Posts Tagged ‘Deficit’
Friday, January 18th, 2013
A follow-up to The C Word, inspired by House Republicans agree to vote on bill to raise debt limit for 3 months (WashingtonPost.com 1/18/13), Eric Cantor Makes Debt Ceiling Offer (Huffington Post 1/18/13 13:10), and Why Republicans caved on the debt ceiling (Chris Cillizza, WashingtonPost.com 1/18/13 15:32).
“We are going to pursue strategies that will obligate the Senate to finally join the House in confronting the government’s spending problem.” — Speaker John Boehner speech about the new GOP debt ceiling approach “The first step to fixing this problem is to pass a budget that reduces spending. The House has done so, and will again. The Democratic Senate has not passed a budget in almost four years, which is unfair to hardworking taxpayers who expect more from their representatives. That ends this year. We must pay our bills and responsibly budget for our future. Next week, we will authorize a three month temporary debt limit increase to give the Senate and House time to pass a budget. Furthermore, if the Senate or House fails to pass a budget in that time, Members of Congress will not be paid by the American people for failing to do their job. No budget, no pay.” – Eric Cantor statement issued today “The President has made clear that Congress has only two options: pay the bills they have racked up, or fail to do so and put our nation into default. We are encouraged that there are signs that Congressional Republicans may back off their insistence on holding our economy hostage to extract drastic cuts in Medicare, education and programs middle class families depend on. Congress must pay its bills and pass a clean debt limit increase without further delay. And as he has said, the President remains committed to further reducing the deficit in a balanced way.” – White House statement in response to the GOP announcement “This proposal does not relieve the uncertainty faced by small businesses, the markets and the middle class. This is a gimmick unworthy of the challenges we face and the national debate we should be having. The message from the American people is clear: no games, no default.” — House Minority Leader Nancy Pelosi (D-CA) statement “The House Republican plan fails to give American families, small businesses, and economic markets the certainty needed to boost economic growth. This is also a thinly veiled attempt to gain political leverage at the expense of the economy.” – Rep. Chris Van Hollen (D-MD) statement “The Republican proposal for a three-month increase in the debt ceiling does not resolve continuing uncertainty about whether the U.S. will pay its bills. The American economy should not be used as a negotiating tactic for the unbalanced demands of Republicans. Passage of totally unbalanced, partisan and punitive legislation by House Republicans will only add to precarious uncertainty.” — Rep. Sander Levin (D-MI) statement
Speaker Boehner, it’s very nice
That you finally took my advice.
Sure, you went with three months instead of four
(It would have better to have one more).
Blaming the Senate was a nice twist:
It’ll with getting Tea Partiers on board assist.
Dems responded perfectly to what you proposed
(If they liked the plan, the Tea Party would’ve opposed).
Sure, the “no budget no pay” provision is a bit of a gimmick
(Pretend Tea Party leaders still have to their followers mimic).
And Chris: The short-term extension was no GOP cave,
Just a clever way to get the Raucous Caucus to behave.
Boehner’s authority is temporarily reasserted,
And a debt ceiling crisis temporarily averted.
It also makes much more tactical sense
Than maintaining the “we’re-want-to-default” pretense.
All in all, a pretty good move,
The risk of world economic collapse to temporarily remove.