September 27, 2013
Re "Debt ceiling baloney," Editorial, Sept. 25 During the two terms of President George W. Bush's administration, Republicans voted seven times to raise the U.S. debt limit without demanding any cuts in federal spending. Now, GOP lawmakers should continue this responsible tradition that was endorsed by their last president. In 1983, President Reagan issued this warning to Senate Majority Leader Howard H. Baker Jr. (R-Tenn.): "The full consequences of a default by the United States - or even the serious prospect of a default - by the United States are impossible to predict and awesome to contemplate.
August 1, 2011
Congressional leaders spent Monday trying to sell their respective caucuses in the House and the Senate on the benefits of the debt-ceiling and deficit-reduction agreement struck over the weekend at the White House. Here are some elements of the deal: -- If Congress approves it, the compromise would raise the government's borrowing limit in stages by at least $2.1 trillion and up to $2.4 trillion, while providing a dollar-for-dollar exchange in spending cuts. The package would resolve the issue until 2013, after the presidential election.
July 22, 2011 |
The Senate on Friday defeated the Republican "Cut, Cap and Balance" proposal, a move that puts the onus on President Obama and House Speaker John Boehner to present a plan soon to raise the debt ceiling or risk a potentially catastrophic default. The procedural vote to kill the measure that was approved by the Republican-controlled House on Tuesday was along party lines in the Democratic-controlled Senate. "We're going to dispose of this legislation as it needs to be, so that President Obama and the speaker can move forward on a [plan]
August 1, 2011 |
With the nation on the razor's edge of a government default, the last-ditch, bipartisan deal to raise the federal debt ceiling and slash the budget deficit cleared its largest hurdle Monday evening, as the Republican-controlled House easily passed the legislation by a 269-161 tally. The Senate will vote at noon Tuesday. If it passes, the legislation would then go to President Obama's desk for signature and to avert a default, which the White House has maintained could have done catastrophic damage to the flagging economy.
May 15, 2012 |
WASHINGTON -- Ready for another debt-ceiling standoff in Congress? House Speaker John A. Boehner said Tuesday he will insist on spending cuts in exchange for a vote in Congress to raise the nation's debt limit, forewarning a year-end showdown that could resemble the standoff that resulted in a gridlocked Congress and the nation's first ever credit rating downgrade. “We shouldn't dread the debt limit. We should welcome it. It's an action-forcing event in a town that has become infamous for inaction,” Boehner is expected to say Tuesday afternoon in remarks released by his office ahead of his talk at the Peter G. Peterson Foundation's 2012 Fiscal Summit in Washington.
October 2, 2013 |
You could see this one coming. Politico reported late Tuesday that congressional leaders are starting to talk about two fiscal crises merging in the days ahead. Federal agencies have partially shut down because House Republicans refuse to pass a bill to keep them open unless Senate Democrats agreed to delay or derail the 2010 healthcare law they (and President Obama) strongly support. The more time Congress spends debating this shutdown, the closer the federal government comes to hitting the debt ceiling -- a limit that Treasury Secretary Jacob Lew says will be reached around Oct. 17. The end of the fiscal year Sept.