The US Is Not Egypt But Is Obama About To Go ‘Morsillini’

Thursday, December 6, 2012
By Paul Martin

by Tyler Durden
ZeroHedge.com
12/06/2012

UPDATE: Senate Republicans block vote on President Obama’s debt-limit plan

The Pharaoh-like power-grab of omnipotence that Egypt’s Morsi recently pulled seems to have set a precedent among newly ‘elected’ leaders. This morning, as per Bloomberg, we hear that Obama (and his viceroy Harry Reid) plan to demolish the idea of congressional checks on the debt limit. Incredibly ironic timing – given our previous post (in which Rick Santelli explains why this is a potential disaster), but placing that much unlimited money power in the hands of one man seems like a mistake:

*OBAMA PLAN CALLS FOR END OF LAWMAKER APPROVAL OF DEBT LIMIT
*REID SAYS SENATE MAY VOTE ON OBAMA DEBT-LIMIT PLAN TODAY

McConnell’s response: “Look: the only way we ever cut spending around here is by using the debate over the debt limit to do it, now the President wants to remove that spur to cut altogether.”

The Rest…HERE

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