Treasury Secretary Timothy Geithner made news last week by proposing to transfer the Congressional prerogative to raise the debt ceiling to the President. The change would essentially do away with the meaningless debt ceiling debates that have become ritual kabuki in Washington over the past few generations. Most Republicans have dismissed the proposal as a blatant executive power grab that will significantly weaken both the Congress and the minority party. While this is certainly true, Congress will only lose a power that it has never shown the slightest courage to actually use. But in truth, the proposal has the merit of...
Peter, "....the only way to force the government to actually pay its bills is to not raise the debt ceiling." Watching this current President and Democrat majority in the Senate, I can tell you now that if the House were not to raise the debt ceiling......Obama would break the law and spend whatever he wanted to. They are currently breaking the law by not producing a balanced budget. Why should we believe this "law breaker" President would do anything different?
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