Barack Obama went to Congress with hat in hand and asked for another trillion dollars of debt. He wants the debt ceiling raised another trillion dollars so he can borrow and spend more. This will likely be done because Congress can do nothing to stop it.
Under the deal struck last year, Obama can ask for the increase and unless Congress votes not to allow it then it will happen. Since the Democrats control the Senate they will likely not vote to stop it and if they do (it is an election year) Obama can veto them and there are not enough votes to override the veto.
Obama and his policies have given us the worst economic recovery since the Great Depression and he is on track to borrow more than all the presidents from Washington to Clinton combined!
According to the Washington Post, Obama formally notified Congress on 12 January that he will raise the debt ceiling by 1.2 trillion dollars. The Congress has 15 days to say no or it will automatically happen. The House does not return until the 17th and the Senate the 23rd. So Congress will have very few days to actually work on this. This also brings up an off topic question.
Obama’s justice Department sided with him on his recess appointments saying that Obama is unable to communicate with the Senate because it is not in session. He, according to Justice, was able to make recess appointments because he can’t communicate with the Senate because they are not there. How is it then, he is able to communicate with Congress regarding his desire to raise the debt ceiling? How can he formally notify them of his desire to raise the debt and then claim he can’t formally notify them of nominations because they are not there?
OK, back on target. I think Obama will raise the ceiling because the cowards in Congress set it up so they do not have to deal with it. They can claim they never raised the ceiling even if they make a show of trying to stop it. They gave up their power on this issue just as they have done with many other powers they have.
I think that Obama is going to have a hard time convincing people that we need to keep borrowing to get out of debt. Borrowing money to put it into the economy does not stimulate anything and makes as much sense as taking water from the deep end of a pool and putting it in the shallow end and claiming that the shallow end is getting deeper while the deep end is getting shallower.
It simply does not work.
But it is an election year and Obama needs more seed money to pay off his base.
We need a do over on government. We need to get rid of them all and start over with the fresh minds of people who have not been corrupted by their position in office.
November is our revolution.
Never surrender, never submit.