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Lawmakers Set For Battle Over Debt Ceiling Increase

January 6, 2011 by  

Lawmakers set for battle over debt ceiling increaseThe United States Treasury reports that the Federal debt has exceeded $13.9 trillion, which comes dangerously close to the statutory ceiling of $14.29 trillion set by Congress and approved by President Barack Obama last February.

The Obama administration is pushing to increase the debt limit, but could face resistance from a stronger Republican presence in Congress, which has pledged to reduce government spending and lower the deficit. Freshmen Tea Party lawmakers in particular are expected to take a hard line against an increase in the debt ceiling.

However, White House officials have warned that a failure to increase the limit would result in a "catastrophic" economic crisis. Appearing on ABC's This Week on Jan. 2, Obama's top economic advisor, Austan Goolsbee, said that the U.S. would go into default if the ceiling isn't raised, which could create a bigger fiscal mess than in 2008, when the nation entered into a severe recession.

"I don't see why anybody's talking about playing chicken with the debt ceiling," Goolsbee told the news provider. "If we get to the point where you've damaged the full faith and credit of the United States, that would be the first default in history caused purely by insanity."

According to FOX News, the national debt climbed approximately $1 trillion in a seven-month span, from June 2010 to the end of the year. The news provider reported that the deficit increased by 60 percent under former Speaker of the House Nancy Pelosi (D-Calif.), who served for four years. 

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  • http://none Mike

    Whats a few trillion between friends. We can print thoes zimbabwe notes cant we. You know the trillion dollar bills. That way we can all be trillionairs. Too bad one wouldent fill up your gas tank at that point. Ink isnt that precious a commidity. Mike L.

    • Al Sieber

      It will really surprise me if they don’t raise the debt limit. Zimbabwe here we come.

      • EddieW

        You got it!!! I signed several petitions aginst raising the debt limit…why have a limit…if it’s limitless? Time to make the hard choices….but….The governments idea of saving money is to take it away from those who most need it, like Social Security and Medicare!
        Why not the billions per month in Foreign Aid, when they vote against us 90 – 95% of the time in the UN?
        Also the wars, costing Billions per Month….if not week!!! It’s a bottomless money pit, that will never stop, until we can’t borrow anymore, nor even pay the interest, or minimum payment on what we’ve borrowed….Time to shut it down, and we will have plenty of money then!!!!

        • http://?? Joe H.

          EddieW,
          We shouldn’t be borrowing AT ALL!! We can’t keep up on the interest let alone the principle as it is!! We’re borrowing ourselves into a third world country now and no end in sight!!

    • DENNIS

      TIE THE INCREASE IN THE DEBT CEILING TO THE REPEAL OF OBAMACARE!! PLAIN AND SIMPLE. THE DUMBCRATS WANT MORE MONEY, AND WE WANT NO MORE OBAMACARE. END OF OBAMACARE AS WE KNOW IT.

      • 45caliber

        Sounds good to me.

        • Al Sieber

          Dennis, I agree with you, I would like to see the end of “Obama Care” also, the sooner the better.

  • photo lady

    Unconscionable irresponsibility to raise the debt ceiling! When a couple can’t pay their bills and the creditors are hounding them for payment, you cut up the credit cards – not raise their spending limit. We know it’s going to hurt to cut back because all the serial spenders haven’t learned discipline and responsibility with WE THE PEOPLE’S money. We can’t go forward as a nation and be productive, create jobs, and get people back to work with this millstone around our necks. We are drowning and refuse to accept the life ring being thrown to us in the form of people who actually care about this country and want to do the responsible thing. Time to take the bandage off the infected wound, expose it to the air and clean that sucker out. Put the Obamas on a restricted diet too about vacations and travel on Air Force One. Think about how many inner city schools could have been helped with the taxpayer money they wasted on themselves.

    • Mick

      photo lady…..
      What you said makes a lot of sense however the part of using the money saved and put it in inner city schools i disagree with, they don’t need more money they need discipline .

      • http://?? Joe H.

        Mick,
        On the schools and what you said? AMEN! Get a number of mad Joe principals like the one that they made the movie about. That in itself would go a long way in clearing up the problem kids and letting the ones that want to learn have a chance!! We’ve coddled the bad ones long enough!

        • OutragedinTX

          AMEN, Joe H. All that coddling and catering to those ‘bad’ ones is 99.9% of what is creating ALL the crime and corruption in OUR society today. I say, send their useless butts to the military, and let them learn some disipline, and how to be USEFUL in life. And if they don’t want to go and fight, send them anyway, without the training or weapon.

