President Obama wants to respect Constitutional limits
After Barack Obama’s meeting today with Republican leaders — during which they discussed the pain they would spread around the country and when they also agreed that they could live with the pain they will cause if they go through with their plans — it was left to Treasury Secretary Geithner to whip up Congressional support for the latest austerity budget. In this matter, the New York Times reports:
Mr. Geithner appeared to be playing a role not unlike that of Ben Bernanke, the chairman of the Federal Reserve, who warned lawmakers in the fall of 2008 that unless Congress voted to bail out the banking system, the credit crisis threatened to plunge the United States into a depression. Stunned by Mr. Bernanke’s dire depiction, the lawmakers undertook measures that were until then unthinkable.
Lest his warnings go unheeded,
…Mr. Geithner told the lawmakers the White House did not believe it had the authority, under the Constitution, to continue issuing debt if it reached the debt ceiling. Nobody in the room disputed Mr. Geithner’s bleak assessment, the officials said.
Naturally, this President, a man of principle and a Constitutional scholar, would not want to exceed the authority given to his office by the Constitution. Never would he choose a path marked by political excess and legal impropriety. He would not act unconstitutionally even though his acting thusly would spare so many Americans the pain the emerging austerity budget will inflict upon them. It is just not in his nature. He will not flinch when forced by circumstances to look deeply into the abyss; nor would he refuse to throw the “lesser people” into this nothingness when Constitutional duty demands that he do so. He, like President Kennedy, would ask the “lesser people” what they can do for their country. The Constitution, as we have been told, is sacred and enduring, the Demos, on the other hand, is profane and transient.