Nancy Pelosi: I support “McConnell Rule”
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tweeted by, Nancy Pelosi @NancyPelosi
I support “McConnell Rule” as part of a fiscal cliff agreement because we shouldn’t play games with the debt ceiling. http://1.usa.gov/UnRoyJ
Secretary Geithner describes McConnell Rule:
“We made a very sensible suggestion, and let me describe what that is. What we propose to them is they extend what’s called the McConnell provision. This was a solution Senator McConnell offered last summer, which was enacted -- summer of 2011 -- which was enacted into law, supported by Republicans. And the way that works is the President would have the obligation periodically of requesting an increase in the debt limit, and then Congress would have the chance, then, to express its views on the merits of that proposal by disapproving that. And then the President would have to decide, if a bill came to his desk, about whether to veto that or sign it. Of course, he’d veto it in that context. And the virtue of that mechanism proposed by Senator McConnell, a man of impeccable conservative credentials, is to make sure that the country is not left at risk of periodic threats of default. It’s a very good idea. It was a Republican idea. And we’re suggesting they extend it.”
read more: http://www.treasury.gov/connect/blog/Pages/mcconnell-provision.aspx
. . . well played.
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