Last night, Speaker John Boehner and the House Republicans passed a bill cutting federal spending by $6 trillion and requiring a constitutional balanced budget amendment be sent to the states, in response to a presidential untimatum proclaimed by Barack Hussein Obama ordering Congress to raise the Debt Ceiling by August 2nd, coincidentally, the day after the beginning of the Muslim holiday period known as Ramadan.

The legislation, nicknamed “Cut, Cap and Balance”, would require an estimated $111 billion in immediate reductions and would ensure that overall spending declined in the future in correlation to the overall size of the economy.

The Balanced Budget Amendment would require a supermajority vote in both houses of Congress for any future tax raises.

Voting along party lines, 234-190, the victory was secured by the actions of Conservative first-term Republicans, and dumped the issue’s resolution squarely in the laps of the Democratically-controlled Senate and the president, who have been whining about the Republican’s lack of bipartisanship during the Debt Ceiling/Budget Negotiations.

Speaking of the Upper House, Obama and a number of Republican senators were all aglow in their praise yesterday for a deficit-reduction plan proposed by a group of Senators known as the”Gang of Six”, which called for the confiscation of $1 trillion of American’ hard-earned money, euphemistically referred to as “additional revenue” by these professional politicians.

Scooter (Obama) proclaimed that he hoped that leaders in Congress would “start talking turkey” on a deal to reduce deficits and raise the $14.3 trillion debt limit as soon as Wednesday, using the Gang of Six’s proposition as a roadmap.

A roadmap? Yeah…to a place with a permanent Heatwave, paved with good intentions.

Per Treasury officials, without an increase in the Debt Ceiling by Aug. 2, the U.S. Government will not be able to pay all its bills, and default could result in severe consequences for the economy.

And, besides that, the Obama Family won’t be able to begin their vay-cay up in Martha’s Vineyard.

With time running out, yesterday’s soap opera certainly did not portend a happy ever after ending to this war between the two political parties.

Democrats in the Senate, led by Harry Reid, have announced they will oppose the House passed-measure, although it could take two or three days to reject it.

After last night’s vote was completed, signs started to emerge that House Republican leaders might pivot swiftly.

Speaker of House John Boehner, representing the GOP Elite, hedged his bets before the vote, telling reporters that it also was “responsible to look at what Plan B would look like.”

House Majority Leader Eric Cantor disappontingly chimed in with Boehner, issuing a statement leaning in favor of the Gang of Six proposal:

This bipartisan plan does seem to include some constructive ideas to deal with our debt.

Obama would not endore the Gang of Six’s plan.  His excuse was that administration officials were analyzing it and not all details were known.

But, he did say that it included “a revenue component” along with savings in Medicare and Social Security, making it the sort of balanced approach he has long advocated.

Scooter also hinted that he may use the 14th Amendment to bypass the will of the American people and raise the Debt Celing.

Obama said that the Senate’s two top leaders have been cooperating on a measure that would allow him to raise the debt limit without a prior vote of Congress while also setting up a special committee to recommend cuts from federal programs, including Social Security and Medicare.

According to the president:

That continues to be a necessary approach to put forward. In the event that we don’t get an agreement, at minimum, we’ve got to raise the debt ceiling.

Recently, Former President Bill “Bubba” Clinton came out in favor of using the 14th Amendment option for lifting the debt ceiling, saying that he’d raise it “without hesitation, and force the courts to stop me.”

Clinton said:

I think the Constitution is clear and I think this idea that the Congress gets to vote twice on whether to pay for [expenditures] it has appropriated is crazy.

Clinton and Obama are basing their proposed Congressional bypass on Treasury Secretary Tim Geithner’s implication that the 14th Amendment gave the president unilateral authority to raise new debt.

However, now the Treasury Department has hedged on this point, with its general counsel saying that “Secretary Geithner has never argued that the 14th Amendment to the U.S. Constitution allows the President to disregard the statutory debt limit,” but rather “the Constitution explicitly places the borrowing authority with Congress, not the President.”

Per thehill.com:

Some constitutional analysts have suggested that the 14th Amendment makes it illegal for the United States to default on its debt, giving the president the power to extend the Treasury Department’s borrowing authority without congressional approval.

The amendment reads, in part, that “the validity of the public debt of the United States, authorized by law … shall not be questioned.”

Section 4 of the 14th Amendment actually reads, in its entirety:

The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned. But neither the United States nor any State shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void.

If Obama bypasses the will of the American citizenry by raising the debt ceiling through Executive Order, he’ll witness an insurrection and rebellion against his presidency, culminating Election Day,  November 6th, 2012.