hypocritexposer
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Reid to Obama: OK to skip Congress on debt ceiling
By MANU RAJU and JOHN BRESNAHAN | 1/11/13 2:47 PM EST
Senate Majority Leader Harry Reid and other top Democrats are putting new pressure on the White House to circumvent Congress to boost the nation’s debt ceiling if no bipartisan agreement can be reached.
In a strongly worded letter to President Barack Obama obtained by POLITICO, Reid and his leadership team argue that failing to raise the $16.4 trillion debt ceiling would threaten the full faith and credit of the United States. Reid and Sens. Dick Durbin, Chuck Schumer and Patty Murray asserted that Obama “must make clear that you will never allow our nation’s economy and reputation to be held hostage.”
Read more: http://www.politico.com/story/2013/01/reid-to-obama-ok-to-skip-congress-on-debt-ceiling-86071.html#ixzz2HhsWN3mk
Three false arguments, pushed hard by the Obama administration and accepted on faith by the media and much of the political establishment, must be laid to rest if the American people are to understand the issues at stake in the federal "debt ceiling" debate. The first is that Congress's failure to raise the debt ceiling—the amount of money the federal government is authorized to borrow at any given time—will cause a default on the national debt. The second is that federal entitlement programs are constitutionally protected from spending cuts. The third is that the president can raise the debt ceiling on his own authority.
http://online.wsj.com/article/SB10001424127887324081704578232080227662110.html#articleTabs%3Darticle