Tag Archives: United States public debt

WILL OUR LEADERS WASTE TIME UNTIL THE DEBT CEILING DEADLINE? 1

Barack Obama, DEMOCRATS, economic justice, ECONOMY, FINANCIAL SYSTEM, HOMELAND SECURITY, JUSTICE IN GOVERNANCE, Politics, REPUBLICANS, TEA PARTY • Tags: , , , , , , ,

VERTICAL 1

CONGRESS MUST PASS A BILL

TO RAISE THE DEBT CEILING

AND

THE PRESIDENT MUST SIGN IT

BY MAY 19, 2012.

 WILL THEY WAIT UNTIL THE DEADLINE

TO BEGIN NEGOTIATIONS?  BUSINESS AS USUAL?

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MR. PRESIDENT, YOU HAVE ENJOYED YOUR KINDER,

GENTLE PRESIDENCY.  NOW WE WANT AND NEED

A LION IN THE WHITE HOUSE. ROAR! BARE YOUR CLAWS!

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SENATOR REID. WE NEED YOU

TO CHANNEL THE GLADIATORS IN OLD ROME

AND FIGHT FOR US!

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SENATOR McCONNELL, WE HAVE ENDURED

YOUR FAILED WAR ON PRESIDENT OBAMA.

 YOUR NATION NEEDS YOU

TO GRIN AND BEAR IT AND

WORK WITH SENATOR REID

TO NEGOTIATE A DEBT CEILING BILL

WITH THE HOUSE.

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SPEAKER BOEHNER, “NO MORE TEARS. ENOUGH IS ENOUGH!”

 YOUR COUNTRY NEEDS YOU TO LEAD THE HOUSE

IN ARRIVING AT A DEBT CEILING BILL THAT

WILL PASS THE SENATE OR A CONFERENCE COMMITTEE.

 YOU CAN DO IT, IF YOU TRY.

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LEADER CANTOR, YOU WORK BEHIND THE SCENE.

 NOW IT THE TIME!  YOUR COUNTRY NEEDS YOU

TO MARTIAL THE TEA PARTY FACTION

TO BE A BODY OF ONE

IN ARRIVING AT A DEBT CEILING BILL WITH THE SPEAKER.

 BE THE PATRIOT WE KNOW YOU CAN BE.

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GENTLEMEN, YOUR NATION IS WATCHING AND

WAITING FOR YOU TO ACT!

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PRESIDENT OBAMA SIGNS “NO BUDGET, NO PAY”

2014 ELECTION, BUSINESS, Congress, DEMOCRATS, economic justice, John Boehner, MEDICAID, MEDICARE, Politics, REPUBLICANS, Sen. Mitch McConnell, Senator Harry Reid • Tags: , , , , , , ,

OBAMA SIGNS NO BUDGET, NO PAY: After passing in the House and the Senate, President Barack Obama has signed No Budget, No Pay into law. This is HUGE! Not only is it another step toward accountability in Washington, but it’s also proof of what No Labels is capable of. In just a year our proposal has gone from a great idea to a great law — and our “little engine that could” is still chugging: Donovan Slack for POLITICO: Obama signs debt-ceiling bill

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“White House: Obama won’t veto GOP short-term debt limit plan”

2014 ELECTION, Barack Obama, Congress, Democracy, economic justice, John Boehner, JUSTICE IN GOVERNANCE, Mitch McConnell, Politics, REPUBLICANS • Tags: , , , , , , ,

CBS NEWS

The White House said today that President Obama would not veto a House Republican plan to suspend the debt limit for three months, even though the president thinks a temporary solution is far from ideal.

“The Administration would not oppose a short-term solution to the debt limit and looks forward to continuing to work with both the House and the Senate to increase certainty and stability for the economy,” the White House said in an official statement of policy released today.

The House plans to vote tomorrow on a bill to suspend the nation’s $16.4 trillion debt limit until mid-May, giving Congress more time to negotiate over the limit. The bill would also require the House and Senate to pass a budget. If either chamber failed to pass a budget, according to this proposal, their congressional salaries would be withheld.

