U.S. Republicans weigh short-term debt limit increase

Comments (12)
kevin2ia wrote:

They only need to write this story once and then just copy and paste it in when appropriate.

1. Reach the debt limit.
2. Republicans say no increase without spending decrease.
3. Democrats say no.
4. Republicans fold like a bunch of pussies.
5. Jointly increase the debt limit
6. Those in Washington celebrate their master/slave position over the peasantry in the balance of the US.
7. Repeat – SSDD.

Jan 17, 2013 7:41pm EST  --  Report as abuse
Vuenbelvue wrote:

kevin2ia Did you leave off the pork barrel spending projects that will be added to any bill? Is it under number 5?

Jan 17, 2013 8:26pm EST  --  Report as abuse
todnwth wrote:

The reason the republicans want to do a couple of months extension of the debt ceiling is they are too dumb to be able to think more than 2 months at a time!!!

Jan 17, 2013 8:53pm EST  --  Report as abuse
jphn37 wrote:

Let me try to explain why this is an inappropriate time to negotiate anything.
Let’s say you’re at college, and your father told you to sign up for the meal plan. Then the bill arrives, and your father says he doesn’t have the cash. He has credit cards, but he refuses to use them(ie raise the debt ceiling).
If you look at the third date on the list, the annual budget negotiations, there’s where you find the only legitimate time to negotiate the budget. These same Republicans (and Democrats approved the spending last year that now requires the debt limit increase.
I’m all for a healthy debate on spending. It isn’t healthy to threaten our credit rating in exchange for political theater points.
If the Republicans had any real courage they would plan a knock-down, drag-out fight for March 27 during the scheduled time for the bout. Instead they’re hanging outside the title-holder’s gym at midnight with baseball bats.

Jan 17, 2013 9:54pm EST  --  Report as abuse
RSaltyDog wrote:

1) Kicking the can down the road. 2) The delay adds to deficit. 3) Shakes the markets and potential credit rating 4) My party has lost its mind. America has always raised the debt limit and paid our bills. It’s one thing to talk about cuts and quite another to hold the economy hostage and cause damage.

Jan 17, 2013 10:04pm EST  --  Report as abuse
Bruno1996 wrote:

Absolutely pathetic. They caved on the fiscal cliff because they said they’d have more leverage on the debt ceiling, now they say they’ll cave on the debt ceiling and challenge Obama on the budget.

Jan 18, 2013 12:10am EST  --  Report as abuse
xyz2055 wrote:

jphn37..you do realize that Obama has absolutely zero to do with the Budget right? Read page 4 of Ryan’s Path to Prosperity 2013 as a primer. The Budget is strictly between the House and the Senate. The final Budget doesn’t go to presidents for either signature or veto. So the Budget process doesn’t really do much for Republican’s quest to try and hang all debt issues on Obama.

Jan 18, 2013 1:27am EST  --  Report as abuse

The reason for short term solutions by the GOP is to keep the President and the Democrats busy on the Rupubs agenda. Don’t let anything that the President wants go through because he might get credit for finding a solution to the real problems of the country. You can never look outside of your house when the relatives in inside are fighting all the time.

Jan 18, 2013 8:52am EST  --  Report as abuse
uc8tcme wrote:

Looking back over the past 4 years and the GOP problem is their looking for a street fight and Obama is playing chess (and he is 2 or 3 steps ahead of them). The Right Wing can talk about him all they want, but they only can blame themselves. In this case, the GOP has no leverage. 1. Don’t raise the debt limit and they are at fault. 2. Obama can sit back a let the automatic spending cuts go into effect without negotiating and be Ok (because that is what everyone agreed on). 3. There can be negotiations on the Continuing Resolution (on-going budget), still here the GOP will have no leverage because any spending cuts will be offset with tax revenues (and again the GOP will certainly break their tax pledges this time).

So, the last 4 years has gotten us to this point in our economies recovery – the GOP brains must be fried trying to keep up with this guy and Obama has aged 20 years trying to stay ahead of them.

