Jul 28, 2011 5:59am

Last-Ditch 14th Amendment Plan Gains Momentum As Debt Clock Ticks

ABC News' Amy Bingham reports:

As fears intensify that Congress will not pass a debt limit increase in time to avoid default, some Democrats are pulling out their pocket Constitutions to find a back-up plan.

Assistant Minority Leader Rep. James Clyburn, R-S.C., said today that if a long-term deal is not struck by Aug. 2, President Obama should sign an executive order raising the debt ceiling without Congressional approval. He said this action would be justified because of a section in the 14th Amendment that states that “the validity of the public debt … shall not be questioned.”

"I am convinced that whatever discussions about the legality of that can continue," Clyburn said. "But I believe that something like this will bring calm to the American people, and will bring needed stability to our financial markets."

The argument is that a default would put the “validity of the public debt” in jeopardy, thus violating the 14th Amendment. And since the president took a vow to “preserve, protect and defend the Constitution” it would then be his responsibility to ensure that the country does not default.

But constitutional scholars are divided over whether the amendment would, in fact, justify the president to unilaterally take action on the debt ceiling.

Laurence Tribe, a constitutional scholar at Harvard University and one of President Obama’s former professors, told ABC News earlier this month that the 14th Amendment must be upheld by Congress, not by the president.

Read more about the 14th Amendment debate here.

“It’s a tempting [argument], but I think it’s fundamentally fallacious because it assumes that the executive branch is the branch of government that has the ability to enforce the 14th Amendment. Section 5 makes clear it is Congress that has that power,” Tribe said.

Obama seems to agree. At his University of Maryland town hall July 22, the president said he does not believe he could use the 14th Amendment to raise the debt ceiling, even if there is no agreement by Aug. 3.

"I have talked to my lawyers," he said. "They are not persuaded that that is a winning argument."

But both the president and the Treasury Department have stopped short of saying Obama will not invoke the 14th Amendment if worse comes to worst. The idea is tempting, at least, to the president.

“Believe me, the idea of doing things on my own is very tempting,” Obama said Monday at the annual meeting of the National Council of La Raza.

Treasury Secretary Timothy Geithner told ABC News' Christiane Amanpour on Sunday that it is “not a workable option to limit the damage to the American people that would come from Congress to avoid a default crisis."

If the president does decide to use the amendment, House Democratic Caucus Chairman John Larson said today that “his caucus is prepared to stand behind him.”

“We have to have a fail-safe mechanism," said Larson, D-Conn. "We believe that fail-safe mechanism is the 14th Amendment and the president of the United States."

Some argue that raising the debt ceiling without congressionally-approved deficit reductions attached would not go far enough to avoid financial calamity.

In his testimony before the House Financial Services Committee today, the president of the credit rating agency Standard & Poor, Deven Sharma, said, "The more important issue is the long-term growth rate of the debt.”

Tribe also argued that if Obama went it alone, “It’s anybody’s guess how much confidence creditors around the world would have that those debts would be repaid.”

“I think it is something that should be avoided at all costs,” Tribe said. “The idea of violating the Constitution without the guarantee that it would solve the economic crisis seems particularly unwise.”

The Associated Press contributed to this report.

User Comments

As an Obama supporter, I do not think this is a good way to solve the debt problem. It sounds like a “nuclear” option. If he uses it, the Republicans will demand his head with an impeachment proceedings. The debt is unquestionable, but how to pay for it is the issue that both parties are feuding. How we wish we had politicians who are not tied to the apron strings of special interest groups and corporate crooks, but can set aside party ideology and do what is in the interest of the country

Posted by: what667 | July 28, 2011, 6:32 am 6:32 am

James Clyburn is a Democrat, not a Republican. This report should read “James Clyburn, D-S.C.”

Posted by: Bryan Macfarlane | July 28, 2011, 6:33 am 6:33 am

I would Hope Obamma would not be as Stupid to try and use the 14th Amendment for his own Political disires. Section 5 Clearly States that Only Congress has the Powers to Uphold the 14th amendment. If Obamma does do this he Will and Should Rightfully be Impeached! For to Vagrantly Disregaurd Section 5 would be an act of Treason towards the United States and the act of a Man wanting to become a Dictator! History should remind all of us what happens when a Government Ignores it’s own Laws and even Rewrites them to Appease any single Leader. Hitler and his Disregaurd for the German Parliment Comes Vividly to my mind! If we give an Inch to allow this For ANY Reason we will be Signing the start our own Demise as a Republic and allowing ourselves to someday be Ruled by a Dictatorship! I, personally, have Never Liked or Trusted Obamma. If he invokes the 14th when he has No Legal Power to do so would Not help my Opinion of him what so ever! My Question is this… Will Obamma Show his Socialist Ways and Commit this Treason or will he Finally Show Me and MANY; MANY others that he actually is an American. (Even if he won’t Solute the Flag!)

Posted by: H P | July 28, 2011, 6:58 am 6:58 am

Maybe the overpaid jerks in the senate should just do their jobs instead!

Posted by: Paulie | July 28, 2011, 7:06 am 7:06 am

It’s his economy and his debt. Let him do as he wishes providing it is the fastest exit any one and done President has ever executed.

Posted by: Paul | July 28, 2011, 7:13 am 7:13 am

So let me get this straight: After holding up everything, after all their walkouts, after all this ‘drama’ in their ranks the Republicans are going to present a terrible bill to the Democrats and President and then say take it or leave it and if you don’t it’s all your fault this crisis has happened.
This has all been scripted so their tea party jihadists in Congress and out here will scream at the Democrats this exact point and their messaging ploy to the rest of the country will be “See, we are the rational ones, we have ‘compromised’ and we presented a bill that will pass (their tea party jihadists) and the Democrats are the ones who set us on this default.
Please, people. Don’t be fooled by this Republican smokes and mirrors campaign. They have been, and still are, holding this country hostage.

Posted by: prohb | July 28, 2011, 7:15 am 7:15 am

The King has avoided coming up with any solutions of his own, after having caused most of the problems, and now he wants to take the easy (and unlawful) way out. Hurry up and get here, 2012!!

Posted by: Really!! | July 28, 2011, 7:16 am 7:16 am

perfect for bohner and the 2012 gang..default avoided, and all fingers pointed at the prez for no cuts.
Repeal Dubya’s presidency

Posted by: grampasimpson | July 28, 2011, 7:17 am 7:17 am

All they can do is let it default and put a “kick me” sign on the TP’s backside.

Posted by: sameagain | July 28, 2011, 7:19 am 7:19 am

I the think both the U.S. government and the American people have a hard time realizing that we are in fact BROKE! thats why we owe 14.8 trillion dollars in the red. So I guess my question is what are we going to say and do when this amount doubles?

Posted by: Ron Paul 2012 | July 28, 2011, 7:28 am 7:28 am

It is utterly delusional for anyone to think the vast majority of the American people will not blame the TP after all the attempts at compromise from everyone in Congress, except THEM. THEY make everything way worse than it already is and America says ‘It’s Obama’s fault’?! Only in their teenage dreams and fantasies.

Posted by: sameagain | July 28, 2011, 7:28 am 7:28 am

3 items: (1) To put the next debt ceiling negotiations in December will affect Christmas sales and the economy. Which way is debatable. (2) Anyone who thinks there won’t be a backlash if 55 million SS checks aren’t paid on time is delusional. professional opinion] (3) Why wouldn’t default give aid and comfort to US enemies and make the politicians guilty of treason? [18 USC 2381.]

Posted by: Dan Kilty | July 28, 2011, 7:34 am 7:34 am

There is no logical way the 14th Amendment can be interpreted to supersede Article 1 Section 8 of the Constitution, which is what the proponents of this plan claim.

Posted by: Tyrone | July 28, 2011, 7:43 am 7:43 am

>Anyone who thinks there won’t be a backlash if 55 million SS checks aren’t paid on time is delusional.
DAMN RIGHT!

Posted by: djconklin | July 28, 2011, 7:44 am 7:44 am

>(Even if he won’t Solute the Flag!)
I don’t do that either. Care to come over and talk about it?

Posted by: djconklin | July 28, 2011, 7:45 am 7:45 am

I was leaning on the president using the 14th, but after careful consideration; I say without a good strong bill that address the debt, rasie the ceiling and cut spending, let the games begin. Go for the default at all cost, if the Republicans refuse to have a balanced bill that includes plugging loop holes and getting rid of the Bush tax cuts for the wealthy. The country is not ruled by the Republicans nor the Democrats, both must come together for the betterment of all.

