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Fri Jan 11, 2013, 04:20 PM

Senate Dem leaders privately inform Obama they fully support unilateral exec action on debt limit

In a move that will significantly ratchet up the brinksmanship around the debt ceiling, the four members of the Senate Democratic leadership are privately telling the White House that they will give Obama full support if he opts for a unilateral solution to the debt ceiling crisis, a senior Senate Democratic leadership aide tells me.

The four Democratic leaders — Senators Harry Reid, Chuck Schumer, Dick Durbin and Patty Murray — have privately reached agreement that continued GOP intransigence on the debt ceiling means the White House needs the space to pursue options for raising it that don’t involve Congress, and that the White House needs to know that Dems will support whatever it decides to do.

In a letter to the White House signed by the four leaders that will soon be made public — and was sent over by a source — the Democrats say:

“In the event that Republicans make good on their threat by failing to act, or by moving unilaterally to pass a debt limit extension as part of an unbalanced or unreasonable legislation, we believe you must be willing to take any lawful steps to ensure that America does not break its promise and trigger a global economic crisis — without Congressional approval, if necessary.”

The rest: http://www.washingtonpost.com/blogs/plum-line/wp/2013/01/11/top-senate-dem-to-white-house-if-you-unilaterally-raise-debt-ceiling-youve-got-our-back/

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Reply Senate Dem leaders privately inform Obama they fully support unilateral exec action on debt limit (Original post)
JaneyVee Jan 2013 OP
samsingh Jan 2013 #1
patrice Jan 2013 #2
pa28 Jan 2013 #3
indepat Jan 2013 #5
Cha Jan 2013 #6
JDPriestly Jan 2013 #7
TheProgressive Jan 2013 #4
Cha Jan 2013 #8
John2 Jan 2013 #9
freshwest Jan 2013 #12
santamargarita Jan 2013 #10
blkmusclmachine Jan 2013 #11
daybranch Jan 2013 #13

Response to JaneyVee (Original post)

Fri Jan 11, 2013, 04:23 PM

1. mint the coin

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Response to JaneyVee (Original post)

Fri Jan 11, 2013, 04:32 PM

2. If The Federal Reserve can create PRIVATE money-as-debt . . .

a President should be able to create PUBLIC money-as-debt especially since we are the single biggest financiers of our own debt.

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Response to JaneyVee (Original post)

Fri Jan 11, 2013, 04:32 PM

3. And here's the letter:

Sounds like Harry Reid supports using the 14th amendment even if the President does not. The Senators realize they are not dealing with rational actors on the Republican side.

http://democrats.senate.gov/uploads/2013/01/Letter-to-POTUS.pdf

January 11, 2013

The President
The White House
Washington, DC 20500

Dear Mr. President:

As you know, Republican leaders are threatening to bring on an economic catastrophe unless Democrats make deep cuts to Social Security and Medicare.

This threat is outrageous and absurd. Defaulting on America’s legal obligations would undermine the American economy and spread global economic havoc. Just two years ago, Speaker Boehner himself admitted that failure to raise the debt limit “would be a financial disaster, not only for us, but for the worldwide economy.”

It is hard to imagine that the Speaker and Leader McConnell would really follow through on their threat to let our nation default on its debts. They are responsible leaders who know better. Sadly, some of their Republican colleagues do not. Therefore, we believe that you must make clear that you will never allow our nation’s economy and reputation to be held hostage. In the event that Republicans make good on their threat by failing to act, or by moving unilaterally to pass a debt limit extension only as part of unbalanced or unreasonable legislation, we believe you must be willing to take any lawful steps to ensure that America does not break its promises and trigger a global economic crisis — without Congressional approval, if necessary.

As you know, increasing the debt limit does not authorize new spending. It merely ensures that we meet our existing obligations. Those obligations were incurred by both Republicans and Democrats, and are the responsibility of all Americans.

Accordingly, we hope that you will continue to ignore claims that agreeing to an increase in the debt limit would somehow represent a concession by Republicans to Democrats. All Americans, Democrats and Republicans alike, have a stake in ensuring that our country meets its legal obligations. Financial markets have long viewed securities backed by the full faith and credit of the United States as the most trustworthy in the world. This lowers borrowing costs for homes, cars, and college for all Americans and strengthens our economy. If we violate that trust for the first time in history, we will never fully regain it, and every American will suffer.

