White House Says ‘No Backup Plan’ To Debt Ceiling

White House SC White House says ‘No backup plan’ to debt ceiling

WASHINGTON (OfficialWire) — The White House is dismissing suggestions to sidestep Congress to meet the nation’s debt obligations, declaring that it is Congress’ responsibility to pay the bills of the United States.

President Barack Obama’s adamant stand that he will not negotiate with Congress over raising the nation’s borrowing limit and Republican demands that a debt ceiling vote be linked to spending cuts have prompted a creative outburst of alternatives to driving the country into default.

Under one proposed scenario, pushed by a number of House Democrats, the president could invoke the 14th Amendment, a post-Civil War change to the Constitution that states that “the validity of the public debt of the United States…shall not be questioned.”

Another proposal would take advantage of a legal loophole meant for coin collectors and have the Treasury mint platinum coins that could be deposited at the Federal Reserve and used to pay the nation’s bills.

“There is no plan B. There is no backup plan,” White House spokesman Jay Carney said Wednesday. “There is no alternative to Congress raising the debt ceiling.”

Read More at OfficialWire . By Jim Abrams.

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Comments

  1. jon graham says:

    he doesn't need a back up plan. the gutless gop will fold up like a deck of cards

  2. There is no plan b, O will continue to spend recklessly

  3. Seeks_the_truth says:

    Yet another made up "crisis". America can not, and will not, "default". We have more than enough revenue to pay the interest on money we've borrowed.
    What there isn't enough money for is the extra spending oblameo is doing.
    When is this "administration" going to be honest? (I know, that's a rhetorical)
    When the Demoncraps will cut spending, they might get a little increase in the ceiling. Just enough to pay for what is really needed.

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