.
Thanks again to George Bush #1 and #2 for destroying the Republican Party and the two party system.
10/15/13, "Congressman: 'Constitutional Crisis' if GOP Caves on Debt Ceiling," Breitbart, Matthew Boyle
"GOP lawmaker says that if his party's leadership gives in to
Obama, they will have forever altered the checks and balances of the
U.S. federal government."
"On the House floor on Monday, Rep. Tom McClintock (R-CA) argued that
President Barack Obama’s activities during the government shutdown over
Obamacare are a sign to him that Obama would act nefariously to attack
the full faith and credit of the United States of America by taking the
country into a default in a debt ceiling crisis if the president does
not get everything he wants in negotiations.
“Given the ruthless and vindictive way the shutdown has been handled,
I now believe that this president would willfully act to destroy the
full faith and credit of the United States unless the Congress
acquiesces to all of his demands, at least as long as he sees political
advantage in doing so,” McClintock said in a speech on the floor of the
House of Representatives. “If the Republicans acquiesce, immediate
crisis will quickly vanish, credit markets will calm and public life
will return to other matters.
But a fundamental element of our
Constitution will have been destroyed. The power of the purse will have
shifted from the representatives of the people to the executive. The
executive bureaucracies will be freed to churn out ever more outlandish
regulations with no effective congressional review or check through the
purse.
.
A perilous era will have begun in which the president sets
spending levels and vetoes any bill falling short of his demands.
Whenever a deadline approaches, one house can simply refuse to negotiate
with the other until Congress is faced with the Hobson’s choice of a
shutdown or a default. The nation’s spending will again dangerously
accelerate.
The deficit will rapidly widen. And the economic prosperity
of the nation will continue to slowly bleed away.”
McClintock said that while the current impasse began “over a
collapsing health program,” Obamacare, “it’s now taken on the dimensions
of a constitutional crisis.”
“Yesterday in Washington, a group of America’s veterans rose up to
take a stand against these unconstitutional usurpations,” McClintock
added. “I believe the salvation of our nation now ultimately depends on
the American people joining them.”
McClintock argued that the debt ceiling “exists” for a “simple
reason.” He said it is there “to ensure that public debt isn’t
recklessly piled up without Congress periodically acknowledging it and
addressing the spending patterns that are causing it,”
“If the debt limit increase is supposed to be automatic as the
president suggests, then there’s really no purpose to it,” he said.
McClintock explained that unlike any of Obama’s predecessors, if
Congress does not “unconditionally” raise the debt ceiling, the United
States will default on its debt obligations. But McClintock pointed to
how the Government Accountability Office (GAO) has “consistently held”
that the Secretary of the Treasury, who currently is Jack Lew, a
position that reports to the president, has “’the authority to choose
the order in which to pay obligations of the United States’ and to
protect the nation’s credit. Such authority is inherent in the 1789 act
that established the Treasury Department and entrusted it with ‘the
management of the revenue’ and ‘the support of the public credit.’”
McClintock said that given that the nation’s revenues are “more than
10 times our debt payments,” for the Treasury Department and Obama White
House to pay “the debt first to prevent a sovereign default is well
within the financial ability of the federal government.”
“Indeed, it is a fiscal imperative,” he said, before noting
House-passed legislation that would require the payment of the national
debt in the case of the lack of a deal over raising the debt ceiling.
That measure, McClintock said, “languishes” in the Democratic-controlled
Senate under the threat of a veto from President Obama.
“Protecting the sovereign credit by prioritizing payments would mean
delaying paying other bills,” McClintock said. “That is also untenable,
unthinkable and something much-to-be-avoided. But it would not imperil
the nation’s sovereign credit. Only the president can do that.”
McClintock noted how House GOP leadership offered to President Obama a
no-strings-attached “clean” 60-day debt ceiling increase, and how Obama
refused the offer. He also noted how Senate Republicans offered a
six-month clean debt ceiling increase, and how Senate Majority Leader
Harry Reid refused that.
“What the president threatens to do would be catastrophic and
unprecedented,” McClintock said.
“The full faith and credit of the
United States is what gives markets the confidence to loan money to the
federal government. Even the threat of default, exactly the kind the
president is now making, could have dire consequences to a nation that
now owes more than its entire economy produces in a year.”
McClintock said that, moving forward, establishment Republicans need to fix their “miscalculations on two key assumptions.”
“First, that the Democrats would negotiate the issues that divide our
country; they have not,” McClintock said of such GOP establishment’s
false assumptions in these negotiations. “Second, the Democrats would
seek to minimize the suffering caused by the impasse; they have not.”
WATCH THE FULL VIDEO OF REP. TOM McCLINTOCK'S SPEECH. (at link)." via Mark Levin show
.
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