Changing Rules on Debt Ceiling Is a Genius Idea
Matthew Yglesias: Last year's showdown set dangerous precedent
By John Johnson, Newser Staff
Posted Nov 30, 2012 12:44 PM CST
Treasury Secretary Timothy Geithner testifies on Capitol Hill in July.   (AP Photo/J. Scott Applewhite)

(Newser) One of the proposals being floated by the White House in the fiscal cliff talks is to change the rules on the federal debt ceiling. The White House, any White House, would no longer need congressional approval to go above the ceiling. "It's a great idea," writes Matthew Yglesias at Slate. The rule has traditionally resulted in harmless political grandstanding, but last year's dangerous showdown changed things. "Some combination of malign intent on the part of John Boehner and strategic miscalculation on the part of Barack Obama weaponized it," and now it's too late to go back.

Geithner's plan "is to turn the debt ceiling back into a grandstanding game by flipping the order of operations." Instead of approving an increase in the first place, Congress could only try to block one by passing a resolution against it. The president, however, would have veto power. Voilà: "Congress gets its chance at symbolic opposition, and there's no risk to the economy." Read the full post here.

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Showing 3 of 124 comments
BinThereDunThat
Dec 2, 2012 5:02 PM CST
I say go for it. It has to be raised no matter who's in power. It's just one less thing Repubs will be able to use in hostage negotiations.
ProbolyKnot
Dec 1, 2012 6:18 AM CST
I cant believe the exaggerated drama of the people who hate the President. Boehner damaged the US by using the debt ceiling as a political tool. It was never intended to be used that way. The Obama administration is saying it should stop being used that way. This changes nothing in the way Congress writes spending bills and the Executive branch implements them... it only stops the Speaker from being able to lock up the process of all legislation by refusing to accept something the republicans have accepted hundreds of times while they were in the majority.
reallybig
Nov 30, 2012 11:03 PM CST
YEA, Geithner is a genius, he help Obama add 6 trillion dollars to the National Debt in only 4 years, and will add another 1.4 trillion dollars in debt next year. --- Obama like the rest of his kind, never worked a real job until he was 32 years old, and that was paid for by the government. --- A monkey could do the job Obama has done so far. --- The only thing the monkey can't do, is give those long pompous rhetorical speeches that Obama gives. --------- REALLY