“All we’re saying is, if the president and the Senate, if this country needs to incur more debt, Senate, please show us your plan to repay that debt, please show us your plan to control spending,” House Majority Leader Eric Cantor, R-Va., said this evening.  FULL  ARTICLE

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“House Republicans to vote next week on three-month extension of debt ceiling” 1

Politics • Tags: , , , , , , ,

CNN

Posted by

Williamsburg, Virginia (CNN) – While at a GOP retreat, House Republican leaders on Friday announced a vote next week on a three-month extension of the debt limit, with a requirement that both chambers pass a budget or else go without pay.

The added condition to the short term extension bill aims to force the Democratic-led Senate to pass a budget–something the upper chamber hasn’t done in four years.  FULL  ARTICLE

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“President vows not to negotiate on debt ceiling”

Barack Obama, Congress, economic justice, FINANCIAL SYSTEM, JUSTICE IN GOVERNANCE, Politics, PostAday, Sen. Mitch McConnell, Senator Harry Reid, Taxes • Tags: , , , , , , ,

YAHOO NEWS

“After Congress’ narrow dodge of the fiscal cliff, Washington isn’t exactly breathing easy.

Major fiscal fights remain for the coming session and President Barack Obama has signaled his unwillingness to put Americans through another drawn-out battle over the nation’s debt limit, which Congress will vote on this term.

“While I will negotiate over many things, I will not have another debate with this Congress over whether or not they should pay the bills that they’ve already racked up through the laws that they passed,” the president said late Tuesday night after the fiscal cliff compromise.

The nation hit the debt ceiling limit on Monday.

Republicans have pushed back against raising the debt limit in past years, and this time around they’re expected to use the fiscal cliff negotiations as leverage to press Democrats to compromise on spending cuts.

“I hope Republicans will fight as hard on the debt ceiling as Barack Obama did on tax rates,” Sen. Lindsey Graham, R-S.C., said on Monday during an appearance on Fox News.

Congress will also be pushed in the coming session to address the deficit reduction and other fiscal measures the fiscal cliff deal failed to include.”

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“14th Amendment Option: Nancy Pelosi Urges Obama To ‘Just Go Do It’ “

Barack Obama, BUSINESS, Congress, economic justice, FINANCIAL SYSTEM, HOMELAND SECURITY, JUSTICE IN GOVERNANCE, Politics, PostAday, US Finance • Tags: , , , , , , ,

WASHINGTON — House Minority Leader Nancy Pelosi (D-Calif.) urged the president on Sunday to drop his resistance to the idea and simply bypass the upcoming debate over raising the debt ceiling by deeming the entire cap unconstitutional.

Appearing on CBS‘ “Face the Nation,” Pelosi offered her strongest endorsement to-date of the 14th Amendment option, which holds that Congress doesn’t have the power to use the debt ceiling as a hostage-taking device because the validity of the debt “shall not be questioned.”

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“New Congress takes office Thursday, will tackle old Congress’ leftovers”

Barack Obama, BUSINESS, Congress, DEMOCRATS, economic justice, Eric Cantor, John Boehner, NANCY PELOSI, Sen. Mitch McConnell, Senator Harry Reid • Tags: , , , , , , ,

CNN

By Ben Brumfield

(CNN) – A new Congress takes office Thursday, and many of the same difficult issues that snagged the last one will fall into its lap.

President Barack Obama has signed into law a bill to avert the fiscal cliff, a deal worked out after lengthy, grinding friction between Democrats and Republicans. The political theatrics kept Americans and people around the world on pins and needles over how the outcome would affect the shaky global economy.

But the sequester — a set of automatic spending cuts of up to 10 percent to the budgets of most agencies and programs — lies ahead. It has been pushed back to the end of February.

At about the same time, a decision on the debt ceiling that the last Congress postponed will be due.

