OBAMA’S COSTLY VICTORY ON DEBT CEILING

To end the government shutdown and raise the debt ceiling without accepting any meaningful GOP conditions, President Obama resorted to falsehoods, wounded American democracy, and damaged U.S. global leadership.

The president accused the House GOP majority of refusing to pay bills Congress has already racked up, not doing its job, and defying the outcome of the 2012 election.

In reality, the $17 trillion outstanding national debt funded past spending, and raising the debt ceiling is all about the government spending more than it taxes going forward. The Constitution requires that revenue bills originate in the House, not the president’s desk. If Obama wants to spend more than the country can afford, it requires him to negotiate with the House—that’s where the framers put the money.

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