Yep, another ‘Grand Bargain’ as they like to call them (which always means we hoodwinked the public again) was quite possibly the final nail in the coffin for our dying U.S. Constitution. A slimy back-room deal between Obama & Harry Reid on one side, and Mitch McConnell and who? the US Chamber of Commerce, the Business Roundtable? I don’t know but one or more of these crony corporatists groups for sure, each feathering their own beds again, either business-wise or politically at the expense of Americans, the rule of law and the Constitution.
Obama has effectively taken the authority of raising revenue from the US House as is their duty and theirs alone, under Article 1, Section 7 of the U.S. Constitution, and given it to Obama in the current presidency, and to future presidents by virtually eliminating the debt ceiling forever.
How’d it happen?
“Congress had to approve any increases in the debt ceiling. It gave Congress leverage to negotiate with the President before approving debt ceiling increases. NOW if Congress refuses to pass a debt ceiling increase, the President has the power to veto the rejection. And it will require 2/3’s of both Houses to override the President’s veto. There’s no way both the Senate and the House would be capable of doing this. In other words, the President now has the ability to unilaterally get rid of the debt-ceiling limit. QE to infinity.”
QE for those who may not be familiar with the term, means Qualitative Easing, i.e., printing money. More and more spending, more entitlements, more foolish and wasteful programs all hastening hyperinflation, accelerating our mathematically inevitable bankruptcy at which time, the dollar collapses.
I wanna know, who was minding the store when this happened??? And I’m pissed!
Aloha, Mikie ~just a blogger (fightin’ like a girl)