The President spoke of the debt ceiling negotiations and his positions on those last night. He is trying to recapture high ground lost when he did not link the Bush tax cuts to an increase in the debt ceiling. Real economic and fiscal policy not just monetary is now being set by an undemocratic institution called the Federal Reserve and the Bond Ghouls. But hey it probably is important in the continued deception of the American public that both the President and Speaker of the House pretend they are important to American life as it is today and for the future.
In fact the Constitution provides a remedy for this dispute. Strict constructionists (and the current SCOTUS is anything but) pay attention. Section 4 of that Amendment reads in pertinent part as follows:
“Section 4. The validity of the public debt of the United States, authorized by law, . . . shall not be questioned.”
Well there you have it. All debts of the US have been authorized and if you argue that the debt ceiling statute is the over arching control on federal spending you are wrong because the federal government has no accounting system that would derive perfectly in any balance sheet what exactly the federal debt is or any that is not already authorized in law. End of story. This is purely two incompetent parties, incompetent to govern a world power, playing games for their own individual purposes. It is in fact a high crime and misdemeanor to conduct themselves in this way. Hoping an article of impeachment gets introduced.
And giving the TEA Party credit for the incompetence of the DEMS and Republicans is a MSM take that totally misses the point.