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Why must we increase taxes to raise the debt ceiling?
We don't, and I think pretty much all the time, the debt limit has just been raised in a clean bill. This year it is just being used as a tool in the only goal the GOP has, beat Obama in any way possible. If the Country and the people get hurt, per John Boehner, "so be it".
We don't, and I think pretty much all the time, the debt limit has just been raised in a clean bill. This year it is just being used as a tool in the only goal the GOP has, beat Obama in any way possible. If the Country and the people get hurt, per John Boehner, "so be it".
Exactly right, Bob.
Normally, raising the debt limit ceiling to cover money we've already spent is ROUTINE. It is only this time that the looney Right has decided to try to play Russian Roulete with the process, in an effort to force Draconian spending cuts to to social programs and/or sabotage the US economy in the run-up to 2012.
I urge the president- make an executive decision, under your exisiting authority, to order the Treasury Dept to pay the debt, thus avoiding a financial crisis. Then, save the tax or slash arguments for the budget talks.
Why do we have to cut spending only to pay the debt when Exxon and GE are making billions and paying 0% taxes?
Even the speaker of the houses website said that a reasonable balanced budget deal would contain a 85% spending cut, and a 15% revenue increase.
The Bipartisan budget talks were fine, Eric Cantor walked out when a 83/17 ratio was mentioned by Democrats.
Democrats are being reasonable on the budget, Republicans are not.
Sounds like you have an issue with the tax code, just like the rest of America. After we solve the debt ceiling issue we can get to the tax code. Senate republicans are offering up a balanced budget amendment to the Constitution. We should be demanding this along with the debt ceiling increase not trying to increase taxes for $200k+ earners with no real plan at getting things solved.
Sounds like you have an issue with the tax code, just like the rest of America. After we solve the debt ceiling issue we can get to the tax code. Senate republicans are offering up a balanced budget amendment to the Constitution. We should be demanding this along with the debt ceiling increase not trying to increase taxes for $200k+ earners with no real plan at getting things solved.
Here is the thing.
Republicans have said that a debt ceiling increase must come with a balanced budget. Thats all well and good, and as long as revising the tax code is on the table I support that.
But they have said that they want 0 tax code changes, 0 subsidies ended, and all spending cuts to balance the budget, and then they will increase the debt ceiling.
The Dems and President only want to up the credit limit.
Where are the hard decisions here ?
They have said many times that they want spending cuts.
Even the budget talks that cantor walked out of was 83/17 spending cut to tax increase ratio. Even John Boehner said that an 85/15 would be needed to balance the budget.
The Democrats are being reasonable, Republicans are not.
Republicans have said that a debt ceiling increase must come with a balanced budget. Thats all well and good, and as long as revising the tax code is on the table I support that.
But they have said that they want 0 tax code changes, 0 subsidies ended, and all spending cuts to balance the budget, and then they will increase the debt ceiling.
Of course the tax code is on the table but not in regards to the debt ceiling. They are simply seizing the opportunity to reign in spending otherwise it will never happen. If everyone agrees to spending cuts than knock out some spending cuts and get it done.
Not to make sure that our debt doesn't go into default. Section 4 of the 14th amendment says that all US debts are valid, and that the government must make sure they are paid. That means it is illegal for them to go into default.
Since the President executes the law, he must, by law, order the treasury department to further finance our current debt with more debt if needed, regardless of what Congress wants.
He can't expand the debt for new spending or government programs, but he can expand the debt unilaterally in order to pay the interest on the debt we currently have.
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