforms."

Some analysts and Democrats believe the 14th Amendment of the Constitution gives the president the authority to raise the $16.4 trillion debt ceiling unilaterally.

That provision states the validity of government debt shall not be questioned. But the White House has so far ruled it out. One Senate Democratic aide said other legal options were being explored.

The U.S. Treasury is shuffling funds around to continue paying government bills. Those accounting maneuvers are due to run their course around mid-February.

"We believe that you must make clear that you will never allow our nation's economy and reputation to be held hostage," said the letter, signed by Reid and the three other leading Senate Democrats.

Republicans have said they will only approve a debt ceiling increase if it is accompanied by spending cuts and changes to big government programs Social Security and Medicare.

The Democratic leaders agreed that the borrowing cap increase should be separate from a deficit reduction plan. They said any fiscal deal should include spending cuts as well as additional revenue from the wealthy and the elimination of certain tax breaks.

He's been using executive order to circumvent Congress already, so what else is new?

Hell it is no biggie, I can't remember who evoked executive order most but it was a Republican president. Were you crying about it then?

Once again, you are WRONG. Do your homework.

I've re-read the 14th Amendment a few times since this has come up, and I still don't believe that it applies in this case. That section of the Amendment was intended to apply to the payment of war debt and the cost of paying for the debt incurred in suppressing rebellions. It also discusses that the debt the Confederacy incurred during the Civil War was not to be paid by the U.S. government.

What is shown when in discussion is "The validity of the public debt of the United States,... shall not be questioned." The whole sentence is " 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." As one can plainly see, they mean two completely different things.

In my opinion, which of course doesn't matter in the least, the law does not apply.

No I am not, do yours.

From

Recent presidents:
GW Bush 268, so far
Clinton 363
G. Bush 165
Reagan 380
Carter 319
Ford 168
Nixon 345
Johnson 323
Kennedy 213
Eisenhower 481
Truman 893--a democrat... surprise, surprise...
FD Roosevelt 3,466--- wow, another democrat... weird, huh...

From the

Executive Orders Disposition Tables Index at the National Archives

http://www.archives.gov/federal-register/executive-orders/disposition.html

Read more: http://wiki.answers.com/Q/How_many_executive_orders_has_each_American_President_had_and_who_has_had_the_most#ixzz2HsjeoqVJ

Ok I stand corrected. In the most recent times it was a Republican.

Still didn't hear em crying about it with Bush.

The debt owed is mostly interest being paid to Banksters who are stealing the wealth of the world.

The goal of the Banksters is an unlimited debt ceiling. THIS IS WHAT THEY WANT.

The banksters want the entire world to be in debt.

These criminals will threaten Obama and force him to raise the debt ceiling.

I am against raising the debt ceiling. I say we default and let the chips fall where they may.

America needs to be strong, and congress needs to man up and start printing its own money and stop borrowing it from the Banksters.

Wrong again. Please do a little research before making erroneous statements.
Have you ever heard of William blythe ?

when they they (the dems) ever stop whining about it? how short your memory is...

I would favour they default on the debt right now...That would force the creditors to foreclose on the "country" (business corporation really). The US has been in receivership since 1933, and the only thing keeping it in business has been the (unknowing) largesse of its creditors.

I know you are all wondering why I think the country has been relying on the largesse of the Fed to stay open for business. That is because you think the bankers are the creditors of the company...They aren't!...YOU ARE!!

IS everybody happy about how the business has been running?...I didn't think so...FORECLOSE...Force it into default!

We may be, but unwillingly. I didn't sign any contract. LOL

You probably did...You just aren't aware of it...You'll have to rescind that contract with the US government. Got an SSN?...If so, you are in contract with the US corporation.

I tried years ago to close my social security account and they thought I was insane. I wanted all the money they had taken from me too.

The Amish have them all figured out. Maybe I should convert to Amish. I would miss my Internet though.

that SS-Account is a Hotel California Account!

...but she CAN leave...There is ALWAYS a remedy in law...It's usually just a matter of finding it.