Mark R.Levin: “Dershowitz is dead wrong."

From ”The Great One”, Mark R.Levin:

“Dershowitz is dead wrong. We don’t have to imagine anything. Congress and only Congress can authorize borrowing under Article I. The president must first pay interest on the debt under the Fourteenth Amendment. The federal government collects ten times as much revenue each month as it needs to cover those payments. As long as the president complies with the Constitution there can be no default. This is basic stuff. Even a Harvard law professor like Dershowitz should comprehend it.

“We are where we are because Obama is an imperial president who has contempt for the Constitution. Imagine what Madison and Hamilton would say about that.”

Senate Deal wanted to Change Rules For Future Debt Ceiling Increases, Congress Would Need Two-Thirds Majority To Stop Obama From Raising Borrowing Limit.

Senate Deal wanted to Change Rules For Future Debt Ceiling Increases, Congress Would Need Two-Thirds Majority To Stop Obama From Raising Borrowing Limit.(Politico).

. . . The Senate plan includes a proposal offered by McConnell in the 2011 debt ceiling crisis that allows Congress to disapprove of the debt ceiling increase, which means lawmakers will formally vote on whether to reject a debt ceiling increase until Feb. 7. Obama can veto that legislation if it passes. If Congress fails as expected to gather a two-thirds majority to override the veto, the debt ceiling would be raised.

The deal would also deliver back pay to furloughed federal workers, require income verification for people seeking health-insurance subsidies under the Affordable Care Act and also allow the Treasury Department to use extraordinary measures to pay the nation’s bills if Congress doesn’t raise the debt ceiling by Feb. 7.

McConnell was pushing hard to include language to give federal agencies more flexibility to implement the sequester, something Reid was objecting to Wednesday morning, sources say. Democrats argue that provision would make it harder to eliminate the sequester in the future and it was not included in the final package. A new round of sequester cuts will be enacted in January without further congressional action, mostly hitting the defense side of spending.Read the full 'Story' here.