For all these reasons, we support your view that an extension of the debt limit is not something for which Democrats should have to negotiate. At the same time, as a separate matter, we agree about the importance of developing a broad, bipartisan agreement on fiscal policy that strengthens our economy and reduces our long-term budget deficit.

As you have said, any such agreement must treat all Americans fairly and include not just responsible spending cuts but additional revenue from the wealthy and the elimination of wasteful tax breaks. It would be wrong to slash earned benefits for seniors and middle class families, while allowing corporations, millionaires, and billionaires to continue to exploit wasteful tax loopholes. We therefore hope that you will continue to insist that the entire budget be on the table, and that any agreement be fully balanced and fair.

Thank you for your consideration of our views.

Respectfully,

Senator Harry Reid
Senator Dick Durbin
Senator Chuck Schumer
Senator Parry Murray

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Response to pa28 (Reply #3)

Fri Jan 11, 2013, 05:05 PM

5. Let this be but the first of a fuselage of rockets shot up the asses of Herr

Boehner and Herr McConnell and other renegades/terrorists who would hold hostage/otherwise inflict irreparable harm on our nation. Deal with them as any other terrorists would be dealt with.

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Response to pa28 (Reply #3)

Fri Jan 11, 2013, 06:49 PM

6. Thanks for the letter from Harry Reid, pa28..

This is war against an enemy of the state.. and fire with fire is warranted.

Thanks JaneyVee

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Response to pa28 (Reply #3)

Fri Jan 11, 2013, 06:50 PM

7. Seniors and middle class families have paid their dues.

Those seniors who save even small amounts of money are not earning enough to keep up with inflation on their savings. The very low interest rates that the Democratic leaders want to protect cost seniors who saved and cannot work.

There is no excuse whatsoever for also cutting Social Security or the COLA rate on Social Security.

There is no excuse for cutting programs that help the neediest of Americans of any age.

The corporations do not pay their fair share of taxes. It's as simple as that.

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Response to JaneyVee (Original post)

Fri Jan 11, 2013, 04:57 PM

4. The 14th Amendment is my preferred remedy should Republicans hold America hostage

First, I would say that the debt ceiling act is unconstitutional.

Independent of that, if the Republicans threaten to or actually not
raise the debt ceiling, then the President of the United States, President
Obama *must* act to prevent the economic destruction of the USA. And citing
the 14th Amendment is exactly the reason why 1) the debt ceiling is illegal and
2) what Obama can use to basically tell the Republicans to pound sand.

Imagine if our House was infiltrated by say the Chinese or Russians or whoever
operatives whose sole missions was to destroy America's financial structure. A
President *Must* prevent it.

Use the 14th.

The Coin only solves the problem temporarily. The concept of the debt ceiling is
unconstitutional. The real fix is to repeal the Debt Ceiling Act altogether.

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Response to JaneyVee (Original post)

Fri Jan 11, 2013, 06:50 PM

8. P.S. Let them piss, moan, whine,

scream, etc, etc, etc.. They damn well DO ANYWAY.

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Response to JaneyVee (Original post)

Sat Jan 12, 2013, 12:11 PM

9. I wonder how far

 

the House Republicans think their end game is by threatening the United States? They can either cooperate like good citizens or keep their obstructionism up. The further they continue their current path, the bigger their hole gets.

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Response to John2 (Reply #9)

Sun Jan 13, 2013, 01:01 AM

12. Most of the libertarian tea party want the government out of their way of profits and power.

If millions die, or chaos erupts, they will rejoice as they consider those people 'parasites.' That's the philosophy of Ryan, Paul and the rest of them. The government through taxation has always leveled the playing field to suppress great wealth and prevent a new aristocracy. They are for it, as they are being paid by extremely rich men like the Koch brothers. They will lose nothing by doing this, but a higher place at their masters' table. Not everyone in this country will be hurt by default, no more than the rich died in the last great economic crash, the Great Depression. Many made huge fortunes off of that. They are eager to do it again. Democrats see us all as one people, these people do not.

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Response to JaneyVee (Original post)

Sat Jan 12, 2013, 04:15 PM

10. So do I, I'm sick of these right wing terrorists

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Response to JaneyVee (Original post)

Sun Jan 13, 2013, 12:15 AM

11. Whatever.

The WH has telegraphed it'll roll over on the debt. The GOP will get 98% of whatever it wants. We've seen this movie before.

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Response to JaneyVee (Original post)

Sun Jan 13, 2013, 12:53 PM

13. be reasonable

There is no need for more than a 5 round magazine for self defense. Ban any magazine above 5 rounds.

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