Schumer to introduce debt-limit legislation | TigerDroppings.com
Posted by
Message
Hoyas
Georgetown Fan
Member since Sep 2013
2478 posts

Schumer to introduce debt-limit legislation

LINK

quote:

Sen. Chuck Schumer (D-N.Y.) will propose legislation that would make permanent a plan to take the decision to raise the country’s debt limit out of Congress’s hands. By making the so-called “McConnell rule” permanent, the president would have ultimate authority to raise the debt limit and prevent the United States from defaulting. Congress would still have power to oppose raising the debt ceiling, but would not have to vote to increase the borrowing limit.

“If we were to do that, the chances of going up to the brink again, the chances of this kind of debacle, will decrease,” Schumer said on NBC’s “Meet the Press” on Sunday. Late on Wednesday, the House and Senate passed legislation to raise the $16.7 trillion debt limit and reopen the federal government. Technically, though, the bill actually gives power to the president to raise the debt ceiling, and allows Congress to override that decision.

Because the vote to oppose the increase would need to override a presidential veto, however, the odds that Congress could prevent the debt ceiling from being raised are incredibly slim. The scheme was the brainchild of Senate Minority Leader Mitch McConnell (R-Ky.) and was first used to raise the debt ceiling in 2011, the last time the issue became a point of contention in Congress.




constant cough
LSU Fan
Lafayette
Member since Jun 2007
40807 posts

re: Schumer to introduce debt-limit legislation
Obama wants to usurp the power of congress so he can dictate how much debt we incur.


Jbird
Iowa Fan
In Odramaville with EthanL
Member since Oct 2012
18073 posts

re: Schumer to introduce debt-limit legislation


Replies (0)
Replies (0)
Lsut81
USA Fan
Member since Jun 2005
65712 posts

re: Schumer to introduce debt-limit legislation
While I emphatically oppose this, I don't think it really matters... When has the debt limit not been raised already

The repubs just cave over and over again, so might as well help them save face.


Replies (0)
Replies (0)
Bard
LA-Monroe Fan
BR
Member since Oct 2008
17811 posts

re: Schumer to introduce debt-limit legislation
quote:

Sen. Chuck Schumer (D-N.Y.) will propose legislation that would make permanent a plan to take the decision to raise the country’s debt limit out of Congress’s hands. By making the so-called “McConnell rule” permanent, the president would have ultimate authority to raise the debt limit and prevent the United States from defaulting. Congress would still have power to oppose raising the debt ceiling, but would not have to vote to increase the borrowing limit.


Are you.
fricking.
Kidding me!?!


x 1,000

What's NEEDED is a Balanced Budget Amendment. What we get is this kind of bull shite.
This post was edited on 10/21 at 9:06 am


Replies (0)
Replies (0)
Jake88
George Mason Fan
LSU/Saints Fan
Member since Apr 2005
11040 posts

re: Schumer to introduce debt-limit legislation
We weren't at any "brink." He's manufacturing drama to get support for allowing a child to borrow money unchecked.


Replies (0)
Replies (0)
jcole4lsu
Virginia Fan
The Kwisatz Haderach
Member since Nov 2007
27503 posts

re: Schumer to introduce debt-limit legislation
Odds Schumer would be introducing this if the president was Romney?
I love when both parties are so short sighted they cant think of the ramifications of their actions when the other party is in power.


Replies (0)
Replies (0)
TrueTiger
LSU Fan
Chicken's most valuable
Member since Sep 2004
12911 posts

re: Schumer to introduce debt-limit legislation
why not just abolish Congress?

That would not only save a lot of money but the decision making would be faster and more efficient.



elprez00
New Orleans Saints Fan
Hammond, LA
Member since Sep 2011
14495 posts

re: Schumer to introduce debt-limit legislation
quote:

By making the so-called “McConnell rule” permanent, the president would have ultimate authority to raise the debt limit and prevent the United States from defaulting. Congress would still have power to oppose raising the debt ceiling, but would not have to vote to increase the borrowing limit.


Remember the scene at the beginning of Star Wars, when the Moffs are all sitting around talking about how bad arse the Death Star is, and one of them starts bitching about the Imperial Senate objecting? Tarkin cooly says the Imperial Senate wont be a problem any longer, because the Emperor had it dissolved?