This is what our current political system has turned out to be: a cat and mouse game that no one wins (it would be a great drama only if it was not real life).

Jan 18, 2013 9:31am EST  --  Report as abuse
jaham wrote:

I like the short term increase, especially considering we just blew through $2.1T since the last debt ceiling increase only 18 months ago.

It will allow the GOP to maintain a continued focus on spending cuts and demonstrate Obama’s and the Dems repeated refusal to do what everyone knows is needed.

Jan 18, 2013 10:18am EST  --  Report as abuse
jaham wrote:

Oh, how I wish we had THIS Barrack Obama as President:

“Mr. President, I rise today to talk about America’s debt problem. The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our government’s reckless fiscal policies. Over the past five years, our federal debt has increased by $3.5 trillion to $8.6 trillion. That is ‘‘trillion’’ with a ‘‘T.’’ That is money that we have borrowed from the Social Security trust fund, borrowed from China and Japan, borrowed from American taxpayers. And over the next five years, between now and 2011, the president’s budget will increase the debt by almost another $3.5 trillion. Numbers that large are sometimes hard to understand. Some people may wonder why they matter. Here is why: This year, the federal government will spend $220 billion on interest. That is more money to pay interest on our national debt than we’ll spend on Medicaid and the State Children’s Health Insurance Program. That is more money to pay interest on our debt this year than we will spend on education, homeland security, transportation and veterans benefits combined. It is more money in one year than we are likely to spend to rebuild the devastated gulf coast in a way that honors the best of America. And the cost of our debt is one of the fastest growing expenses in the federal budget. This rising debt is a hidden domestic enemy, robbing our cities and states of critical investments in infrastructure like bridges, ports and levees; robbing our families and our children of critical investments in education and health-care reform; robbing our seniors of the retirement and health security they have counted on. Every dollar we pay in interest is a dollar that is not going to investment in America’s priorities. Instead, interest payments are a significant tax on all Americans — a debt tax that Washington doesn’t want to talk about. If Washington were serious about honest tax relief in this country, we would see an effort to reduce our national debt by returning to responsible fiscal policies. But we are not doing that. Despite repeated efforts by Senators Conrad and Feingold, the Senate continues to reject a return to the commonsense pay-go rules that used to apply. Previously, pay-go rules applied both to increases in mandatory spending and to tax cuts. The Senate had to abide by the commonsense budgeting principle of balancing expenses and revenues. Unfortunately, the principle was abandoned, and now the demands of budget discipline apply only to spending. As a result, tax breaks have not been paid for by reductions in Federal spending, and thus the only way to pay for them has been to increase our deficit to historically high levels and borrow more and more money. Now we have to pay for those tax breaks plus the cost of borrowing for them. Instead of reducing the deficit, as some people claimed, the fiscal policies of this administration and its allies in Congress will add more than $600 million in debt for each of the next five years. That is why I will once again co-sponsor the pay-go amendment and continue to hope that my colleagues will return to a smart rule that has worked in the past and can work again. Our debt also matters internationally. My friend, the ranking member of the Senate Budget Committee, likes to remind us that it took 42 presidents 224 years to run up only $1 trillion of foreign-held debt. This administration did more than that in just five years. Now, there is nothing wrong with borrowing from foreign countries. But we must remember that the more we depend on foreign nations to lend us money, the more our economic security is tied to the whims of foreign leaders whose interests might not be aligned with ours. Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here.’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. 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.”

- Senator Obama , March 16th, 2006

Jan 18, 2013 10:23am EST  --  Report as abuse
pavoter1946 wrote:

I guess for the party of NO, kicking the can down the road substitutes for any pretense of leadership. The result will be the same; the debt ceiling, to pay for programs already authorized, has to be raised.

But meanwhile, there will be turmoil and uncertainty in the financial markets, and America becomes a laughing stock.

Businesses need certainty, and one would think Republicans would at least understand that.

As VP Dick Cheney stated, deficits don’t matter.

Jan 18, 2013 11:03am EST  --  Report as abuse
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