That Aug. 2 Deadline? It May Be Impossible, Veteran Lawmakers Say

[alp227]

Source: The New York Times

WASHINGTON — Here is advice from veterans of past budget battles in Congress that went to the brink: This time, be afraid. Be very afraid.

The seemingly unbridgeable impasse between the two parties as the deadline for raising the nation’s debt limit approaches has Tom Daschle losing sleep, as he never did when he was a Senate Democratic leader in the mid-1990s and Congressional Republicans forced government shutdowns rather than compromise on spending cuts.

“That was nothing compared to this. That was a shutdown of the government; this could be, really, a shutdown of the entire economy,” Mr. Daschle said. “You can’t be too hyperbolic about the ramifications of all this.”

Democrats and Republicans with legislative experience agree that even if both sides decided Saturday to raise the $14.3 trillion borrowing ceiling and to reduce future annual deficits, it would be extremely difficult for the compromise measure to wend its way through Congress before Tuesday’s deadline, given Congressional legislative procedures.

Read more: http://www.nytimes.com/2011/07/30/us/politics/30clock.html

[PoliticAverse]

1. They'll just pass a temporary extension. n/t

[caseymoz]

2. But the time to do that without doing any damage has passed.

Then they'll have this entire mess again in three, four months.

[No Elephants]

3. "“You can’t be too hyperbolic about the ramifications of all this.”

wanna bet?

[PSPS]

5. LOL.

[BeyondGeography]

4. Give them more notice next time

Yeah...:sarcasm:

[humblebum]

6. If Obama fails to apply the 14th Amendment, then he has abandoned

his reason for being in office.

[AndyTiedye]

7. The Supremes Would Overrule Him Within the Hour

[humblebum]

8. The Constitution is on his side. Section 4 of the 14th Amendment was specifically designed to

make sure Congress paid the bills. The Constitution needs to be the guiding force in times of uncertainty and crisis. Use it! Congress made the law after the Civil War. Article Two gives the President the vested power to execute the laws made by Congress.

[Demeter]

10. Let them

They've been itching for a fight.

[riderinthestorm]

17. No way. 1. They are clearly in favor of a unitary executive, they have a proven track record

2. They are clearly beholden to big corporate interests and the Chamber of Commerce. No way are they going to buck their corporate masters who will put the hammer down HARD to ensure this SCOTUS does nothing to fuck up the global economy (and the money train they are riding).

Who would bring suit? Who has standing?

It's not at all clear that ANYONE is going to challenge him on the 14th Amendment.

[Liberalynn]

9. If I were the president this is what I would do at this point.

Call an emergency joint session of both the House and Senate. Then lay the down to them and say I gave you a chance to work this out and you didn't. The time for bickering like drunken fools is over.

So now you have two choices. Sign a clean 1 page debt ceiling increase with no deals attached, or I invoke the 14th, your choice! Then he should cite the Truman precendence. He can add that they will discuss deficti reduction at a later date, since by their own fault they left themselves no time to do it now. There is no way they can get a comprehensible let alone fair deficit reduction bill, at this point.

I doubt the President will do it though but he should. I think the public would adore and admire him for taking the lead and doing what is right for the country. Bet his poll numbers wouldn't be low then. Enough of this shit all ready. All JMHO

[Demeter]

11. +15 Trillion BRAZILLIAN!

(Trouble is, that wouldn't be his first choice, or even last. He's got as big a block as Congress.)

[whosinpower]

12. He should call in all the media and record that very conversation - live

How's that for transparency for ya?

[BiggJawn]

13. Truman precedence?

The steel workers are threatening to strike the mills and the owners won't bargain?

[Liberalynn]

16. I was listening to the Ed Schultz program the other night and he had said

Truman used it while arguing that Obama could do. That is what I based my statement on. My bad. Should never trust the press I guess.

[BiggJawn]

18. Yeah, a LOT of people got that impression.

The first several hits concerning Truman and the 14th linked back to stories at right here at DU.I think I was a couple of Google pages in before I found info that the debt ceiling was actually LOWERED under Harry and he invoked the 14th because we were fighting with China and the USSR over in Korea and Harry thought if the steel workers struck the mills that it would hurt the "war" effort. so he nationalized the mills. The mills sued in the SCOTUS and they said "give 'em back, Harry..." Didn't have anything to do with an insane Congress threatening to force the country into insolvency.

[hughee99]

14. I call bullshit. The deal is done

it's shit, and likely short term so it can be revived again before the election, but both sides already know where this is going to end up, and have already figured out a deal that will pass. They just have to wait until the last second to do it so people won't find out what was in it until later. Then, when voters (on both sides) are pissed, their representatives will say, "Well, we had to do SOMETHING". If they go the 14th amendment route now, congress will lose the power to arm-twist with this as leverage, and neither side wants that.

[unkachuck]

15. "You can’t be too hyperbolic..."

....if we spent half as much time perfecting Socialism as we spend playing, patching and propping up capitalism, we'd be a prosperous, productive, equitable country today. Instead of spending trillions on corporate wars, phony deadlines and trick austerity wealth transfers from the poor to the rich, maybe we could spend our time and effort on our countrys' most true urgent needs....then maybe you could get some sleep....

....but destroying is what capitalism and its defenders do best....whether it's the destruction of Iraq, Afghanistan or the starvation of Grandma or Grandpa, behind every human crisis resides a corporate capitalist interest....

"That was nothing compared to this."....bah....good night Tom, you protesteth too much....