Christopher Monckton of Brenchley, the distinguished former adviser to the late Prime Minister Margaret Thatcher better known to the world as Lord Monckton, dropped a bombshell in his weekly column for WND yesterday.
He proved beyond any shadow of a doubt that Barack Obama’s secretary of the Treasury, Jack Lew, has committed fraud by concealing the fact that the U.S. government has already far exceeded the debt limit approved by Congress.
Theoretically, the debt limit stands right now at $16.7 trillion. On May 17, the debt stood at $16.699396 trillion, according to the Treasury’s own disclosures. Yet by July 12, the Obama administration had borrowed another $51 billion.
How is it, you ask, that the debt limit has been exceeded without so much as a murmur from Congress – not even from House Republicans who have veto power over any debt increase?
Well, it seems Jack Lew wrote a letter to House Speaker John Boehner May 17 to the effect that he would be implementing what he termed in stunningly oxymoronic bureaucratese a “standard set of extraordinary measures” so that borrowing over and above the debt limit could continue.
In other words, since May 17, the Obama administration has unilaterally borrowed an additional $51 billion and declared it as something other than borrowed money.
While you may add $16.699396 trillion and $51 billion and come up with $16.75 trillion, a simple accounting gimmick by Jack Lew claims the debt has not risen at all since May 12. Nothing. Zero. Zip. Zilch. Nada. Bupkis.
Of course, this is what one would expect from the Obama administration – which like borrowing and spending, so long as it’s done by them. (Obama famously opposed increasing the debt limit when George W. Bush was president, saying as a U.S. senator March 16, 2006: “America has a debt problem and a failure of leadership. Americans deserve better. I therefore intend to oppose the effort to increase America’s debt limit.”
But what about the Republican “opposition”? Why aren’t House GOP members screaming about this breach of the public trust and the rule of law? Monckton has an explanation.
“In the commercial sector, false accounting is a felony,” notes Monckton. “Armies of overpaid, under-skilled regulators are waiting to pounce upon every cent that goes astray. In the State sector, false accounting is also supposed to be a felony. Yet armies of overpaid, under-skilled Republicans are waiting to draw their next fat check out of the Treasury. As long as their checks keep coming, they will not – will not – ask the right questions and demand honest answers and straight accounting.”
Monckton, a keen observer of U.S. politics and history, says this kind of fraud represents an impeachable offense.
“What should the Republicans do?” he asks rhetorically. “Just for once, they should act honorably, determinedly, decisively. They should demand that the U.S. Treasury publishes honest figures showing how much the debt has continued to rise notwithstanding the strict limit set upon it by the people’s elected representatives in Congress. Then they should impeach the law-breakers.”
Add that one to the growing list of potential articles of impeachment.
This one is so obvious. It’s a simple matter of looking at numbers on a ledger.
[See Treasury Department's own graph:]
So how are Republicans reacting?
Sen. Marco Rubio raised the issue of the debt limit recently. Do you know what he said?
“The bottom line is that the debt limit and the fact that we don’t have a solution for the debt is also the reason for the crisis,” Rubio acknowledged. “We need to begin dealing with this seriously and stop playing games. Someone has to draw a line in the sand, and I know many of my colleagues and I intend to do so every chance we get.”
Perhaps you thought the debt limit was the line in the sand that was drawn. Apparently not. They just keep moving that line in the sand as the relentless high tide of debt erases it.
I don’t expect Republicans to do anything about it. They haven’t since reclaiming control of the House of Representatives in 2010. They’ve just let Obama spend pretty much whatever he wants by handing him a never-ending supply of blank checks.
I recognized the opportunity of a lifetime Republicans had as a result of the 2010 election and launched the “No More Red Ink” campaign. It’s a high-tech, grass-roots lobbying effort to mobilize House Republicans to do their duty by holding Obama accountable for his out-of-control spending.
While the House can’t overturn unpopular programs like Obamacare and other dependency-creating entitlements that empower Washington over the people and the sovereign states, it can, under the control of Republicans, starve those initiatives of the borrowed funds they squander.
You can’t really blame Obama. Yes, he’s breaking the law. Yes, he’s bankrupting the country. Yes, he’s defying the will of the people. Yes, he’s behaving like a tyrant. But he’s doing just what he told the American people he would do.
The Republicans, on the other hand, actually have the power to stop him but refuse to use it.
It’s designed to shame the Republicans into living up to their promises and their word. Can it work? To date, the “No More Red Ink” campaign has been responsible for delivering 1.5 million red letters to individual House Republicans urging them to use the power they have to freeze the debt limit and return America overnight to something resembling constitutionally limited government. It would require massive cuts in federal spending to the tune of about $1.2 trillion a year.
It would be the nail in the coffin of Obamacare.
It would spell the end of redistribution-of-wealth schemes.
It would kill taxpayer subsidies to official state disinformation sources like NPR and PBS.
It might even dismantle unconstitutional federal bureaucracies like the Department of Education and the abusive Environmental Protection Agency.
It could do all of this and much more with one negative vote by Republicans in the House.
Don’t believe for a minute they can’t do anything about Obama’s abuses. They have total control. And, if they want to keep that control of the House in 2014, they might just listen to an overwhelming expression of the people’s will through the “No More Red Ink” campaign.
At least it’s worth a try.