The thing is Obama is right that it would be a calamity for the government to default on its debt by not meeting its obligations. Such a thing has never happened and can't be allowed to happen.
Making recess appointments when the Senate isn't in recess is neither rational nor moderate. It's a raw misuse of executive power by a president whose love of government is his most vulnerable spot with the electorate.
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By the time Obama came into office Washington had already agreed over a period of a few weeks to a $700 billion government infusion into the world banking system. Nothing of the sort had ever been done before and it was done spit spot with very little national debate.