The bottom line on the debt ceiling increase

pscot

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Thu Jul-14-11 03:37 PM
Original message

The bottom line on the debt ceiling increase

It is my understanding that the Congress has to increase the country's borrowing limit or we go into technical default. Why is it necessary for the President to negotiate any sort of deficit reduction in order for the Congress to raise the debt ceiling? If they refuse, how is that the president's fault? If he were to leave for Hawaii tomorrow and turn off his cell phone, how would that affect the Congress' ability to act? Has any president before now ever offered any kind of concessions to Congress to get them to do that which they are required, by law, to do? In other words, why is Obama negotiating with these racketeers?

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Drale

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Thu Jul-14-11 03:40 PM
Response to Original message

1. Because while the public would blame the GOP for a default

it would be a terrible disaster, maybe even worst then 9/11 in the long run and he wants to do everything possible to avoid it and I do no blame him for it one bit.

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pscot

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Thu Jul-14-11 03:47 PM
Response to Reply #1

2. Why has that argument never been made

before? It seems to me that he inserted himself into this process gratuituosly. The Senate could have killed any egregious program cuts that emerged from the House. Why did the President choose to get his hands dirty?

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Drale

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Thu Jul-14-11 04:00 PM
Response to Reply #2

3. Maybe he doesn't trust the Senate to get things done

or maybe he feared they would allow us to default and us it for political gain. I guess only the President really knows for sure..

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Ragnarok

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Sun Jul-17-11 01:20 PM
Response to Original message

4. Why not just raise the debt ceiling...

...to something like $850 trillion dollars? We're never paying it all back anyhow given we won't accept cuts, and they won't accept taxes. Bumping it to $850 trillion might get us to some point in the future where money doesn't matter, civilization is finished, or some other economy has come into play.

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westerebus

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Sun Jul-17-11 05:24 PM
Response to Original message

5. Politics.

Say's he, tongue in cheek.

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golfguru

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Sun Jul-17-11 05:52 PM
Response to Original message

6. Blame the election of 2010

specifically the House.

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