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)
Boehner Prepares to Take the Debt Ceiling Hostage, Again
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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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!
I don't see how the US can last without drastic changes, and better sooner than later.
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.
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.
An ass serves some beneficial function
Whereas the "Boner" does not for 99% of the people.
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!
Look up the Bush/Cheney facts instead of saying its all Obama, its not. Your Fox news redrick holds no interest to me.
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.
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?
I wont give them we are both guilty, Bush deregulated on steroids. Republicans ruined this country.
Democrats are like gangsters who drop people into a pit for the snakes to eat. Republicans are the snakes.
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?
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.
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.
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!
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% !!
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.
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.
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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