Smart. Sharp. Funny. Fearless.
Monday, March 19, 2018
debt limit
Debt Limit

The Debt Limit Monster Is Coming Back

Congress is brewing up a budget mess that could turn President-elect Donald Trump’s first 100 days into a fiscal donnybrook.

December 8, 2016

The Party Of George W. Bush Or Ted Cruz?

Republicans will face a clear choice in 2016: Are they members of the party that destroys the economy accidentally, or on purpose? In the corner of unintentional destruction, we have the George W. Bush Republicans, represented by Governor Chris Christie (R-NJ). This week during a fundraising trip in Chicago, the governor seemed to reassure donors […]

February 16, 2014

Senate To Vote Wednesday To Lift U.S. Debt Ceiling

Washington (AFP) – Senators will vote Wednesday on a bill extending US borrowing authority with no strings attached, a sign lawmakers want to avert another paralyzing debt showdown. The measure, which raises the debt ceiling for the world’s largest economy until mid-March 2015, passed the House of Representatives Tuesday, and Senate leaders are proceeding with […]

February 12, 2014

5 Reasons The GOP Caved On The Debt Limit

RIP, debt ceiling crises. It’s obvious that Republicans have lost their old passion for holding the global economy hostage. Their final demands would have required Democrats to agree to increase spending in the near term in exchange for raising the debt ceiling. In 2011, the GOP introduced the “Boehner rule,” which required — for the […]

February 11, 2014

Republicans To Offer Condition-Free U.S. Debt Ceiling Hike

Washington (AFP) – House Republicans introduced a measure Tuesday to extend U.S. borrowing authority with no conditions attached, signalling they are stepping back from an election-year fiscal showdown. House Speaker John Boehner, unable to gain sufficient support from his fractured party for a plan he unveiled Monday that would have tied the debt ceiling hike […]

February 11, 2014

Study: Government-By-Crisis Has Cost 750,000 Jobs

As time continues to run out before Congress must raise the debt ceiling — Treasury Secretary Jack Lew has pegged February 27 as the date on which the “extraordinary measures” funding the government will be exhausted — a new report has confirmed the damage that previous standoffs have done to the U.S. economy. According to […]

February 10, 2014

Republicans Finalize Hostage Demand, Public Prepares To Blame Them For Default

House Republicans have narrowed their debt ceiling strategies to two demands, neither of which have anything to do with actually reducing America’s debt. In exchange for a one-year extension of the debt ceiling so the Treasury can pay debts Congress has already voted to take on, Republicans want the repeal of Obamacare’s risk corridors, according […]

February 4, 2014

Lew: ‘Time Is Short’ For Congress To Raise Debt Limit

Washington (AFP) – U.S. Treasury Secretary Jacob Lew warned Monday that the United States will exhaust its borrowing authority on Friday without action by Congress to lift the debt limit. “Time is short. Congress needs to act to extend the nation’s borrowing authority, and it needs to act now,” Lew said in to prepared remarks […]

February 3, 2014

House Leaders Respond To Obama Call For ‘Year Of Action’

CAMBRIDGE, Md. — After President Barack Obama outlined his goals for what he said should be a “year of action” for the American people, House Republicans are sending a message back: We’ve already done some of the heavy lifting. Ahead of a three-day retreat that started here Wednesday night, House GOP leaders signed a letter […]

January 30, 2014

House Republicans Make Their Regularly Scheduled Threat To Destroy The Global Economy

House Republicans will huddle at their annual retreat next week to decide what will they demand in exchange for raising the debt ceiling. If the limit on how much the government can borrow to pay off debts Congress has already voted to incur is not raised by late February, the U.S. will default purposely for […]

January 24, 2014

This Is How Republicans Could Blow The 2014 Midterms

As the 2014 midterm elections approach, Republicans are feeling increasingly optimistic about their chances of winning a majority in the U.S. Senate, along with keeping control of the House of Representatives. And while there is reason to doubt that the current Republican plan of simply trashing the Affordable Care Act without even offering an alternative […]

January 16, 2014

Obama: U.S. Shouldn’t Let Its Credit Be Downgraded Because We Lack ‘AAA Political System To Match Our AAA Credit Rating’

Speaking from the White House around 10:30 this morning, the president insisted the nation work for a solution to avert default and steer clear of a predictable — and avoidable — crisis: Right now, the House of Representatives is still trying to pass a bill that a majority of Republicans and Democrats in the Senate […]

July 29, 2011

Obama Network Kicks In

Barack Obama urged citizens to contact their members of Congress and urge action on the debt limit in his prime-time address last night, and that plea is apparently yielding dividends: House telephone lines are still jammed this morning after President Barack Obama urged the public in his speech last night to contact their members of […]

July 26, 2011

China Worried About U.S. Default

As House Republicans continue to hold the United States hostage over raising the debt limit, China is using Standard & Poor’s and Moody’s (relatively empty) threats to downgrade the United States’ credit rating as a pretext to issue stern warnings on honoring our more than $1 trillion in debt to that country. China’s State Administration […]

July 20, 2011

“They Know Better”

An aggressive President Barack Obama spoke on the ongoing debt limit negotiations at a White House Press conference late Monday morning. “I will not sign a 30-day or 60-day or 90-day or 180 day extension,” the president said of a potential stopgap resolution to stave off default. “That is not an acceptable approach.” Obama dug […]

July 11, 2011

Boehner Bails on Grand Debt Bargain, Imperiling Chances of Deal

With just a matter of days until the U.S. government defaults for the first time in history, Speaker John Boehner caved to the right of his Republican caucus over the weekend, shedding the elder statesman role he had started to assume and signaling he will not support a real bargain on raising the debt limit: […]

July 10, 2011

Report: Geithner Rules Out Constitutional Option on Debt Limit

Treasury Secretary Tim Geithner apparently told lawmakers in the private bipartisan debt ceiling talks yesterday that the so-called Constitutional Option, or invoking the 14th amendment guarantee that “[t]he validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or […]

July 8, 2011

Debt Limit? GOP Representatives Who Oppose Federal Spending Owe Thousands In Credit Card Debt

Texas Rep. Blake Farenthold, like many of her fellow Republican freshmen, has argued that the government, like individuals, should avoid debt. In January, she released a statement arguing that the government debt was too high and “like the rest of America, the government needs to tighten its belt and work within its means.” Farenthold apparently […]

June 20, 2011

Nevada Special Election Dominated by Fear of Chinese Domination

A congressional seat opened up in Nevada earlier this year when Senator John Ensign, mired in a scandal over having tried to pay off the husband of a staffer with whom he had a romantic relationship, resigned. Dean Heller, Congressman from the 2nd district, was appointed to replace him by the Republican governor of the […]

June 20, 2011