There’s little question whether or not Barack Hussein Obama will go down in history as our country’s most corrupt president, and leaked documents exposing a sinister scandal from him are evidence to that. They expose what was going on behind the scenes during the debt limit talks, and really are enough to make you question whose side he’s really on.
The Daily Caller reported that Obama administration officials worked directly with the Federal Reserve to lie to both the American public and Congress over the potential consequences of defaulting on our debt. Apparently, as Obama and Treasury Secretary Jack Lew told us all that the government couldn’t function during a shutdown, secret exercises conducted by the Federal Reserve Bank of New York proved otherwise.
The report is being released by the House Financial Services Committee on Tuesday, and it shows just how far Obama’s willing to go to push his agenda. The Caller has more on it:
The staff report, to be released Tuesday, charges that Lew and other Obama administration officials deliberately misled Congress and the public during the federal budget and debt limit showdowns in both years. The committee will convene a public hearing on the report Feb. 2.
The report also states that the Obama administration crafted actual contingency plans to pay for Social Security and veterans benefits, as well as principal and interest on the national debt if the government was temporarily unable to borrow more money. The Committee concludes that over the last two years the Treasury Department has “obstructed” congressional efforts to get to the bottom of the administration’s real-time policy during the two showdowns.
As anybody who’s familiar with the Constitution is aware, only Congress has the power to determine how much money can be borrowed, which means that presidents can’t unilaterally spend money beyond the limits set by Congress. So to circumvent the law, Obama held our nation’s creditworthiness “hostage” during the 2011 and 2013 showdowns by claiming that default was inevitable if the debt ceiling wasn’t increased.
“These internal documents show the Obama Administration took the nation’s creditworthiness and economy hostage in a cynical attempt to create a crisis so the president could get what he wanted during negotiations over the debt ceiling,” Texas Rep. Jeb Hensarling charged in a statement set to be released with the report.
The report also revealed that the Treasury Department did not publicly divulge its plans to prioritize payments “for the express purpose of creating market uncertainty in an effort to pressure Congress to acquiesce in the administration’s ‘no negotiation’ posture on the debt ceiling.”
Wisconsin Republican Rep. Sean Duffy, the financial services panel’s oversight subcommittee chairman, said the administration “manufactured a crisis to put politics ahead of economic stability.”
The massive, 322-page report chronicles frank, behind-the-scenes discussions among Federal Reserve Board and Federal Bank of New York officials as Congress debated whether to keep existing debt limits or allow Treasury to borrow more money. The House committee and the Treasury Department have been fighting a bitter, two-year battle over Federal Reserve documents.
The report states that “Treasury apparently directed the New York Fed not to answer valid congressional oversight inquiries because Treasury knew the answers would expose the dishonesty of the administration’s public statements.”
Isn’t that nice? The committee examined some 3.878 pages of internal documents – which was heavily protested by the Treasury – to arrive at its conclusion, but was only able to do so after a court order for their release. The bombshell report is certain to reignite the debate over the proper level of federal spending and debt, which has tripled under the Obama regime, and undoubtedly casts an even larger shadow on the already troubled tenure of Obama since it shows he’s willing to stop at nothing to further his agenda.
At the time of the clashes, Obama officials repeatedly told Americans that if a debt limit increase wasn’t passed, the only alternative would be a complete government shutdown with no partial payments. Their narrative was echoed by Lew, who told a congressional committee in 2013 that it would be impossible to “pick and choose” which government programs to fund, even though he and the administration were figuring out exactly how to do it.
What will end up coming of the report remains to be seen, but one thing is for certain – it reinforces what many Americans already believe about how deeply corrupted this administration has been. It’s really too bad there’s so many spineless Republicans in Congress, otherwise Obama may have been impeached before he was able to triple our national debt by deceiving the entire country. As I continue to say, 2017 can not come soon enough.