In this, the most recent edition of "The Gasbag Chronicles," we have now the esteemed Steny Hoyer coming out and making the claim, just this past Tuesday, that the debt limit is actually something that is "not real" and as such, should not be considered as part of any negotiations to avert the 'fiscal cliff.' Using the bizarre logic that only a Democrat could dream up, he said "First of all, I again would urge the Speaker not to use the debt limit to the detriment of the credit-worthiness of the United States of America as a leverage point." Hoyer made his idiotic proclamation during his weekly pen and pad briefing with reporters on Capitol Hill. He went on to say, "It is not a leverage point." Adding, "It is not real." Finally claiming, "It is a phony political debate. We have incurred debt and the United States will meet its obligations, pure and simple." But what this pompous old fart neglects to mention is how that debt was incurred in the first place. On the other side of the argument, we have the Republicans who have suggested using the debt limit as a tool to lower spending in negotiations to avoid automatic across the board tax increases and spending cuts at the end of the year -- the so-called "fiscal cliff."
"Look, the only way we ever cut spending around here is by using the debate over the debt limit to do it. Now the president wants to remove that spur to cut altogether," Mitch McConnell said last week. John Boehner has insisted that any increase in the debt limit must be accompanied by equal cuts in spending. But Hoyer said he had no problem handing over to Barry the authority the Constitution gives to Congress to borrow money, because the debt limit is "not real." Is that not NUTS? This doddering old dolt actually said, "If this were real I would agree that the Congress ought not to give up its authority to do that." Going on to say, "But Congress does ultimately have the authority to do it, obviously; demonstrably it has that authority, but no one believes -- not Mitch McConnell, not John Boehner, not Eric Cantor, ‘cause I’ve talked to all of them -- certainly none of us believe that America’s defaulting on our debt makes sense." Both Hoyer and Barry are advocating for the so-called "McConnell Rule" to cede Congress’s authority to the executive branch to raise the debt ceiling. Barry’s initial offer on the fiscal cliff included permanent and unilateral authority to raise the debt limit. Allowing that would be nothing short of insane!
It was during last summer’s debt limit negotiations that McConnell proposed allowing Barry "Almighty" to raise the debt limit unless two-thirds of Congress denied the request within 15 days. The president, however, could then veto Congress and still allow the debt limit to be raised. "I think Mitch McConnell made a useful suggestion -- he’s now backed off of it, as I understand," Hoyer said. The current debt limit stands at a staggering $16.394 Trillion, which the Treasury Department expects to reach before the end of this year. As of the close of business Friday, the public debt reached $16.365 Trillion, leaving less than $30 Billion before the ceiling is met. The Constitution, that little document that Democrats would rather didn't exist, expressly gives the power to borrow money only to Congress – not the president. Article 1, Section 8, Clause 2 says: "Congress shall have power ... To borrow money on the credit of the United States." So anyway, if the debt limit isn't real, then what's all the hub-bub about? What the hell, let's just keep on printing money until the presses melt. We might as well party while we can, because by the time Hoyer and his friends are done, I figure a loaf of bread will cost about 50 or 60 bucks.
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