by Jeff Davis
A Yahoo News article reports: “The White House could resort to a little-known line in the US constitution to prevent a ruinous default if Democrats and Republicans do not agree to raise the debt ceiling by August 2, experts say. The 143-year-old clause, written to address still-potent divisions after the bloody Civil War, has been dredged up by legal scholars as well as the US Treasury secretary to suggest how a debt debacle might be avoided. But resorting to it could spark a constitutional crisis over just who — the Congress or the White House — controls the power of the federal purse, analysts say.”
Well, actually, that has never been in doubt in any parliamentary system since Oliver Cromwell’s time. A lot of people believe that the primary purpose of legislatures is to pass laws. Not so. Their primary purpose has always been to control the government’s revenues to make sure that the king doesn’t waste all the tax money on his empire wars or pet projects that get out of control. There is no doubt at all, according to the original Constitution, who is supposed to control the power of the purse. Well, there wasn’t until Obama came along.
Yahoo: “The US government reached its debt limit of $14.29 trillion in May and since then the Treasury has used special measures to allow the government to keep paying its bills. But unless the limit is raised by August 2, the Treasury says, growing spending and debt service commitments will force a default, which would have disastrous ripple effects throughout the global financial system.”
That definitely could happen unless the Democrats could (Gasp! Shock! Horror!) actually spend less.
Yahoo: “Republicans in Congress — which sets the debt cap into law — have refused to raise it unless the move is accompanied by deep spending cuts, and their talks with Democrats have made little visible progress. If the impasse is not broken, could President Barack Obama simply ignore the ceiling and borrow more money?”
Not legally, but a foreign born individual, lacking a real US birth certificate should not be president either.
The article goes on “Some legal experts believe he could, citing the 14th Amendment to the Constitution, adopted in 1868. With the country still wrestling with post-war divisions, section four of the amendment was written after politicians from the defeated South sought to block the north’s commitment to repay large debts arising from its victorious campaign.”
It looks like the Democrats are going to simply ignore the Constitution and do whatever the hell they want. Normally, that would be an impeachable offense, but don’t hold your breath.
We are about to pass by one more milestone in America’s slide toward a Third World status. We have 100 million Third World people in the US today and a Third World economy, an increasingly Third World infrastructure, and now we are headed for the last step, a Third World government wherein a brown-skinned president rules by decree.