Boehner Threatens To Take The Debt Limit Hostage Again

[Galraedia]

Source: ThinkProgress

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.

Read more: http://thinkprogress.org/economy/2012/05/15/484255/boehner-debt-limit-sequel/

[unblock]

1. but this time we don't need a deal.

the automatic sequestration would be painful for all, and bad policy all around, but it allows obama to say no, to threaten to veto, and generally to not accept crap from republicans.

whatever deal emerges is very likely to be much more favorable to democrats (although of course it still won't be nearly progressive enough).

[xtraxritical]

14. If the President gets a second term he will certainly use the 14th amendment clause.

[Roland99]

2. I am Jack's complete lack of surprise

[Angry Dragon]

3. The weeping boner is a limp leader

[truebrit71]

4. That's a really good idea you dipshit...shutdown the govt in an election year...

...thank goodness you are too stupid to read history and understand what happened the last time a dumbass rethuglican Speaker of the House forced a shutdown....

[PatrynXX]

10. although will it postpone the election?

hard to carry out an election and registration of voters without the govt. this is running like a non violent civil war. lets hope Obama's great at chess. (or wizards chess)

[freshwest]

5. This was expected. And will hit before the election, and it will effect it. How, IDK.

[tk2kewl]

6. perfect opportunity to showcase the fact that they reneged on last years deal

asswipe!

[Vincardog]

7. The Democrats should insist that the Rich pay increased taxes = 2 X any DL increase.

We should start by demanding the top tax rate be raised to 75% of everything over $1M from any source.
Then compromise to let them pay SS on all income (and estates over $1M) and a top marginal rate of only 60%

[zipplewrath]

8. It Presumes he wins

He is talking as if he will be speaker in January. He could be trying to pull this off as a lame duck speaker. At worse he might be trying this crap with a lame duck congress, of whom many got their butts kicked for just this kind of crap. There might not be nearly the enthusiasm for stupid governance by then.

[yellowcanine]

9. He could be the lame duck speaker even if Repubs hang on to the House.

I am guessing his ass is grass either way - Dems win or Repubs barely hang on. Only way he gets back in as Speaker imo would be if the Repubs make gains.

[dotymed]

11. It really is "us" against the very

few, "them." If we can come together in SOLIDARITY and deal with these greedy bastards, we can end all of this bullshit.

Even when we have "growth in our GDP," it still counts, even though the wealthiest 1/2 of 1% receive over 90% of the profits realized from the "growth." That is an amazingly sick way of calculating "our" country's prosperity. WE, the majority of Americans do not realize any of that increase in GDP.
Even though our economy may grow and increase profits by a few billion dollars, the average American does not realize any extra money. In the mind of any rational person, the FACT that the wealthiest .05% increase their wealth at the expense of everyone else in America, yet austerity will be (if the GOP has it's way) imposed on the rest of us, is unacceptable.
This is happening world-wide and a few countries in South America and now in Europe are saying "no more." They are opting out of the class hegemony and actually serving their majorities. That would be a novel (in the last few decades) approach for America.
Capitalism, in it's current incarnation is a weapon of mass destruction. The GOP and many corporate owned Democrats love this "new" incarnation of capitalism.
Unless we end it now, we will all be serfs to the 1/2 of 1%. We already are, it is just getting worse.
The World Bank, the IMF and wall-street have been implementing this policy since the realization that nuclear hegemony could no longer be realistically implemented.
Please, every American (because most other nations have had to deal with this since post WWII) needs to read "Confessions of an Economic Hit Man" and open their eyes. It was published in 2004 and the stated goals of these (govt. employed, corporate paid) EHM have been playing out exactly in the stated order of countries, and the exact increased profits of specific U.S. corporations as was written in 2004. Read the book. It is like going back in time, finding out who the economic winners are and which country's citizens have been forced to suffer economically, exactly as planned by corporate and government "players," decades ago.
It really scares the hell out of me.
The information is there and in the exact order that it is happening. Just like PNAC, it is irrefutable and sinister as hell.

[Major Hogwash]

12. This will cost Boehner his seat in the House this fall.

There is no way that Boehner can expect to be reelected by holding America hostage every time the debt ceiling has to be raised in order to pay the country's bills.

[BadgerKid]

13. Boehner is the 'baggers American hero.

*sigh*

[Drunken Irishman]

15. Boehner realizes this is the Republicans' best chance to win in November...

It's a scorched earth policy, so, it's really risky, but it also could deliver them the WH and essentially end the Obama White House. The last time we went through this mess, Obama's approval ratings took a hit right along with congresses (while in the head-to-head with Romney, he trailed for the first time) & the economy sputtered into a slow growth that pushed the fear we were going to slip into a recession. That's exactly what Boehner wants - he wants to create a mess later this year and hope it brings down Obama's poll numbers just as it did a year ago. Bring the economy to its knees again.

I don't know if it'll work. But had the election been held last year, it would have. So, why not try it again? What do they have to lose? If it doesn't pan out, okay, Obama wins reelection - but they've got to try something. Their options are limited and this nuking, though while it will prove drastic for congress, could be enough to shift the race in Romney's favor. You know, it's no coincidence Obama's approval tanked right along with the economy last year during these talks. The Republicans know exactly what they're doing.

[cstanleytech]

16. Just me or do their (republicans in washington) actions seem more like the act of terrorists?

After all there is a history of terrorists taking hostages and making threats and in this case the hostage is about 99% of the american people.