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Schumer confirms WH considering ignoring debt limit

hypocritexposer

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Schumer confirms White House considering ignoring debt limit
By: Conn Carroll | Senior Editorial Writer Follow Him @conncarroll | 07/01/11 2:42 PM

This morning we speculated that Treasury Secretary Tim Geithner was seriously considering just ignoring the statutory debt limit by claiming it was superseded by section Four of the 14th amendment. Sen. Chuck Schumer, D-N.Y., confirmed that that course of action has been considered by the White House. Talking Points Memo‘s Brian Beutler reports on a conference call with Schumer today:

I asked Schumer, a lawyer, whether, in his view, the administration had the power to continue issuing new debt even if Congress fails to raise the debt limit. He acknowledged that the question’s been discussed, but said the White House probably shouldn’t go there just yet.

[emphasis mine] Considering the ease with which Obama has violated bankruptcy law, refused to enforce voter fraud laws, and ignored the War Powers Act, what is stopping him from ignoring the debt ceiling.

Read more at the Washington Examiner: http://washingtonexaminer.com/blogs/beltway-confidential/2011/07/schumer-confirms-white-house-considering-ignoring-debt-limit#ixzz1Qxt8QwJm
 

Mike

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I hope he does. And when we tank because of it, there will never be another liberal in the Whitehouse, Senate, or House of Reps.
 

Steve

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Section 4. The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.

while taxcheat geither may be right in paying the debts... He and congress has no ability to incur further debt..

effectively by following the intent of the 14th our debt could be paid,.. but then again if the debt ceiling isn't raised, it could force future spending cuts.

which is what the republicans appear to be trying to do..
 

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