Absolutely untenable: House Debt-Ceiling Plan Would Ban ‘Emergency’ Measures

[cali]

The House Republican plan to extend the debt ceiling for six weeks would permanently ban the Treasury Department from using extraordinary measures to avoid default, congressional aides said.

The provision would ban practices, used by Democratic and Republican administrations for decades, which have effectively allowed the Treasury to limit investments in pensions and other funds when the government bumps up against its borrowing limit. These steps have extended the time that Treasury can continue borrowing and paying the nation’s bills while Congress debates terms for raising the debt ceiling.

The White House hasn’t said it whether it would accept the condition as part of any deal, though it effectively would be surrendering tools it uses to avoid falling behind on federal payments. The Democratic-led Senate could reject the provision.

Even though the steps are called “emergency” measures, they have become employed so routinely during recent fiscal standoffs that Congress often waits for the emergency steps to be exhausted before beginning negotiations on raising the borrowing limit.

<snip>

http://stream.wsj.com/story/latest-headlines/SS-2-63399/SS-2-351576/

[randome]

1. So it wouldn't be 'clean' then, would it?

"NEXT!"

[hr][font color="blue"][center]Treat your body like a machine. Your mind like a castle.[/center][/font][hr]

[Puzzledtraveller]

5. And the pot thickens...

Soup!!!!!

[jsr]

2. Okay, NO. Fuck 'em.

[djean111]

3. They are going after everything, aren't they.

Not just the ACA - either they are thrashing and flailing around because Obama did not cave as expected, or they see a chance to go after social security, veteran's payments, pensions, etc.

[spanone]

4. this would stand until a reTHUG President needs it, of course.

[Warren Stupidity]

6. They are just total fucking assholes.

[cali]

8. stupid total fucking assholes.

don't forget the stupid.

[Yo_Mama_Been_Loggin]

7. No Deal Boner boy

[pinboy3niner]

9. We'll see what happens after House GOP leaders meet with the President today

President Obama likely will tell them again that he will only sign a clean debt ceiling bill with no conditions on negotiations AND that there will be no negotiations until the government has re-opened.

Harry Reid said as much today. He said he won't comment on Boehner's short-term debt limit extension proposal until he sees what the House sends over, because in the House things seem to "change from hour to hour." But he also insisted that negotiations won't happen until the governmnet shutdown is ended.