Reid Strikes Back

Harry Reid's response to the Boehner Bill quite naturally gives President Obama what he needs to continue his spending a quarter of the GNP. Alexander Bolton and Josiah Ryan  of The Hill explain: Reid would give the president almost unilateral power to raise the debt limit, borrowing an idea introduced by Senate Republican Leader Mitch McConnell (R-Ky.). Reid would have President Obama request a $2.4 trillion debt-limit increase in two installments of $1.2 trillion each. The requests would be subject to congressional resolutions of disapproval, but these would do little to restrict the president. Obama could veto any resolution of disapproval, and it would take a two-thirds vote in both chambers of Congress to override him. Of course, the bill has the normal (and bipartisan) stupid accounting tricks, because they assume we are fools: Reid also increased the total level of spending cuts from $2.2 trillion to $2.4 trillion, in part by using the January baseline - a budget...(Read Full Post)