HAVE A GREAT EVENING!
By the time the president was making his case for the fourth time, the responses started getting a little repetitious, but Obama’s line didn’t change: we’ve already made enormous progress on debt reduction, he’s willing to do more, but a hostage strategy based on the debt ceiling isn’t acceptable.
In fact, the president spent a fair amount of time trying to explain to the public what some reporters occasionally overlook:
“The debt ceiling is not a question of authorizing more spending. Raising the debt ceiling does not authorize more spending. It simply allows the country to pay for spending that Congress has already committed to.
“These are bills that have already been racked up, and we need to pay them. So while I’m willing to compromise and find common ground over how to reduce our deficits, America cannot afford another debate with this Congress about whether or not they should…
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“SPITTING ON THEIR GRAVES: NRA releases app just a month after Newtown massacre that lets kids as young as 4 open fire on targets eerily shaped like coffins”
NEW YORK DAILY NEWS
(CNN) – Former Secretary of State Colin Powell said Sunday he’s still a member of the Republican Party, despite voting for President Barack Obama in the last two elections and being very critical of the GOP of late.
“I think the Republican Party right now is having an identity problem — and I’m still a Republican,” Powell said on NBC’s “Meet the Press.” “But in recent years there’s been a significant shift to the right, and we’ve seen what that shift has produced: two losing presidential campaigns.”
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If Republicans hold the position that they will not raise the debt ceiling unless it is matched by future cuts, does that give the GOP incentive to raise the debt ceiling?
Consider it this way: Presuming a perpetual state of debts and deficits is not the long-term objective of either Democrats or Republicans, but spending levels are, if Congress raises the debt ceiling now, it provides a short-term concession for a long-term gain. Dollars approved to pay for accrued debts equals dollars cut from future public investment. Raising the debt ceiling is, therefore, a perverse way of achieving the “Starve the Beast” strategy.
Or maybe a better analogy should be called a foie gras strategy. Feed the Golden Goose before slaughtering it and eating its fattened liver.
But in this case we’re really looking at faux gras. The people of the United States — the collective efforts and…
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House GOP eyes default, shutdown – POLITICO: “Republican leadership officials, in a series of private meetings and conversations this past week, warned that the White House, much less the broader public, doesn’t understand how hard it will be to talk restive conservatives off the fiscal ledge. To the vast majority of House Republicans, it is far riskier long term to pile up new debt than it is to test the market and economic reaction of default or closing down the government.
GOP officials said more than half of their members are prepared to allow default unless Obama agrees to dramatic cuts he has repeatedly said he opposes. Many more members, including some party leaders, are prepared to shut down the government to make their point. House Speaker John Boehner “may need a shutdown just to get it out of their system,” said a top GOP leadership adviser. “We might…
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