Obama: Give Me Debt Ceiling Power Or I’ll Veto My Own Tax Proposal
In case there is still anyone out there that continues to believe that the 2008 campaign lines that Barack Obama gave about changing the way Washington works, stopping “politics as usual,” and providing more transparency in government are true, then get a load of this. On Wednesday, Obama demonstrated just how partisan and how much of a power grabber he is. He indicated that if he were not given unlimited powers to raise the debt ceiling, apart from Congressional approval, that he might just veto his own tax hike proposal should it come to his desk.
As Obama addressed corporate CEOs at the Business Roundtable, he told them that business leaders “should not accept going through” another debt-ceiling crisis like the one that occurred in 2011, which caused stocks to fall and ended with the first U.S. credit rating downgrade.
He said that the Republicans using the debt ceiling as leverage, in order to get more spending cuts, is not only a “bad strategy for America,” but he was adamant that it was a game he would not play.
The Hill reports,
The president told the CEOs that a fight over the debt ceiling would cause more uncertainty for business. “We can’t go there again,” Obama said.
He also quoted Business Roundtable President John Engler, the former Republican governor of Michigan, who said the debt ceiling was “not a good weapon for anything except destroying our own credit rating.”
Obama’s comments drew a sharp rebuke from Republicans, who argue Congress’s role in raising the debt ceiling serves as a key check on excessive government spending. GOP leaders noted proudly they were able to force some $2 trillion in cuts during the debt-ceiling showdown last year.
“The president wants to have the ability to raise the debt ceiling whenever he wants, for as much as he wants, with no responsibility or spending cuts attached,” said spokesman for Senate Minority Leader Mitch McConnell (R-KY) Don Stewart. “This is an idea opposed by Democrats and Republicans alike; it’s a power grab that has no support here.”
We already know that Obama and the Democrats are not willing to compromise on anything. They even rejected House Speaker John Boehner’s proposal on Tuesday, which was blasted by conservatives. Obama is going to play hardball and the Republicans had better wake up to that. You’ve been dealing with the man for four years now.
Consequently, Obama’s own proposal could not pass either the House or the Senate, but apparently he wants to be the “Buzz Lightyear” of debt and demand the power, given to Congress in Article 1, Section 8 of the U.S. Constitution, and go from $16 trillion to “infinity and beyond!” Congress must keep him in check or it will most certainly spell the end for the U.S. economy. Click to expand...