Wed Nov 28, 2012, 01:03 AM
TomCADem (8,611 posts)
Durbin: Debt Limit Hike Will Have To Be Part Of Budget Deal
Source: Talking Points Memo
Implicitly responding to House Speaker John Boehner’s warning to President Obama that raising the nation’s debt ceiling will come with “a price,” a top Senate Democrat said Tuesday that an increase in borrowing authority will have to be part of whatever package Congress and the White House settle on to avert automatic spending cuts and tax increases at the end of the year.
“I think honestly it’s going to be closer to $4 trillion when it’s all said and done, and I also think that the President isn’t going to sign off on any agreement that doesn’t include some certainty as to budgets, appropriations, dealing with our debt ceiling,” Senate Democratic Whip Dick Durbin (D-IL) said after a policy speech at the liberal Center for American Progress. “We’re not going to find ourselves at some big party celebrating in February and then turn around in March and have another doomsday scenario with the debt ceiling. We’ve got to get this done as one big package.”
The latest dustup over the debt limit isn’t necessarily a harbinger of a new hostage fight over the country’s creditworthiness. But it at least suggests that Boehner is using the need to raise the debt ceiling in the coming weeks to offset the leverage the expiring Bush tax cuts provides Obama.
The White House has insisted in the past that it won’t enter new brinksmanship with Congressional Republicans even if the debt limit isn’t raised as part of a bipartisan legislative package. But Democrats would clearly prefer to take that issue out of the equation as they negotiate a way to avoid automatic austerity in January — and for now, Boehner won’t let them.
Read more: http://tpmdc.talkingpointsmemo.com/2012/11/durbin-debt-limit-hike-will-have-to-be-part-of-budget-deal.php
I think Democrats assumed that House Republicans would not be crazy enough to intentiinally cause a default on the federal debt in order to renege on earlier deals made to pass a budget. Well, now that Republicans have revealed that they are indeed willing to not only hold middle class tax cuts hostage, but are willing to cause a federal default, the Democrats absolutely need to insist on increase on the debt ceiling being a part of any budget deal.
2 replies, 1348 views
Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Durbin: Debt Limit Hike Will Have To Be Part Of Budget Deal (Original post)
Response to TomCADem (Original post)
Wed Nov 28, 2012, 01:48 AM
Volaris (3,337 posts)
1. pffffff I DARE Mr. Speaker to not raise the Debt Ceiling...
The result will be the total obliteration of the GOP as a force in American politics...
America's response to this action will be something akin to Emperor Palpatine telling Luke Skywalker that Yeah, the Deflector Shield still works, actually, you can watch me pulverize your little (TeaParty) rebellion Live and in realtime...no really, stay and WATCH, it will be fun.....