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Tag Archives: debt ceiling

GOP Caves on Debt Ceiling

Updated 5:33 pm ET

In a victory for President Obama, House Speaker John Boehner this evening is moving a “clean” increase the debt limit, failing to tie it to any spending cuts, changes in Obamacare or any of the other ideas previously backed or considered by Republicans.

Republican leaders expect the measure to pass with Democratic and some Republican support. They most recently had considered tying to the debt limit a restoration of military pension benefits that had been cut, but they abandoned the idea this morning.

Obama had vowed not to negotiate on the debt limit. His strategy succeeded.

The House Wednesday will depart for a two week recess.

UPDATE: The bill, which lifts the ceiling for a year, passed 221-201, with a few Republicans joining nearly all Democrats.

Expert: Obama Could Seize Power of Purse From Congress

A possible Republican plan to tie defunding Obamacare to an increase in the federal debt ceiling could provoke a Constitutional crisis, with President Obama deciding to borrow money anyway even if Congress fails to raise the borrowing limit. Republicans are currently seeking to attach language defunding Obamacare to legislation to continue government funding after the… Continue Reading

House Republicans Cave on the Debt Ceiling

House Republicans decided today to allow a vote to increase the debt ceiling for three months, insisting that in the interim the Senate must pass a budget, which the Senate hasn’t done in years. The previous House position was that there would be no debt ceiling increase unless there are corresponding cuts. But all that… Continue Reading

Is Obama Setting the Stage to Seize the Power of the Purse?

The White House may craftily be laying the groundwork for a massive and thoroughly unconstitutional seizure of power from Congress. Republicans are threatening not to raise the debt ceiling limit unless President Obama agrees to significant cuts in spending. And so, a move is increasingly afoot to have Obama raise it himself. It’s hard to… Continue Reading

Americans Think Debt Deal Will Make Economy Worse

By a more than two to one majority, Americans say the debt ceiling deal reached between President Obama and Congress will make the economy worse, according to a new poll by USA Today/Gallup. The survey is bad political news all around. Forty one percent approve of Obama’s handling of the negotiations and 49 percent disapprove,… Continue Reading

Obama and Congressional Leaders Finalize a Deal

President Obama and House and Senate leaders of both Parties tonight reached a debt ceiling deal that will lower the projected deficit by about $2.4 trillion, avoiding another debate over the debt limit before Election Day 2012. The sum is about the amount needed to extend the debt ceiling through 2012 without increasing the nation’s… Continue Reading

White House and GOP Appear to Have a Deal

It looks like a deal on the debt ceiling is in hand. Alexander Bolton, ace congressional reporter for The Hill, appears to have the lowdown. A congressional source said Saturday night that Obama and GOP leaders had reached a tentative deal that would raise the debt limit by between $2.4 trillion and $2.8 trillion. It… Continue Reading