Replies (0)
Replies (0)
RCDfan1950
LSU Fan
United States
Member since Feb 2007
12204 posts

re: Schumer to introduce debt-limit legislation
quote:

Sen. Chuck Schumer (D-N.Y.) will propose legislation that would make permanent a plan to take the decision to raise the country’s debt limit out of Congress’s hands. By making the so-called “McConnell rule” permanent, the president would have ultimate authority to raise the debt limit and prevent the United States from defaulting. Congress would still have power to oppose raising the debt ceiling, but would not have to vote to increase the borrowing limit. “If we were to do that, the chances of going up to the brink again, the chances of this kind of debacle, will decrease,” Schumer said on NBC’s “Meet the Press” on Sunday. Late on Wednesday, the House and Senate passed legislation to raise the $16.7 trillion debt limit and reopen the federal government. Technically, though, the bill actually gives power to the president to raise the debt ceiling, and allows Congress to override that decision. Because the vote to oppose the increase would need to override a presidential veto, however, the odds that Congress could prevent the debt ceiling from being raised are incredibly slim. The scheme was the brainchild of Senate Minority Leader Mitch McConnell (R-Ky.) and was first used to raise the debt ceiling in 2011, the last time the issue became a point of contention in Congress.


There ya go. Another Obama move to "fundamentally change the nation"....by fundamentally nullifying the Constitution which gives CONGRESS, the power of the purse. That's exactly what he meant when he was leaving that presser, and when asked if he would face another shutdown in 90 days...he stopped, turned and said explicitly..."NO"!

The great uniter! Strap in!


Replies (0)
Replies (0)
upgrayedd
Louisiana Tech Fan
Further on up the road
Member since Mar 2013
12946 posts

re: Schumer to introduce debt-limit legislation
Chuck Schumer is the typical politician that everyone has in mind when they say "we need to clean house and install term limits". Every time gas prices went above $2.50/gallon he was out there beating the big bad oil company drum. He's been strangely quiet about it over the last 4 1/2 years.


Replies (0)
Replies (0)
Jake88
George Mason Fan
LSU/Saints Fan
Member since Apr 2005
11040 posts

re: Schumer to introduce debt-limit legislation
I don't want anything that the govt does regarding lawmaking made quicker or more efficient. I'd favor expanding congress if it promised to gum up the works.


TrueTiger
LSU Fan
Chicken's most valuable
Member since Sep 2004
12911 posts

re: Schumer to introduce debt-limit legislation
that was meant with heavy sarc.



CITWTT
LSU Fan
baton rouge
Member since Sep 2005
31765 posts

re: Schumer to introduce debt-limit legislation
frick that shite. If they have one real job at all it is to take care of the finances of the country and do so in a timely manner not as it is being done now. Anything that is proposed by or gets the approval of Shumer should be considered toxic waste from the get go. Every year when they arrive in January they have nine months to take care of business regarding a budget and that should be their main focus until it is done. No vacation time should be allotted to them without reaching resolution of this business.


Replies (0)
Replies (0)
SpidermanTUba
LSU Fan
NAWLINS
Member since May 2004
32277 posts

re: Schumer to introduce debt-limit legislation
quote:

Obama wants to usurp the power of congress so he can dictate how much debt we incur.


The Treasury can't spend money without an appropriation from Congress. We would incur only the debt necessary to meet the demands of spending as laid out by Congress. That isn't "usurping" the power of Congress.

Congress resolving not to pass contradictory laws - one which says "Spend X dollars" and one which says "But you can't have the money needed to spend it" - is a GOOD thing.


Shankopotomus
New Orleans Pelicans Fan
Brian Roberts Fan
Member since Feb 2009
18321 posts

re: Schumer to introduce debt-limit legislation
could taking a spending/borrowing bill out of Congress and into the Executive Branch even pass constitutional muster?


Jake88
George Mason Fan
LSU/Saints Fan
Member since Apr 2005
11040 posts

re: Schumer to introduce debt-limit legislation
I know. I've read enough of your posts to realize that. I just used it as another chance to oppose the "Why can't they just work together?" (to screw us) crowd.


Replies (0)
Replies (0)
TrueTiger
LSU Fan
Chicken's most valuable
Member since Sep 2004
12911 posts

re: Schumer to introduce debt-limit legislation
quote:

could taking a spending/borrowing bill out of Congress and into the Executive Branch even pass constitutional muster?



After what Roberts pulled in the Obamacare decision,

Do you have to ask?


Replies (0)
Replies (0)
SpidermanTUba
LSU Fan
NAWLINS
Member since May 2004
32277 posts

re: Schumer to introduce debt-limit legislation
quote:

could taking a spending/borrowing bill out of Congress and into the Executive Branch even pass constitutional muster?



Its not a spending bill.


CITWTT
LSU Fan
baton rouge
Member since Sep 2005
31765 posts

re: Schumer to introduce debt-limit legislation
Reading comprehension failure much? The debt would be set by an unknown group of people meeting in a smoke filled room idiot. The bottom of the hole would never be reached as the excavation would continue unchecked.


Page 1 of 3

Back to top

Follow TigerDroppings for LSU Football News
Follow us on Twitter, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookTwitterInstagram