The Debt Ceiling Approacheth

[Direckshun]

Now that the fiscal cliff has been turned into various cliffs over the entirety of 2013 (should be a fun year, gang...), we can turn our attention the the next one coming up.

In February, we face the sequester cliff, followed shortly by the debt ceiling.

For all intents and purposes, this thread will be used as a repository for both cliffs.

The debt ceiling, of course, has far graver consequences for both the country and the planet. Treasury adopted emergency funding measures about two weeks ago.

[KC Dan]

Originally Posted by Direckshun

Just awful stuff, as it continues to fester another cliff over the year.

This is just dousing the economy in uncertainty. This needs to get done for at least the Obama presidency, if not forever.

No, what they need to do is pass a budget thru the House, Senate and the Prez sign that spends less than the revenue they take in. That is what NEEDS to get done

[Comrade Crapski]

Originally Posted by Direckshun

This is just dousing the economy in uncertainty.

Poor barry. Foiled again!

[FD]

Originally Posted by Direckshun

Not unconditionally -- not yet.

They're saying they're willing to raise it for three months.

Just awful stuff, as it continues to fester another cliff over the year.

This is just dousing the economy in uncertainty. This needs to get done for at least the Obama presidency, if not forever.

Not really, though. The 3 month extension is unconditional, and by admitting they have no leverage on this and surrendering, they give up any hope of creating a confrontation in the future over it. In all likelihood, the debt ceiling will be raised when the new continuing resolutions are passed in March. If not, they can threaten to not do it again next time but nobody will take them seriously.

[BucEyedPea]

Originally Posted by KC Dan

No, what they need to do is pass a budget thru the House, Senate and the Prez sign that spends less than the revenue they take in. That is what NEEDS to get done

Yup! This just happens to be what their job is to do per the Constitution too.

[BucEyedPea]

Originally Posted by Direckshun

It will probably get raised, by the way, without hard right and Tea Party Republicans.

The new majority of moderate Republicans and all Democrats is the new majority.

You think there is a new majority of moderate Republicans and/or with Democrats? Sorry, it was moderate Rs that lost and more strident left-wing Ds were elected. This suggests more polarization—not less. This post contradicts your own thread on it being difficult to get things done in the House. I think you need to make up your mind.

[BucEyedPea]

Originally Posted by Direckshun

It will probably get raised, by the way, without hard right and Tea Party Republicans.

The new majority of moderate Republicans and all Democrats is the new majority.

According to the most widely read Conservative paper (now on line) Human Events the split is merely tactical—not philosophical.

Other than that, I don't agree with Kruathammer's support of this or all his arguments but the divide is not philosophical.

http://www.humanevents.com/2013/01/1...y-for-the-gop/