It's not Obamacare they are after, it is Social Security and Medicare.
The constitution mandates that the House of Representatives has the "power
of the purse" and Obama wants that power for himself. Wisely the House is
resisting Obama's power grab. The proof is that the House has sent many
funding bills to the Senate and Harry Reid has not allowed one of them to come
to vote and Obama has promised he will veto them UNLESS he gets a blank check,
no credit limits and unlimited, accountable spending.
If Lew prioritizes payments following the mandate of the constitution – to
protect the full faith and credit of the US government – there CANNOT be a
default on the debt. There is plenty of revenue to service the debt PLUS a
whole lot more.But since Lew is a democrat, and we know the
democrats care nothing for the constitution and will never let a good crisis go
to waste, we know he will allow a default, since it will do the most damage
possible. He said there is no mechanism for prioritizing payments –
he’d better start working on one!
There will be no default. They have 260 billion coming in every month, and only
need 25 billion to pay off the interest. It's all smoke and mirrors. No
more baseline budgeting. Make them come up with a budget every year. It's
constitutional!!!!!! We'll finally see this debt limit thing for the sham
that it is. An excuse to keep overspending.
@MountanmanThe Senate can vote on and amend budgets and the White House
can veto it. They are using perfectly legitimate power. Reid has allowed many of
the House bills to come up, amended them, and sent them back, where Boehner
refuses to bring them up.
@lost in DCthanks once again for telling us democrates what we
think. If you have a valid point to make then make it, petty attacks only
undermine your arguments.
Here is an analogy:Your family earns $26,000 a month.Your
interest payments are $2,500 a month.The only way you will default
on your interest payments (debt) is if you CHOOSE not to pay them and instead
decide to spend your money unwisely.So who is making a mountain out
of a mole hill?Answer: Those who would choose not to pay the
interest on the U.S. debt (a default) so they can keep overspending.
@rvalens2So please tell us exactly what current obligations should
we simply stop paying? We are not talking about new funding with the debt
ceiling increase; we are talking about paying for our existing obligations. You
cannot simply stop paying your debt because you failed to budget correctly; you
have to keep paying your debt or default which means higher interest rates and
worse credit. The budget needs to be reduced no doubt but we cannot simply stop
making payments on our current obligations.
@rvalens2The US has other obligations that it can default on like pension
or social security payments. Still though, considering all the whining about the
National Park closures, that's nothing compared to what smashing in the
debt ceiling would require to be cut.
So when Reid says there is progress being made, does that mean the democrats are
getting closer to considering compromise?
There are no two ways about it. Congress has been addicted to overspending for
decades. But it's gotten much worse and out of hand since Obama has taken
office. Much, much worse. The total federal deficit has gone up 70% in just 5
years. No matter when something substantial is done to address the
base problem, it is going to hurt and cause a lot of moaning and whining. No one
enjoys sacrificing. Everyone wants the other guy to have to do it. But the
longer we wait to address the problem, the worse the hurt is going to be. And
it's never going to go away on it's own. Some politicians
want to keep kicking the can down the road until they get out of office and let
someone else worry about it. That's pure selfishness. It won't be
easy, no matter what or when action is taken. But the sooner it's
addressed, the sooner the healing can begin. Let's bite the bullet and take
action now, instead of making things that much worse for our children and
Tators: " The total federal deficit has gone up 70% in just 5 years.
"-------------Actually, the deficit is going down.
The debt is still rising. There is a difference.
"Actually, the deficit is going down."It is now, after it
skyrocketed after Obama took office. It took quite a while before it finally
started coming down.
Republicans need to decide to be responsible stewards again. So much of our
financial stability depends on other countries' investors believing we are
stable and responsible with our money...yet somehow Congress has decided to run
a Mack truck through that credibility. Get your jobs done early enough not to
send every international investor into panic mode, people! Just look at how
many international money managers (Europe, China, etc.) are making contingency
plans for reducing their US investments. Even if here at home we tolerate
Congress's games, we are already losing the financial backing of formerly
supportive international investors, and we will ALL pay the price through higher
interest rates on everything we do or buy in the future. Only the
GOP has had people advocating for months that a govt shutdown and debt default
are somehow "useful" bargaining chips. Dems shouldn't need to make
concessions just so that the Reps will open the govt and pay for it. If the Reps want to accomplish useful progress, they should spend time writing
laws that they can convince both houses of Congress and the President to sign.
Otherwise they're just wasting time shouting at the mirror.