  • Jack Dumbauld

    Don’t raise the debt limit! Something has to change and this may signal to all that we actually are serious about getting a grip on our, no………..our grandchildrens, debt.

    My daddy aways said that nothing is ALL good, nor ALL bad. While there may be some “BAD” things that first happen, I believe that GOOD will be the final result.

    Sometimes if you enlarge the problem, the solution is more evident.

    • taxpayer

      Your dady was and is wrong! there is win – win, and lose – lose. Too much TV, you can save thousands of dollars by spending! really

      • 45caliber

        Uhhh, taxpayer? I have this lovely bridge for sale. Cheap too. Want a good deal????

  • photo lady

    Hey Mick! I agree with the discipline comment. The whole country needs discipline! I was thinking about that TV show where they show crumbling schools and a group comes in like on Extreme Home Make Over and help schools fix up things that are broken that the tax dollars aren’t fixing. The whole community comes together to create a better environment for learning and when people put sweat equity into something, they appreciate and take care of it better. The money the “royalty” are spending on themselves could go for programs like that.

    • Mick

      photo lady says:
      January 6, 2011 at 8:54 am
      Hey Mick! I agree with the discipline comment. The whole country needs discipline! I was thinking about that TV show where they show crumbling schools and a group comes in like on Extreme Home Make Over and help schools fix up things that are broken that the tax dollars aren’t fixing. The whole community comes together to create a better environment for learning and when people put sweat equity into something, they appreciate and take care of it better. The money the “royalty” are spending on themselves could go for programs like that.

      **********************************
      We have seen how the tax payer’s money has been wasted over the past few decades , we keep fixing the schools, section eight buildings and two week later it’s the same old thing, it’s desecrated. Anyone caught destroying anything will be responsible for the bill or locked up , not in a country club mind you.
      After awhile they will find out that they cannot continue to get away with it,,
      A few months of bread, beans and water doesn’t seem too attractive.

      • 45caliber

        The real problem here is that the parents are generally on welfare. Some years ago, a school bond issue failed in Little Rock, AR. They interviewed one father and had it on TV.

        “Why should I want to pay extra money to fix up the schools? The only reason my kids go is because I want them out of the house for awhile. As soon as they get old enough, they can start having kids and get on welfare too. And they don’t need an education to do that!”

  • FlaJim

    Not a dime more. Enough is enough!

  • jopa

    When an article has fox news as a source it is not very credible.

  • DENNIS

    TIE THE INCREASE IN THE DEBT CEILING TO THE REPEAL OF OBAMACARE!! PLAIN AND SIMPLE. THE DUMBCRATS WANT MORE MONEY, AND WE WANT NO MORE OBAMACARE. END OF OBAMACARE AS WE KNOW IT.

  • azwayne

    Agree with all, no more DEBT. Contact all your congress and especially replaceble democrats in senate. Even if not yours get everyone to blast them daily, get their email addresses and make it convenient. Even if they have D by their name, they should be aware there will be more change in 2012. Nothing better than threaten their golden seats. It is imperative to encourage their support for repeal of ODUMBOCARE also.
    Feinstein-shouldn’t be question, but we know california
    Lieberman- slim win last time
    Carper, Delaware
    Bill Nelson- Florida
    Daniel Akaka-Hawaii
    Cardin- Maryland
    Stabenow- Michigan- they are becoming little smarter, wouldn’t be difficult
    Klobuchar-Minnesota
    McCaskill-Missouri-already regrets healthcare vote
    Tester-Montana-barely beat last election
    Nelson-Nebraska-Very alert and fearful after his healthcare buyout
    Menendez- New Jersey- already fought off his recall, needs put in jail not merely replaced.
    Bingaman-New Mexico- they just went republican governor, might easily be replaced, threatened.
    Gilliband-New York-Getting enough negative attention, anyone could replace.
    Conrad-North Dakota
    Brown-Ohio
    Casey-Pennsylvania
    Whitehouse-Rhode ISland
    Sanders-Vermont-Aren’t there any competents in Vermont?
    Webb-Virginia, Knows he’s on the ropes-bad record
    Cantwell-Washington
    Manchin-West Virginia
    Kohl-Wisconsin-Waking up starting to become republican

    You can remind 10 republicans to become conservative, they are not safe in 2012;
    Kyl-Arizona-He’s been getting message, a recall petition was started
    Lugar-Indiana Everyone knows he’s worthless, Indiana is waking up too
    Snowe- Maine- is there any hope for Maine. Why she hasn’t been recalled arrested, jailed. Maines asleep or bought.
    Scott Brown- Needs to be threatened but yes better than Kennedy’s
    Wicker- Mississippi
    Ensign-Nevada
    Corker-Tennessee
    Hutchison-Texas
    Hatch-Utah-Wish they could find conservative-He’s lost it
    Barrasso-Wyoming

    Get lively make noise, get them on your contact list and lett y6our contacts know.
    Congress belongs to people, make them responsible.

