(Update, Tea Party caucus to push vote) Checkmate: Boehner can put this away…or make life extremely uncomfortable for Obama and Reid
Per The Hill: Tea Party conservatives are pushing John Boehner to bring the Full Faith and Credit Act to the floor which would force payment to Social Security recipients and the military in case of default.
Per Dick Morris, OUCH!
The House Republicans can checkmate President Obama by passing two one-house bills in the coming week:
1) Allow a conditional increase in the debt limit of up to $200 billion for use only to avoid default. The money could be borrowed only if the Treasury secretary certifies that the funds will be used only for debt service and that there is no other source of funds available for the purpose. Take away the default argument from the president.
2) Prioritize the use of tax revenue in the event of no increase in borrowing authority so that military pay and Social Security checks would not be affected.
Obama’s entire political position on the debt limit is based on a giant bluff: that default looms and “I cannot guarantee that Social Security checks will go out” if the limit is not raised. It’s a bluff, and he knows it.
Obama and the Democrats would surely like to veto/refuse to pass this.
But what exactly would be their public reason for so doing? The real reason is that they are giving up leverage by holding the nation’s credit rating hostage; but they can’t say that aloud.
What would they say? If the House acts to make sure no default happens during this period of negotiations and brinksmanship, what exactly is Obama’s reason for refusing to safeguard the nation’s credit rating?
I don’t know. I don’t imagine they have a very good reason, apart from dismissing it, vaguely, as “partisan posturing” or something.
Here’s why this is important. Boehner was on Rush Limbaugh, stating there was no deal, public or private.
But when pressed, Boehner says it’s important to have a back-up plan to make sure we don’t default.
Now, if Boehner isn’t doing as Morris suggests, then his back-up plan is certainly some form of capitulation to Obama.
Which means that Obama’s strategy wins — he runs out the clock, presents the Republicans with a potential disaster he’s personally engineered, and then demands they give in to him to avert that engineered disaster at the last moment.
Dick Morris’ plan would strip away that hostage-takers’ advantage Obama currently enjoys.
I think me adding anything is completely unnecessary. Sometimes awesome strategy like this needs to be put in its entire context with very few words.