This is actually pretty simple. Congress sets revenue levels. - TopicsExpress



          

This is actually pretty simple. Congress sets revenue levels. Congress sets spending levels. Thats how the system works, as laid out in the Constitution. The Obama administration has to spend at the levels Congress sets. Obama cant just decide to spend more or less or tax more or less. The one quirk is that the Treasury Department technically has to get authorization from Congress to borrow if the spending levels Congress has set are above the revenue levels Congress has set. The presidents request to raise the debt ceiling is essentially permission to do what Congress -- including McConnell -- has already legally and Constitutionally required the president to do. McConnell is saying it would be irresponsible to allow the President to do what Congress already mandated that he do. I find the analogy to the Superbowl to be a bit confusing, and Im pretty sure that thats not just because of my near-total lack of interest in sports, but other than that... #istilldontcareabouthashtags
Posted on: Fri, 31 Jan 2014 01:30:46 +0000

Trending Topics



Recently Viewed Topics




© 2015