Can a Nonexistent Congress Issue $1.2 Trillion in Debt?
Pursuant to the Budget Control Act, brought to you by the GOP leadership’s sellout, Obama notified Congress yesterday that the federal debt is approaching the statutory ceiling of $15.194 trillion. [The actual total debt is already $15.237 trillion, but a small amount is not subject to the limit.] As such, he is calling on Congress to grant him another $1.2 trillion in debt, conveniently enough to last him until after the election, with the possibility of saddling his successor with a tough decision over yet another debt limit increase. It is really more of a notification than a request. Obama will automatically receive his $1.2 trillion supercharged credit card unless two-thirds of Congress votes to disapprove of the request within 15 days.
In just three years, he has accrued $4.6 trillion in debt, more than Bush amassed during his entire eight-year tenure. Now he will add another $1.2 trillion by the end of his first term, and, thanks to the horrendous budget deal, which was cheered on by the same outlets that are now fawning over Mitt Romney, there’s nothing we can do about it.
But here’s the question: If Congress is in recess and cannot fulfill its responsibility to advice and consent, as the President has suggested, how can Obama fulfill his obligation of submitting a certification to Congress?
Harold
ACGR's "News with Attitude" 