Debt Crisis: House Offers "The Promises Act," Rep. King (R-IA) Says Obama "not prioritizing seniors and military"

July 13, 2011

11:21 pm, Central

Diane W. Collins



Michele Bachmann The Promises Act 7-13-11

Rep. Michele Bachmann (R-MN) Supports

"The Promises Act"

Rep. Steve King (R-IA), Rep. Michele Bachmann (R-MN), and Rep. Louie Gohmert (R-TX) held a press conference this morning outlining "The Promises Act" which will be introduced in the House this week.


The bill guarantees America will keep its promises to pay our military and those who hold our sovereign debt if the debt ceiling is not raised by requiring the Treasury to pay our military first; and second to service our sovereign debt. As explained by the representatives, it is a Constitutional obligation "to secure essential stability." The bill has 192 cosponsors in the House. Sen. Kay Bailey Hutchison (R-TX) has 80 senators backing her companion bill in the Senate.


During the press conference the representatives recognized the leadership of Rep. Tom McClintock ( R-CA) and Sen. Pat Toomey (R-PA) who since the beginning of the year have attempted to ensure a prioritization of paying the interest and principle on our debt in order to avoid default. Additionally, all three representatives recognized that the President and the administration are playing games with the American people. Rather than stating that the President is lying, (as they are constrained from doing by the rule of Congress) the representatives stated that President Obama is being given "bad advice" by those in his administration. They encouraged Speaker Boehner to stop listening to the President because Obama's advisors are not telling him the truth. As usual, it appears the administration is causing a crisis and pushing for everyone to "hurry up." Obama is blocking the ability of Congress to negotiate by refusing to take the politics out of the room and holding the full faith and credit of the United States hostage...


"Paying our military is a Constitutional obligation; debt is a Constitutional suggestion," Rep. Michele Bachmann who supports the bill stated. Bachmann served as a federal tax litigation attorney for five years prior to being elected to the Minnesota Senate and then the US House of Representatives. She is a candidate in the Republican primary for President in 2012. Like other Constitutional Conservatives, Bachmann is calling for Treasury to prioritize payment to our military; and interest on Treasury debt obligations to avoid default and ensure there is no interruption in the bond market. Article 1, Section 8 of the Constitution states Congress has the power to direct how money is paid out... not the President or the Secretary of the Treasury. It is true Congress can pass "The Promises Act" and prioritize spending and the President can summarily dismiss it by his veto, but Obama's going to have to explain why to the American people.


Rep. Gohmert (R-TX) who helped introduce "The Promises Act" this morning has been a proponent of ensuring our military is paid on time and not used as leverage in political games. Additionally, Gohmert said the President and Treasury Secretary should make sure those who hold our debt feel secure, "They have done everything but that and now are scaring our seniors... the fear mongering needs to stop... we need to be truthful... stop the scare tactics." Rep. Gohmert admonished the administration, "Take a look at what you have...$129B in TARP assets, leases, land, the money Salazar returned when he came into office, the Social Security Trust Fund... If our seniors and military aren't paid," Rep. Gohmert said, "it's because Treasury makes the decision not to pay them even though money is there." In addition, Rep. King reminded everyone that Treasury cash inflows are approximately $200B per month.


As the debt crisis looms and the battles continue the American people are asking where is the president we need? One who instills confidence by saying, "We're gonna be okay and here's the plan to get us there. Obama keeps talking about "his plan." Where is it? Obama continues to use the Republicans to define the needs and solutions to the debt crisis then devises strategy to block their honest efforts with demagoguery as he proceeds with his "Big Government" agenda. Rep. Steve King (R-IA ) summed it up well, "The important part of the news today is when President Obama said seniors and veterans may not get their paychecks he was actually saying he is not putting a priority on seniors and military pay.




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