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  • Morning Bell: Time For Congress to Lead on the Debt Ceiling

    As we saw at yesterday’s press conference, President Obama is not going to lead on the debt ceiling issue. Nor is he going to compromise or play a mediating role. He is more interested in blaming others for his troubles, demagoguing other solutions and running for re-election.

    This is why conservatives need to be reminded not to yield to scare tactics.  Last night, our sister organization, Heritage Action for America, announced it would ask Members of Congress to vote “no” on raising the debt ceiling–unless, that is, a deal “rises to the level of the substantial fiscal challenges which face our nation.” Heritage Action also said it would score that vote on its official scorecard.

    In other words, Members of Congress must not pass up this opportunity to lead as President Obama has.

    The Heritage Foundation has previously laid out exactly what an acceptable package might look like. It must: 1) significantly cut current spending; 2) restrict future spending; and 3) fix the budget process. Heritage Action for America notes that only one plan currently being debated meets this test, and that is the plan embodied in the “Cut, Cap and Balance Pledge.” Heritage Action goes on to say: “This is an example of a plan that matches the historical moment that we currently face as a nation.”

    But this reform will not be easy. President Obama is intent on laying the groundwork to blame Congress if a deal is not reached. It’s why the President pointed his finger at Congress several times yesterday, saying it was “their job” and “these are bills that Congress ran up” and finally excusing himself: “I’ve been doing Afghanistan, bin Laden and the Greek crisis.” Apparently for the President, the economy of Greece is more important than preventing the American economy from collapsing…like Greece’s.

    Some Members of Congress are working toward appropriate solutions. All 47 Republican Senators have co-sponsored a balanced budget proposal in the Senate. Likewise, Speaker John Boehner (R-OH) has indicated similar support among House Republicans for such a measure. The House GOP also passed a budget with significant savings, and they have proposed entitlement reform ideas. Meanwhile, Senate Democrats haven’t even engaged in the budget process in more than two years.

    But Congress must also act to relieve the uncertainty caused by Treasury Secretary Timothy Geithner’s August 2 deadline and keep President Obama focused on solutions rather than political talking points. Congress can do so by exercising its constitutional power of the purse and prioritizing federal spending, based on the framework of legislation introduced by Senator Pat Toomey (R-PA) and Congressman Tom McClintock (R-CA).

    As Heritage economist J.D. Foster has pointed out:

    Both immediately and long after it reaches the debt limit, the government would have far more than enough revenue coming in that the Secretary of the Treasury could use to pay interest on the debt.  Nor would preserving the current debt limit put at risk the full faith and credit of the United States government, as the President’s chief economic adviser has claimed.  The government would continue to pay net interest as it comes due.

    In fact, yesterday the Bipartisan Research Council released a Debt Ceiling Analysis that showed that even if the August 2 deadline is missed, the federal government would still have enough revenue to pay for: “all interest on Treasury securities (thus avoiding default), all Social Security obligations, all Medicare and Medicaid obligations, all Defense contractor bills, all Veterans payments, and all active duty troops, and still have almost $7 billion left over for other items.” Congress can and should take its time to get this right.

    Finally, any deal that cuts spending, restricts future spending and fixes the budget process will not fit on a single page. That is why it is critical that the American public have a full 72 hours to review the details of any deal to increase the debt ceiling.  As Heritage Action CEO Mike Needham notes:

    The Washington inclination to go behind closed doors and strike a grand deal is unacceptable.  Heritage Action, and the hundreds of thousands of Americans we represent, demand transparency and accountability. Americans must feel confident their Members of Congress understand what they are voting on.  There must not be another “pass the bill so that we can find out what is in it” moment.

    The status quo is not a plan. There is no saving Medicare or Social Security “as we know it.” America is on an unsustainable course, and raising taxes on job creators and wage providers will neither fix the problems in Washington nor help rescue a flailing economy. Half-measures and gimmicks will only push these problems down the road, and onto our children and grandchildren.

    The crisis is now. Now is the time for substantive action. The American people demand it.

    Quick Hits

     

    Posted in Ongoing Priorities [slideshow_deploy]

    64 Responses to Morning Bell: Time For Congress to Lead on the Debt Ceiling

    1. Robert says:

      Amen! No more cover for little johnny. Congress needs to act on all of these issues. So far, the republicans are blaming the Post Office and Medicare retirees for all of our problems. At least people at the Post Office work and over half of the Medicare retirees used to work. Why not focus on the 100 million people who rely on welfare programs and federal "resources" instead of work? The rest of US have seen pay cuts, housing values decrease, retirement plans dissolved, taxes increased, gas prices skyrocket, inflation and yet, the welfare class is untouchable. We should cut these unproductive programs to the core.

      • Mary West says:

        The real welfare mongers are the CEO's who have drained the working people of this country dry. This site is paid for by the Koch Brothers. Follow the money before you buy into this tripe.

      • Mary West says:

        The real welfare mongers are the CEO's who have drained the working people of this country dry. This site is paid for by the Koch Brothers. Follow the money before you buy into this tripe.

      • Dale Emde says:

        What happened to the idea which worked the last time it was tried when a number of state govenors were able to reduce welfare costs by getting welfare people off the dole and into jobs?

      • Mike says:

        Indeed.

      • Handyman says:

        You have everything right on line, these guys cave on this their no better than the demoncrats!

    2. Mary......WI says:

      I hope whatever Congress comes up with will be available to Americans for review and input to their reps. It is OUR country and WE pay the bills.

      I found Obama's speech yesterday appalling….whining is what he does best….admitting to the true seriousness of this country's financial situation is what he will NEVER do because I believe he wants America to fail. He must be one term before "Agenda 21" EVER comes into play in this country AND Obama being a grand supporter of the UN it might be the wheels are already in motion. God help us all.

    3. Steve Robertson says:

      Balance Budgen Amendment is a Bad idea.
      1. It ignores the fact that the Constitution limits spending to those areas enumerated in Articl I. If congress member ,of either party, won't follow the Constitution as written, what makes you think they will follow it as amended?

      2. Say Obama is reelected, democrats hold the Senate, democrats regain the House. They propose a budget of $4 trillion. They could then say, "Well, the constitution says we have to balance the budget, and since we can't cut spending that will hurt people, we'll have to raise taxes."

      3.I'm sure you're aware of how we got the 16th Amendment. It was because the republicans in congress got tired of the democrats accusing them of favoring the wealthy over the poor. The republicans decided to put it as a consitutional amendment hoping the states would not ratify it and be blamed for not allowing income to be taxed. The plan backfired. Enought states ratified it and it became part of the constitution. It has grown into the monster that it is today. All because of political gamesmanship.That's what I see going on with the BBA. It is doomed to backfire. (see #2)

    4. Louise says:

      Still don't understand why you would agree to raise the debt ceiling if "agreements" are made to cut the budget. (1) Politicians very rarely do what they promise, and (2) If the debt ceiling is not raised, they will be forced to stop spending.

    5. Curt Krehbiel says:

      "The crisis is now. Now is the time for substantive action. The American people demand it."

      And President Obama will stomp his feet and hold his breath and just throw a tantrum, but our economy will be preserved another day!

    6. Jumpmaster82 says:

      I thiink there's some creditability to the Presidents claim that Congress made this mess and they should fix it, after all it is their job, Right?
      Constitutionaly speaking isn't this the job of Congress?
      I can understand blaming the President if he veto's a bill that comes from both houses.
      Then it's his fault, but until Congress does their job and presents the President with a bill, it's Congress that at fault.

      • mtnwmn says:

        Mr. Obama has never submitted a budget so how can he blame Congress?

      • Bruce Taylor says:

        You are 100% correct Jumpmaster.
        Congress needs to start collecting presidential vetos to show the nation where our president really stands.

    7. r craft says:

      It is easy to balance the budget: Quit giving our money away! Get all the people who are collecting SSI that did not pay into it off the SSI Quit bailing out auto companies and banks that loaned people money they knew could not pay back. Create job here in this country by investing in new companies that could pay back government loans if needed for start up. Why do we bring someone into this country set them up in business let them pay no taxes for several years and we will not do the same for someone born legally in this country? How about making the fathers of those 5-6 children some women have pay for those children? No where in the constitution does it say we should support someone's elses children . How much do illegals cost this country every year? Send them back to wherever they came from. If we would make more jobs available we could cut down on publc assistance programs and save money and increase tax revenue at the same time. Our children and grand children have nothing to look forward to and I pity them. Maybe someone in the future can fix it no one today seems to care enough to fix it.

    8. Sam Rogers says:

      My understanding is Congress has identified a list of feel good projects adding up to 2.5 Trillion for 10 years. Most of them we have never heard of. They should provide enough to keep government going a long time without an increase in debt limit.
      There is a reason they have not made a budget in over two years but no one explains it well. The president and his crowd are winning the PR battle. All the nice words here and at similar places are not reaching to public.

    9. Sam Rogers says:

      My understanding is Congress has identified a list of feel good projects adding up to 2.5 Trillion for 10 years. Most of them we have never heard of. They should provide enough to keep government going a long time without an increase in debt limit.
      There is a reason they have not made a budget in over two years but no one explains it well. The president and his crowd are winning the PR battle. All the nice words here and at similar places are not reaching to public.

    10. Charles Nystrom says:

      The debate that will determine the economic future for America is on. With the "Main Stream's Media" ample assistance, the positions by President Obama and Senate Majority Leader, Harry Reid are dominating the arguement. Where are the rebuttals?

      Yesterday I wrote Speaker Boehner asking him to, before the day was out, to offer a step by step account of President Obama's mis-statements. My pont was the President's inaccuracies must not stand unchallenged.

      But the was no rebuttal nor am I aware of one up to this time. Absent vigorous and repeated couterattacks on President Obama's positions, Conservatives lose.

    11. Lloyd Scallan says:

      Let's be honest when answering this question. Does anyone, with an IQ over 20, actually believe Congress to can or will "lead" on the Debt CeIling? The answer is NO! Obama and the Dems have proven they are interested only in destroying this nation's economy. The old gurad Repubs are so entrenched in Wasgington politics, they don't have the guts to fight for the people that put them in office. The "new turks" Republicans are making an attempt to save our American way of life. But with so many against changing Washington, it's not likely they have a chance to lead.

    12. Michael Gabel, CPA says:

      The president and his speech were disgusting yesterday. I hold him in contempt for abdicating his role as leader of this great nation.

      I urge the members of Congress to vote "NO" on raising the debt ceiling. By doing this, you force government to make choices on spending priorities and you illustrate how damaging it is to borrow past your means.

      The drivers of our over extended debt are our nanny state entitlement programs. This is the main area where true fiscal reform can happen.

      I'm ready, and have been for a long time, to scrap the entire Social Security and Medicare sysytems as is. The funds and decision making need to be returned to the rightful owners, We the People. My skin in the game, you ask? At 47, I'm willing to forego any accrued benefits if I am allowed to opt out of the Ponzi schemes, otherwise known as Social Security and Medicare.

    13. Frank says:

      I agree with a financial advisor, Porter Stansberry: We need to cut $1 out of every $3 now spent by the Federal Government, which would allow us to balance our budget & begin to significantly reduce the deficit. Time is running out for us to do this. We presently have artificially low interest rates on short term Federal debt notes. As these come due (many over the next 3 years), the USA will be "rolling over" TRILLIONS OF DOLLARS of these notes into new, probably higher interest rate notes. Our interest payment on those notes will sky-rocket, unless we start to run a budget surplus NOW & start to significantly pay down the debt. Already the IMF has warned us that over the next 25 years, the US Dollar will cease to be the world's reserve currency. When that happens, economists predict the standard of living in the USA will decline by 25%. We are borrowing & spending our way into oblivion & it must stop now! Republicans in Congress must use all their skills & tools at hand to make America wake up to our financial mess and present solutions that the majority can agree on. Don't wait for Obama or the Democrats to act. They won't! Time may already be too late to avoid financial collapse.

    14. mike Van Vleck says:

      Excellent summary of the challenges we face with this Debt Ceiling limit. Republicans caved on the 2011 Budget bill, but they must hold the line on further debt. Having a national debt ceiling is already a joke, and Americans know it. The only way to keep the politicians from spending more is to set a limit that they cannot change. If they will not respect limits, then the next step for Americans will be to refuse to give them our hard earned wealth via taxes.

    15. kaydell bowles says:

      A conversion factor for Congress of 535 members equals not one decision on the debt crisis.

      What is prudent to all American who live on a budget and make do with thier income are: Get spending under control; Cut our all non-essentials; and analyze and balance the spending with the revenue! Not hard to do but Congress and the President are the ones who need to look at their performance and do the right thing for the American people. God have mercy on us should they not do the prudent thing to control spending within our means.

    16. John Doe says:

      If you can't afford it, don't do it, including Afghanistan, farm subsidies, corporate welfare, ethanal, missile defenseand school lunches-breakfast. Do Obam's debt commision recommendation NOW. Create jobs by allowing energy exploration and frir trade deals.

    17. Teri says:

      It is time for Congress to realize they have a "snake oil" salesman in the White House and in spite of President Obama's deviousness and sneakiness, the Congress ought to be able to deter his unconstitutional moves and STOP catering to him and his administration; put on their 'big boy' pants and do what is right for the American people and the USA.

      Just do it and do NOT raise the debt ceiling!

      Thank you.

    18. Jim Buzzell says:

      I have always been of the opinion that our congressional representatives are elected by us, We the People, to go to congress and lead; I have never understood how congress has consistently maintained that the president leads. The president is basically, the chief executive of the United States, he is not the rule maker, the legislator, and simply manages what congress gives him to manage; without congressional approval the president does not have any authority to go beyond what congress approves. Over the years our congressional representatives have abdicated their collective duties, responsibilities and assigned duties, to the executive branch that rightly belong in congress. In my opinion they have dones this to have a scape goat when issues do not go right and we complain; then is is always the president's fault. I am no fan of our current president; but that is another issue yet to be resolved. See second post.

    19. Jim Buzzell says:

      Second post: Unless our congressional representation reins in, and withdraws those duties, and responsibilities abdicated to the executive branch over the years, and starts exercising their duties and responsibilities as elected to do we will continue down this road to monarchy bedamed our Constitutional Republic. It is unfortuneate that the new fiscal conservatives elected to congress in in 2010 are fraught with deal with those still in congress that truely should have been out in the last election. The ballot box is our salvation if only "We the People" will exercise those liberties our Founding Fathers provided for us in our Constitution.

    20. KC - NM says:

      Obama's leadership style leaves a lot to be desired and so far has been quite ineffective. He wants the leadership in Congress to take the lead on the economy and debt issues. This should be interesting since the current top leadership is made up of professional politicians who are on opposite sides of the issues. Instead, we need leadership that is focused on the middle, not the extreme right or left. The needs of the many outweight the needs or desires of a few. Our economy can no longer be focused on the special interest groups or those with their hands out waiting for government assistance. We must be focused on job creation, spending cuts across the board, and closing the loop holes in the current tax structure. Smart leadership would end the current IRS and progressive tax system and replace it with a flat tax based only on income – no deductions, no exceptions. Raising the debt ceiling should not be an issue – instead, stop spending and live within the revenues that we generate as a country. If we must stop providing money to the rest of the world, then do so. We need to fix America first! We need real leadership to get this done!

    21. Loyd Reddig says:

      Any deal that comes up needs to be spending cuts. NO new taxes. I will not sit by and let these idiots spend more of our tax money. They have more to work with than any country in the world.

    22. William says:

      Brother Cooper does not seem to grasp the idea that Rep Ryan's plan for the betterment of America demanded several rises in the debt ceiling before a balanced budget deal in the 2060s. Nor does he seem to realize what a tax shift is, nor how the device is used to cover the expense of tax exemptions, subsidies, and preferments. There can be no meaning in the words "fiscal conservative" unless there is intent to follow the money. None but a true believer can argue that the current tax rates are appropriate. And I do not believe that Brother Cooper is one of those high earners who will be affected by a cange in certain of the tax rates.

    23. Mike the Bike says:

      In this case, President Obama is right. It is his job to stop Congress from "kicking the can down the road" by kicking these senators in their collective butts. Spending reductions must be followed by "revenue enhancements", so I say that the Congress should eliminate all those federal subsidies that pay people and corporations big money to either do nothing or support industries which are making money "hand over fist" without government help already. As far as tax increases go, I would like to see taxes raised with the proviso that they do not go into effect until our economy reaches some predetermined growth rate like maybe four percent per annum. This will ensure that an increased tax load is not imposed on the country before it can support it. If you are reading this, I thank you for your time.

    24. Mike the Bike says:

      In this case, President Obama is right. It is his job to stop Congress from "kicking the can down the road" by kicking these senators in their collective butts. Spending reductions must be followed by "revenue enhancements", so I say that the Congress should eliminate all those federal subsidies that pay people and corporations big money to either do nothing or support industries which are making money "hand over fist" without government help already. As far as tax increases go, I would like to see taxes raised with the proviso that they do not go into effect until our economy reaches some predetermined growth rate like maybe four percent per annum. This will ensure that an increased tax load is not imposed on the country before it can support it. If you are reading this, I thank you for your time.

      • Nancy says:

        We need a national debate about all government subsidies. I am not in favor of the feds picking the winners and losers in America. The free market should be the deciding factor(s). That having been said, subsidies do help innovation. However, 40 years of federal subsidies for solar power have not worked to our financial benefit. Solar power costs about 60 cents per kWh without subsidies. After 40 years, can we please give it a rest? Not to mention subsidizing Ethanol which costs 3 gallons of gasoline to produce 4 gallons of ethanol. Stupidity reigns supreme.

    25. Dwana Townsend says:

      Mr. Obama you are a Hypocrite!!! You spoke of "Leadership" to the American People yesterday, yet you fail to Lead by example. When it all fails, then you will be able to say, your Congress, your elected officials failed to do their jobs.

      This just proves to me once more that you lack the management skills necessary to run a country let alone a lemonaide stand. Quit playing the blame game, average citizens are sick of you lack of engagement, you are clueless to the pain of our people.

      You stand there so pompus and tell them they should work through the Holiday to get their work done, but I wonder what your 4th of July plans are??? Golf, beach with the family. Whatever it is, you should be willing to WORK too!

    26. William says:

      CEO Needham has one vote which he has used to select minority members of Congress. He has no political office from which to affect the outcome of votes by elected representatives. By the way, our form of government specifically requires that those who represent the majority of voters in specific districts make decisions at local, State and Federal levels. There is in this form of government no need to grant the general public 72 hours to consider a piece of legislation. Particularly when the spin that is harmful to our way of governing will be manufactured for economic gain by entities such as Heritage Action.

      • Clearhead says:

        If you can read this, and if you can remember one of the campaign lies spewed forth by the "I won!", then perhaps you will recall that it was HE who promised the public 72 hours to review things. Not that he ever intended to keep that promise more than any of the others he read off of his teleprompter. And if you are so opposed to The Heritage Foundation, then why do you read it?

    27. toledofan says:

      Another good article and, again, it'll probably fall on deaf ears. Let's face it , the Congress right now, especially the Senate, is weak at best and asking these guys to lead, well, I think that's a stretch. There are many things the Republicans can do, but, it's like they have lost their nerve or are just so beaten down, they say what's the point, or maybe everyones bogged down because there is so much chaos. At the end of the day these folks need to do their jobs regardless of the outcome and I think ,if they, the Administration, Congress and The White House paid any attention to what you guys have talked about over the past year, today we'd be at least 50% better than we were then.

    28. Russell Buckley says:

      A most insightful analysis. Please keep up the great work.

    29. Bobbie says:

      No reason of necessity for an increase but to grow government! A direct threat to America's freedom! Use this opportunity to reduce government to it's constitutional constraint and a demand for proper, discipline, compliant leadership.

      • William says:

        Bobbie, just in case you haven't noticed, certain government organizations that have been treated with respect by both political parties say that there is in fact a problem if the debt ceiling is not raised. It is no credit to a fiscal conservative if one will not follow the money. No competent American can hold that the current tax rate schedule is reasonable. No fiscal conservative can hold that tax exemptions can be maintained if revenue can not be increased. It is not likely that Bobbie is one of those who will be markedly affected if a higher income group is assessed a modestly higher tax rate. Follow the money is a challenge that many Republicans refuse to accept.

    30. Michael says:

      Please STOP using the word "cut" when talking about federal spending and entitlement programs. What Conservatives are proposing will "limit the amount of growth". Besides not being accurate, every time Conservatives use that word to make an argument, they lose the argument in the eyes of many Americans. We want to LIMIT THE SIZE OF THE GROWTH OF GOVERNMENT.

    31. Dr. H.D. Sinopoli says:

      Congress will cave and pass any increase in the debt ceiling needed because the lifer Republicans & socialist Democrats want to be reelected and could care less about their constituents. It's political folley, a game and everyone, including Heritage is playing, except the average citizen. Send money, write papers, have talk show hosts yell, scream, play funny parodies…but most of all send us more money so we can keep the game going.

      It's a big joke on the public. The debt ceiling will be raised, taxes will be raised, Heritage will write more letters, radio talk show hosts will bloveiate and, we will move on to the next crisis.

    32. Dr. H.D. Sinopoli says:

      Congress will cave and pass any increase in the debt ceiling needed because the lifer Republicans & socialist Democrats want to be reelected and could care less about their constituents. It's political folley, a game and everyone, including Heritage is playing, except the average citizen. Send money, write papers, have talk show hosts yell, scream, play funny parodies…but most of all send us more money so we can keep the game going.

      It's a big joke on the public. The debt ceiling will be raised, taxes will be raised, Heritage will write more letters, radio talk show hosts will bloveiate and, we will move on to the next crisis.

    33. Eric G. Huey says:

      As long as I can remember and under both primary political parties, the debt ceiling has been raised after promises are made but nothing has really changed. The Republicans have, once again, allowed the Democrats to put them on the defensive when they have the upper hand UNTIL THEY CONCEDE DEFEAT AND RAISE THE CEILING.

      The so called default is another fiction of the big government crowd who just cannot believe that their spending binge can be stopped by anyone and for any reason.

      JUST SAY NO!

      Then they can start funding government programs based on Cost vs Benefit. There is a lot of unjustifiable fat in our government even in my Department of Defense.

      Former Federal Employee and Retired CPA

    34. Bill says:

      Yes it is Congress's fault per Obama! What a wimp Obama is, he is proving he is in over his head!
      Cut all Federal employees salaries including Congress/President/Cabinet,,cut should be 20%. Do not cut military pay they deserve a raise. Cut out non essential Federal employees: Private industry has cut out many managers and kept the workers, Federal government can do this and keep work going of the agencies. All retirees drawing a pension from Congress or being President should have their pension cut 50%, since they all caused the mess we are in now.
      We can cut off Farm Subsidies and save several billions. We do need to get out of the middle east except to help Israel. We can give them the Green light to kept the lid down on the idiots.
      I am sure there are some whole departments we do not need, one would, be Education Dept another is the Energy Dept.

    35. mikeshaner says:

      I agree with the premise of the article. We spend too much and borrowing more is obviously not a remedy for that. The government needs to cut spending and the only way they will ever do that is to reduce revenues…The problem I have is with the headline…and Obama's speech yesterday suggest that elected officials are leaders but as the article linked below explains…they are servants:
      http://tinyurl.com/3gjdhwt

    36. Malinse says:

      I listened to excerpts of Obama's speech today, and after wanting to pull what little hair I have left out, I am ready to admit Obama doesn't make speeches, he only campaigns. His whole diatribe was about getting political fodder for 2012. It was a barrage on the Republicans, a constant reminder to his constituents that the Republicans must always be associated with the rich and evil jet owners. This is not how a president should be. But Obama doesn't know any better. Having cut his political teeth in the back alleys and high offices of Chicago, by organizing proleteriats ala Saul Alinsky, he is beyond reasoning for any working together of the two parties.

    37. Busapha says:

      When I was deeply involved in State pollitics I saw money handed out by politicians who said: This is too little to make a difference in the budget. A few million here and there, so what? Ask any person who is in debt how much the little amounts add up. At the federeral level it is the same. A few billion here and there for cronies or foreign aid just won't make a difference. We need to cut social security, medicare and this is the same as threatening to fire police and firemen. Or it's the kids. Politicians always threaten to cut the things most needed before even looking at their favorite projects because it scares people.

    38. Malinse says:

      As a follow up, Michael Medved mentioned the only "budget proposal" Obama offered was rejected 97-0. Medved said even the Democrats knew there wasn't enough cuts. This proves my theory that Obama doesn't care about the budget, he just wants the opportunity to stand up in front of cameras and disparage the republicans in preparation to get his followers chanting their two-minutes of "hate" every day up til the 2012 elections. They must be constantly reminded that Republicans are yacht owners and jet owners and want to throw babies out of hospitals. Obama said we will lose our national weather service, and children will be poisened by food growers. He might as well said also; buildings will collapse and trains will derail because of the nasty Republicans. The sad part is his followers believe him.

    39. Raymond says:

      Senator Obama said in 2006, "The fact that we are here today to debate raising America's debt limit is a sign of leadership failure."

    40. Blair Franconia, NH says:

      Lee Iacoca once said: "In business, you either lead, follow, or get out of the way."

    41. Al from Fl says:

      Obama, as usual, this time throws the democrat senators under the bus. They deserve it, since they refuse to generate a budget. Why would we need to raise the debt ceiling if we are going to implement significant cuts in spending? In my book, it's time to move on toward cuts in spending and not raise the debt ceiling. Would the Obama admin default instead of paying its debt payments and cut elsewhere and then blame the repubs? I guess they could but it would be dangerous for them and the country (increased interest rates, hence even larger debt payments) but I doubt that the people would be fooled. The republicans have got to stand their ground and decide who they are and what is important for America. I don't have a problem with the bal bud amendment but as some have observed, it's not a panacea.

    42. Fredlinskip says:

      Believe problem began around 30 years ago when Ronnie Reagan was able to push through congress economic policy that involved combining lowering taxes (especially upper brackets) & greatest peacetime military spending in American history, while claiming with straight face deficit would decrease and economy would improve. Brilliant!!
      His budget director David Stockman, responsible for the fuzzy math, told him from get go he was dreaming. National debt rose over 300% under Reagan, while GNP was to grow at lower rate than under Carter.
      Why is this relevant? because these are same issues that arise again and again. continued…

    43. Fredlinskip says:

      I know we’ve got a lot of resources, but how many times do we run our economy into a brick wall, repeating same old “trickle up” mantras that never worked. Borrow and Spend and Deregulate is all GOP has offered for 30 years and they want it to continue- Brilliant!
      Greenspan finally admitted in Senate hearing after financial meltdown that allowing corporations to regulate themselves was wrong- (little late, weren’t you there Al?)
      Economy can’t improve with policies that consolidate wealth at the top.
      When y’all are done destroying our country what are you going to do for encore?
      How stupid is stupid?

    44. Bobbie says:

      answer to the reply: What i do notice is an out of control government who has gone way beyond their oath of office! The debt ceiling needs NO INCREASE as it will only continue to grow bigger government! You can believe what you want but I give government no excuse when it's in their control AND out of my control. All levels of government in America are more charitable then governing! NOT AMERICA! and NOT FREEDOM!!!

