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Thread: House Debt-Ceiling Plan Would Ban ‘Emergency’ Measures

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    House Debt-Ceiling Plan Would Ban ‘Emergency’ Measures

    House Debt-Ceiling Plan Would Ban ‘Emergency’ Measures - Washington Wire - WSJ

    The House Republican plan to extend the debt ceiling for six weeks would permanently ban the Treasury Department from using extraordinary measures to avoid default, congressional aides said.

    The provision would ban practices, used by Democratic and Republican administrations for decades, which have effectively allowed the Treasury to limit investments in pensions and other funds when the government bumps up against its borrowing limit. These steps have extended the time that Treasury can continue borrowing and paying the nation’s bills while Congress debates terms for raising the debt ceiling.The White House hasn’t said it whether it would accept the condition as part of any deal, though it effectively would be surrendering tools it uses to avoid falling behind on federal payments. The Democratic-led Senate could reject the provision.

    Even though the steps are called “emergency” measures, they have become employed so routinely during recent fiscal standoffs that Congress often waits for the emergency steps to be exhausted before beginning negotiations on raising the borrowing limit.

    Congress earlier this year suspended the debt ceiling until mid-May, but the Treasury Department has used emergency measures for five months to allow the government to continue borrowing money and paying bills. These emergency measures will be exhausted by Oct. 17, the department has said.

    In 2011, the government hit the debt ceiling in mid-May but used extraordinary measures to continue borrowing money and paying bills until early August. The emergency measures have lasted longer in 2013 in part because the deficit is smaller and there is more tax revenue than two years ago.

    House Republican leaders are in talks to extend the current debt limit until Nov. 22. One concern among Republican aides had been that Treasury could use the GOP’s proposed six-week extension and then use emergency measures to continue borrowing money and paying bills for six additional months. But in trying to remove this flexibility, Republican leaders moved to permanently take such powers off of the table.
    can anyone understand why the house republicans are planning on doing this?

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    Re: House Debt-Ceiling Plan Would Ban ‘Emergency’ Measures

    To remove the White House's ability to navigate a debt ceiling standoff without immediately capitulating -- or to remove any wiggle room that Congress has to stall in the future, take your pick.
    I'm already gearing up for Finger Vote 2014.

    Just for reference, means my post was a giant steaming pile of sarcasm.

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    Re: House Debt-Ceiling Plan Would Ban ‘Emergency’ Measures

    Quote Originally Posted by TacticalEvilDan View Post
    To remove the White House's ability to navigate a debt ceiling standoff without immediately capitulating -- or to remove any wiggle room that Congress has to stall in the future, take your pick.
    either way it would increase the chances of us defaulting.

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    Re: House Debt-Ceiling Plan Would Ban ‘Emergency’ Measures

    I've been holding both parties equally responsible for the shutdown, and I was prepared to hold both parties responsible if there's a default.

    That's still true even in the face of this, but as far as I'm concerned this is the House Republicans being a bunch of dicks.
    I'm already gearing up for Finger Vote 2014.

    Just for reference, means my post was a giant steaming pile of sarcasm.

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    Re: House Debt-Ceiling Plan Would Ban ‘Emergency’ Measures

    Quote Originally Posted by Unitedwestand13 View Post
    either way it would increase the chances of us defaulting.
    That appears to be their goal. They are that nihilistic.

    Though there are signs that the normal in the GOP have had enough placating the freaks, and are exiting this scorched earth policy. Even the Koch Brothers have sent signal not to destroy the economy that make them billionaires. They must have held a meeting with their COO.

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    Re: House Debt-Ceiling Plan Would Ban ‘Emergency’ Measures

    Quote Originally Posted by Unitedwestand13 View Post
    House Debt-Ceiling Plan Would Ban ‘Emergency’ Measures - Washington Wire - WSJ



    can anyone understand why the house republicans are planning on doing this?
    Um, because they want a hard deadline, not a soft one, to get negotiations completed? Just a thought...
    I don't often change my signature, but this was just too over the top to let anyone forget with what this country is up against...
    Quote Originally Posted by James D Hill View Post
    I am for gay marriage because it ticks off Jesus freaks and social conservatives. Gays are also good voters because the vote for my side so I fight next to them.

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    Re: House Debt-Ceiling Plan Would Ban ‘Emergency’ Measures

    Quote Originally Posted by AlabamaPaul View Post
    Um, because they want a hard deadline, not a soft one, to get negotiations completed? Just a thought...
    They get that by running out the clock. They don't need to tie the Presidency's hands any further.
    I'm already gearing up for Finger Vote 2014.

    Just for reference, means my post was a giant steaming pile of sarcasm.

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    Re: House Debt-Ceiling Plan Would Ban ‘Emergency’ Measures

    Quote Originally Posted by TacticalEvilDan View Post
    They get that by running out the clock. They don't need to tie the Presidency's hands any further.
    No, if the government is allowed to completely reload, it could begin using the "extraordinary measures" all over again to push out any debt ceiling negotiations...
    I don't often change my signature, but this was just too over the top to let anyone forget with what this country is up against...
    Quote Originally Posted by James D Hill View Post
    I am for gay marriage because it ticks off Jesus freaks and social conservatives. Gays are also good voters because the vote for my side so I fight next to them.

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    Re: House Debt-Ceiling Plan Would Ban ‘Emergency’ Measures

    Quote Originally Posted by AlabamaPaul View Post
    No, if the government is allowed to completely reload, it could begin using the "extraordinary measures" all over again to push out any debt ceiling negotiations...
    Um. Reload?
    I'm already gearing up for Finger Vote 2014.

    Just for reference, means my post was a giant steaming pile of sarcasm.

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    Re: House Debt-Ceiling Plan Would Ban ‘Emergency’ Measures

    Quote Originally Posted by TacticalEvilDan View Post
    Um. Reload?
    Yes, you know, fully repay the programs that it hasn't been which allowed this issue to move from mid May until now...
    I don't often change my signature, but this was just too over the top to let anyone forget with what this country is up against...
    Quote Originally Posted by James D Hill View Post
    I am for gay marriage because it ticks off Jesus freaks and social conservatives. Gays are also good voters because the vote for my side so I fight next to them.

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