Posted by: Otto | July 28, 2011, 7:46 am 7:46 am

Really? This is all Obama’s fault? It’s his economy and his debt? Really? I did not vote for Obama and I am certainly no fan of his now, but to place the blame on him for this mess is misguided at best. This nation has been in debt for far more years than Obama has been president and will likely be so years after he is gone. Congress has the purse strings and therein lies the blame. They spend our money like the American people are some kind of money tree that never runs dry and we never really hold them accountable. There needs to be a clean sweep in the House and the Senate and the White house to re-boot this nation and send all politicians the message that the American people will not stand for politics as usual any longer.
But it will never happen….

Posted by: Givemeabreak | July 28, 2011, 7:46 am 7:46 am

As we rocket towards default, let’s remember that a deal was done last week until Obama, once again, changed the game by demanding a 50% increase in the additional taxes agreed to by both sides. Boehner was correct to cut Obama out of any more discussions. It is clear that John Boehner was the adult in the room and that he is the last, best hope for avoiding default. He has worked tirelessly to forge a bipartisan agreement. Hopefully both sides will aceept less than their ideal solution for the benefit of the US. Obama, who seems to have perfected the ‘Lead from Behind’ philosophy of government, will have no choice but to sign the bill.

Posted by: BubblerDad | July 28, 2011, 7:48 am 7:48 am

Maybe Harry Reid needs to be fired. The House passes a bill and Reid makes some claim that it is DOA, not for what’s in it but for who wrote it. That man is putting his petty politics ahead of this country. It’s all sour grapes with him. He is not upholding his oath.

Posted by: brianna | July 28, 2011, 7:49 am 7:49 am

Whey even run this story. BO without a blank check! Everyone knows it too ABC, no need to try to start drama today. Pretty clear why the demon cronies of his wouldnt compromise is because they knew what would happen if they just sat on their duff.

Posted by: succab | July 28, 2011, 7:51 am 7:51 am

All you people…..still don’t ‘get it” DO YOU? This topic is just another side show distraction that will never happen. BUT… at least we have people in Congress who are CONCERNED about what the MARKETS think versus pushing their stupid, ideological plans that don’t have a ‘snowball’s chance in ****’ of passing both sides of Congress. The GOP is being ‘outmaneuvered by a President who is FAR, FAR smarter than them. A deal will get done….and this ‘spectacle’ of what happened, this ‘manufactured crisis’ concerning the raising of the debt ceiling, that the idiot side of the GOP has created WILL BE turned into them…as it should be. The funny part is that ONLY THE SMARTER part iof the electorate will get that. But it is that part of the electorate the President needs to get reelected next year. And he will be reelected. He has been the ONLY adult in the room! I cannot believe that the GOP leadership thought they could outthink or outmaneuver him. Actually they probably didn’t. they just could not control the idiot ‘tea partiers’ of their caucus.

Posted by: CND FOX | July 28, 2011, 7:52 am 7:52 am

Why are the American people always cast as blaemeless in this mess. It’s the electorate that will go crazy if they don’t get their social security or Medicare payments. The electorate talks out of both sides of their mouth. We want debt reduction, but we want to keep the two biggest elephants in the room untouched (social security and medicare). Every politician knows that touching these programs is akin ot committing political suicide. The electorate is squarely to blame for this one, specifically the baby boomers. Their entitlements are going to cripple the country and they don’t care. They are the most selfish generation ever produced by this country. They have hoarded every golden egg ever produced by the country and know they are going to shoot the goose.

Posted by: wschilke | July 28, 2011, 7:55 am 7:55 am

THIS IS OBAMA’S FAULT WITH ALL HIS POVERTY PAYMENTS, RIPOFF HEALTHCARE, he works for the lazy deadbeats in this country and its showing now isnt it.
OBAMAcare is the culpurt along with his irresponsible spending. Im not saying all the other presidents didnt do but not to the point he did. They had enough sense to know it isnt the bottomfeeders that pay the bills in this country. ITs the taxpayers. Now that he has left us with one third less money to spend the next decade is going to be miserable. Inflation is setting in and costs have literally skyrocketed.

Posted by: succab | July 28, 2011, 7:56 am 7:56 am

One thing good about this for sure, the loopholes will be there and I will still get my 11,000 dollar tax refund!!!! Thank you BUSH

Posted by: succab | July 28, 2011, 7:58 am 7:58 am

“John Boehner was the adult in the room”…as the adult, all he had to say was no Mr. President, we’ll just stick with what we have. Instead he kicks the marbles and storms away. Not adult at all. No, the TP was twisting his ear and dragging him away from the table. Guaranteed. Otherwise, the way he carried out negotiations was irrational and I don’t think he is an irrational man.

Posted by: sameagain | July 28, 2011, 8:00 am 8:00 am

Back in the 70′s, I was told that SS would not be there when I retired. So how does a program such as that end? I would imagine that there would be many worthless checks that can’t get cashed.
Don’t take this the wrong way, I’ve paid a fortune into it. Many people don’t know that they personally only pay half, and their employer pays the other half. As soon as you are self employed you are on the hook for the full 15%.
So with all that money flowing into it, it still is a huge slice of our debt pie. I don’t see it surviving much longer.
When it goes, many people will have worthless checks, it is going to happen, just a matter of when.

Posted by: brianna | July 28, 2011, 8:08 am 8:08 am

The T-Baggers are insane, just ask John McCain. They are acting like the immature toddlers that they are. The Koch brothers must be loving this!

Posted by: Searambler | July 28, 2011, 8:10 am 8:10 am

Social security has to be paid & be on time. It is the law “in 1996 Congress passed a law amending the Social Security Act to specifically allow Social Security payments to continue to be made when the debt ceiling is reached. The legal mechanism: redeeming the Social Security trust fund bonds (money the general fund owes to Social Security) by issuing debt to the public. Since both types of bonds are included under the legal debt limit, this does not incur any new debt that would breach the ceiling.” Another words it look to me they have to be paid on time and in full.”
The U.S. treasury & the White House should be aware of this law. If the U.S. Treasury doesn’t pay your Social Security on time and in full, can you sue them or do you have to do a petition of redress or both?

Posted by: Greg Patrick | July 28, 2011, 8:10 am 8:10 am

Due to the fact i am british and living there this story is making HUGE headlines over here!
What i cannot understand is that “IF” the debt limit is lifted “Then What”..for how long would it be before the American goverment are back in the very same situation? as an outsider i believe it is best to deal with the Bull by the horns so to speak and try to reduce the debt now rather than add trillions more Dollars? the intrest would ONLY go higher and putting America in a more Dire situation just months later..
The American government is a VERY complex and i belive there is SIMPLY too many people involved in it! here in the UK our goverment is reducing the size of the parties to save money and i am lost too know why the americans are not following suit.?? can you imagine just how many tens of millions of Dollars are been spent having all these lush conferences and governmental gatherings? its about saving money and IF the public have to bite the bullit so should the government…

Posted by: keith goddard | July 28, 2011, 8:10 am 8:10 am

America knows it’s the Republicans and their evil spawn the T-Baggers who will be to blame when this all falls apart. So long GOP in 2012!

Posted by: Searambler | July 28, 2011, 8:11 am 8:11 am

I say go for it! I believe a rational debt reduction plan can be attached to it. If the Republicans want to try and undo it, they can. As for me I’d reduce federal base salaries over $150K by 20% including congress and the exec. branch. 125k – 150k down 15%. 100k to 125k down 10%, 75k to 100k down 5%. Active military under 100k exempted. Everyone else take the hit. This is better then laying off gov. employees and contributing to the unemployment problem as the Republicans want to do. Just sayin’.

Posted by: Bob in Texas | July 28, 2011, 8:17 am 8:17 am

If I were a deficit (A mock on the debt).
—————————————–
If I were a deficit I’d want to be a big one, not small like
the stars, but more like the sun.
Don’t add me up with pennies, nickels, or
dimes give me no quarters but dollars are
fine. Add them in Trillions, it lends to the
shock, rummer me out their is no ceiling
to stop.
Add me, oh add me, but don’t pay me back,
and if someone ask why, don’t give them
no slack. Just tell them your really trying to
decide on a solution in which to abide. Of course you don’t
tell them there’s no cure for this debt, with all the other
confusions with hope they’ll forget.
And with the ruin, and destruction, that adventially
will come, I will just chalk it up
to the rest of my sum.
Steven E. Frizzell
Please pass it on, we neen to be out of debt.

