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Garofalo reports: "In a speech Tuesday, House Speaker John A. Boehner (R-Ohio) plans to address the issue of national debt, which will once again be nearing its legal limit in January, just as the tax hikes and spending cuts are due to hit."

Speaker of the House John Boehner holds his weekly news conference in the Capitol Visitors Center, 04/18/12. (photo: Chip Somodevilla/Getty Images)
Speaker of the House John Boehner holds his weekly news conference in the Capitol Visitors Center, 04/18/12. (photo: Chip Somodevilla/Getty Images)



Boehner Prepares to Take the Debt Ceiling Hostage, Again

By Pat Garofalo, ThinkProgress

20 May 12

 

ast August, the nation narrowly avoided hitting its debt limit thanks to a last minute deal cut by Congress. House Republicans had threatened to push the country into a default unless Democrats agreed to spending cuts that were larger than the amount of the debt limit increase.

The episode is widely regarded as an embarrassment for good governance and a blow for the economy. Standard & Poor's, even with the deal, downgraded America's credit rating, citing the GOP's complete intransigence regarding revenue increases. But it seems Speaker of the House John Boehner (R-OH) is ready to write the sequel, as he will reportedly demand today that the next increase in the debt limit follow the same GOP criteria:

In a speech Tuesday, House Speaker John A. Boehner (R-Ohio) plans to address the issue of national debt, which will once again be nearing its legal limit in January, just as the tax hikes and spending cuts are due to hit.

According to advance remarks provided to The Post, Boehner will insist that any increase in the debt limit be accompanied by spending "cuts and reforms greater than the debt limit increase" - the same demand that pushed the Treasury to the brink of default during last summer's debt-limit standoff.

According to the Economic Policy Institute, the cuts demanded by the GOP in exchange for raising the debt limit will cost the economy 1.8 million jobs this year. Treasury Secretary Tim Geithner already pushed back on Boehner's remarks, saying, "this commitment to meet the obligations of the nation, this commitment to protect the creditworthiness of the country, is a fundamental commitment that you can never call into question or violate."

 

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+17 # bluepilgrim 2012-05-20 12:56
Let the US default. Bring it to a crisis. The best solution for vampires is to expose them to bright sunlight. If these bums are going to destroy the country at least make them do it in broad daylight. Start off with defaulting on military contracts.
 
 
+4 # RLF 2012-05-21 03:47
This is correct. The only way this works is for Obama to want the cuts. Business will come down on any politician that suggests default. Collapse of the world economy will hurt the rich more than anyone!
 
 
+2 # John Locke 2012-05-21 07:00
If Obama is still president? he will cave in as he always does and sell us out to the republicans his track record isn't very good...

Meanwhile more Americans are getting fed up with the two controlled parties...

Monday, May 21, 2012

The Rasmussen Reports daily Presidential Tracking Poll for Monday shows President Obama earning 47% of the vote and Mitt Romney attracting 44% support. Five percent (5%) would vote for a third party candidate, while another five percent (5%) are undecided.

if we had only got behind a third party we may have had a chance!
 
 
0 # John Locke 2012-05-21 06:56
You are correct...We should allow a default and let the people decide what is correct
 
 
+3 # rockieball 2012-05-21 08:49
Boehner is doing this because he just might be seeing the writing on the wall. Obama reelected and loss of control of the house because of their belligerent actions in saying no to everything proposed even when it's their proposal.
 
 
+19 # pernsey 2012-05-20 13:04
The "Boner" is such an ass!!
 
 
+13 # bluepilgrim 2012-05-20 13:18
Just by this talk he has reduced confidence in the US and made it less likely for people and nations to buy US debt. This 'austerity' nonsense is deadly to the economy -- and in the meantime more money goes to the rich.

I don't see how the US can last without drastic changes, and better sooner than later.
 
 
-3 # jlohman 2012-05-20 22:30
And we wonder why O gets nothing done?
 
 
+19 # universlman 2012-05-20 13:07
The GOP deny that their "leadership" had any part of getting us into this mess.

This is another example of their various angry wars against science, the middle class, women, the media, Obama and common sense in general. They are blind to any destructive results of their various empty clumsy crusades.

Next time around, rather than vetting by the churches, I want to see IQ scores for the GOP.
 
 
+13 # pernsey 2012-05-20 17:39
They dont care if the country goes down the drain. They will say this happened under the Obama administration, I say its happened and is the sole responsibility of the Teabag/republic ans...I hope people are smart and vote all of them OUT!

