But even more damaging to Republicans is the way they handed their citizen mandated legislative power to Barack Obama, damaging the US Constitution in the process. Constitutional scholars Herb Titus and William Olson explained it this way: "Title III of the Act reads the 'Debt Ceiling Disapproval Process.' Under this title Congress has transferred to the President the power to 'determine' that the debt ceiling is too low, and that further borrowing is required to meet existing commitments, subject only to congressional 'disapproval.' For the first time in American history the power to borrow money on the credit of the United States has been disconnected from the power to raise revenue."
The US Constitution's Article I, Section 8, Clause 2 vests in Congress the power "to borrow Money on the credit of the United States." Now these Republicans have handed their authority carte blanche to a President they say is unqualified to oversee the economy.
Ironically, "the markets" which Republican after Republican sighted as their reason for supporting this unconstitutional bill reacted badly. The Dow has rocketed lower, gold has moved higher, and clearly the markets aren't following the script handed them by DC.
Readers of this column have been prepared. We predicted that Washington would be unsuccessful in their drive to "fix" the economy. What the economy needs is less, not more intervention from DC. Free markets work when they are "free." Keynesian attempts to stimulate and regulate are killing progress and prolonging the economic woes.
Voters will take note that Republicans, when the chips were down, voted with Nancy Pelosi and John Boehner to keep the Washington merry-go-round humming.
©2011 Floyd and Mary Beth Brown. The Browns are bestselling authors and speakers. To comment on this column, e-mail firstname.lastname@example.org. Together they write a national weekly column distributed exclusively by Cagle Cartoons newspaper syndicate. Floyd is also president of the Western Center for Journalism. For more info call Cari Dawson Bartley at 800 696 7561 or e-mail email@example.com.