Because he’s proven to be such a Good Steward of our finances so far
(Reuters) – The Obama administration’s opening bid on Thursday in negotiations to avert a year-end fiscal crunch included a demand for new stimulus spending and authority to unilaterally raise the U.S. borrowing ceiling, a Republican congressional aide said.
The proposal, made by Treasury Secretary Timothy Geithner to congressional Republican leaders on Capitol Hill, was seen as offering little the Republicans could agree to and was greeted with laughter, the aide said.
Let’s hear that again
Obama’s negotiators also sought the ability to raise the nation’s borrowing limit unilaterally. Currently, Congress must approve an increase in the debt ceiling, and it was an impasse over that issue that brought the country perilously close to default in 2011.