Tag Archives: Debt Ceiling


The Looming Republican Rebellion

“I think there’s going to be a rebellion against everybody, not just leadership. If we get to December and we’ve not repealed Obamacare, don’t build the wall… it’s not going to be pretty.”

— Rep. Mark Meadows (R-NC), quoted by Axios.


Six GOP Senators Changed Vote on Debt Ceiling Issue


Number of Senate Republicans who switched from ‘nay’ to ‘aye’ on the critical vote allowing the nation’s debt limit to be extended, a copy of the official Senate vote tally sheet provided to Roll Call suggests. “The tally sheet is the only record of which senators may have switched their votes because the Senate clerk — in a break with tradition — didn’t name names during the nearly hourlong vote. Capitol Hill reporters are protesting that change, still within the rules, as lacking transparency.”


Boehner Is Pragmatic — In Secret

There’s no sense picking a fight we can’t win.

— Speaker John Boehner, quoted by Roll Call, in a private GOP conference meeting on raising the debt ceiling.


If It Defaults, the Government Won’t Run Out of Money Tomorrow

$36.5 billion

Amount the Federal Treasury will have on hand to pay its bills if the debt ceiling isn’t lifted by Oct. 17. Revenues and cash reserves will probably cover the $12 billion of social security payments due Oct. 23 and the $3 billion of Federal salaries due on Oct. 25. But they may not cover the $6 billion of debt interest payments due on Oct. 31 and almost certainly won’t cover the $57 billion of social security, Medicare, military and income support payments due on Nov. 1, according to FT Alphaville.


It’s Better to Preserve Than Try to Restore Credit

Credit worthiness is like virginity, it can be preserved but not restored very easily, so it is crazy to play around with it.

— Warren Buffett, in an interview on CNBC.

News & Comment

I Really Want to Buy Into This Slate Pitch, But …

I’m not sure I can swallow the assertion that Barack Obama is the shrewdest political tactician since LBJ, but David Corn does make a compelling case, and I really do want to believe that all this time Obama knew exactly what he was doing on Syria, Putin and the debt showdown.

I suppose he’s just being Lincoln-esque. Again …

Do you buy the pitch?


GOP Playing Russian Roulette in Debt Ceiling Debate

An approach to the debt ceiling that says one will not vote for its extension unless ObamaCare is defunded is the political equivalent of playing Russian roulette with all the chambers of the gun loaded. It is the ultimate no-win strategy.

— Former Sen. Judd Gregg (R-NH), writing for The Hill.


Budget Showdown Looming in Mid-October

Protecting the full faith and credit of the United States is the responsibility of Congress, because only Congress can extend the nation’s borrowing authority. Failure to meet that responsibility would cause irreparable harm to the American economy.

— Treasury Secretary Jacob Lew, explaining in a letter to House Speaker John Boehner sent Monday, Aug. 26, the consequences of not extending the debt ceiling.

Poetic Justice

Joe the Congressman

Man, it’s been a long, hot, miserable political summer!
And Congress’ debt-ceiling debacle was a real bummer.
Why not elect a handyman
Who’s only kind of partisan?
Yep, what this Congress deserves is Joe the Plumber.

News & Comment

Boehner’s Favorable Rating Drops 10 Points

A second national poll released after the tea party threatened to force the United States into default during the debt-ceiling negotiations finds voters holding an unfavorable view of the GOP tea party in particular.

The tea party’s favorability declined from six percentage points, from 37 percent in July to 31 percent now

On Aug. 5, a CBS/NYT poll found that 40 percent of Americans had an unfavorable view of the tea party, the highest percentage recorded since CBS/NYT started polling the question.

Now a CNN poll finds that the hostage-taking tactics of the Republicans and their dominant fringe minority may have taken a toll on their collective public support, according to Huffington Post:

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