Posted by: Steven Frizzell | July 28, 2011, 8:17 am 8:17 am

In a report published last February, the Government Accountability Office, the oversight arm of Congress, described the U.S. system as fairly unusual, since the U.S. debt ceiling process moves independently of the general budgeting process.
“The U.S. statutory debt limit is an uncommon attribute not shared by most sovereign debt issuers in that it is not tied to the budgetary process. As a result, when the government adopts a budget, the financing of the expenditures authorized is not automatically assured. While lawmakers in April approved spending appropriations for fiscal year 2011 (after continuing resolutions had allowed the government to operate since the beginning of the fiscal year), about 40 percent of this spending must be funded by borrowing. Borrowing is subject to the debt limit, with the current limit having been approved in February 2010. There is, therefore, no direct connection between the spending levels authorized by Congress and the ability of the government to fund this spending.”

Posted by: Searambler | July 28, 2011, 8:17 am 8:17 am

Whether a band-aid deal happens or not – the USA is in rapid and decided decline. Further, Washington D.C. from top to bottom will only speed up this process. Only a monumental crisis (it is coming) will force the voter to RE-ENGAGE. Until then, all bets are off.

Posted by: Michael | July 28, 2011, 8:17 am 8:17 am

There needs to be a clean sweep in the House and the Senate and the White house to re-boot this nation and send all politicians the message that the American people will not stand for politics as usual any longer.
But it will never happen….
If SS payments are delayed and default raises interest and wrecks the global economy, let’s make it happen. EVERY INCUMBENT OUT!

Posted by: Dan Kilty | July 28, 2011, 8:17 am 8:17 am

Obama has said that any bill put forth by the House Republicans, if it passes the Senate, he will VETO. So who is holding up the process? Who is acting like a spoiled brat? Who is being criticized this morning on liberal news shows that he is “weak’ and trying to lead from behind? The answer: Barack Obama. I say, let Obama invoke the 14th Amendment. He will seal his fate. He will be impeached. His own advisors told him it would be dangerous to do this. But, remember, Obama doesn’t listen to his advisors…its not about America or her well-being, its all about Obama. Obama has failed..miserably…face it Democrats…your “messiah” really CANT walk on water or calm the seas….he’s toast!

Posted by: David From Texas | July 28, 2011, 8:18 am 8:18 am

This is a crisis because Republicans made it a crisis. It’s not a real crisis. We have many, many real crises. We have a job crisis. We have a growth crisis. We have a deficit crisis. We have a human capital crisis. We have an infrastructure crisis. We are not handling these crises now. We are handling a completely artificial crisis.”

Posted by: Searambler | July 28, 2011, 8:19 am 8:19 am

Can someone explain to me why there is ever a vote to increase the debt limit? When exactly would there be proper time to vote NO? If this isn’t THAT time, what criteria is required to influence Congress to vote NO? I’m not getting that the assumption is, the only vote should be, could only be a YES vote.

Posted by: fedup_11 | July 28, 2011, 8:21 am 8:21 am

WSCHILKE….you just don’t GET IT do you? Babyboomers have PAID into this ‘safety net system’ for thirty to forty years….and you have the AUDACITY to call that an entitlement? You are showing your vast inexperience with REALITY! And at the same time you are allowing the RICH who control the GOP and the Tea Party to turn you against fellow middle class people with that CRAP!

Posted by: CND FOX | July 28, 2011, 8:22 am 8:22 am

The President does’t need to invoke the 14th amendment. He needs to start formulating a a plan with the Secretary of Treasury, on what will get paid and what won’t. This crisis cannot be solved in the few days that are remaining, and the hastily prepared legislation would be junk in any case. When the social security checks fail to show up, do you honestly think that they will be able to impeach a President dealing with an artificial crisis created by Radical Republicans? They should have taken the 4.7 trillion dollar deal when they had it. The cost of a credit rating downgrade will be as much or more than Obama Care. The only thing Americans hate worse than big government is bad government. If the Democrats can make that the narrative of the 2012 election year, they be celebrating.

Posted by: Eric | July 28, 2011, 8:23 am 8:23 am

@ Searambler
The Tea Party is not evil. My father, a democrat, has gone to many rallies and he considers himself to be a Tea Party member now.
So let’s tone down the hateful words huh? My father is a very smart man and if there is something that causes him to abandon the democrat party, I’m going to listen to him long before I listen to someone who comes across as a little crazy on a blog calling him evil.

Posted by: brianna | July 28, 2011, 8:24 am 8:24 am

Not a precedent we want set. Our system of government was set up purposefully to be messy and contentious to avoid the abuse that comes when power is too concentrated. We don’t want future presidents going down this road.

Posted by: BCT | July 28, 2011, 8:28 am 8:28 am

Obama faces re-election in January of 2012. He raises this mountain of red ink to please his Abu Dhabi oil cartel. Should the House of Representatives impeach Barack for collusion with a hostile, foreign oil trust?

Posted by: dustin57sc | July 28, 2011, 8:29 am 8:29 am

Anyone who thinks Obama will be blamed for this is delusional. This is a misguided attempt to brow beat America into being something it’s not by people who currently hate America for what it is. They are desperate and delusional, and most importantly solely responsible for manufacturing this particular crisis. Are there problems that need to be fixed! Duh. (that means yes) Is this the way to fix them? Do polar bears really take vacations in the Bahamas? (that means no)

Posted by: sameagain | July 28, 2011, 8:30 am 8:30 am

I really wish that John Boehner had elaborated on his “Obama moved the goal posts” statement. I have no idea what he is talking about. What were the specifics? The President and Democrats are allowed to ask for ANYTHING is a negotiation, all he had to say was “no”, that’s negotiating 101.
But that’s not what happened, instead he shut down a 4.7 trillion dollar deal to lower the deficit. My take is that President Obama was ready to fix the deficit spending issue and they simply couldn’t allow it politically. As it stands already they will have a tough time beating him, and if he solves another crisis (even one created by the Republcans) it will be impossible to beat him. So the only thing to do was walk out, before President Obama could achieve something. Let’s face reality, the Republicans want him to fail. His Obama was Jello, John Boehner was smoke.

Posted by: Eric | July 28, 2011, 8:37 am 8:37 am

I am tired of this president no wounder right after inauguration just a few months letter the Cuban community call him a Castro, because they saw what Castro did and the consequences, now the Venezuela community who leave Venezuela just a few years back they call him a Chavez, but here the jerks at the news are ignoring all this including us. I will not be surprise of internal fight here in the US supported by the WH and the Unions to hold power.

Posted by: RGR | July 28, 2011, 8:46 am 8:46 am

For those who keep listening to the ill informed, or, purposefully, misleading politicians saying that the President hasn’t introduced any new legislation: you HAVE to be a senator or representative to introduce legislation. The President may suggest to constituents, as he has, but may NOT introduce any legislation. Obviously, the news just pushes the propaganda or is just as uninformed as many of these political officials who are about to, completely, crash our economy.

Posted by: Shadow | July 28, 2011, 8:49 am 8:49 am

It doesn’t matter if they increase the debt ceiling if there is no curbs on spending. The creditors will just look at our ability to pay back and will see that we have no intentions of doing that. This government has grown 30% since BO has been in office and we can’t afford that size government. The government does not produce anything nor does it make any money. All it does is suck money in.

Posted by: jsf | July 28, 2011, 8:54 am 8:54 am

So let me get this straight: After holding up everything, after all their walkouts, after all this ‘drama’ in their ranks the Republicans are going to present a terrible bill to the Democrats and President and then say take it or leave it and if you don’t it’s all your fault this crisis has happened.
This has all been scripted so their tea party jihadists in Congress and out here will scream at the Democrats this exact point and their messaging ploy to the rest of the country will be “See, we are the rational ones, we have ‘compromised’ and we presented a bill that will pass (their tea party jihadists) and the Democrats are the ones who set us on this default.
Please, people. Don’t be fooled by this Republican smokes and mirrors campaign. They have been, and still are, holding this country hostage.
Posted by: prohb
_________________
You and the Democrats should actually be in approval of the bill that Boehner is proposing to the Senate. The Tea Party is AGAINST the bill which means it must actually lean the Democrats’ way. If the Senate rejects this bill there is only one reason. The DEMOCRATS are the ones who are not willing to compromise and will reject anything coming from a Republican BECAUSE he is a Republican.
Who are the “jihadists” here?

