Debt Ceiling

CGP Grey argues that this debt ceiling stuff is all on Congress, and that if there’s any irresponsible behavior here, it’s by the Congress:

At this point I’m inclined to agree with him. Would the President even be authorized to refuse to spend money the Congress budgeted for a specific purpose? Absent a veto of the budget I mean?

By the way no matter what I agree with him: never watch TV news, ever.

  • http://madisonforum.net/ Sandi

    I agree with all but one part. The issue disagree with is: “The debt limit is about paying bills already incurred.”

    No matter how big the national debt is, until the debt limit is reached, the “bills already incurred” are WITHIN the debt limit.

    It is future spending that can push the national debt PAST the debt limit. And that is where congress has no control what-so-ever.

  • http://www.deanesmay.com Dean Esmay

    How can Congress, which has the power of the purse Constitutionally, and which sets the budget for everything, NOT be responsible for future spending? It is the only part of the government that is technically responsible for any spending. The President can only make requests and/or veto the entire budget. He doesn’t even have a line-item veto. If they vote for the money, it’s on them.

  • http://madisonforum.net/ Sandi

    Exactly. Congress, and only Congress IS responsible for all spending, past, current and future. I didn’t say any different.

    My point is that Congress is no more responsible that teenagers with charge cards. This video says that teenagers with charge cards should have the ability to raise their own dept limit so they can pay the debts they already ran up.

  • BobCutlass

    The President should lead his party and the country, and propose a budget. How many votes did Obama’s last budget get from the Democratic Senate, Dean?

    I also hereby state the following:

    The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.

    Am I a liar Dean?

    *snicker*