House Republicans Plan to Keep Debt Limit but Suspend It Until May [View all]
Source: Washington Post
Forget about raising the federal debt limit. House Republicans are proposing to ignore it altogether -- at least until May 18.
The House plans to vote Wednesday on a measure that would leave the $16.4 trillion debt limit intact but declare that it “shall not apply” from the date the measure passes until mid-May.
This approach -- novel in modern times -- would let Republicans avoid a potentially disastrous fight over the debt limit without actually voting to let the Treasury borrow more money.
The House Ways and Means Committee unveiled the measure Monday; it is scheduled for a hearing in the Rules Committee on Tuesday and to hit the House floor on Wednesday. In addition to postponing a partisan fight over the debt limit, the measure seeks to force Senate Democrats to negotiate over a formal budget resolution by mandating that lawmakers’ paychecks be held in escrow starting April 15 unless Congress adopts a comprehensive framework for spending and tax policy.
Read more: http://www.washingtonpost.com/business/economy/house-republicans-plant-to-keep-debt-limit-but-suspend-it-until-may/2013/01/22/14bc4f3e-64ae-11e2-85f5-a8a9228e55e7_story.html?wpisrc=al_comboPNE_p
Crazy idea:
JUST RAISE THE F-----G THING and stop scaring the crap out of the global markets.
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