Posted by: spike | July 28, 2011, 8:59 am 8:59 am

Don’t you get it? The GOP AND Tea Party have wanted this president out from day one! THEY are the ones ruining this country. Tea Party promised not to raise debt ceiling…duh we will go under if we don’t! Glad you voted them in?

Posted by: Barb | July 28, 2011, 9:01 am 9:01 am

President Obama is not king or a dictator, even though he thinks he is, we are still a nation of laws and if he passed a debt ceiling increase on his own he should be impeached.

Posted by: Freedom | July 28, 2011, 9:04 am 9:04 am

As a republican myself, I am appaled that we’ve allowed our party to be held hostage by a small minority that refuses to acknowledge the impending doom of August 2, and the eventual decline of the fulll faith and credit of the USA!
As a Reagan supporter, even I know that he had to govern from the center. He raised taxes on Social Security from the 1982 commission, granted amnisty to illegals, negotiated with terrorists (Iran-Contra) and cut and run from Lebanon – all of these things are contrary to right wing conservatism and yet I still supported these decisions.
Reagan also raised the debt ceiling 18 times.
I didn’t vote for Obama, but he is the kind of pragmatic president we republicans used to want.
If Obama were Republican and invoked the 14th amendment, every right wing conservative would support him – the way I did when Reagan fired the air traffic controlers.
Mr. President – USE the 14th Amendment and end this BS!

Posted by: Ian Johnson | July 28, 2011, 9:06 am 9:06 am

Someone at ABC needs to do fact checking or spell checking. Rep. James Clyborn is a Democrat (hint assistant minority leader)not a Republican. I gotta laugh at John Boehner, we are not giving him a blank check. Uhh, John, Congress has the power of the purse, not the executive branch. And I don’t think I heard a peep during the raising of the debt ceiling from the GOP since 1994.

Posted by: MiketheElectrician | July 28, 2011, 9:09 am 9:09 am

Decisions made in last minute desperation are usually wrong. I have no confidence the House will propose a bill that can get past Congress, much less Obama. Boehner is thinking of his political future, not our financial one.

Posted by: Wayne | July 28, 2011, 9:09 am 9:09 am

The only sane answer is a combination of massive budget cuts and tax increases for the rich. Why can’t the Tea Party fanatics see that this compromise will work? They’re threatening world financial turmoil and will pay the price in 2012.

Posted by: musquash2 | July 28, 2011, 9:11 am 9:11 am

He won’t raise the debt ceiling. He’s too smart a politician. He did manage to get elected president remember? He outsmarted plenty of other politicians to get there too. No, this albatross shall adorn the upper torsos of those who have worked so hard to earn the constitutional right to so proudly wear it. Afterward they will be heard to utter the words “Voters, voters everywhere, and not a vote for me.”

Posted by: sameagain | July 28, 2011, 9:12 am 9:12 am

The people on the bottom of the economic pay scale will pay dearly. They’ll suffer and the top one’s on the pay scale may feel a tiny pinch but that will be it. They should get someone that makes $35,000 to $45,000 to see where the cuts should be made. They’d look at it differently than the pigs at the trough do. They want to cut social security and medicare that the poor would depend on yet their medical plans are costing millions to tax payers. Their pays and pensions cost us millions. They go right for the bottom peoples throats and it’s discusting. They’re not satisfied with their big pays, they want more and they won’t cut themselves. These are the god fearing people that run this country.

Posted by: frik4frak | July 28, 2011, 9:17 am 9:17 am

First of all like to thank you for allowing me to express my views through this media. Also I wanted to clear up that I am neither Democrat nor a Republican but just a small American Citizen and love this country and its freedom.
I been watching and following our economic crisis for past few years and am worried that what will happen to our children and our grand and great grand children if we don’t act now!!!!
Now looking at the history of all economic problems that we currently facing are obviously not created by Mr. Obama or Democrats as all Republicans are claiming. I don’t think it is difficult to understand. If we look at just a recent history, when President Bill Clinton left a office, I understand we had a surplus in our budget, then Mr. Bush came and we went to wrong war with Iraq and spent Trillions of Dollar and lost thousands of our solders, unnecessarily . To my knowledge and memory, I never seen any Republicans asking Mr. Bush why he and Chaney went to wrong war at that time! Why? But now all of these Republicans are roaring like a lions against Mr. Obama and Democrats. I wish all roaring Republicans had come out then, we would not have this current problem.
I am really upset on Republicans and their leadership that they all have ganged up against current President and not even willing to sacrifice. I cannot believe that our solders can sacrifice their life in wrong war but Republican cannot sacrifice a single dollar for their country’s economic problem by raising Taxes to reach people!!!! They say that they don’t like to raise taxes on American people. Who are they talking about? Rich, Poor, or Middle Class? They say that reach people creates job for middle class and poor? Then what happened during Bush time? We just saw what happened during past several years those same reach people and corporate giants sucked up the entire stock market leaving those middle class people like us empty handed with ’0″ balance on our hard earned investment while enjoying their highest tax cut (Bush Cut) and lavish bonus in the history of this country.
I sincerely hope and request educated Republicans to wake up and sacrifice at-least few dollar for the country by allowing raise on rich peoples tax. I am sure it won’t hurt them. Don’t be dead lock !!!!
Thanks

Posted by: mj | July 28, 2011, 9:24 am 9:24 am

This entire issue goes to the total IGNORNANCE of the Tea Party Movement. IF any of these people understoond the Constitution – they would understand that it is the mandate of the U.S. Constitution (something they as the “ONLY” patriots) claim to uphold! Really? The Constitution requires the CONGRESS to pay all the “obligations and debts” of these United States. NOT the Executive Branch – it should legally require amending the U.S. Constitution for the President to pay the bills. Last time I checked this requires a national VOTE by all citizens to change the Constitution? Which leads me to the conclusion that YES – the GOP is trying to seriously nail the coffin shut on the administration by forcing the president to do THEIR job! Being a democrat I have to say – I think these people are total fools who have NO long term understanding of the real effects of what they are planning to do. I guess ALL tea party memebers are so rich – they can care for all of their families and friends who will suffer from having no SS, no medicare and no medicade. And Ms. Bachman – can continue to receive her “whites” only farm subsidies since she does not want black folk to get any have ANY gay people in your life. GOD forbid any evangelicals know a homosexual – this all reminds me of Germany in the 1930′s! Remember Hitler – with his PERFECT society! You people are frightening and are totally corrupting the meaning of FREEDOM for ALL people. Kinda like the Taliban!

Posted by: achillies | July 28, 2011, 9:35 am 9:35 am

“here I come to save the day!” That means that Mighty Mouse is on the way.

Posted by: LongT | July 28, 2011, 9:37 am 9:37 am

Cut defense by at least $50 billion (a pittance for DOD)! Cut other programs! Do not extend the Bush tax breaks! AND then raise the debt ceiling only as needed to keep us afloat. Afterwhich, continue to look for ways to reduce our deficit.

Posted by: Jim | July 28, 2011, 9:37 am 9:37 am

Succab; Harry Reid is running interference for the boy king. He can’t stand him, but he does the party thing. Actually, he’s not doing his job and getting away with it! We surely are in trouble.

Posted by: LongT | July 28, 2011, 9:39 am 9:39 am

Clyburn is dumb as a rock and I can only hope Obama listens to him so we can start impeachment proceedings against him to get him out of office.

Posted by: JOHN HERRERA | July 28, 2011, 9:43 am 9:43 am

Once again it is obvious that all you people get your news from AP or the liberal outlets. We would default only if we CHOOSE to default. NO ONE is saying we don’t have enough money to pay our creditors everything they’re due. Everyone is frantic because the gov’t may actually have to cut back on the reckless spending. That is a horrifying prospect to the Democrat party.

Posted by: s | July 28, 2011, 9:44 am 9:44 am

S – you are sadly misinformed by the right-wing media

Posted by: Jim | July 28, 2011, 9:51 am 9:51 am

Who the hell elected this worm Boehner as President? This guy acts likes he owns the country, lock, stock, and barrel, and that it’s his way or the highway. And where does this clown think he can order other representatives to “get their xxx” in line. Is this Iran or the Taliban here? Representatives are voted to represent their constituents, not to follow their unelected “President” or so called “leader”. Is Boehner afraid that they might not want “fall in line” and thus the heavy handed talk to other representatives. This guy is the biggest jerk to ever get elected and a damn cry baby drunk.

