Dick Morris Op-Ed: Checkmating Obama
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.