At the request of House and Senate leaders, President Barack Obama today delayed an official appeal to raise the debt ceiling by $1.2 trillion to make time for Congress to return from recess.
Obama will likely make the official request next week, commencing a political exercise that will allow the debt limit to be increased but provide lawmakers a chance to oppose it. It is widely seen as a way to provide opponents of the debt limit increase with a political show vote that appears set up to ensure that they cannot actually prevent a debt limit increase this year.
The maneuver, laid out in the August compromise to raise the debt ceiling, requires the president to submit written certification to Congress that the debt is within $100 billion of the limit. The limit will be automatically increased 15 calendar days after the request unless Congress enacts a resolution of disapproval that the president can veto.Continue reading on www.rollcall.com