As an early order of business, the new Congress will address the massive aid package for Superstorm Sandy victims. House Speaker John Boehner scrapped a vote to approve the $60 billion measure late Tuesday in the wake of the vote on the fiscal cliff bill, triggering irate reactions from politicians in both parties from New York and New Jersey  FULL ARTICLE

“President Obama Hails ‘Cliff’ Deal, Warns of Next Fiscal Fight”

Barack Obama, Eric Cantor, FINANCIAL SYSTEM, John Boehner, JUSTICE IN GOVERNANCE, NANCY PELOSI, Politics, PostAday, Sen. Mitch McConnell, Senator Harry Reid • Tags: , , , , , , ,

By Devin Dyer and John Parkinson

Minutes after the House of Representatives approved a bipartisan Senate deal to avert the “fiscal cliff” and preserve Bush-era tax cuts for all Americans making less than $400,000 per year, President Obama praised party leaders and wasted little time turning to the next fiscal fight.

“This is one step in the broader effort to strengthen our economy for everybody,” Obama said.

Obama lamented that earlier attempts at a much larger fiscal deal that would have cut spending and dealt with entitlement reforms failed. He said he hoped future debates would be done with “a little less drama, a little less brinksmanship, and not scare folks quite as much.”

But Obama drew a line in the sand on the debt ceiling, which is set to be reached by March.

“While I will negotiate over many things, I will not have another debate with this Congress over whether they should pay the bills for what they’ve racked up,” Obama said. “We can’t not pay bills that we’ve already incurred.”  FULL ARTICLE

English: President Barack Obama makes a statem...

English: President Barack Obama makes a statement in the Brady Press Briefing Room at the White House announcing a deal in the ongoing efforts to find a balanced approach to the debt limit and deficit reduction, July 31, 2011. (Photo credit: Wikipedia)

National News Alert!

Barack Obama, BUSINESS, China, Congress, DEMOCRATS, FINANCIAL SYSTEM, FOREIGN POLICY, Politics, REPUBLICANS • Tags: , , , , , , ,

U.S. will hit debt limit on Dec. 31, Treasury says

The U.S. government will exhaust its borrowing authority on Dec. 31 and hit the $16.4 trillion federal debt limit, the Treasury Department said Wednesday, beginning a countdown until Congress either passes legislation to allow for more borrowing or the government defaults on its debt.

Treasury Secretary Timothy F. Geithner said in a letter to senior lawmakers that the Treasury would begin to undertake “extraordinary measures” in order to forestall default. Geithner said the measures could create about $200 billion in additional funding available to the government – giving Congress two months before it must raise the debt
limit.

Read more at:
http://www.washingtonpost.com/politics/us-will-hit-debt-limit-on-dec-31-treasury-department-says/2012/12/26/0e8e3738-4fa2-11e2-839d-d54cc6e49b63_story.html

“Debt Ceiling Bluff Called By Harry Reid, Leaving Mitch McConnell To Filibuster Himself”

2014 ELECTION, Congress, CORRUPTION, Democracy, economic justice, JUSTICE IN GOVERNANCE, KENTUCKY, Sen. Mitch McConnell, Senator Harry Reid, US & World News, US Finance • Tags: , , , , , , ,

HUFFINGTON POST

 

WASHINGTON — A move to embarrass Democrats backfired on Senate Minority Leader Mitch McConnell Thursday as the Kentucky Republican proposed a vote on raising the nation’s debt ceiling — then filibustered it when the Democrats tried to take him up on the offer.

On Thursday morning McConnell had made a motion for the vote on legislation that would let the president extend the country’s borrowing limit on his own. Congress would then have the option to disapprove such hikes, in a fashion similar to one that McConnell first suggested during last year’s standoff over the debt ceiling.

The minority leader apparently did not think Senate Majority Leader Harry Reid (D-Nev.) would take him up on his offer, which would have allowed McConnell to portray President Barack Obama’s desire for such authority as something even Democrats opposed.

Reid objected at first, but told McConnell he thought it might be a good idea. After Senate staff reviewed the proposal, Reid came back to the floor and proposed a straight up-or-down vote on the idea.

McConnell was forced to say no.

“What we’re talking about here is a perpetual debt ceiling grant, in effect, to the president, ” McConnell said. “Matters of this level of controversy always require 60 votes.”  FULL ARTICLE

JOIN ME IN SHINING A LIGHT ON MITCH McCONNELL

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