McConnell: ‘The debt ceiling will not be clean anymore’

[cal04]

Ezra Klein
http://www.washingtonpost.com/blogs/ezra-klein/post/mcconnell-the-debt-ceiling-will-not-be-clean-anymore/2011/07/11/gIQAEXDDqI_blog.html


The most honest man in Washington did some more truth-telling on CNBC last night. Speaking to Larry Kudlow, Mitch McConnell made perfectly clear that the hostage situation we just went through wasn’t a one-shot deal. It’s the new normal:

What we have done, Larry, also is set a new template. In the future, any president, this one or another one, when they request us to raise the debt ceiling, it will not be clean anymore. This is just the first step. This, we anticipate, will take us into 2013. Whoever the new president is, is probably going to be asking us to raise the debt ceiling again. Then we will go through the process again and see what we can continue to achieve in connection with these debt ceiling requests of presidents to get our financial house in order.

Previously, I’ve compared the debt ceiling to a bomb ticking away at the base of the economy. We don’t much notice it because it’s always been there and, despite a couple of close calls, it’s never gone off. But that doesn’t mean it won’t ever go off. Particularly if these sorts of showdowns become the norm.

(snip)
Hearing McConnell’s comments last night, economist Jared Bernstein was shocked. “This is not the way of great nations,” he wrote. I disagree. The political system that doesn’t modernize and eventually finds its vulnerabilities exploited by interest-group pressure, internal divisions and reckless politicians? This is certainly the way of great nations. It’s the way they fall.

[Raven]

1. In other words, the full faith and credit of the United States is dead...

as a doornail. Good work Mr. McConnell, good work. You have done your country proud.

I don't think I need to bother with the "sarcasm" icon.

[dana_b]

5. they may as well just downgrade us now

because what other countries want to see/hear us going through this bullshit again - or every year and a half? Fuck!

[BlueCaliDem]

2. Well, if - god forbid - there's another Republican president, it will.

But as long as there's a Democratic President...McConnell is correct.

[Ruby the Liberal]

4. Beat me to it.

How much you wanna bet that the next R president gets a clean vote?

[KittyWampus]

10. Such a good point and I wish like heck someone would throw that in his sickening face.

[Enrique]

3. does Obama still take them at their word?

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x1643894

[proud patriot]

6. The market should be reassured by this ... NOT !

[C_U_L8R]

7. so it will be a crazy rightwing shitshow

every time this country needs to grow or change
or do anything like maybe pass a bill or something

Thanks a f@$kload McChinless.

[KittyWampus]

8. Then we need to get rid of McConnell AND the Debt Ceiling.

[librechik]

9. "WE will hold it hostage at every opportunity as it is a fabulous tool for Republicans

to seize the levers of power and keep them away from the elected majority. Over and over again, since we have set that precedent and it worked like a charm.

[TwilightGardener]

11. Maybe it's good that he's announcing this upfront. Let America know

that this bullshit will never stop as long as Repubs have the House. Turtleman must think average voters enjoyed their little spectacle, and want to see more of it.

[Blue Owl]

12. Ahem, Mitch...

The ceiling is already covered in layers of toxic diarrhea sprayed there by your man George W. Bu$h.

[aquart]

13. This is why one does NOT negotiate with terrorists.

[chill_wind]

14. +1

[pa28]

15. The debt ceiling law could very well be unconstitutional.

It needs to be challenged by a President and sorted out in the courts.

[dreamnightwind]

16. So much for the "businesses need certainty"

argument in order to hire people. They never cared about certainty, or they'd raise the debt ceiling without question.

[boston bean]

17. If this happens to a Republican President you can god damn guarantee the 14th amendment will be

invoked