Wednesday, January 02, 2013

Obozo to UNILATERALLY Raise Debt Ceiling

Didn't take long for this little bomb to fall:

Speaking Jan. 1 at the White House at 11:20 p.m., less than an hour after the House voted 257 to 167 to approve new tax hikes, President Barack Obama announced that he will assert the authority to raise the debt ceiling for spending approved by Congress....

...Obama framed his assumption of the authority to borrow funds, regardless of a statutory debt ceiling, in the context of the upcoming fight to raise it—a fight Sen. Lindsey O. Graham (R.-S.C.) called “Round 2” becuase the senator said Republicans had been beaten in the negotiations to avoid the “fiscal cliff” or “Round 1.”

The president was direct. Either Congress raises the debt ceiling or he will go ahead and borrow the money to pay the bills on his own in order to avoid damage to the U.S. and world economies.

Obviously, the GOP "leadership" thought of this when they caved in.


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