President Obama rules out short-term debt ceiling hike
Source: The Hill
(snip)
"It wouldnt be wise, as some suggest, to just kick the debt ceiling can down the road for a couple months, and flirt with a first-ever intentional default right in the middle of the holiday shopping season," Obama said in his weekly address.
"Because damage to Americas sterling credit rating wouldnt just cause global markets to go haywire; it would become more expensive for everyone in America to borrow money. Students paying for college. Newlyweds buying a home."
(snip)
Obama claimed that the damage to interest rates from failing to pass a long-term debt ceiling hike would create a "Republican default tax" on families and businesses.
"Manufacturing crises to extract massive concessions isnt how our democracy works, and we have to stop it," Obama said. "Politics is a battle of ideas, but you advance those ideas through elections and legislation not extortion."
Read more: http://thehill.com/blogs/blog-briefing-room/news/328189-obama-pans-short-term-debt-ceiling-hike
In this weeks address, President Obama discussed his meetings with members of Congress of both parties and the ongoing effort to reopen the government and remove the danger of default from our economy. The President urged Congress to pass a budget, put people back to work, and end this shutdown. In his message, the President also called for paying our bills, and preventing an economic shutdown.
http://www.whitehouse.gov/the-press-office/2013/10/12/weekly-address-lets-get-back-work-american-people
Lasher
(27,641 posts)But a short term debt ceiling hike would put him on the spot. He'd receive such a bill literally during the 11th hour. If he signs it, we don't go into default right then. If he vetoes the bill, low information voters would latch onto the inevitable sound bites: 'All he had to do was sign his name.'
geek tragedy
(68,868 posts)Senate Republicans are about to pull the rug out from underneath him.
Lasher
(27,641 posts)But yes, the Corporate Toadies are turning on him and the Teabaggers. It's clear they've forgotten Saint Ronnie's 11th commandment.
geek tragedy
(68,868 posts)2016 primary season should be fun. Chris Christie vs Rand Paul with a side helping of Taliban Ted Cruz.
Andy823
(11,495 posts)The crazy tea party will start their own third party and run someone who is even crazier than Cruz, like Sarah Palin! And of course they might just primary every single republican that doesn't agree with the tea party insane policies they want to push!
Lasher
(27,641 posts)One of our Senate seats is up for grabs next year in West Virginia. Looks like it's going to be a pickup for Shelley Moore Capito (R). I'm hoping she'll at least have a bloody fight against a Teabagger for the GOP nomination. The person most likely to play that role is Pat McGeehan, who's been endorsed by the Republican Liberty Caucus.
tavernier
(12,410 posts)That has a great ring to it and is so appropriate considering his efforts to destroy America.
msanthrope
(37,549 posts)displacedtexan
(15,696 posts)If the president caves on any of this, every future president will become Oliver, asking, "Please, sir, may I have some more?"
Right now, the president is in the catbird seat. I love it.
grantcart
(53,061 posts)BeyondGeography
(39,388 posts)Jamastiene
(38,187 posts)Is there anything in the law that can stop them from continuing to do all of this crap?
gristy
(10,667 posts)"Politics is a battle of ideas, but you advance those ideas through elections and legislation not extortion."