I can not imagine the Republicans giving President Obama (or any future President) an unlimited national credit card, can you? No Congressional purview over federal borrowing?
Maybe I am wrong but it sure doesn’t seem like this is in the cards…ever ever ever in the cards.
Read and tell me what you think: (below is from the NYT that is linked in the preceding post)
“…Mr. Geithner proposed permanently ending Congressional purview over the federal borrowing limit…Republican aides said. He said that Congress could be allowed to pass a resolution blocking an increase in the debt limit, but that the president would be able to veto that resolution. Only if two-thirds of lawmakers overrode that veto could Congress block a higher borrowing limit. “