Tag: federal debt ceiling

Found on Facebook, courtesy of Robert Reich. “I would dispel the rumor that is going around that you hear on every newscast, that if we don’t raise the debt ceiling, we will default on our debt,” says Sen. Tom Coburn, R-Okla. “We won’t. We’ll continue to pay our interest.” This…

Monday: House of Representatives passes debt ceiling increase/austerity package. Tuesday: U.S. Senate passes debt ceiling increase/austerity package into law, President Obama signs it. Stock market dips over 200 points. Thursday: Stock market plunges down over 500 points. I’m sure it’s all just coincidental.

To say the vote in the House earlier this week to approve the debt ceiling capitulation legislation was highly publicized and scrutinized would be an understatement. After Speaker John Boehner’s own debt ceiling legislation passed the House by a narrow margin and was promptly killed in the U.S. Senate, lawmakers…

First let’s start with a quote from Robert Reich, Secretary of Labor under President Bill Clinton: Anyone who characterizes the deal between the President, Democratic, and Republican leaders as a victory for the American people over partisanship understands neither economics nor politics. The deal does not raise taxes on America’s…

Last night President Barack Obama announced Democrats and Republicans in Congress have reached an agreement on a plan to raise the federal debt ceiling, an agreement that comes just days before our government was going to reach the debt limit and risk defaulting on the nation’s debts. According to the…

After the United States Senate voted to effectively kill House Speaker John Boehner’s debt ceiling legislation – a gimmicky proposal that tied increases in the debt ceiling to Congress sending the states a balanced budget amendment – the U.S. Senate is left to pick up the pieces of Boehner’s debacle…

Has Republican Speaker John Boehner lost control of the Republican majority in the House of Representatives? I think that’s a question worth asking, especially in the face of reports Speaker Boehner is having difficulty getting enough Republican votes to pass his debt limit legislation. The endgame at hand, House Republicans…

Listen to what former Republican President Ronald Reagan, the patron saint of conservatives, has to say about the propensity of Congress for bringing the government “to the edge of default before facing its responsibility.” Ronald Reagan’s comments in 1987 about Congress could certainly be applied to today’s Congressional Republicans.

The debate over the federal debt ceiling has been big news this week. While President Barack Obama wants to make a broad deficit reduction deal, including trillions of dollars in spending cuts to Medicare and Social Security, Congressional Republicans have been unwilling to compromise on raising revenue through tax increases…

Holding raising the debt ceiling hostage to force additional budget cuts is ridiculous. You want budget cuts, come to the table and lets work on them. But up until know every Rep and Sen was complicit in one way or another for the national debt…you knew what it was going…