    45. Ron W. Smith says:

      "There is no saving Medicare and Social Security 'as we know it.'" Don't we all know that, Rory Cooper. The debt ceiling looms, and absolutely every potential for cutting should be in the mix. Absolutely every effort to find equitable ways to rein in spending at the federal level should be made.
      I also agree that the "status quo is not a plan." Therefore, I propose getting right after in-budget spending as a first step. $1 trillion + goes every year to National Security the result of foreign policy decisions better restricted to flush times in America than the present lean times. Those funds are all out of the Treasury with no incoming revenues, unlike with Medicare and Social Security, and borrowed money foots the bill. National Security is, therefore, the first and, perhaps, biggest target for cutting.
      Taxpayers are stressed, Mr. Cooper. It's time to reassess what we call, by choice, National Security. We appropriate there without real limit. After all, our spending on National Security is annually more than is spent by the rest of the world combined. The projection of our power everywhere in the world is an extravagance in lean times, the proof being that no other country feels compelled to join us in the extravagance. Our successes in WWII have resulted in our being "SuperPower on Call" and, now that times are clearly lean with our country having a $14.3 trillion debt, simply can no longer be justified with domestic areas of need and programs being threatened with cuts.
      Yes, let's make progress toward resolving the impasse in Washington, D.C. The debt limit could be met in a minute were our foreign policy decisions behind our extravagance in national Security scrutinized. If Medicare and Social Security are due for long-range change, National Security spending is, too.

    46. Richard Ahern says:

      Cut spending at all levels-WASTE-FRAUD-MISMANAGEMENT DON'T RAISE THE DEBT CEILING

      REMENBER THE CONSENT OF THE PEOPLE http://WWW.JUDGENAP.COM http://WWW.WASTEWATCHERSINC.ORG

    47. mr science says:

      i wish republicans would stop trying to solve the debt crisis on the backs of the poor. the states that had the most spending cuts lost more jobs. i have a question… you are a business owner and you have some clients that owe you money. now some of your clients have the money to pay you now and some dont but they are able to make tiny payments. now as a business owner i am going to ask my clients with the most money to go ahead and settle their debt. why would i want to spend the time and resources trying to get payment from someone i know cant pay at this time… ie why would the govt want to tax people who have nothing to tax.

    48. Clearhead says:

      A gigantic problem with our representatives, president, and other employees is MEMORY LOSS. This explains one reason why we desparately need TERM LIMITS. Memory loss comes with aging, and apparently most of Congress including its 'present' have fallen victim to this malady. Otherwise, they could possibly remember 1ST GRADE ARITHMETIC — Thoughtful additiion and subtraction is all they really need to solve the financial crisis which seems to have the majority of these old geezers completely stymied. (hint) "You can't subtract more from a number than the number itself". I realize that is extremely complicated for them, but I hope for the benefit of our country,they will try this a few times, and try hard to understand it.

    49. Bruce Taylor says:

      According to the Constitution, Congress is required to take the lead on the debt ceiling as they are supposed to control spending. Why is so much emphasis placed on how Obama postures. Of course he has to approve the budget but he is not required to right one. Let's put legislation in front of him to sign or veto, thus forcing him to show his hand. He threatens to halt the inspection of pork chops and the great republican majority in congress put thier collective tails between thier legs and go home crying.

    50. Alan Kalons says:

      Debt Ceiling???? What the hell is a Debt Ceiling? What Joker came up with this idea? We either have the money to spend or we don't. How can raise something that you don't have?

    51. George Swindell says:

      Subtitute the Republican/Tea Party for President Obama and the posting is accurate. If compromise and leadership are linked together than as we have seen in the last 12 months the GOP/TP are sadly lacking.
      The state of politics has reached a all time low and it is clear to me that it is time to pick a side in this ideological battle. As a former Republican, then Independent I have chosen a side and support the President.

    52. Bobbie says:

      disappointing George, to give up all America had to offer to the world. You are giving up freedom for socialism? Communism? A third world America? disappointing…

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