Boehner: No debt ceiling increase without cuts -
Repubs, who a few years ago said "Deficits don't matter" are setting up for another ambush of rational governance.... Income Tax rates for individuals and corporations are the lowest in several decades but they won't stand for revenue increases - (even if only to end the Bush Tax cuts for the top 20% - who got half the tax cuts - which helped create this Republican Economic Dystopia)
http://www.usatoday.com/news/washington/story/2012-05-15/boehner-debt-ceiling/54971892/1
His pledge once again sets Congress on a collision course with Senate Democrats and the White House over what was once a routine vote to raise the federal debt ceiling, which allows the U.S. government to continue to pay its bills without the risk of default.
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Last summer, Republicans held to the same standard in a show of brinksmanship that led to an 11th-hour deal, which included a plan to appoint a panel to find $1.2 trillion in deficit reduction. The panel failed to come up with the savings, triggering automatic across-the-board cuts split between defense and non-defense cuts that Congress is currently scrambling to head off before they kick in next January.
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"It is pretty galling for Speaker Boehner to be laying down demands for another debt ceiling agreement when he won't even abide by the last one," said Sen. Charles Schumer, D-N.Y.
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The Magistrate
(95,264 posts)bluestateguy
(44,173 posts)Ignore the debt ceiling, order Geithner to borrow anyway, and then ignore the Supreme Court if they stick their nose in it.
He'd have to go through the motions with impeachment, but the Senate would not have the votes.
julian09
(1,435 posts)even if they are defeated in Nov, they will be obstructing til Jan 2013.
Obama should just let reconciliation take hold and use veto if needed.
Deal with budget with the new congress in 2013
madrchsod
(58,162 posts)and who know the dems could take back the house and the boner would be up the creek.
brooklynite
(94,913 posts)...when the sequestrations hit, there'll be plenty of military spending cuts.