Boehner Threatens To Take The Debt Limit Hostage Again
Last August, the nation narrowly avoided hitting its debt limit thanks to a last minute deal cut by Congress. House Republicans had threatened to push the country into a default unless Democrats agreed to spending cuts that were larger than the amount of the debt limit increase.
The episode is widely regarded as an embarrassment for good governance and a blow for the economy. Standard & Poor’s, even with the deal, downgraded America’s credit rating, citing the GOP’s complete intransigence regarding revenue increases. But it seems Speaker of the House John Boehner (R-OH) is ready to write the sequel, as he will reportedly demand today that the next increase in the debt limit follow the same GOP criteria:
In a speech Tuesday, House Speaker John A. Boehner (R-Ohio) plans to address the issue of national debt, which will once again be nearing its legal limit in January, just as the tax hikes and spending cuts are due to hit.
According to advance remarks provided to The Post, Boehner will insist that any increase in the debt limit be accompanied by spending “cuts and reforms greater than the debt limit increase” — the same demand that pushed the Treasury to the brink of default during last summer’s debt-limit standoff.
According to the Economic Policy Institute, the cuts demanded by the GOP in exchange for raising the debt limit will cost the economy 1.8 million jobs this year. Treasury Secretary Tim Geithner already pushed back on Boehner’s remarks, saying, “this commitment to meet the obligations of the nation, this commitment to protect the creditworthiness of the country, is a fundamental commitment that you can never call into question or violate.”
http://thinkprogress.org/economy/2012/05/15/484255/boehner-debt-limit-sequel/
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Foolish like a fox, says I! And President Obama can pop up and tell the nation that they worked out a deal in good faith last year that allows him to raise the debt ceiling through to 2013 (Congress was supposed to just be able to register "disapproval" if I remember correctly) and mandated specific spending cuts if the fiscal "Supercommittee" couldn't get the job done (which it didn't). Republicans, of course, are trying to squeeze out of that deal with the Ryan Budget v.2.0. Hopefully, voters can see who's clearly behind this fiscal insanity and vote accordingly.
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They will destroy the American credit rating and the economy so that they can blame the Democratic president in the hope that come 2016 this will resonate with the voters and they can win elections by a landslide mandate. IMHO the President should exercise his executive power under the 14th amendment and unilaterally raise the debt ceiling before the November elections. It will take quite a long time to get to the US SC and the President will look like a hero.
Vote a straight Democratic ballot we must reclaim Congress to save this nation.
I triple-dog DARE you to try this crap again. Even YOU can't be this stupid. Then again, maybe you can.
That's all we need to bear in mind.
They want to make government appear as dysfunctional as they possibly can before November.
If and when they succeed in bogging down the system any more than they already have they
will do what they are best at ... point their fingers and say it wasn't their fault.
