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Posted on 07/16/2011 3:47:55 PM PDT by ejdrapes
Is the GOP about to cave on taxes? [snip] House Speaker John A. Boehner of Ohio underscored the point to dispel the notion that failure to allow more borrowing is an option. "He said if we pass Aug. 2, it would be like 'Star Wars,'" said Rep. Scott DesJarlais, a freshman from Tennessee. "I don't think the people who are railing against raising the debt ceiling fully understand that." The warnings appeared to have softened the views of at least some House members who, until now, were inclined to dismiss statements by administration officials, business leaders and outside economists that the economic impact would be dire if the federal government were suddenly unable to pay its bills. Freshman Rep. Steve Womack (R-Ark.) said the presentation about skyrocketing interest rates that could result from downgraded bond ratings was "sobering."
Rick Moran
July 16, 2011 At a closed-door meeting Friday morning, GOP leaders turned to their most trusted budget expert, Rep. Paul D. Ryan of Wisconsin, to explain to rank-and-file members what many others have come to understand: A fiscal meltdown could occur if Congress fails to raise the debt ceiling.
[snip]
(Excerpt) Read more at americanthinker.com ...
Does this say Paul Ryan advocated raising taxes? Because the headline suggests that the outcome of all this angst is that the GOP will raise taxes. So, where does it say he’s advocating raising taxes?
`If they are that scared why did they start this in the first place? Lame.
Everyone has always known that it will eventually be raised.
The only doubts are what the Republicans would extract in exchange for raising it.
The cited article has a sensational headline that isn't supported at all.
Time for the government to eat its peas.
The people have had enough of them.
Deal with it.
Maybe it’s time we held a Peas Rally, send a can of peas to Obama to let him know we’re not in the 80% that want our taxes raised.
They’re 100% correct as to what happens if noting is done. The key is to get far more cuts that any hike in the ceiling. Had they cut spending several months ago it need not have come to this but now,how much spending can they cut in 2 weeks without wrecking the economy?Any hike can be temporary. Let them sign a bill giving 2T now with the mandate that the treasury has to retire 1T over the next 12 months and another 1T the 12 months following. By that point much less spending so they can reduce the debt every year.
The only other option is standing strong and hope Obama caves in on enough spending today to buy another few months. I honestly believe he would rather let all hell break loose rather than give up Obamacare and scale back other programs immediately.
Who blinks first?
If any of my Republicans vote for raising the Debt Ceiling or Raising Taxes I will vote against them.
CASE CLOSED!
Bye, bye GOP if this happens.
Currently the government can borrow money on a 5 year note for less than 1.5% per year if the debt ceiling is raised. The exact rate last Friday on the five year Treasury Note was 1.446% [This is money that the government borrows from banks, institutions, individual buyers, other governments.] This rate is LESS THAN INFLATION. We can be using this money to repair our failing bridges, roads and other infrastructure. Of course, we should cut wasteful spending and encourage private support for things like our space program that have commercial potential.
It doesn’t. But as long as the GOP agrees with the notion that not raising the debt ceiling = 2008 all over again then Obama will hold out and push even harder for “revenues” aka tax increases. I agree with Gingrich - instead of spending all this time meeting with Obama the House should start passing things and force Obama to veto it. I hear they’re going to vote on cut, cap and balance next week. About f’ng time I say.
What happens if nothing is done? There doesn’t seem to be agreement that the world will blow up if the debt ceiling isn’t increased. If we just cut spending NOW why would we even need to raise it?
Good point scream, it appears to be more of a "deal cutting, back scratching, self protecting, political move" than anything else IF true.
I find this really hard to believe, as he has said in press conferences "no it wont".
I hate to say it - but it ain’t the ceiling - it’s the spending.
Put the ceiling wherever it needs to be to cover promised spending “TODAY” but chop with an ax any and all spending bills as of today.
No, Ubama didn't say "peas". He said "piece". Ubama wants the Republicans to "eat their piece", like a suicidal cop.
I fully expect the Republicans to cave and thus set the stage for four more years of Obama. We have little or no Statesmanship in our government.
Our economy is a wreck because of irresponsible spending, mainly by the Democrats. Giving in now sets the stage to give in again and again until our economy collapses.
Are we just saying we will do it "right" next time, but for now we blink and find more excuses, rationale, and explanations for why we must continue irresponsible spending, borrowing, printing, and taxing.
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