The only executive power that factors in here is the execution of the laws--the branch responsible for the actual borrowing and spending is the executive. I guess that is what "their" argument is--how can the executive fulfill it's constitutionally authorized role if it can't borrow or spend (even though, constitutionally, it can only borrow what is authorized, and spend according to what is authorized by the legislature...which is the part "they" are ignoring). There is a reason there are both authorization AND appropriation bills which together form the legislative part of government spending. The executive can't spend amounts above what is authorized, and must spend according to the appropriations (above a certain threshold, which was $10M when I was working for DOD...as in the maximum that could be moved either from OR too a line item, or the creation of a new line item, could not exceed that amount).
I really don't see how they can argue that any of the law (including the supreme law of the land) permits what is being suggested. If this is done, I will be extremely unhappy with the executive, and will be first in line to sign a petition or referendum to push for impeachment, as it is a major overstepping of constitutional authority, effectively negating the power of the purse delegated to congress.
Anyone else see this as also a way around the war powers act and associated purse limits, let along allowing the executive to borrow/fund items beyond the law ("special police!?)?