Raising The Debt Ceiling Is Inevitable : The Question Is When And How
By Darcie Perkins on January 25, 2011, 7:59 am
Raising the ceiling is, by definition, continuing business as usual because it is, without exception, what we have done everytime we have been confronted by the immediate problem of having more spending than we have revenue and having legal limits in place in an attempt to get Congress to take responsibility for its spending rather than trying to just borrow against our long-term solvency for the sake of avoiding difficult short-term choices. The conventional wisdom in the Beltway is that voting against raising the debt ceiling is wildly irresponsible – which is ironic considering that voting to raise the debt ceiling is, again, by definition an explicit announcement of Congress' abdication of responsibility.
Turning The Corner
“To begin turning the corner, I propose that any effort to raise the debt ceiling be tied to no less than a sustained 10 percent reduction of current discretionary spending. Though this is only a first step, it would finally be a step in the right direction — one the country can easily absorb,” he said.
Everything On The Table
House Majority Leader Eric Cantor (R-Va.) said that “everything is on the table” when it comes to cutting spending, although he declined to point to specific areas where spending would be cut. He also said that House Republicans won’t vote to raise the debt ceiling “unless there are serious spending cuts and reform.” Asked about Senate Majority Leader Harry Reid’s (D-Nev.) statement that the tea party movement will disappear once the economy improves, Cantor responded that the tea party is “absolutely” here to stay. He also suggested that House Republicans will reject President Obama’s call for new “investment” in infrastructure and other areas, saying that “the investment needs to be in the private sector.”
Obama Wants Whats Best
Pressed on whether congressional leaders should push back harder against those who claim President Obama is not a U.S. citizen, Cantor responded that it’s not appropriate to call anyone “crazy” and said that he believes Obama is a U.S. citizen. He added that Obama wants what’s best for the country, but that he and the GOP disagree on the way to achieve that.