    • http://none Mike

      Takeing care of Corker on this front. I have a feeling come the end of this term we are going to give him his papers. Hard to say though we have blind lever pullers here on the republican side. Mike L.

  • HARRIETTE B. HARRISON

    I JUST CAN’T GET OVER THE FACT THAT WE HAVE A WAR GOING ON THAT IS COSTING US BILLIONS AND TRILLIONS A DAY (HELLO). I REALIZE THAT WE ARE
    FIGHTING FOR PEOPLE WHO CAN’T FIGHT FOR THEMSELVES BUT THIS IS YOUR CULPRIT! YOU HAVE WAR MONGERS WHO ARE MAKING MONEY, HAND OVER FIST AS THIS WAR RAGES ON WITHOUT END. ” IT’S NOT WAR WITHOUT END, IT’S WORLD WITHOUT END”
    AT THIS POINT THOUGH, WHAT WOULD YOU BE BRINGING YOUR TROOPS HOME TO???? LOOKS LIKE A WHOLE LOT OF PROBLEMS THAT THEY WILL BE ILL EQUIPED TO HANDLE, HOMES GONE AND NO JOBS, WITH MEDICAL BILLS TO MATCH. YOU’RE GOING TO NEED OBAMACARE AND SOME MORE, MARK MY WORDS.

    WHEN THAT HAPPENS IT IS GOING TO BE A THIRD WORLD COUNTRY. BUT THAT DOSEN’T BOTHER ME SO MUCH. I’VE BEEN LIVING IN THIS COUNTRY THIRD WORLD ALL MY LIFE, AND I’M HERE TO TELL YOU. LIFE IS WHAT YOU MAKE IT, AND IT’S A GREAT LIFE, IF YOU DON’T WEAKEN, THANKS PRESIDENT OBAMA
    FOR HEALTHCARE!

    • barbm

      they can come home, be ent to the southern border, and shoot anything moving north.

    • LES

      WAR is good for the economy, plain & simple. Why do you suppose those that promised to end the wars we are in never do it ? Why do you suppose the Dems. kept funding the wars when they had a super majority but claimed they were aganist it ? Think of those producing war material would be put out of work and add to the unemployed as well as the returning service people. That would not look good for the present Admin.

      • 45caliber

        You are right. As one person said once, “You must export to balance the economy. And war is the best export since everything you export (ammo) is used immediately and more is needed.”

        • Dan Burke

          It isn’t just that war is profitable. Think of the Roman Empire. During the period we think of as the collapse of the Roman Empire, they were giving out tons of “benefits” to their citizens–just like modern progressives. How did Rome pay for all this? By taking. How do you “take?” Well, taxes and war. And how is the new Rome (America) paying for all this progressive largess? Taxes and war.

  • Alej

    “However, White House officials have warned that a failure to increase the limit would result in a ‘catastrophic’ economic crisis. ”

    Same thing the bastards said before unleashing the “stimulus,” which has accomplished little or nothing, except add to the nation’s debt.

    • Mick

      Alej says:
      January 6, 2011 at 9:55 am
      “However, White House officials have warned that a failure to increase the limit would result in a ‘catastrophic’ economic crisis. ”

      Same thing the bastards said before unleashing the “stimulus,” which has accomplished little or nothing, except add to the nation’s debt.
      ****************************

      You got it Alej …Cut off all the non necessary programs and put the savings against the national debt and see how fast America bounce back.

    • http://none Mike

      Alej, Its allways a crisis. Here a crisis there a crisis. Keep the gulible in fear and herd them the direction you want to go. This spewing toilet we call washington needs to be unstopped and flushed. Mike L.

    • oldtimeyman

      It seems everytime there’s a threat to shut down the government the word comes down that all unnecessary federal workers can stay home.

      Well, if they’re unnecessary at the time of the budget crunch, aren’t they worthless and unnecessary all the time?

      I would venture a guess that fully 50 percent of all federal workers could stay home permanently with no loss in federal services.

  • Lawrence Ekdahl

    We should raise the debt limit with the condition that the next budget must be not only balanced but also there must be a provision to begin paying down the national debt at arate which will be at least 100 billion above the interset rate.

    • independant thinker

      I would agree except for the fact that next budget folks would start calling for and most likely get a 1 year extension because of some made up “problem” or “emergency” and the next year the same thing and the next and the next forever.

      • http://none Mike

        Add infintium Agreed. No more raises untill you prove to me you know how to spend the money we gave you. Mike L.

