By: Cliff Kincaid
In justifying the “historic” debt deal, Rep. Jason Smith said Republicans only control one-half of one-third of the federal government. But it was the most important one-half of one-third. The failure by the House to take advantage of its constitutional power may deliver the United States into receivership by the International Monetary Fund as the nation careens toward bankruptcy.
The House is where money bills are supposed to begin. All bills for raising revenue shall originate in the House of Representatives, the Constitution says.
Smith can find that on the website of his House Ways and Means Committee.
The Constitution also says: The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and…To borrow Money on the credit of the United States.”
In the case of the debt deal, the House had passed a bill and the Senate did nothing with it. That’s not the fault of the House. The House did its constitutional duty.
The House should have stood its ground. Indeed, McCarthy had all the leverage and could have insisted on a reduction in debt as well as:
- Building the border wall
- Repeal of the green wasteful “Inflation Reduction Act,” which causes inflation.
- Repeal of Obamacare.