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Democrats urge Obama to be ready to bypass Congress on debt limit
Ms Sans Serif
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[quote:TastyThoughts:MV8yMTA4NjY5XzM1NTQ0NzgzXzg3OUExMDQ0] Setting the "Precedent" MMmm? [/quote]
You Democrats are about to cross the line with this shit!
has the right to do this:
Article I, Section 8.
"The Congress shall have power ...
To borrow Money on the credit of the United States;"
link to news.yahoo.com
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.
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.
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