  • s c

    Having certain people in the White House and Congress is akin to a new wife who’s been told that she never has to pay any bills, she can spend as much via her credit cards as she wants and that she will never be held accountable for her spending actions for as long as she lives.
    Is it possible that any kookoid, space cadet progressive twits on this website who still don’t understand what is involved in government debt, spending and RIDDING ourselves of SCUM who have no place in American politics?
    For those of you who are incredibly predictable, I mean EVERY politician who puts himself/herself before the American people. I am NOT talking about merely ‘Dems,’ libs, progressives, RINOs, ‘Republicans’ or the usual suspects. I mean ALL of them.

  • Sharon Cantu

    to JOPA: Please give us two specific examples of articles from FOX news that were not credible, and give us your specific proof of that.
    Thank you.

    • JimH

      Sharon, Any post with the name jopa in front of it has no credibility.

  • http://personallibertydigest tina

    “UNSEAT THE ILLEGAL MARXIST MUSLIM FRAUD IN THE WHITEHOUSE”

    • eddie47d

      The more you attack Obama with your lack of intelligence the more I hope he get’s re-elected. I’m not sure if I can stand Anymore years of Republican whining but it might be worth the show!

      • http://?? Joe H.

        eddie,
        That remark is exactly what I have come to expect of you. You let your petty party politics come before the good of the country and the hell with anything that matters!

  • chuckb

    good idea dennis, if the situation was in reverse that’s exactly what the demo’s would do, in a heartbeat.

  • http://personallibertydigest tina

    eddie47d-can your lack of intelligence prove “HE IS LEGAL”-I’m waiting.

  • http://personallibertydigest tina

    “The Nazi healthcare bill and the Nazi Food Safety bill”DEFUND!

  • http://personallibertydigest tina

    “tHE stealth jihadist in the whitehouse needs to be removed,and everything he has touched ink to repealed” ASAP

    • http://?? Joe H.

      tina,
      Starting with Nobama care!! Can you believe the dems saying that repealing it will cost 135 million??? What pure bull crap!!

      • http://personallibertydigest tina

        you’re right Joe-they are simply amazing. “The New Democratic Socialist Party” if their lips are moving they are lying. We need McCarthyism back NOW.

  • woodsman

    NO MORE PORK, NO MORE SPECIAL DEALS, CLOSE OUR BORDERS, NO MORE BENEFITS TO ILLEGALS IMMIGRANTS IN THE US, STOP ALL FOREIGN AID TO ANY COUNTRY THAT VOTE AGAINST US IN THE UN, NO MORE MILLION $$$ VACATIONS, AND CLEAN HOUSE. WE NEED TO TAKE CARE OF OUR OWN. TO HELL WITH OTHER COUNTRIES.

    • Mick

      woodsman says:
      January 6, 2011 at 8:32 pm
      NO MORE PORK, NO MORE SPECIAL DEALS, CLOSE OUR BORDERS, NO MORE BENEFITS TO ILLEGALS IMMIGRANTS IN THE US, STOP ALL FOREIGN AID TO ANY COUNTRY THAT VOTE AGAINST US IN THE UN, NO MORE MILLION $$$ VACATIONS, AND CLEAN HOUSE. WE NEED TO TAKE CARE OF OUR OWN. TO HELL WITH OTHER COUNTRIES.
      *****************************
      woodsman I am all for the above and let’s teach many of our welfare recipients that work (When restored) will be their salvation not the government……….

  • JUKEBOX

    Once again, the duplicitous Obama shows his real character. In 2006, he bloviated against raising the debt limit while he was still a Senator, and voted against. Today he flip flops worse than a catfish on a river bank, and is wanting to raise the debt limit.

  • http://sanchezmanuel7@COMCAST.NET. sanchezmanuel7@comcast.net

    WE ARE SENDING TOO MANY MEN AND WOMEN TO WAR AND THAT IS COSTING TRILLIONS OF DOLLARS. THAT IS WHERE ALL THE MONEY IS BEING SPENT.
    WHEN THE WAR STOPS THEN WE WILL HAVE A CHANCE TO REPLENISH OUR
    NATION. My daughter will be a phisical therapist in five months and
    and I would like to think she has a good chance in life MAKING A
    LIVING. ON SOME OF THESE ARTICLES YOU HAVE WRITTEN I HAVE NOT BEEN ABLE TO HEAR THE SOUND. IT NEVER HAS WORKED AND I STILL HAVE
    NOT FIGURED OUT HOW TO GET THE SOUND ON THIS COMPUTOR. The only
    thing I have figured out is how my spyware works.

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