The House GOP has opted to forego raising the debt ceiling to a set cap for a three month extension as previously reported. The new decision made by those who control the flow of legislation in the House is to now simply make the debt ceiling limitless until May 19th. Even though Republicans could have requested that at least some sort of spending cuts would be part of this new legislation not a single dime of cuts were requested.
This new legislation has multiple negative connotations.
- It essentially nullifies Article 1 of the US Constitution. Removing the ceiling all together gives the Federal Government the power to spend without House approval.
- It establishes precedent that the ceiling is purely arbitrary and could be abolished, as many in the Democratic party have suggested.
- It gives the Federal Government the potential to spend possibly trillions of dollars with no approved allocation within the next 5 months.
- It breaks the promise the GOP made when they took over the house. You now, the one where they said all legislation must remain within strict constitutional authority.
- The new legislation does not actually cease pay to Congress if they do not come up with a budget by the deadline. It only puts their paycheck into an account for them until they do (How will they ever survive…? Oh yea, special interests pays well we are told.)
Senate Democrats have said they will produce a budget resolution that will include increased revenues, and they have promised to consider the debt-limit boost to arrive from the House. Increased revenues is highlighted above due to the fact that it is again a constitutional violation of Article one, which delegates this power only to the House. Regardless of the Constitution, Senate Democrats no longer feel they need to abide. Just as they refused to do so with the Fiscal Cliff, and Obamacare when it came to them taking the power to raise revenue. The vote is set to occur Wednesday, January 23rd.