GOP Falsely Claims Obama Debt Limit Proposal Is Secret Plan To Spend Taxpayer Money [View all]
Senate Democrats stand ready to pass legislation permanently empowering the President to raise the debt ceiling.
The bill is based on an idea Senate Minority Leader Mitch McConnell (R-KY) first introduced last year to avoid a debt-ceiling-driven economic disaster, and now the White House wants it incorporated into an end-of-year plan to avoid automatic, across-the-board tax increases and spending cuts this January.
Republicans, who hope to use the debt ceiling once again as leverage to force Democrats to accept deep cuts to domestic social programs, are unsurprisingly opposed to the idea. And they’re using their opposition to mislead the public about what the debt ceiling is, and the implications of vesting the power to raise it within the Executive Branch.
“By demanding the power to raise the debt limit whenever he wants by as much as he wants, [President Obama] showed what he’s really after is assuming unprecedented power to spend taxpayer dollars without any limit,” McConnell argued on the Senate floor.
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more:
http://tpmdc.talkingpointsmemo.com/2012/12/debt-limit-obama-mcconnell.php?ref=fpa
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