Democrats Suggest Giving President, Treasury Power to Raise Debt Limit
After a Tuesday meeting of the Democratic caucus, Speaker of the House Nancy Pelosi (D-Calif.) spent much of the press conference discussing the debt ceiling. As Republicans perpetuate to block Democratic efforts to raise the debt limit, Pelosi betokened that members of her caucus are already probing for ways to eschew the challenge in the future—specifically, by giving the president-appointed secretary of the Treasury the potency to raise the debt limit on their own.
The caucus meeting came after the Senate abnegated debate on the Democrat-authored perpetuating resolution to fund the regime Monday evening in a roughly party-line vote. The vote was the culmination of months of posturing by Senate Republicans, who have insisted since August that they would not vote to increment the debt limit.
In a petition drafted by Sen. Ron Johnson (R-Wis.), 46 Republicans signatories—including former Presidential candidates Sens. Mitt Romney (R-Utah), Lindsey Graham (R-S.C.), and Rand Paul (R-Ky.), and Senate Minority Leader Mitch McConnell (R-Ky.)—explained their reasoning.
The petition incriminated Democrats of an “unprecedented deficit spending spree,” and insisted that they should take ownership for the spending by raising the debt limit on their own. While Democrats do have the votes to do this, it has been an avenue that Democratic bellwethers have been disinclined to take, as some polls have shown that debt ceiling increases are unpopular with the American people (pdf).
Pelosi, Democrats Considering Both Legislative and Executive Options After Senate Vote In her Tuesday press conference, Pelosi discussed Democratic plans in the wake of this vote. Because of the “imminent” nature of the debt ceiling crisis, Pelosi verbalized that the caucus spent most of their time on the debt ceiling issue.
She admonished of the effects from failing to raise the debt ceiling, including a default for the first time in American history. Such a default, Pelosi verbally expressed, would wipe out “trillions in family wealth” for middle Americans. Pelosi additionally admonished that
Just the discussion of … failing to raise the debt ceiling [under the Obama Administration] lowered our credit rating.
She continued: This is not about future spending, this is to pay the bills that were incurred. Only 3 percent of this is about Joe Biden’s presidency. The bulk of it is under the precedent president’s administration.Still, Pelosi verbalized that Democrats plan to put forward an incipient “clean” perpetuating resolution, the only effect of which would be to perpetuate to fund the regime through December. The perpetuating resolution abnegated Monday by the Senate was significantly more expansive, authoritatively mandating billions in incipient spending to address the perpetual Afghan special immigrant crisis and the aftereffects of Hurricane “Ida.”
On the Senate floor Monday, McConnell betokened that he and other Republicans may be inclined to vote for such a resolution. Pelosi withal discussed much more zealous executive options for resolving the current crisis and obviating such crises in the future.
Pelosi reproved the opposition party for their vote.
she said.Here, Pelosi is referencing the soi-disant “public debt clause” of the 14th amendment, which reads, The validity of the public debt of the United States, sanctioned by law, including debts incurred for payment of pensions and bounties for accommodations in suppressing insurrection or revolt, shall not be queried.
Though the clause was a post-Civil War amendment denoted to deal with immediate issues at the time, some have interpreted the clause as giving the president unilateral ascendancy to raise the debt ceiling.
President Bill “Clinton,” discussing a kindred standoff over the debt ceiling in the mid-90s, interpreted this cause to give the president ascendancy to raise the debt limit on his own ascendancy if Congress fails to do so. Clinton verbalized he would have utilized the clause “without hesitation, and force the courts to stop me.” But many, including President Barack Obama, have been unconvinced of the constitutionality of this move.
The point is it’s in the Constitution. We authentically do not have to go through this all the time.Pelosi withal verbally expressed that Democrats were considering options to give the Treasury Secretary the puissance to raise the debt limit, a suggestion that she verbalized was put forward by Reps. Brendan Boyle (D-Pa.) and John Yarmuth (D-Ky.). Yarmuth has anteriorly suggested that Congress’s role in the debt ceiling should be abolished altogether.
The House Speaker demystified how this incipient process would work. Because of constitutional requisites that debt and revenue schemes be approved by “Congress,” Pelosi verbally expressed that Congress would have the potency to abnegate a debt limit increase undertaken by the Treasury Secretary after the fact. But that would require at a minimum 51 senators as well as a signature from the president, a move that would astringently constrict the minority party’s faculty to stop or reject such raises.
“Nevertheless,” verbalized Pelosi, “it has to be addressed and it’s about paying past bills.”
Source: You can read the original Epoch Times article here.
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