Title 31 USC or the Public Debt Law of 1941 gives President Obama the authority to raise the nation’s debt limit. Let me say that again, the President, under current law, has the authority to raise the debt limit. According to 31 USC 3101 and 3102, the President can instruct the Secretary of the Treasury to increase the debt limit to pay for expenses that Congress has already authorized. In short, the debt that the GOP is now fighting against paying, is debt for services and products that Congress has already authorized. All we need to do now is pay for them.
Specifically, 31 USC 3101, in part, states:
The face amount of obligations issued under this chapter and the face amount of obligations whose principal and interest are guaranteed by the United States Government (except guaranteed obligations held by the Secretary of the Treasury) may not be more than…
31 USC 3102, in part, states:
With the approval of the President, the Secretary of the Treasury may borrow on the credit of the United States Government amounts necessary for expenditures authorized by law . . .
Both indicate beyond doubt that the President can authorize the Secretary of the Treasury to raise the debt limit. A detailed (and eloquent) article puts all of this into perspective quite nicely on the OpEdNews site.
What can we do? Fill out this form to automatically email the President and your Reps & Senators to tell them to ask the President to raise the debt limit as outlined in LAW.