Posted by: jake | July 28, 2011, 9:54 am 9:54 am

How is this the “Tea Party’s” fault? They have approximately 60 members. The House has 435 total members. Maybe if some Dems got on board, we wouldn’t have a problem. There are 193 Democrats. Then you have Reid, who wants to be a hero, shooting down anything coming out of the House. On top of that, BO threatens to veto anything that might come out of the House. Who’s the problem again?

Posted by: BK.70 | July 28, 2011, 9:54 am 9:54 am

I wish some people would learn how to read. Some have stated that ONLY Congress has the authority to enforce the provisions of the 14th ammendment. They are wrong. The 5th clause states “The Congress shall have power to enforce, by appropriate legislation, the provisions of this article”. It does NOT say that ONLY Congress can enforce the provisions. The Constitution places the responsibility of enforcement of laws with the Executive Branch. That means that the President is charged with enforcing the laws passed by Congress as well as most of the provisions in the Constitution itself.
Where many people make a mistake regarding the 4th clause, is in the intent of the clause. The intent was to affirm the validity of debts incurred by the Federal Government during the Civil War, while disavowing any debts incurred by the secessionist states, along with any claims for restitution made by former slave owners.
Invoking this ammendment to raise the debt ceiling unilaterally would, in my opinion, be unsupported by the courts. If President Obama were to invoke it for this purpose, I think anyone who challenges the action in court would have a serious dillema on their hands. If the challenge were upheld, it would immediately nullify the increase, causing the country to default on its debt obligations, and probably precipitate a massive selloff of stocks and bonds. This could lead to economic collapse – potentially on a global scale. Talk about your no win scenarios…

Posted by: Bob | July 28, 2011, 9:56 am 9:56 am

How can people say ObamaCare caused this problem? It has not even started yet… How can people say that this is 100% Obamas fault? The housing crisis was his fault, the stock market falling was his fault, the wars and the deficits were he fault… that he supports the lazy with paying out benefits… Stop and think people. Disagree with his policies, but do not be dishonest to yourselves. If you actually believe that he caused all the problems in America then you are fooling yourself. The president lowered taxes in the stimulus plan… half of that stimulus were tax cuts. you can have your own opinions, but not your own facts.

Posted by: Josh | July 28, 2011, 10:00 am 10:00 am

Bubblerdad; Boehner and his Tea Party cohorts are the problem. Every economist, and even some prominent republicans have stated that you cannot achieve the deficit reductions that are needed without raising some taxes. The TP Republicans flat out REFUSE to even consider any increase in taxes – OF ANY KIND. Rabid inflexibility is not the way governments are run. Governance REQUIRES compromise. Without it you have dictatorship. If you disagree with that, you need to read a book or two on world history.

Posted by: Bob | July 28, 2011, 10:01 am 10:01 am

No plan proposed yet addresses what really needs to happen and that is to forward lean decades out to ensure our childrens children don’t inherit debt caused by us and the empty suites we mistakenly thought had this nation’s best interest in mind. Reform and sacrifices need to be made and made by “everyone”. That includes the rich and poor who abuse and take advantage of a broken system. Obama uses the term “balanced approach”, but is as short-sighted as the rest of the proposals. A balanced approach would include a balanced budget ammendment, but that’s the last thing Obama and Reid want.

Posted by: gunner_1959 | July 28, 2011, 10:06 am 10:06 am

Can’t believe our elected officials can be so stupid. Yes the constitution guarantess our debt. That means that any spending past the debt will be honored regardless of a debt ceiling. This means no one need worry about being paid and this whole giberish about reducing the US’s credit rating is a joke (just shows how worthless these credit companies really are). It also means that while any spending past the debt will be honored, any spending past the debt is also breaking the law as it is not authorized by congress. The president can not change this. the constitution does not say he can approve more spending. If he does, the country will honor it but he will still be breaking the law. It’s not that hard to figure out, sheeeesh. You want more money? Congress has to approve it otherwise you have to make cuts and you should have approved a budget that wouldn’t spend what you don’t have!

Posted by: pgd | July 28, 2011, 10:08 am 10:08 am

Republicans equals…Taliban. Not any different, our way or the highway. They in fact may be the world’s worst terrorists. They can do much more harm without a single weapon than AQ can. Economic terrorism at it’s best. The enemy is within and has a face and name…Republicans. I’m sure our great “Republican” President Abe Lincoln must be turning in his grave. Not what he ever envisioned.

Posted by: jake | July 28, 2011, 10:09 am 10:09 am

Ladies and Gentlemen: The facts are that 535 individuals in Congress are harming 300 Million Americans !
Remember this the next time you are voting,and do not vote for the incumbent.
And, in the meantime, you may want to take advantage of the fall in the Market, and buy some stock !

Posted by: JRLF | July 28, 2011, 10:11 am 10:11 am

There’s no question that the president should seriously consider an executive order raising the debt ceiling. What is taking place is craziness and political tomfoolery. Not only does the Constitution make clear that U.S. debt should be honored, Congress has already voted the expenditures which requires the debt ceiling to be raised. It’s a matter of national security and protecting the general welfare of the citizens of our country. Raising the debt ceiling need not be tied to anything, it simply must be done. The president should do it. Let the courts decide if it’s constitutional if they must.

Posted by: hopesprings52 | July 28, 2011, 10:12 am 10:12 am

It is clear that the clause in the 14th is about debt. It is not about spending to incur more debt.
When it comes to the President and the 14th amendment, the 14th mandates that the President has to honor the debt, meaning that the interest payments on the debt HAVE TO BE MADE. That is, the President cannot decide to NOT pay the bond holders thereby defaulting.
That is, there can be no withholding of bond interest payments while the President sends money to say Planned Parenthood or NPR. The President has no choice. If the administration (Treasury) renegs on the interest payments, the President is violating the 14th amendment.

Posted by: RDH | July 28, 2011, 10:13 am 10:13 am

BRYAN MACFARLANE – Please do tell us all about section 5, since you are a constitutional expert. I kid, I kid! You don’t know spit from shinola! Otherwise you wouldn’t Needlessly Capitalize Some words and not others and misspell nearly everything. Plus you do that ignorant tea party thing of “blah blah blah dictator blah blah blah Hitler socialist blah blah blah impeach”. And you think taxes are the most important thing in the world. Go get a job and a dictionary!

Posted by: Joelhunn | July 28, 2011, 10:13 am 10:13 am

Please BO do it. I wanna be there for your impeachment. WOuld be the best thing that has happened in the past 3 years. GO FOR IT…..DO IT

Posted by: succab | July 28, 2011, 10:13 am 10:13 am

If Bush Jr. didn’t get impeached for lying us into the horrific and wasteful Iraqi invasion then Obama isn’t going to get impeached for ensuring that the U.S. will pay its bills. Get a grip.

Posted by: hopesprings52 | July 28, 2011, 10:19 am 10:19 am

Another BS story by ABC.
The ‘last ditch effort’ is illegal as the POTUS doesn’t have the authority to act on his own.

Posted by: Jerry | July 28, 2011, 10:22 am 10:22 am

Let’s see. Obama was elected with over 69 million popular votes (and won Boehner’s home state of Ohio). Boehner received 142,000 votes last election and is Speaker by default. And Boehner refuses to return the pres’s phone calls?

Posted by: MIke | July 28, 2011, 10:24 am 10:24 am

“I have talked to my lawyers,” Obama said
I thought he was a constitutional law professor and the smartest man in the room?
Don’t tell me he lied about that too.No wonder he won’t show his grades.
Who voted for this clown?

Posted by: dean | July 28, 2011, 10:28 am 10:28 am

I recommend everyone on this post watch Jon Stewart’s interview with Juan Williams from the 7-26-2011 episode of The Daily Show. I’ve yet to hear anyone phrase the #1 problem that faces American right now, so perfectly: “there’s a total lack of honest debate….people align themselves with like minded people and avoid honest debate…..if you go to a website and don’t agree with the general tone of the conversation, you’re labeled a traitor and quickly dismissed.” So folks, with that said, until people can get away from pointing fingers at individuals, past and current politicians, the problems we face as a society will continue to distance themselves further and further from resolution. We need honest debate. Both sides MUST compromise to solve our problems. Neither side is 100% right on their own. Niether side is 100% wrong on their own. The thing that President Obama gets criticized the most for is his so called indecisiveness. If you step back and take an honest, unbiased look at his approach, you’ll see he’s trying to get two sides to talk, and discuss real compromise. Republicans are right, we need to take a look at our so called entitlement programs and come up with ways to make them sustainable not for 10 or 20 years, but for the next 5 generations. Democrats are right, we need to look at our Defense spending and we need to seriously discuss the Tax Policies and eliminate loop holes and yes, possibly raise taxes on people who have the means to afford it (not just rich people). For either side to say it’s my way or the highway does nothing to solve our problems. The Republican, Tea, Democrat, and Independent Parties cannot and do not represent the majority of this country alone. They represent us as a collective and need to start working as such. When you come to the table to discuss a plan, be prepared to present your idea, and have your idea modified and/or shot down. The most important word in the dictionary for the U.S. right now is compromise. Until every American, citizen or elected official realizes that, thinking about the present and the future is useless.

