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One can argue, of course, that the President does not have the power under the 14th Amendment to unilaterally lift the debt ceiling. But recently I’ve been seeing an argument to this effect that really makes no sense. Section 5 of the 14th Amendment says that “The Congress shall have power to enforce, by appropriate [...]
Archive for the ‘Debt ceiling’ Category
July 28th, 2011
July 26th, 2011
Category: Debt ceiling, Lese-Majeste
I realize that a large part of President Obama’s strategy through the debt limit fight has been to present himself as the grown-up, the reasonable one when everyone else is screaming and yelling. Fair enough. But he should also listen to his most recent Democratic predecessor: When we look weak in a time where people [...]
July 26th, 2011
Category: Debt ceiling, Lese-Majeste
It’s better, apparently, to trust in Republican goodwill: The White House said on Tuesday that the 14th Amendment of the U.S. Constitution was “not available” to President Barack Obama to avoid the August 2 deadline to raise the U.S. debt ceiling. “There are no easy ways out here. There are no tricks, there is no [...]
July 25th, 2011
Category: Debt ceiling
A minister in the Tory-led UK coalition has said out loud that the House Republicans are a bunch of “nutters” who constitute a threat to the world financial system.
July 25th, 2011
Category: Debt ceiling
Of course I’m waiting like everyone else to discover what the President has to say tonight. But here’s a hint about what’s actually going on: I met today with a civil servant who was deeply involved in the planning for a government shut-down back when the House GOP threatened not to extend the Continuing Resolution. [...]
July 21st, 2011
Category: Debt ceiling, Lese-Majeste
If this is true, then the dichotomy that I suggested last week, viz., Obama is either a Democrat and a moron or a Republican and a genius, is still valid: A Congressional aide briefed on ongoing negotiations between House Speaker John Boehner and President Obama says the two principals may be nearing a “grand bargain” [...]
July 18th, 2011
Category: Debt ceiling
On August 3, the Treasury could issue scrip in part-payment of all claims except debt interest.
July 15th, 2011
Category: Debt ceiling
Why are the negotiations about raising the debt ceiling rather than abolishing it?
