posted at 6:17 pm on July 1, 2011 by Allahpundit
Congress has raised the debt ceiling no fewer than 74 times in the past 50 years, but now, conveniently, it turns out the president’s inherent power under the Fourteenth Amendment may mean it was up to him all along. Again, go figure.
On a conference call with reporters Friday, Sen. Chuck Schumer (D-NY) acknowledged that President Obama may not need Congressional authorization to avoid a default on the national debt. But he noted, too, that the Constitutional debate on this question isn’t ripe enough yet for Obama to take an end run around Congress, even if Republicans refuse to increase the national borrowing limit.
July 1, 2011 | Categories: 2012 Election, Agency Regulation, America's Energy, America's Freedoms, Americans Reject Sharia and Islamic Supremacism, Cap and Tax, Cloward and Piven Strategy, Congress, Constitutional Responsibilities, Constitutional Rights, Corruption, Corruption in Government, Deficit, Economic Security, Economic Terrorism, Election 2012, Elections Politics, Energy and Oil, EPA Regulations, Excessive Government Spending, Federal Reserve Bank, Foreign Oil, Freedom Justice and Liberty, Fuel Prices, Government, Government Regulations, Healthcare, House of Representatives, Housing Crisis, Immigration, Jobs, Liberals Big Spending and Taxes, Manufactured Crisis, Media Corruption, Most Americans Reject Socialism, National Debt, National Security, New Media News, Nuclear Security, Politics, Progressives pushing for Marxism/Socialism, Radical Liberal Progressive Left, Senate, Stock Market, Banks & Financial Institutions, Tea Party Conservatives, TEA Taxed Enough Already, Terrorism, The Economy, The Environment, Treason, Unemployment | Tags: Charles Shumer, cloward and priven strategy, Democrats, GOP refuses to increase debt ceiling, marxist, Obama dodging Congressional authorization, Obama wants to crash economy, Socialist agenda | Leave A Comment »