Top Senate Democrats signaled to President Obama on Friday that should he choose to unilaterally raise the debt ceiling in order to honor the nation's creditworthiness, they would have his back. Via Greg Sargent of the Washington Post:
The four Democratic leaders — Senators Harry Reid, Chuck Schumer, Dick Durbin and Patty Murray — have privately reached agreement that continued GOP intransigence on the debt ceiling means the White House needs the space to pursue options for raising it that don’t involve Congress, and that the White House needs to know that Dems will support whatever it decides to do.
In a letter to the White House signed by the four leaders that will soon be made public — and was sent over by a source — the Democrats say:
“In the event that Republicans make good on their threat by failing to act, or by moving unilaterally to pass a debt limit extension as part of an unbalanced or unreasonable legislation, we believe you must be willing to take any lawful steps to ensure that America does not break its promise and trigger a global economic crisis — without Congressional approval, if necessary.”
Full letter below: