Trillion Dollar Coin

Barack Obama And The Debt Ceiling Crisis: A Moment Of Presidential Assertiveness Needed!

President Barack Obama has done his best to avoid antagonizing opponents with his use of Presidential powers.

He has shown willingness to negotiate and make deals, but the Republican House has refused to do anything, other than threaten to have the good faith and credit of the United States destroyed, a calamity that could lead to a Second Great Depression and harm to the world wide economy.

The Republican Party in the House refuses to help create jobs through federal funding, or to work on building an infrastructure repair and expansion.

The Republicans have made it clear that they are willing to hold all Americans hostage, as they promote their extreme right wing ideology, and work to take America back to the Gilded Age and the 1920s.

So therefore, it is time for action soon by President Obama, a moment of Presidential courage, to refuse to allow the destruction of our economy!

So he has two alternatives.

Invoke the 14th Amendment, which includes language on the payment of government debts.

Use the concept of a trillion dollar coin minted by the US Treasury to cover all debts already incurred and more in the future.

The point is that it was the Republican Congress which built up most of the massive debt we now face, and yet they are ready to refuse to pay the government bonds when due, unless they are able to destroy the social safety net of Social Security, Medicare, and Medicaid.

This cannot be allowed, and although Obama is highly reluctant to take controversial action in either direction mentioned above, he owes it to the nation at large to do so if no alternative is available at that time, which seems likely to be the case!

What is the worst that would happen if Obama took unilateral action?

He would be bitterly condemned by the right wing, called every name in the book, so what else is new?

There might be greater death threats against him, but there are already more than ever before as it is.

The realization is that there would be the likelihood of the Republican House choosing to impeach President Obama for “high crimes and misdemeanors” in office.

But has Obama committed such crimes, or is about to do so?

No more than Abraham Lincoln and the Emancipation Proclamation, or Franklin D. Roosevelt arranging the Destroyers for Bases Deal with Great Britain, or thousands of executive orders utilized by many of our Presidents!

And even were he to be impeached, the odds of Obama being removed from office with a Senate of 55 Democrats is totally out of the question, since 67 Senators would be needed to remove him from office, and there are only 45 Republicans!

Would an impeachment besmirch the reputation of Barack Obama? It would certainly be part of his obituary, as with Bill Clinton, but Clinton has survived very well from the impeachment, and his popularity went up during the impeachment crisis, and the Republican reputation suffered great harm.

The Republican Party would only be putting nails in its own coffin, if it decided that our economy should be destroyed and the President impeached.

The nation and the President would be the winners in such a scenario, so it is soon time for Obama to show guts and courage and do what is necessary, knowing the consequences are something he can deal with, although regrettable that he has to go through those consequences!