President Obama and Speaker John Boehner went on television and cable this evening, with only eight days to go before default, and the danger of America’s credit being downgraded even before August 2, if it seems as if no agreement can be reached.
Obama made it clear that compromise was essential, and that the Tea Party Movement could not be allowed to hold America hostage, and therefore called for an extension of the debt limit to 2013, along with substantial budget cuts, but with some revenue increases.
Speaker John Boehner, on the other hand, showed no willingness to compromise, and seemed literally held hostage by the Tea Party radicals despite having earlier been involved in negotiations with the President, which he ultimately walked out on, similar to what House Majority Whip Eric Cantor also did.
Obama said an agreement MUST be reached within two to three days, and it is clear that the President MUST take action as soon as possible, no matter what the Republicans in the House do.
So, as stated in earlier entries, the President MUST assert himself and save the country from economic collapse, and the only way may very well be what some scholars and former President Bill Clinton have now said can be done–invoke the 14th Amendment, Section 4–which requires payment of all government debts.
Such an action, as made clear earlier, will cause a firestorm of protest, and likely might lead to moves to impeach the President–a sad, tragic event, but one that many in the radicalized House of Representatives have been itching for!
So let them go ahead and do it, with the certainty that the Senate would not convict him, and it would only make the GOP look even worse, and undermine their chances to keep control of the House of Representatives, gain the majority in the Senate, and win the White House.
Barack Obama would be put through Hell symbolically, but then he really has been already for the past two and a half years. It is time for him to show guts and courage like Harry Truman and Franklin D. Roosevelt in attacking the opposition in their times, and it is certain that the American people at large would come to the support of the President if he took action, and were he to face impeachment.
There is no time for delay, as the country’s economic future is at stake.