Posted by: WeaponX | July 28, 2011, 10:32 am 10:32 am

What is really needed is a Balanced Budget Amendment. The a flat tax for all with no deductions or exemptions. Business should write-off their expenses and costs under expected useful life. No accellerated methods which are used to avoid tax. Any profits sent out of the country should be taxed at twice the flat rate.

Posted by: Loginos | July 28, 2011, 10:49 am 10:49 am

Obama smart??? lmao lmao lmao Obama and the Democrats have no plan and it shows.
Obama got to talk to his lawyers??? wtf.
All I hear from the Obama and the Democrats is Fear of Doom and Gloom. These losers along with a lot of Rebublicains have got to go!

Posted by: BurningFeather | July 28, 2011, 11:10 am 11:10 am

Keep hearing about BO’s plan – he has no p;lan unless you mean Dingy Harry Reid’s plan that counts money not spent on wars we may not fight in the next ten years as cost cutting. You people need to realize that raising the debt limit does not avoid a crisis. If the debt ceiling is raised the deficit increases and we are borrowing more than $.40 of every dollar the government spends. If we raise everyone taxes (not just the rich) to 100% of thier adjusted income – that would only pay one half of the debt. The problem is government spending – if the democrats do not get serious about cost cutting the problem is made worse by an increase in the debt ceiling.

Posted by: retired USAF | July 28, 2011, 11:11 am 11:11 am

A section in the 14th Amendment states that “the validity of the public debt … shall not be questioned.” This surely does not mean that “the public debt shall have no upper limit”.

Posted by: freesouth | July 28, 2011, 11:19 am 11:19 am

I say go for it! I believe a rational debt reduction plan can be attached to it. If the Republicans want to try and undo it, they can. As for me I’d reduce federal base salaries over $150K by 20% including congress and the exec. branch. 125k – 150k down 15%. 100k to 125k down 10%, 75k to 100k down 5%. Active military under 100k exempted. Everyone else take the hit. This is better then laying off gov. employees and contributing to the unemployment problem as the Republicans want to do. Just sayin’.

Posted by: Bob in Texas | July 28, 2011, 11:23 am 11:23 am

@Briaanna…the tea party might not be ‘evil’ however it is VERY unrealistic and ignorant. And in this time and place in our history…it is a recipe for disaster and decline. And unfortuanely IGNORANCE mirrors IGNORANCE. AND THAT MEANS IT DOESN’T REALLY MATTER IF IT IS EVIL OR IGNORANT THAT IS STOPPING PROGRESSIVE DEBATE AND COMPROMISE. It still has the same effect.

Posted by: CND FOX | July 28, 2011, 11:29 am 11:29 am

WeaponX …. well said.

Posted by: Lorrie | July 28, 2011, 11:32 am 11:32 am

I hope that happen the we can kick out all of Congress next year

Posted by: tom kudzia | July 28, 2011, 11:40 am 11:40 am

Obama does not have a plan….there is nothing in writing…the Democrats have had no plan in over 800 days. Liberals will spin it any way they can…calling the Tea Party “evil”, hating the Republicans, etc. I applaud the Republicans..they ran on a platform of NOT RAISING TAXES…they have MADE Obama and the Democrats bow to them…..Reid and his master, Obama, have BOTH said ANY plan the GOP puts forth will be DOA or VETOED. Now, who in the hell do you think is causing this mess…Barack Obama and the Democrats. HOLD FIRM, Mr. Boehner…you have more courage than this weakling Obama. And like many others have posted..PLEASE, Obama, invoke the 14th Amendment..please!!!! We can’t WAIT to start your impeachment proceedings! And, btw, your tactic of trying to politicize this for a re-election bid has failed…just like you, Obama. 2012 = NOBAMA!

Posted by: David From Texas | July 28, 2011, 11:41 am 11:41 am

I cant wait until Obama tries to circumvent the Constitution because his party was unable to make a decision and stalled on purpose. Obama’s Plan Z will be the end of his administration and he knows it. He cant act as a monarch only the Congress can raise the debt ceiling or pass a budget. The President is accountable however for all the problems of his administration and congress including their lack of work, ethics and inability to govern.

Posted by: Guesswho | July 28, 2011, 11:41 am 11:41 am

I cant wait until Obama tries to circumvent the Constitution because his party was unable to make a decision and stalled on purpose. Obama’s Plan Z will be the end of his administration and he knows it. He cant act as a monarch only the Congress can raise the debt ceiling or pass a budget. The President is accountable however for all the problems of his administration and congress including their lack of work, ethics and inability to govern.
Posted by: Guesswho | Jul 28, 2011 11:41:59 AM
GREAT POST! Obama’s legacy will be that he is the FIRST U.S. President that caused America’s credit rating to become substandard. Obama will own this. what Democrats fail to remember is, that Obama is losing this battle and after all this is over, Obama is still faced with 9.2% unemployment that is expected to rise even higher this month. Barack Obama is a TOTAL failure!

Posted by: David From Texas | July 28, 2011, 11:44 am 11:44 am

ABC seems to have a bad habit of “ignoring” Obama’s failures..

Posted by: BurningFeather | July 28, 2011, 11:57 am 11:57 am

We have danced to the edge of the cliff. When the plunge happens, we will all go down. Enjoy the ride while you continue to bicker.

Posted by: what667 | July 28, 2011, 12:11 pm 12:11 pm

Congress has trhe authority to come up with bills that can pass period. Remember this is the FIRST TIME that so much riders have been put onto raising the debt ceeling. So how is this the President’s fault. He asked to get the celling raised in April with no strings attached. This fight is in the wrong arena at the wrong time.

Posted by: kevin mclemore | July 28, 2011, 12:35 pm 12:35 pm

I THINK IF THE JERK’S IN THE SENATE LOST THERE SOCIETY SSI INCOME THEY WORD GET OF THERE BUTT’S AND DO THE RITE THING AND HELP THE POOR NOT THE RICH

Posted by: linda | July 28, 2011, 12:39 pm 12:39 pm

Obama shouldn’t do it now, but if after a week, the financial markets are collapsing, give the Congress 24 hours to pass a single statement bill raising the debt ceiling. If they don’t then invoke it.
The sad thing, Obama is trying to pander to the so-called center, and they are more destructive than the teabaggers. It is bad policy Obama is perusing, but the GOP and their teabagger puppet masters are pursing an even worse one.
Get ready for Great Depression 2.0, thanks to the “centrists” and the teabaggers.
BTW: Ron Paul is a traitor to the middle class. His policies are 19th century, which was a time of slavery, both literally and figuratively. (I know conservatives are unable to understand the word “figuratively”)
I fail to understand why anybody wants to return to such a society.

Posted by: Just the facts, maam | July 28, 2011, 12:45 pm 12:45 pm

SORRY I MIST SPELLED SOME OF THE WORDS//// LOL … I THINK THE JERK’S IN THE SENT CONGRESS LOST THEIR SSI INCOME, THEY WOULD GET OFF THEIR BUTT’S AND DO THE RIGHT THINK AND HELP THE POOR NOT THE RICH

Posted by: linda | July 28, 2011, 12:50 pm 12:50 pm

Again the government plays God with all our lives, savings, security and futures. Congressment and Senator only think of themselves and the political careers not those they are suppose to represent.

Posted by: JofromGeorgia | July 28, 2011, 12:52 pm 12:52 pm

Hmmm, if the Federal Government borrows 40 cents of every dollar spent, then a surcharge on all personal and corporate taxes of 1.67 times the current taxes paid would close the gap (1$/$.6=1.67). So on the lower end if someone paid $10,000 in taxes last year, they would pay $16,700 from now on. On the high end where someone paid $100,000 in taxes then they’d pay $160,000 from now on. So while the multiplier is constant for rich and poor, the rich clearly pay much more real dollars to close the budget gap. That balances the flow, but does nothing to reduce the existing $14 Trillion debt. If these tax increases are unpalletable and/or if we want to actually reduce the debt, then we need to accept fewer government services and social welfare programs in order to spend less. Practical reality will need a lot of both to close this huge gap.

