The Debt Ceiling Crisis is down to less than a week, and Standard and Poors and Moody’s are warning of dire consequences for the American economy, with the lowering of the rating of America as credit worthy, if something is not done quickly.
It is clear that John Boehner, the Speaker of the House, cannot control the Tea Party radicals in his midst, and is in real danger of losing his Speakership in the future, whether or not his party retains control of the House of Representatives.
These reckless anarchists should be soundly defeated in the next election in 2012 to restore sanity to Washington, DC, but in the interim, something must be done to overcome the crisis.
The choice is clear! Follow the earlier suggestion of Senate Minority Leader Mitch McConnell of Kentucky to adopt a bill giving the President three opportunities to raise the debt level, separate from budget cuts–now, and twice next year–to go beyond Inauguration Day 2013, but with Congress able to vote on the extensions.
Most, if not all Republicans would vote no, while most Democrats would vote yes on each extension, but the President would veto each time, and as long as one third plus one of each house of Congress voted to sustain the President, the debt ceiling would be raised successfully, and end this crisis.
It would put the burden on the Democratic Party and President Obama, who theoretically would be blamed for the extensions, and it might hurt some Democrats running for re-election, but as long as 34 Democrats in the Senate and 145 in the House backed the President, it might allow those Democrats who felt endangered to vote with the Republicans against the extensions.
The thought, however, that voting for the extensions would automatically hurt the Democrats is likely to turn out incorrect, as the image of the Republicans as a reckless, extremist party that is ready to destroy Social Security, Medicare and Medicaid, and refuse to tax the rich, and support corporations unwilling to create jobs as they sit on $2 trillion of money, with a lot of it due to the federal government bailout in 2008-2009 and initiated by George W. Bush and his party–this is very likely to boomerang on the GOP and push them out of the majority in the House of Representatives, and help Barack Obama be re-elected President of the United States!
This McConnell plan, while far from ideal, would be better than Obama simply using the 14th Amendment, Section 4, to extend the debt, as it would cause more controversy and could lead to the impeachment process being used against him.
With a certainty, Obama would survive, and the GOP would be harmed, but if we could, somehow, avoid the turmoil of another impeachment mess, it would certainly be preferable!
So Mitch McConnell and his plan could be the savior of the moment and resolve this horrible crisis, created by the radical Tea Party anarchists,who need to be roundly defeated and removed from their position of holding America hostage!