Sadly hilarious, in a predictable way…. we are only four days into the new year and already it appears five of our ten predictions for 2013 will come to fruition....
WASHINGTON — Senate Majority Leader Harry Reid (D-Nev.) has privately told other Democrats, including President Obama, that if the administration used its constitutional and executive authority to continue paying its debts in the face of House Republican opposition, he would support the approach, according to a source familiar with Reid’s message to the president.
The simplest escape route out of the debt ceiling impasse is for the president to direct the Treasury to find a legal way to pay its debts. The Treasury then has a variety of options. One gaining particular attention relies on a law that allows the Treasury to mint a coin of unspecified value and deposit it with the Federal Reserve. Those funds could then be used legally to pay debts.
“Reid has not dismissed any option,” said the source close to Reid.
Old, worn out, pre-Obama, model of U.S. Governance
The 14th Amendment states that “the validity of the public debt of the United States, authorized by law … shall not be questioned.” Last month, White House spokesman Jay Carney told reporters that “[t]his administration does not believe that the 14th Amendment gives the president the power to ignore the debt ceiling — period.” (read more)
Previously: Nancy Pelosi Dreaming Of Being A Dictator: “If I Was President I Would Unilaterally Raise Debt Ceiling In A Second”: (CNSNews.com) – House Minority Leader Nancy Pelosi (D-Calif.) said Friday that she would raise the debt limit unilaterally “in a second” is she were president of the United States.
Pelosi and other Democrats have suggested that the president could bypass Congress and unilaterally raise the debt ceiling by invoking the 14th Amendment of the Constitution, which states, “The validity of the public debt of the United States…shall not be questioned.”
During her weekly press conference on Capitol Hill, Pelosi was asked about whether she would urge President Barack Obama to do so to address the debt limit, which will be exceeded by the end of February.
“Will you urge the president on the constitutional obligation to pay [the debt]?” a reporter asked.
“I don’t know, I think I’ve made my—in speaking to all of you, I’ve made my view very clear on that subject,” Pelosi said.
“I would do it in a second,” she said. “But I’m not the president of the United States.” (more)