24/7 Newsfeed

Put Reason 24/7 on Your Site

RSS

Follow Reason 24/7 on Twitter and via RSS

Democrats Want Obama To Unilaterally Raise Debt Ceiling

Top Democratic Senators on Friday urged President Barack Obama to be ready to raise the debt ceiling without congressional approval in order to avert a damaging debt default.

Senate Majority Leader Harry Reid and his leadership team said Obama should use "any lawful steps" under his authority to "ensure that America does not break its promises and trigger a global economic crisis."

Democrats are anticipating another possible deadlock over the debt limit in Congress and hope a unilateral move, or the threat of one, by Obama would avoid a replay of the 2011 fight that pushed the country to the brink of default.

Some analysts and Democrats believe the 14th Amendment of the Constitution gives the president the authority to raise the $16.4 trillion debt ceiling unilaterally.

Source: Reuters. Read full article. (link)

Editor's Note: We invite comments and request that they be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of Reason.com or Reason Foundation. We reserve the right to delete any comment for any reason at any time. Report abuses.

advertisement