The "Boner" has to go, him and all his obstructionist friends. He wasnt worried about all this BS when Bush raised the debt ceiling tons of times, now all of the sudden its an issue...as I stated earlier he is an ass.
 
 
+5 # pres 2012-05-20 22:53
You stated "he is an ass" and I disagree!
An ass serves some beneficial function
Whereas the "Boner" does not for 99% of the people.
 
 
-6 # hookemhigh 2012-05-20 23:05
In case you haven't noticed, I think the debt is a little more than it was a few years ago......like trillions more...it does make one pause or should. And under Bush and others in the past, we still had a spending problem. But hey don't worry, it will work its way out. I would say though that we have gone way past compromise with the debt thing.
 
 
+6 # pernsey 2012-05-21 06:24
Quoting hookemhigh:
In case you haven't noticed, I think the debt is a little more than it was a few years ago......like trillions more...it does make one pause or should. And under Bush and others in the past, we still had a spending problem. But hey don't worry, it will work its way out. I would say though that we have gone way past compromise with the debt thing.


Thanks to Bush and his 8 years of blunder, we are in a financial mess. I find it quite interesting what this conversation would look like if the Dems would have pulled this crap on Bush? Hmmm might not be so concerned about anything but how the Dems were out to ruin the country. You cant have it both ways, the republicans are wrong...PERIOD!
 
 
-15 # Robt Eagle 2012-05-21 10:19
pernsey, WOAH!!! We are under Obama's watch now, for over three and a half years. No, it isn't GW Bush's watch any longer...and the Dems controlled both houses in 2007 through 2010, so it IS under Obama's watch that this catastrophe is playing out. The debt is nearing 16 trillion and climbing faster and faster...under Obama's watch! So stop blaming Baynor, he is trying to protect America from the horrendous policies under the Obama administration. But who cares if we drown in debt, you can always blame on the Republicans, under Obama's watchful eye!
 
 
+5 # pernsey 2012-05-21 15:22
Robt I blame this whole economic disaster on Busyh/Cheney, whatever your propaganda blah blah blah is Im not interested. Just because you keep saying it dont make it so.

Look up the Bush/Cheney facts instead of saying its all Obama, its not. Your Fox news redrick holds no interest to me.
 
 
+5 # BradFromSalem 2012-05-21 15:35
RobtEagle,

If the Republican want to continue blaming Obama, then stop intentionally walking him, and then complain that he didn't hit a home run. When has the Republican members of Congress actually compromised on an Obama proposal instead of either filibustering it or holding it hostage to some whack-a-doodle idea of lowering taxes.

Tell me, how low is too low? How do you know we have gone below the safety limit on reducing taxes? Why is that cutting anything that helps poor and middle class Americans is responsible fiscal policy, but extending our killing capacity and decreasing taxes on corporations that pay less than the poor is not? Did you and your fellow travelers know that cutting entitlements to the poor and middle class amounts to a tax increase on them? I bet you did not. Oh and Boner's name is spelled Boehner.
 
 
+2 # RLF 2012-05-21 03:52
Both parties created this mess. Maybe Clinton more than any of them by getting rid of banking regulations.
 
 
+4 # pernsey 2012-05-21 06:22
Quoting RLF:
Both parties created this mess. Maybe Clinton more than any of them by getting rid of banking regulations.


Whatever Clinton did, Bush put it on steroids. What Clinton did was minor compared to Bush. Bush/Cheney deregulated everything and it tanked the whole economy in 2008 while Bush was still president. He gave trillions to the banks, man you people got bad memories when its not in your favor. Bush...Bush who? Eight years of hell and you dont seem to be able to remember it?

Now Obama is left with Bush's mess...but republicans cant seem to remember who he is?
 
 
+1 # pernsey 2012-05-21 15:18
Quoting RLF:
Both parties created this mess. Maybe Clinton more than any of them by getting rid of banking regulations.


I wont give them we are both guilty, Bush deregulated on steroids. Republicans ruined this country.
 
 
0 # bluepilgrim 2012-05-21 17:10
Try this out:

Democrats are like gangsters who drop people into a pit for the snakes to eat. Republicans are the snakes.
 
