Debt-limit delay would jeopardize Social Security payments
In addition, President Obama discussed the debt ceiling in a White House press conference Wednesday. He was greatly critical of GOP congressmen who refuse to vote for elevating the debt ceiling if taxes are raised. "Get it done," Obama said, advising lawmakers to "take on their sacred cows.". Reactions to the news conference seem naturally to be split along party lines. I read this here: Obama blasts Republicans on debt ceiling. You can check that out for a detailed information.
As the deadline to raise the debt ceiling draws closer, many are now wondering if Barack Obama will try to go around Congress if a deal is not reached by August 2nd. In particular, a number of voices (including U.S. Treasury Secretary Timothy Geithner) are now touting the 14th Amendment as a way to get around the debt ceiling. There are others that believe that Barack Obama should invoke "national security" in order to avoid a default. If the Republicans and the Democrats do not reach a deal by the end of July, things are going to get really, really interesting and there is no telling what Barack Obama may do. (Read More....)