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McConnell Proposal Gives Obama Power to Increase Debt Limit, what the heck?

I am very confused, what is McConnell thinking?  According to Stuart Varney, Obama can just veto the cuts and not honor them, smh...

 http://thecaucus.blogs.nytimes.com/2011/07/12/mcconnell-proposal-gives-obama-power-to-increase-debt-limit/

 

The Senate Republican leader, Mitch McConnell of Kentucky, said Tuesday that a bipartisan budget deal with President Obama was probably out of reach, and he proposed a plan under which the president could increase the federal debt limit without prior Congressional approval for offsetting spending cuts.

Mr. McConnell’s proposal reflected a growing sense of pessimism on Capitol Hill about the prospects that Mr. Obama and Congressional leaders could come to terms on a budget deal before the government’s borrowing authority hit its limit on Aug. 2. The negotiators sat down for another round of talks at the White House on Tuesday afternoon.

 

In an interview with CBS News, Mr. Obama said he “cannot guarantee” that the government can pay benefits next month to Social Security recipients, veterans and the disabled if Congress does not increase the federal debt limit, raising the political stakes even as Republicans hardened their opposition to him.

Mr. McConnell’s proposal would give Mr. Obama sweeping power to increase the government’s borrowing authority, in increments, by up to $2.4 trillion — enough, it is estimated, to cover federal obligations through next year — only if Mr. Obama specified spending cuts of equal amounts. But Congress would not have to approve the spending cuts prior to the debt-limit increase.

 

*update* 6:15 East.  I just heard McConnell say that "he wanted to do good but he refused to do harm."  I guess he felt that he had no choice...

 
agentwanda

Asked by agentwanda at 5:43 PM on Jul. 12, 2011 in Politics & Current Events

Level 35 (73,667 Credits)
This question is closed.
Answers (11)
  • I'm fairly certain that if Obama decides to NOT pay veterans, SS recipients, or disabled people that he will end up with a first hand lesson about what a revolution really is ~ and given the number of people involved, and the number of weapons in this country, it will make the first one look like a boring football game. Given how many others are already fed up with his policies and stupidity (and are counting the days until the next election), I have a feeling that those veterans and others will have a lot of help. The majority of the military is not fond of him and would likely side with the 'rebels', regardless of what orders he gave (and considering he was willing to scrap THEIR pay as well ... ).

    The mooch had better start doing his job, stop stealing from the people he IS responsible for paying, and stop GIVING away money to leeches and pet projects (along with the UN and other countries).
    Farmlady09

    Answer by Farmlady09 at 6:04 PM on Jul. 12, 2011

  • Obama needs money for re-election
    Anonymous

    Answer by Anonymous at 5:45 PM on Jul. 12, 2011

  • IDK if it's the dumbest thing I have heard or if it's the most brilliant thing I have heard. (probably neither when I think on it more). If he hands over that kind of power then Obama completely owns the consequences. Horrible idea, IMO. That just alienates Republican and conservative constituents that are against raising the debt ceiling. If my Congressman was for it I would vote him out at the earliest opportunity.  This info has me all confused now (that or the fumes from cleaning the house).

    QuinnMae

    Answer by QuinnMae at 5:52 PM on Jul. 12, 2011

  • I dunno. I heard grumblings about this but nothing for sure. I have not seen transcripts of what he said so I don't really know what he meant. I won't lambast him until I do.
    itsmesteph11

    Answer by itsmesteph11 at 7:09 PM on Jul. 12, 2011

  • Maybe he intends to cause a revolution.
    yourspecialkid

    Answer by yourspecialkid at 9:57 PM on Jul. 12, 2011

  • Thanks agentwanda. Some people really don't get it.

    @ YSK, it wouldn't surprise me if that WAS what he was trying to do. It would give him a great excuse to finally scrap that pesky COTUS that keeps getting in his way.

    @ anon ~ In 2010 there were 22.7 million veterans, 25 million on SS, the figures (since I don't have much patience to read through endless tables for you) for SSDI and SSI are muddy, but high as well. Look them up yourself. These people worked and/or were forced to pay into the system. Many were injured while defending the US and 'you'. Not paying them is not an option ... and given their training, you should be far more scared about THEM.

    I have to question why Obama hasn't mentioned not refilling those SNAP cards or not sending out HUD pmts. You should be scared anon; Obama tossed the poop into the rotary propulsion system with his comments lol.
    Farmlady09

    Answer by Farmlady09 at 11:00 PM on Jul. 12, 2011

  • I don't know all the facts but it would force them to give specifics on what is spent and cut. It would make the raises match cuts until he is out of office. It's more than just giving Obama carte blanch. I still have a problem with it though. It really still just kicks the can down the road.
    itsmesteph11

    Answer by itsmesteph11 at 12:24 PM on Jul. 13, 2011

  • Speaker Boehner said it was the last ditch effort to get something done, when he was on Brett Baier's program this afternoon...
    agentwanda

    Comment by agentwanda (original poster) at 7:45 PM on Jul. 12, 2011

  • I'm fairly certain that if Obama decides to NOT pay veterans, SS recipients, or disabled people that he will end up with a first hand lesson about what a revolution really is ~ and given the number of people involved, and the number of weapons in this country, it will make the first one look like a boring football gameAnswer by Farmlady09 3 hours
    --------------------------------------------------
    you need a vacation or ...some meds. you are a scary old biddie.

    Anon, Farmlady is right, imo! You should be scared and as far as, your childish name calling, are you old enough to be on C/M?
    agentwanda

    Comment by agentwanda (original poster) at 9:30 PM on Jul. 12, 2011

  • At least Mr. McConnell lis trying to bridge the gap to get the problem resolved and keep the country going .

    I haven't followed this issue in detail, i just don't have the time but I think he is to be commended for his initiative .
    janet116

    Answer by janet116 at 10:18 PM on Jul. 12, 2011

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