A Tyrant's Dream: Congress Cedes Control Of Federal Debt12 Comments
By BETSY MCCAUGHEY
Posted 10/18/2013 05:50 PM ET
The bargain rushed through Congress on Wednesday night clobbers the U.S. Constitution. It shifts control over the debt ceiling from Congress to the president, in violation of Article 1, Section 8, and pushes the nation toward a slippery slope of allowing the president unlimited power to borrow.
Article 1, Section 8, states that "Congress shall have the Power To lay and collect Taxes ... to pay the Debts and provide for the common Defence and general Welfare of the United States; . .. To borrow Money on the credit of the United States ... "
Until 1917, the president had to ask Congress' permission for each borrowing and frequently acquiesced to conditions. That year, Congress devised the debt ceiling, which gave the president flexibility to borrow up to a certain amount in order to fund a world war.Ever since then, presidents have come to Congress once or twice a year for a debt-ceiling hike. Until this year, Congress had never abdicated control over the nation's indebtedness.
The U.S. Supreme Court has ruled that Congress can't surrender its powers to another branch of government or change how laws are made (INS v. Chadha, 1983). But that's what the deal concocted Wednesday night does.
Instead of raising the debt ceiling, the Default Prevention Act of 2013 suspends it and shifts power to the president to determine how much the nation should borrow.
Congress' check on borrowing is so diminished as to be laughable. It will now require a two-thirds vote — a supermajority — in both houses to "disapprove" the president's decision on what the debt ceiling should be. No real negotiating, as all previous presidents have had to do.Read More At Investor's Business Daily:
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