Posted by: Marshall N. Kurfiss | July 28, 2011, 1:18 pm 1:18 pm

ABC, could you do a little investigation into the practicality that increasing the taxes on the rich can close the $0.40 on every dollar spending gap. How much would the tax rates on the rich and corporations need to be to close the gap, and what would the definition of “rich” need to be (>$250K taxable income?)? The Democrats proposal is to cut little but tax the rich more; will that work?

Posted by: Marshall N. Kurfiss | July 28, 2011, 1:25 pm 1:25 pm

Obama has not failed this country. His mistake was thinking that he could get the Repubs to “work together with the Dems” … like ummm… compromise! He wanted to included both parties in making the decisions and in the end, he has to make a choice. Republicans can’t take their heads our of their a—- long enought to think about what’s best for the country instead of the rich fat cats. What a shame that they can’t compromise… there is a place in hell waiting for all of them (Repubs).

Posted by: Lorrie | July 28, 2011, 1:29 pm 1:29 pm

Balanced Fair Rights for All vs. Weber’s Bureaucracy “Cage” of DIVI$ION to Control and EXPLOIT, e.g., FEAR, GREED, Tax & Wage Flips, and pro-Technical / Org’l Systems Change, drive Human $ystem$ change –NOT, PEOPLE Drive and REJECT Change via ETHICS of CARE for fairness.

Posted by: mg kleino | July 28, 2011, 1:52 pm 1:52 pm

I have not heard congress say, lets cut foreign aid, and our saleries. Lets us remember that when Reagan was in office, he may not have raised taxes, but he elemated what we could claim on our income taxes, the same thing happened when daddy Bush was in office, there was a surplus when jr bush took office, and he got us into two wars, which is a drain on the budget, then he borrowed for the 600.00 that he gave back. Every time you turned around he was borrowing money to fund something. When Obama took office we were in debt. The speaker of the house is out to make this Obama’s fault that we are in this mess. To me all of the elected senators and congressmen have their own adgenda

Posted by: Maggers | July 28, 2011, 2:07 pm 2:07 pm

I have not heard congress say, lets cut foreign aid, and our saleries. Lets us remember that when Reagan was in office, he may not have raised taxes, but he elemated what we could claim on our income taxes, the same thing happened when daddy Bush was in office, there was a surplus when jr bush took office, and he got us into two wars, which is a drain on the budget, then he borrowed for the 600.00 that he gave back. Every time you turned around he was borrowing money to fund something. When Obama took office we were in debt. The speaker of the house is out to make this Obama’s fault that we are in this mess. To me all of the elected senators and congressmen have their own adgenda

Posted by: Maggers | July 28, 2011, 2:07 pm 2:07 pm

I wish Obama WOULD invoke the 14th amendment- that would show the conservatives how little they count -they can’t hold economy hostage so they can have all their Nazi agenda in place -it’s sickening to see that dumbass Bochner hold his party’s ideology highr than the welfare of this country -he REALLY should be recalled and sent back to the zoo!!! Charlene

Posted by: Charlene Jones | July 28, 2011, 2:09 pm 2:09 pm

It would be wonderful to see some UNBIASED reporting from ABC. Let’s hear both sides instead of just Mr Obama’s. Not my President, you will notice. They are so busy trying to get re-elected they can’t do what they were elected to do. I hate to leave Diane Sawyer, but if the reporting doesn’t start being UNBIASED, you can bet I will turn the channel and ask all of my friends to do the same.

Posted by: Karen | July 28, 2011, 2:20 pm 2:20 pm

The portion of the 14th Amendment that covers debt is reproduced below.
Section 4 – The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned. But neither the United States nor any State shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void.
Section 5 – The Congress shall have power to enforce, by appropriate legislation, the provisions of this article.
I see in section five that “Congress shall have power to enforce” this article. No where can I find any mention of the President being able to enforce the article. The way I read section 4 is that the debt of the United States is valid if authorized by law and thus not open to question. This article doesn’t say anything about that it has to be paid, but that of course is implied and understood. Most of article 4 is listing what debts are not valid and should not be paid. So where does the thinking that the President can raise the debt ceiling on his own according to the 14th amendment come from. The idea that because he took an oath means he can raise the debt ceiling is ludicrous; I took an oath to protect the Constitution does that mean I can raise the debt ceiling. I don’t think so, only Congress can enforce this amendment.

Posted by: Lobo VNVMC | July 28, 2011, 2:27 pm 2:27 pm

The particular clause they are reffering to was there in order to prevent confederates from claiming a loss of property over their freed slaves and thus from receiving money from said losses, and to prevent any confederate soldiers from collecting a pension from the United States for fighting in the confederate army. That is the sole purpose of that clause, any other interpretation of it is taking it out of context and is invalid. It is a slippery way of trying to get around things, and not something that would ever hold up in any reasonable court of law. It would be illegal.

Posted by: JSR | July 28, 2011, 2:43 pm 2:43 pm

LA LA LA…REPUBS ARE GONNA REGRET WHAT THEY’VE DONE. DO THEY REALLY THINK THEY HAVE A CHANGE OF GETTING ELECTED TO THE PRESIDENCY AFTER ALL THIS… ALMOST PUTTING THE COUNTRY INTO A DEPRESSION???? I DOUBT IT!

Posted by: Lorrie | July 28, 2011, 3:03 pm 3:03 pm

Trying to get rid of the unions… another thing, ummm what else?… ummm, trying to make it harder for people to register to vote,…. holding unemployment hostage a few months back to get their way….what else? I’ll get back to you on that one! LOL… Ughhh, I can’t believe I just sounded like Sarah Palin!! One more thing … trying to interfere with abortion rights instead of trying to create JOBS!!!

Posted by: Lorrie | July 28, 2011, 3:09 pm 3:09 pm

ATTN: Tea Party. I question the patriotism of any American who wants to deliberately bring so much trouble and financial uncertainty to so many people and have the gall to be so proud, smug and arrogant about his/her decision. You are nothing like the original Tea Party, just elitist pretenders.

Posted by: Colleen Connor | July 28, 2011, 3:34 pm 3:34 pm

Reading Assistant Minority Leader Rep. James Clyburn’s biography it does not indicate that he is an attorney or even constitutional expert! What makes him any more qualified than Joe the Plumber with regards to his opinion?

Posted by: Voice_Reason | July 28, 2011, 3:49 pm 3:49 pm

Reading Assistant Minority Leader Rep. James Clyburn’s biography it does not indicate that he is an attorney or even constitutional expert! What makes him any more qualified than Joe the Plumber with regards to his opinion?

Posted by: Voice_Reason | July 28, 2011, 3:49 pm 3:49 pm

i think we should have a recall of every member of the House. They clearly are not representing the interest of the average American. They represent the narrow minded, self-interested, ideologues.

Posted by: BG | July 28, 2011, 3:54 pm 3:54 pm

I find it sad that there wasn’t this much debate when Congress was asked to give Wall Street $800 Billion in tax payer’s money. If we as a country are putting money above basic human needs then in my opinion we are no longer a country “for the people,” but “for the people who can afford it.”
There will be millions of hard working Americans whose lives will be devastated if cuts to Medicare, Medicaid and Social Security are enacted. I myself am a disabled American who depend on these services for my survival. Maybe as an experiment, for one month members of Congress should be made to live off of a Social Security check, food stamps, and rely only on Medicare, or Medicaid when they are sick.
We stepped up to the plate when Wall Street asked for our help. Why can’t they do the same for us. Is it because those wealthier Americans will never need these services, and because it doesn’t affect them it doesn’t matter?
Congress: wake up! Do our principles mean anything? Do the poor, sick and elderly mean anything?

Posted by: jason irwin | July 28, 2011, 3:56 pm 3:56 pm

I know Congress does not always agree but many years ago when the Continental Congress couldn’t agree Ben Franklin called on the members to fall on their knees and call on God.
He said, “We have been assured in the sacred writing, that except the Lord build the house, they labor in vain that built it.”
This might be the answer.

Posted by: mike scarborough | July 28, 2011, 4:24 pm 4:24 pm

Congress ought to do like the Contintal Congress did many years ago when Ben Franklin called on members to fall on their knees and call on God. He said, “We have been assured in the sacred writing, that except the Lord build the house, they labor in vain that built it.”

