(CNSNews.com) - Democratic senators have introduced legislation that would grant President Barack Obama, and subsequent presidents, the authority to increase the legal limit on the federal government's debt unless Congress subsequently voted to disapprove the increase.
The bill would effectively take elected members of Congress off the hook for approving an increase in the debt. If the president certified that he was going to increase the debt limit, Congress could simply let him do it without taking a vote--and putting members on the record.
Article 1, Section 8, Clause 2 of the Constitution gives Congress, not the president, the power to borrow money. It says: "Congress shall have power ... to borrow money on the credit of the United States."
Sens. Chuck Schumer (D-N.Y.), Barbara Boxer (D-Calif.) and Mazie Hirono (D-Hawaii) have introduced the Pay Our Bills Act, which would “permanently allow Congress to disapprove debt ceiling increases, instead of approving them.”
“When our debt comes within $100 billion of the debt limit, the president can send Congress a certification that the debt limit needs to be increased by a certain amount. Then Congress has 15 days to vote on a resolution of disapproval, just like we’re doing here in a few hours. This would allow Congress to fully debate and vote on the debt limit. A majority vote would carry in the House and Senate,” said Boxer in a press conference on Tuesday.
Via: CNS News
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