House Democrats Support Executive Order On Debt Limit

Vanessa Remmers

House Democratic leaders are prepared to stand behind President Obama if he issues an executive order to increase the debt ceiling in the event Congress fails to reach a debt limit deal before August 2.

“House Republicans have failed to govern, failure is not an option for our country, and therefore, you leave it to the President to take whatever action is within his power,” Rep. Xavier Becerra (D-Calif.) said.

In his push for an executive order, Rep. James Clyburn (D-S.C.) drew from President Truman’s executive order in the 1940’s.

“[An executive order to raise the debt ceiling] will bring calm to the American people and stability to financial markets,” Clyburn said.

Both House Democratic Caucus Chairman Rep. John Larson (D-Conn.) and Clyburn said the President should veto a short-term debt ceiling increase with the same pen that he signs an executive order, even though both recognized the President’s firm stance on the issue.

In regard to House Speaker John Boehner’s (R-Ohio) budget plan, House Democratic Caucus Chairman Rep. John Larson (D-Conn.) chuckled at its potential support and rumored uptick in momentum.

“The real question is how many Republicans would vote for it,” Larson said.

The final result of the budget battle remains uncertain as Larson admitted that more Democrats would vote for the Reid plan, but placed all predictions on conditional terms.

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Coming Up Monday at the Supreme Court

The Supreme Court building, Washington, D.C. (Photo by James Cullum)

The Supreme Court begins its 2015 term on Monday and will hear cases involving the sovereign immunity of foreign agencies and a Federal Reserve Bank interpretation of the Equal Credit Opportunity Act

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● New mortgage disclosure rule in effect

● The world is shrinking for tax absconders

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