**HILARIOUS UPDATE BELOW** House Majority Leader Eric Cantor (R., Va.) acknowledged Tuesday that there are “huge consequences” if lawmakers fail to come to an agreement with the Obama administration to raise the U.S. debt ceiling in the coming days. – Rep. Cantor: Interest Rate Increases Could ‘Wipe Out’ Savings From Debt Talks We’re getting closer [...]
Tag Archives | debt ceiling
Jon Huntsman Stiffs DeMint
This guy needs to find a path to run as an Independent. Of course, there’s no path to win that way, but he could cause nightmares for Pres. Obama and the Republican nominee, which would be well worth it as an exercise. AP reporting: Former Utah Gov. Jon Huntsman, who would like to be the [...]
Only Hope Left is if the Debt Talks Fail
According to five separate sources with knowledge of negotiations — including both Republicans and Democrats — the president offered an increase in the eligibility age for Medicare, from 65 to 67, in exchange for Republican movement on increasing tax revenues. – Sam Stein Let’s hope the elites in the room carving up the cake can’t [...]
Obama on Social Security: ‘If you’re going to take a bunch of tough votes you might as well do it now.’
**UPDATED** “I’m prepared to take on significant heat from my party to get something done.” – Pres. Obama There’s something haunting about this photo. Obama look on as history passes. In August 2009, on a visit to Elkhart, Indiana to tout his stimulus plan, Obama sat down for an interview with NBC’s Chuck Todd, and [...]
Obama’s ‘Balanced Approach’ is a Democratic Killer
**UPDATED** President Barack Obama will push leaders of Congress to stay focused on negotiating a large deficit-reduction package, despite the decision by House Speaker John Boehner (R-Ohio) to abandon talks on a grand bargain, senior administration officials said Sunday. – Barack Obama will push for biggest deal possible
Bill, Barack, & the Mother of All Quotes
“I think we should always listen to Bill Clinton about everything. And so, if that’s his view then that should be the rule of law.” – John Heilemann on “Morning Joe” This belongs as a bookend to Chris Matthews’ thrill up his leg moment and is equally obsequiesce. With “journalism” like this is it any [...]
House Progressives and Obama’s ‘Deal of the Century’
House Minority Leader Nancy Pelosi (D-Calif.) was not informed in advance of President Obama’s plans to include Social Security reform in the scope of the debt-ceiling talks, a House Democratic aide said Thursday. Reports that Obama is looking for a big debt deal that would include Social Security reforms provoked anger among liberals in the [...]
Post and Times: Obama to Serve Up Social Security in Debt Talks
Shooting for another accomplishment, if the reporting is correct, Pres. Obama expects his “broader deal” bravery to impress Independents, while Democrats nod seriously saying, “It had to be done.” As for what Republicans will give in return, “Aides to Mr. Boehner said that no tax increases were on the table and that he had not [...]
Out of the Mouth of Patrick J. Buchanan
Mika asked Buchanan this morning why, putting aside the Republicans’ constituency, “why Republicans can’t give in some way, shape or form on taxes?” The reason Pres. Obama can’t get a deal with Republicans? “It’s not only politics, it is principle and philosophy. They think it’s the wrong way to go. .. You don’t do it [...]
Social Security COLA Cuts Being Considered in Debt Talks
[...] It is a rare proposal in that it would likely lead to both lower benefits paid to seniors and higher taxes paid by most people who pay federal income tax. As such, it could allow Republicans to argue they are tackling federal entitlement programs such as Social Security, and permit Democrats to say they [...]
Schumer Unveils Long Term Jobs Creation Bill
Art offers his perspective as a movement progressive activist. Good news, I think. Senator Schumer has unveiled a jobs bill and Reid is promising to hold hearings and press to get it in any debt deal. Schumer includes many progressive ideas. Its high time the Senate pushed this: …as Republicans have focused on extracting deep [...]
Bill Clinton: ‘Jon Huntsman Quite an Impressive Man’
Clinton’s assessment of Jon Huntsman is why Republicans won’t choose him. But if Huntsman and Bachmann could head the Republican ticket that would really be something for Obama reelect to go up against. Republicans simply aren’t that smart. Former Pres. Bill Clinton weighed in on a number of issues during a break of CGI, which [...]
Democrats Consider the Constitution Card
This is brilliant and worth the effort. From Ryan Grimm and Samuel Haas: By declaring the debt ceiling unconstitutional, the White House could continue to meet its financial obligations, leaving Tea Party-backed Republicans in the difficult position of arguing against the plain wording of the Constitution. Bipartisan negotiators are debating the size of the cuts, [...]
Pres. Obama’s Idea of Negotiating
The White House, seeking an agreement to raise the nation’s $14.3 trillion debt ceiling by Aug. 2, on Monday said it would not insist that any deal include an end to former President George W. Bush’s controversial tax rates on the wealthy. [...] The White House said the president is pushing the GOP to agree [...]
Women Won’t Get Squat by Being Timid
At Blair House, the old boys club meeting has consisted of Republican House Majority Leader Eric Cantor (R-VA), U.S. Senators John Kyl (R-AZ), Daniel Inouye (D-HI), Max Baucus (D-MT), Reps. Jim Clyburn (D-SC), and Chris Van Hollen (D-MD), who have convened for the budget negotiations with Vice President Biden, Treasury Secretary Tim Geithner, Budget Director [...]
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