Wed Jan 23, 2013, 01:58 PM
michigandem58 (1,044 posts)
House votes to suspend debt limit
Source: Washington Post
A measure to suspend the nationís legal limit on borrowing for nearly four months cleared a key vote in the House Wednesday, as Republicans broadly endorsed a new tactic that would temporarily remove the threat of a potentially calamitous government default from their ongoing fight with Democrats over government spending.
The measure, which would set aside the legal debt ceiling and allow the government to borrow as needed to meet spending obligations through May 18, was adopted on a 285 to 144 vote.
Just before the vote, Democratic leaders in the Senate said they would accept the House measure without changes and a Senate vote is expected as soon as next week. And the White House, too, has said President Obama will not stand in the way of the bill.
Read more: http://www.washingtonpost.com/politics/hold-house-votes-to-suspend-debt-limit/2013/01/23/58f2013c-6574-11e2-85f5-a8a9228e55e7_story.html
9 replies, 1349 views
House votes to suspend debt limit (Original post)
|Spitfire of ATJ||Jan 2013||#2|
|Spitfire of ATJ||Jan 2013||#5|
|Spitfire of ATJ||Jan 2013||#8|
Response to ieoeja (Reply #7)
Wed Jan 23, 2013, 04:35 PM
merrily (7,433 posts)
9. For one thing, the Republicans did it and Obama said he didn't want it.
The more time they have to convince Americans, with the help of their media partners, that their way is the correct way, the harder the politics of this will be.
And the more time they have to negotiate with Obama, the less likely it is that he will stand firm, especially if they get the media to be on his case 24/7.
I may not have hit everything, but you just know they did not extend the deadline because they thought it would hurt them and help us.
Response to Spitfire of ATJ (Reply #5)
Wed Jan 23, 2013, 02:53 PM
merrily (7,433 posts)
6. Ah, thanks. I was not sure what you were getting at.
Now that I know, I agree with you.
Then again, going with "Republicans are full of crap when they say......." is usually a good bet, no matter how one completes that sentence. Gotta play the odds on that one.
Response to merrily (Reply #6)
Wed Jan 23, 2013, 04:32 PM
Spitfire of ATJ (17,042 posts)
8. Want to hear a real kicker?...
When the Stock Market crashed a lot of investors ran to the security of the Bond Market.
When they did, it pulled money out of the private sector and increased the National Debt as far as FUTURE debt as those bonds have a set value based on a given date.
The Bond Market is a COMPETITOR of the Stock Market.
The Republicans constantly denigrate bonds as "IOUs" and constantly imply the country is "broke" to make it sound like those bonds will be worthless. They want to lure those investors back into the Stock Market so they can be ripped off by their friends on Wall Street.