Posted by: mike scarborough | July 28, 2011, 4:35 pm 4:35 pm

Article says: “Obama seems to agree. At his University of Maryland town hall July 22, the president said he does not believe he could use the 14th Amendment to raise the debt ceiling, even if there is no agreement by Aug. 3.”
Yet, an example of a comment is: “Section 5 Clearly States that Only Congress has the Powers to Uphold the 14th amendment. If Obamma does do this he Will and Should Rightfully be Impeached!”
OBAMA IS SAYING HE DOES NOT FEEL HE CAN USE THE 14TH AMENDMENT. So, why is he getting the negative comments for it? Save the trashtalk for the person that actually suggested it! If your neighbor suggests that you rob a store, that doesn’t make you a thief if you say NO!

Posted by: Bridget | July 28, 2011, 5:27 pm 5:27 pm

Great idea! The President should ask all members of the House and Senate to get together for a prayer vigil! They would all kneel down and ask for divine inspiration until there is an agreement!

Posted by: Voice_Reason | July 28, 2011, 6:10 pm 6:10 pm

In all the debates how much are the sentors and congressman going to give back of their wages. Are they going to cut their benefits. Please ask the question to them so it will go Nation Wide. Put them on the spot. Ask them out right if their going to cut any of their benefits. Please ask them. Someone step up and ask. They don’t mind asking you and I to make cuts. They don’t mind putting us in hardship. How much hardship are they going to go thru?

Posted by: Joseph A. Shaul | July 28, 2011, 7:12 pm 7:12 pm

I can not believe that we have a President and all his Democrats in Washington can’t come out and say what is their plan. Noone,Noone has said what their plan is even if they have a plan.
All they want is a blank check so they can do what they want to. We need to know what is going to happen in this country afterall, this is our Country it belongs to the people we have a right to know. We are tired of the closed door decisions that they are good at which has turned out to be horrible so far. If they are not careful they are going to cause a revolution in this Country. We are not speaking as a Republican,Democrat or Independent. We are speaking as American Citizens.

Posted by: Barney | July 28, 2011, 8:23 pm 8:23 pm

We need a balanced approach. The Republicans can’t go on protecting the wealthiest top 2% on the backs of the working American people. Let’s raise some revenue. I pay taxes…why can’t the billionaires!!
Obama inherited this outrageous debt from the brilliant President Bush. Obama is trying to clean up the mess. These guys need to learn the art of negotiation or we need to send them all to a basic negotiations class. This is sad. It will be painful for everyone, but we need to take our medicine.

Posted by: Patricia Carter | July 28, 2011, 9:03 pm 9:03 pm

After watching tonight’s World News and hearing the status of the debt ceiling debacle, something occurred to me. There’s been lots of talk about who will be paid and who won’t be should the limit not be raised. Since Congress has the choice to let the Federal Government pay its bills or not, shouldn’t Congress be at the top of the list for non-payment? Let’s suspend all pay to Members of Congress. Let’s close their famous gym and their cafeteria. I’m sure I’m missing some other Congressional benefits that would be appropriate. I’d like to propose we stop paying for their health benefits, but that’s probably more out of vengeance than reasonableness.
I’m late to the party with this thought, and am trying to figure out how to get the thought out and get action on it. I’m confident a large portion of my fellow Americans would support this idea. I’ve not heard it proposed.

Posted by: Bob | July 28, 2011, 9:21 pm 9:21 pm

We all strive for the perfect America. Unfortunately, there is no such thing as perfect. We can only try to reach it asymptotically, but can never really be achieved. This is why there is a need for a compromise. We all want lower taxes and unemployment, more services provided, infrastructures maintained and so on. We need to pick and choose our battles and prioritize. Why should Washington’s financial management be any different from the way we manage ours at home?
There are several American millionaires and billionaires that pay little or no taxes because of the Reagan tax breaks. The idea is dubbed the Reagan’s Trickle Down Economics, TDE. The gist of this idea is that the more breaks these corporations get, the more they will reinvest into this country, providing jobs and wealth. Sadly, instead of reinvesting here, they invest elsewhere, where the cost of production is cheaper thus increasing their profit. The TDE is like the war on drugs, neither is working. When something is not working, we must abort and get back to the drawing board to commence a new strategy. We cannot adamantly stay on a path that leads us all on a road to disaster.
So, today as we are facing a financial crisis, that some may deny, social security seems to be the first that goes on the bargaining table. I think that before we take away, cut or even consider the only source of income from some of the lame and the elderly, all government officials should first take pay cuts, benefits and healthcare that we, the American people are paying for. The lame and the elderly are our mothers and fathers, brothers and sisters and will soon be us in the near future. They served our country once. Many were hurt and/or injured serving. They were not dregs of the society. What would happen if we take away or reduce social security? They might just start a revolution in their wheelchairs, walkers, prosthesis and canes. They can stay with their struggling relatives or worst yet out in the streets. I feel that this country has an overwhelming fear of the rich and powerful. If they are not treated well, they can run somewhere else or they can even afford to start a militia against the government that the others cannot afford to do.
To solve our financial crisis, we must use all the options at hand. I don’t think that it is possible to solve all these without some tax increase unless proven otherwise. We need to increase taxes for all and cut spending with a chainsaw especially the pork projects. Often times, we think that we can avoid tax increase especially when it is such a taboo subject. Government officials have a lower chance for reelection after he/she says ‘tax increase’.
The problem is, how can we trust that Washington will cut spending and that the tax increase will be fair and/ or temporary? How can we guarantee that Washington will do the right thing for the country and its people? How can the American people agree to any tax increase when we see so much waste? Just remember, that we the American citizens are partly to blame when we elect government officials that promote pork projects. We should all realize that this is not only about individuals, cities or states but about the country as a whole. Waste should be the taboo. We should not agree to take on more than we can pay for.

Posted by: zarah | July 28, 2011, 9:38 pm 9:38 pm

Maybe it’s time for tar and feathers — let’s start with No-Tax-Pledge Norquist. And run him out of town on a rail.

Posted by: whistling woman | July 28, 2011, 10:00 pm 10:00 pm

“It is clear that John Boehner was the adult in the room and that he is the last, best hope for avoiding default.”
Seriously, almost fell out of my chair laughing at this! Boehner can’t even reign in the renegade fascists in his own party. Obama offered the Republicans the deal of their lives with cuts to SS and Medicare, and THEY walked away because it contained actual revenue. These folks are interested in nothing more than lining the pockets of those who already hold 99 percent of the assets.
If the folks with all the money are the “job creators” who we can’t tax, then I have a simple question: Where are all the jobs? They aren’t job creators, the are monopolistic slum lords wanting to keep the “peasant” class in it’s place. If you make less than $100,000 per year and vote for these folks, you get what you deserve: a bad country song. (lost my house, lost my car…)

Posted by: Jeff | July 29, 2011, 12:05 am 12:05 am

This whole debt debate is just a ruse to scare investors into getting out of Treasuries and into equities and it is obvious who would reap short term gains which is the name of the game.

Posted by: Anonymous | July 29, 2011, 1:09 am 1:09 am

I don’t know why people are so surprised that this epidemic happen? No one was complaining 08 when bush signed a 700 billion check or 09 when big corp.got the bailout money ,still no complaining there. How about in 2010 when they wanted to stop unemployment checks ,but people begged and pleaded not to stop them. Yet now when it comes time to pay we soon forget . Especially corporations who promised with the bail out they would hire more people . Unemployment. Is still at 9.2% ,but we want to blme just Obama? Yea, right ! You can’t even on a shopping without getting a bill a month later. So, this is now later…if senators would just put thw bribe money down for just second ….

Posted by: cocoatnm | July 30, 2011, 2:48 am 2:48 am

But when its all said and done, both parties just don’t get it. (Demorats moreso) It’s about right and wrong only ! Not Demorats or Republican. Why must we have such a debt? If you or I did this, somebody would take our home, bank acct. etc.,etc. I and most of us people out here want to do the honorable thing and save our children from this massisive and burdensome debt. The Tea Party will speak even louder next election. Most of us American are tired of being held hostage. One good thing comes from all this fuss, it shows how a democracy doesn’t work, it kills itself. Time to get back to the Constitutional Republic stated in our Pledge of Allegiance.

Posted by: Al Beyer | July 30, 2011, 6:05 am 6:05 am

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