Treasury wants Congress to heed McConnell rules on debt limit

[TomCADem]

Source: Reuters

WASHINGTON (Reuters) - The Treasury said on Wednesday it wants Congress to adopt rules that would allow President Barack Obama to veto any denial of his request to increase the country's debt ceiling.

Under the provision, first proposed by Republican Senator Mitch McConnell during last year's debt limit negotiations, Congress would have 15 days to deny the president's request for raising the statutory limit.

Even if both chambers disapprove of the measure, the president can veto their resolution of disapproval, allowing the debt limit to be increased.


Read more: http://news.yahoo.com/treasury-wants-congress-heed-mcconnell-rules-debt-limit-160704159.html

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ROFL! Republicans are angrily denouncing an approach that was originally developed by Mitch McConnell due to fears that the Tea Party crazies were trying to cause the U.S. to default on purpose. Now, Nancy Pelosi is supporting it, and McConnell is attacking the President for suggesting it.

[freshwest]

1. Love it! Thanks a million for posting this.

[Cha]

2. That caption was a riddle.. at first. Couldn't get why the Treasury

would want anything McConnell suggested.

What a lovely idea.. how do we get it done?

Thanks Tom

[John2]

3. The Republicans

are talking about President Obama wasn't King or Emperor, lets turn the debate around. President Obama was elected Nationally, so he is not King or Emperor. It is a small group of Republicans like McConnell and Boner acting like Tyrants. Maybe we should change the law, when they want to put the country in default, then it should be bipartisan, requiring a two thirds vote, just like they did in the Senate for the Disability ACT. That would protect this country from being taken over by extremists. So if the Republicans want to debate it, we can do that too.

[groundloop]

4. This needs to always be referred to as the "McConnell Rule"

Then, when people hear "President Obama supports the McConnell Rule".... they get it. That will really undermine the r/w talking points about the President wanting to dictate to Congress.

[lastlib]

5. Good idea--

Turtle said it, Turtle owns it!

[ROBROX]

6. THE GOP WILL CHOKE

when they realize this was their idea. The old white men's club will be in a state of SHOCK.

[democrattotheend]

7. Did the president reject this udea in 2011?

Or did Tea Party Republicans kill it?

I vaguely remember reading that President Obama did not want to have to raise the debt limit unilaterally right before the election, as this was designed to force him to do. But now that he has been re-elected it seems like a better alternative than allowing the GOP to extort him every time it needs to be raised. Although I am wary of future presidents having this unilateral power.