President Barack Obama is demanding a $1.1 trillion “ransom”–or else he will not allow the debt ceiling to be raised. That’s the effective offer on the table from the president and Senate Democrats. They have now refused to pass a “clean” short-term debt ceiling hike unless Republicans agree to reverse the “sequester” spending cuts in the 2011 Budget Control Act that were enacted–at Obama’s suggestion–to end the last debt ceiling crisis.
The president, who has invited congressional leaders to conduct talks at the White House Monday afternoon, still continues to insist that he “will not pay a ransom for Congress reopening the government and raising the debt limit.” Yet he and his party are the ones insisting on a “ransom,” now that Republicans appear to be in the mood to compromise after opinion poll results last week showed them losing politically in the showdown.
Sen. Dick Durbin (D-IL) has claimed that the sequester dispute means that Democrats and Republicans are only $70 billion apart in budget negotiations. That is a blatant lie, as the total value of the sequester over ten years is $1.1 trillion. Democrats do not want a reprieve for one year–they want the entire sequester canceled so that they can continue spending on such priorities as the annual cowboy poetry festival in Nevada.
Last week, President Obama asked the press to “imagine if a Democratic Congress threatened to crash the global economy unless a Republican president agreed to gun background checks or immigration reform.” Now the White House and a Democrat-controlled Senate are threatening exactly that–unless Republicans agree to fork over $1.1 trillion, paid for with new “revenues” (i.e. taxes) on the American people. Ransom, indeed
Cross-Posted at Right Wing News
Political bridge-building is usually considered a good thing, but when the “bridge” you are building is the abridgement of the separation of powers, not so much. More Obama Domestic Abuse: Now Look What You Made Me Do… on tap.
In an alarming development, word comes from Mark Levin and others in Congress that the President is prepping to raise the debt ceiling unilaterally. You know — usurping the power of the purse granted solely to Congress. That ladies and gentlemen, is impeachment worthy.
Mark Levin gets it and America better pay attention:
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I stand here in abject stupefaction. The so-called “right” or “Tea Party” in this republic is being so thoroughly rolled and defeated that I am struggling to come up with an adequate violent submission metaphor that does not involve prison rape . . . and they honesty think that they’re “winning.” Really? You call this winning?
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The notion of government raiding personal retirement accounts for funds may seem extreme. Perhaps it shouldn’t. Other governments have done it. Argentina did in 2008. Ireland has indicated it might. The worsening financial crisis may eventually move other countries in that direction.
Surely the US would never do so.
Actually, there is little basis for assuming they would not and factual evidence they would. Here are three good reasons to believe they would:
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Toomey Says Politics Blocking Debt Deal: MyFoxPHILLY.com
Pennsylvania Sen. Pat Toomey is a big player in the debt-ceiling negotiations in Washington, and on Monday he gave Fox 29 viewers a frank answer about politics delaying key talks in Congress.
Toomey is among a group on GOP congress members talking with President Barack Obama and the Democrats about a deal to avoid an August 2nd default on the nation’s debt payments.
Toomey says the current administration has “moved the goal posts” in the debt-ceiling talks.
“What they have done is massively expanded the size of government by about 25 percent, relative to GDP, and now they come along and say, ‘you guys need to raise taxes to pay for this,’” Toomey said.