Posted on 01/03/2011 4:10:50 AM PST by tobyhill
A fight over the budget loomed on Sunday as a top aide to President Barack Obama warned of catastrophic consequences if Republicans follow through on threats to reject an increase in the nation's borrowing limit.
Republicans, who will take control of the House of Representatives this week, are demanding spending cuts to curb the $1.3 trillion budget deficit and several have said they would oppose a higher debt ceiling if Obama does not agree to a range of painful cuts.
White House economic adviser Austan Goolsbee accused Republicans of "playing chicken" with the nation's financial credibility.
"This is not a game. You know, the debt ceiling ... is not something to toy with," Goolsbee told the ABC News program "This Week." "If we hit the debt ceiling, that's ... essentially defaulting on our obligations, which is totally unprecedented in American history."
(Excerpt) Read more at reuters.com ...
Looks to me like they've been resounding successes, for the sponsors of those who wanted them in the first place.
This year the State of the Union Address falls on Groundhog Day? (February 2nd) Think of the irony...
One event involves people looking to a minimally intelligent creature, with a demonstrated propensity for being wrong when it prognosticates about the future. Some of his worshippers actually make life plans based on what they learn from this creature.
The other event involves a groundhog.
Interesting Dick Morris speech about the GOP strategy in the coming year. If you want to get to the meat of it, skip ahead about 20 mins.
http://www.youtube.com/watch?v=GC0txKMd3ec&feature=player_embedded
Thanks for posting this!
I am totally pumped after listening to this strategy and pray the Republicans can hold to it. Obama is toast and so is the entire Democrat party!
Just awesome...
This morning, Fox news Martha MacCallum was interviewing Doug Schoen form the Impeached President Clinton administration and he said we had to “raise the debt limit to get spending under control”. She did not challenge him on this.
Can someone explain the logic in this?
I wonder if he has this knowledge because he has actually talked to Republican leadership in Congress and has been told this is what they are going to do -or- if these are his predictions about what the Republicans will do. I hope the former. Dick Morris' predictions are always interesting and always wrong.
According to the speech referenced above, he is consulting for the GOP leadership.
Gallup poll shows Americans want spending cuts, not stimulus spending
http://www.gallup.com/poll/144956/Americans-Prioritize-Deficit-Reduction-Economic-Strategy.aspx
Catastrophic for leeches
If they raise the limit there should be huge cuts made in the budget, otherwise we are just continuing down the same path on a beer budget with champagne taste and a big credit card.
Very Simple...
Send the Debt Ceiling increase attached to a COMPLETE REPEAL of ObamaScare to the Senate...
And tell Pres Obo this is the ONLY bill that will come from the House...
The guy who ran the Chicago Schools is now the Secretary of Education. Where were the Senate Republicans when this guy was nominated?
I guess that’s what I get for not listening to the whole speech. That’s good news. I hope Republicans stick to their guns.
I like the way you think.
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