 
-5 # Robt Eagle 2012-05-22 09:04
Clinton did a lot, but GW Bush and Greenspan were warning Congress for a long time about Fannie and Freddie and their bad practices, but Barney Frank and Christopher Dodd were touting how solid Fannie and Freddie were, while they were over extending the motgage/banking system and approving of those tactics. Come on, the Dems wanted more votes by giving away housing to the poor who could ill afford it. Why do you think Frank and Dodd retired so quickly?
 
 
+3 # BradFromSalem 2012-05-22 13:42
Typical.

Blaming the result not the cause. Fannie and Freddie got into hot water because they were more or less pushed to a me to position in backing the bad loans. Bush was not warning about the oncoming disaster to the economy, that is a myth created by Fox and friends. There have been numerous examples of programs that gave mortgages to the poor with failure rates equivalent to other economic groups. The problem was with banks making stuff up. Its called lying, Fannie and Freddie just got caught up in the rush and failed to check the docs. Please stop blaming the victims, it makes you look like a very cruel person. Are you?
 
 
-5 # Robt Eagle 2012-05-23 13:04
Your assessment is nuts. Go read "Reckless Endangerment" by Gretchen Morgenson and then comment. Frank and Dodd, all the regulators, and the rating agencies, who failed to do their jobs should all be in jail.
 
 
+5 # PABLO DIABLO 2012-05-20 21:41
Just watch, if the Republicans get back in power, they will start spending again. Make sure that doesn't happen by voting them out.
 
 
+2 # John Locke 2012-05-21 07:03
PABLO, Why? spending is what we need, the sad part it will all be for the 1% and military hardware and to watch us!
 
 
+4 # Regina 2012-05-20 21:50
But in January the House is "new" -- of course, the timing is critical, with the inauguration due on 1/20 and technically a new Congress. Boehner could still pull off his wreckage before the 20th if no further delay is possible. Under any circumstances, we must (1) reelect President Obama; (2) elect a Democratic majority in both houses; (3) get the Senate on its first day to change the filibuster rules. We must literally override the entrenched NOes that have plagued us for this entire term. The alternative would be fatal.
 
 
+1 # John Locke 2012-05-21 07:06
Regina: and you honestly believe that will make a difference, we are on a road to Perdition and both parties are guiding us there
 
 
0 # bluepilgrim 2012-05-21 08:46
Yes, but at least if the democrats have complete control of everything then THOSE vampires would be in the sunlight -- this time without the excuse of nt having a super-majority as in the first two years of the Obama administration, so often thrown up as a lame excuse.

I guess some other excuse would surface then, as always happens when the abused has not yet decided to stop enabling the abuser, and walk out to build a decent life on one's own.
 
 
+2 # Chuck H. 2012-05-20 22:22
The Republicans are going to shower us with rhetoric that Obama is not leading us out of the economic problems that they caused during the Bush years. The reason why Obama does not appear to be a leader is that the Republicans are following through on their main objective...to prevent an Obama 2nd term. How can he lead if he is blocked on everygthing he proposes, including Republican ideas and plans? I propose that 90% of our problems lie at the Republicans feet.
 
 
-3 # John Locke 2012-05-21 07:07
Chuck: I disagree, Obama is not a leader, he is a follower, just follow Wall Street money into his campaign
 
 
+2 # jcdav 2012-05-21 03:24
Gee austerity works well, look at UK and the poster child Greece...take a hint from Willie Sutton- go where the money is-TAX THE RICH! They got rich on the unconstitutiona l wars and bloated military and Wall Street gamblers and everyone elses money. The 3 branches of gvt are bought and paid for..massive protest (now largely illegal) MIGHT get some FDR style relief but it looks pretty grim...
 
 
+1 # John Locke 2012-05-21 07:08
jcdav: actually all four branches of Government are bought and paid for the Media is the fourth estate!
 
 
+1 # 666 2012-05-21 03:48
they should all be impeached for violating their oaths of office... again, it ain't gonna happen. besides if the mitwit gets elected, this will be the gop platform.
 
 
+2 # bingers 2012-05-21 04:52
So Bush doubled the debt and now his people don't want to pay for what they did? What the 'pubs don't want you to know is that a large part of Obama's debt has gone to pay for Bush's spending.
 
 
+4 # BradFromSalem 2012-05-21 05:50
My Republican friends scoff at me when I explain that nothing gets done because of the Congressional Republicans. My apolitical and centrist friends insist, that both sides are at fault. That they cannot come to an agreement.

Being a double Libra, I try to balance my response in both cases. I try to explain that there is plenty of common ground and we should just agree to those things first, then work on settling the stuff that is left over.

