A provision in the Dedt deal today would TAKE AWAY the Congress’ power to increase the debt ceiling
GAME CHANGER, and not for the better!
Capitol Hill talk regarding the Senate deal apparently includes a provision that would take away the Congress’ power to increase the debt ceiling. According to Politico, it looks like the buzz appears to be true. The plan includes a proposal offered by McConnell in the 2011 debt ceiling crisis that allows Congress to disapprove of the debt ceiling increase, which means lawmakers will formally vote on whether to reject a debt ceiling increase until Feb. 7. Obama can veto that legislation if it passes. If Congress fails as expected to gather a two-thirds majority to override the veto, the debt ceiling would be raised. Wether it's four weeks from now or in one year, there'd be even less reason to put faith in a last-minute deal next time the U.S. is up against the debt limit.