Pelosi 'Clearly' Backs 14th Amendment Option In Debt Standoff, Congressman Reports

[sasha031]

WASHINGTON -- House Minority Leader Nancy Pelosi (D-Calif.) may not be pushing the issue publicly, but in private she "clearly" supports President Barack Obama using the Constitution to raise the debt ceiling as a last resort, according to one Democratic lawmaker."Nancy clearly wants it," said the lawmaker, who requested anonymity. "Publicly? No. Privately? She thinks the president should do it. Period.

Several top Democrats have endorsed the idea in recent days as an eleventh hour solution: House Minority Whip Steny Hoyer (D-Md.) backed the option on Wednesday. House Democratic Caucus chairman John Larson (D-Conn.) and Assistant Minority Leader James Clyburn (D-S.C.) emerged from a Monday Caucus meeting announcing their support for the idea as well.But Pelosi, the highest-ranking House Democrat, has been mum. One possible reason is that she has to preserve the image that Congress will reach a deal before the situation even gets to that point.The provision at the heart of the constitutional debate, Section 4 of the 14th Amendment, states: “The validity of the public debt of the United States, authorized by law, including debts incurred for payments of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.” Essentially, Democrats are arguing that since the "public debt" cannot be questioned, then the debt ceiling itself is unconstitutional.

A Pelosi aide said he hasn't heard the Minority Leader endorse the constitutional option to any lawmakers. "But who knows," said the aide. "Our official line is her energy is focused on getting a balanced deal."But that "deal" continues to be nonexistent. Pelosi and Senate Majority Leader Harry Reid (D-Nev.) met with Obama for nearly two hours on Saturday afternoon, shortly after the House voted down Reid's debt proposal. Reid took to the Senate floor afterward to knock Republicans for refusing to negotiate and said "the process has not been moved forward during this day."
http://www.huffingtonpost.com/2011/07/30/congressman-pelosi-clearly-backs-14th-amendment-in-debt-standoff_n_914137.html?ncid=edlinkusaolp00000003

[DCBob]

1. It is increasingly looking like the only option left.

I think the WH has been considering it for quite some time but were hopeful a deal could be worked out.

[Waiting For Everyman]

2. It has to be seen as a last resort

after there's no other way left to prevent a train wreck. Otherwise it would look like a "gimmick" to get his way, no different than the TPers are doing.

It's a "wait till you see the whites of their eyes" move. I have a hunch he'll do it, but it would be influencing events if he let that be known ahead of time.

Even if he doesn't, Reuters reported that he has a "pocket" agreement with the rating agencies not to downgrade us - at least for a while.

[jwirr]

3. Yes, I even expect for him to call for a vote on a clean bill just to

show that he tried every other alternative. Then if they try to impeach him or take him to court he has good reasons for doing it through the 14th. Plus by this time it should be very clear to the American public and the world that the rethugs were going to let default happen.

President Obama is one smart cookie.

[Tx4obama]

4. K&R n/t