Proposal to Give Control of Debt Ceiling to POTUS?

[Matt1970]

Obama sure loves trying to sidestep the constitution.

Under Article I Section 8 of the United States Constitution, Congress has the sole power to borrow money on the credit of the United States.

 

[hal2kilo]

Uh, the Congress already voted to spend the money. Its insane that after they vote to spend it they want to vote to pay back what they spent?

:thumbsup:
It's already committed by the Congress, now they want to turn around and welsh on their commitments. Makes no sense.

 

[Fern]

This is also incorrect. The debt limit or lack thereof has no constitutional basis, and Congress could definitely abolish the debt limit or give the president that power.

SCOTUS denied the line item veto for hugely different reasons, concluding that it vested legislative power in the president, something he doesn't have. Paying the bills for spending Congress has already directed to be spent would most certainly be constitutional.

The NYT disagrees with you, as do many others:

The Constitution grants only Congress — not the president — the power “to borrow money on the credit of the United States.” Nothing in the 14th Amendment or in any other constitutional provision suggests that the president may usurp legislative power to prevent a violation of the Constitution.

http://www.nytimes.com/2011/07/08/opinion/08tribe.html

Fern

 

[fskimospy]

The NYT disagrees with you, as do many others:



http://www.nytimes.com/2011/07/08/opinion/08tribe.html

Fern

Actually it doesn't disagree with me at all, you need to read your own links more carefully.

Although I and many others believe that the president could in fact unilaterally abolish the debt ceiling, this thread is about congress delegating that power while your editorial refers to the president unilaterally assuming such a power. There is about a world of difference between the two.

 

[Jhhnn]

Perhaps the most interesting aspect of all of this is that the Treasury has the power to create coins of any denomination thru seignorage, deposit them at the FRB, and write checks against them, regardless of what Congress does wrt the debt ceiling. The actual value of the metal in the coins is immaterial. There are other ways, as well-

http://www.cnn.com/2011/OPINION/07/28/balkin.obama.options/index.html

The fact that the Obama Admin hasn't even hinted at any of these options tells us that they've been making good faith efforts to proceed in a different fashion, unlike Congressional Repubs.

Repubs need to be careful what they wish for...

 

[the DRIZZLE]

Actually it doesn't disagree with me at all, you need to read your own links more carefully.

Although I and many others believe that the president could in fact unilaterally abolish the debt ceiling, this thread is about congress delegating that power while your editorial refers to the president unilaterally assuming such a power. There is about a world of difference between the two.

Did you read it? The author clearly believes that the arguments that the President can unilaterally abolish the debt ceiling are shaky at best.

 

[Jhhnn]

Did you read it? The author clearly believes that the arguments that the President can unilaterally abolish the debt ceiling are shaky at best.

You're not paying attention to what eskimospy actually said. He offered that Congress could delegate the responsibility of exceeding the debt ceiling to the President. When they pass legislation demanding that he borrow money to meet the obligations they set out for him to meet would be a very good time to do that. You know, just like every other advanced democracy...