I will no longer in any way shape or form defend insanity. The Republican Party is totally and irreversibly mad.

As total dunce that dropped out of college due to bad grades, even I have come to understand that raising the debt limit does not add to the debt. Didn't most of these Republican clowns in Congress get their Bachelor's degree. Why don't they know this simple fact?

The bottom line is that this is a transparent ploy that they are using to make the US look bad to its own citizens. When a political party is that desparate to obtain power, that they will tear down exactly what they are supposed to protect; they are insane. When they will do that and not have a rebuilding plan (I haven't heard one, have you?) they are totally insane. Insane can be a tool to create, totally insane is dangerous.

Long live the insane, Down with the Totally Insane.

NEVER VOTE REPUBLICAN!
Unless you are totally insane.
 
 
-3 # John Locke 2012-05-21 07:10
That also goes for the democrate!
 
 
+2 # bluepilgrim 2012-05-21 08:49
The purpose of freezing the debt limit is to take more money from the working class.
 
 
0 # BradFromSalem 2012-05-21 10:05
Bluepilgrim,

Do you really think Speaker Boner (sic)would sink that low? That he would advocate a policy that diminishes my meager accumulations so to divert into the already full pockets of those in the 1%? Perish the thought, he took a vow to defend the Constitution, and under the authority of that document, thievery has been outlawed; everywhere. John Boner has way too much integrity for that!
 
 
0 # bluepilgrim 2012-05-21 11:01
Not sink that low, but rise to the occasion to think about anyone besides himself, even the 1%, methinks. If these rotten politicians could eat the rich who they now serve they would do it in a flash, and consider themselves honorable for it.
 
 
+1 # hkatzman 2012-05-21 06:30
Debt limits are a political contrivance to check spending when the bills come in and not when the services are actually bought. Politicizing the debt ceiling will not change government spending, but is another way to give a gift to the banksters.

At the end of any new "debt crisis", like the previous one, a new spending agreement will be put in place (that will promptly be ignored) and the government will continue to pay its bills.

BUT WHAT WILL BE THE DIFFERENCE? Standard and Poors, or some other rating service, will downgrade the US government credit rating raising the interest rates that investors will insist upon for investing in US government debt. Basically, government debt will notch up because of the need to pay higher interest rates, while investors (banksters) will reap higher profits for loans to the government.

The political contest becomes a distraction for actually sending more profits to investors. Leave it to the Republicans to find a new way to help the 1% to the detriment of the 99% !!
 
 
+1 # BradFromSalem 2012-05-21 12:10
Only since the Tea Party got involved. Before that it was mostly a procedural vote with an occasional grandstand by a handful of politicians. The Tea party has made it into a Twisted Tea. You know what happens when you drink a lot of Twisted Tea? You get drunk and stupid. The Tea party acts like a bunch of stupid drunks.
 
 
+2 # mari 2012-05-21 12:42
Robt Eagle
No doubt you know the definition of the word inherence. When Mr. Bush left office the country and the President became benefactors of this great legacy (debt) Bush left us along with the inheritance taxes on this great debacle.
 
 
0 # jack406 2012-05-21 16:25
Why don't we make the Republican Spending Cuts in the Tea Party Districts and States.
That might just change their minds.

And President Obama has some leeway on where he makes cuts if he has the courage to use it.
 
 
+2 # James38 2012-05-21 16:59
Boehner is a dinosaur. The whole idea of restricting spending in a time of recession will drive the country further into depression. This is established fact, and is what is causing the worsening problem with Greece and Spain and Italy.

The idea of "austerity" is a catch phrase for transferring wealth to the rich from the people in general. It has nothing to do with "balancing the budget". That is another piece of the same propaganda. While a balanced budget is obviously a long-term necessity, in the shorter term demanding constant budget balance is just an arbitrary restriction that can make it impossible to adjust for changing circumstances. The people, meaning the middle class and the poor, are the ones who suffer.

The rest of the propaganda that Boehner and the rest of the hyper-conservat ives and teabaggers are caught up in is the useless and unproductive idea that cutting taxes on the rich will create jobs. Nonsense. It didn't work under Bush, it didn't work under Reagan, and it will never work. Cutting taxes on the rich makes the rich richer. That is all it does.

Then, in order to make the rich richer, services such as education and health care have to be cut, pensions and social security are reduced, and society goes downhill. The rich, and Boehner, don't care. This is why we need to re-elect Obama and get rid of Boehner.
 

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