Skip to comments.Republicans Mulling Short Extension of Debt Cap (They're wimping out alert)
Posted on 06/10/2011 4:29:58 AM PDT by Zakeet
As the deadline for raising the $14.3 trillion debt ceiling approaches, House Republicans are discussing a temporary extension of the cap so the country can avoid default and they can continue to negotiate large spending cuts with the White House, the FOX Business Network has learned.
The discussions among key Republican staffers are by no means written in stone, according to people with knowledge of the matter.
But they do reflect the tightrope Republicans must walk if they dont reach an agreement with the Obama Administration. Treasury Secretary Tim Geithner has said that if the ceiling isnt raised by August the country would effectively run out of money and wont be able to pay back bond holders.
Staffers concede that even a hint that the country could default on its debt could severely rattle the markets, causing not just stocks to plummet, but also make it difficult for private businesses to float bonds such as commercial paper that finance short-term spending needs such as payroll. But Republicans also want to force the administration to make deep spending cuts that could put a dent in the countrys massive debt load.
One possible solution is a temporary raising of the cap; one house staffer told FOX Business that a 48-hour or 72-hour extension has been discussed as a way to keep negotiating and to keep pressure on the White House to make large-scale spending cuts.
This would be a temporary move pending a massive agreement by both sides, said one staffer who spoke on the condition of anonymity.
The notion of a temporary extension indicates just how worried Republicans are becoming about the possibility that playing hard ball with the White House over the debt cap could weaken an already weak economy.
(Excerpt) Read more at foxbusiness.com ...
... and we solemnly pledge that if we are elected, any failure to cut spending will be a temporary move pending a massive agreement by both sides
They are not wimping out. Please read the article. The short term raise in the debt ceiling would only happen if there are spending cuts. I am so sick of people passing judgement based on a headline.
They are wimping out. How about no raise in the debt ceiling AND spending cuts?
FoxNews put the Big Lie right in the very first sentence. The truth is that the country WILL NOT DEFAULT if the debt ceiling is reached. It is a Win-Win for Conservatives. By not raising the debt ceiling, we will automatically get $1.6 trillion in spending cuts, and interest rates will no longer be tied to federal borrowing. Unfortunately, John Boehner is not a Conservative.
This is exactly how they caved on the 2011 Continuing Resolution, passing extensions until they lull everyone into complacency.
Grow some balls!
Git 'er done!!
You cowards have almost two months to get this done. Don't tell me it can't be done. Lay it on the line. Make your proposal. Force the RATS to respond.
I wonder how many Pubbies have a Weiner problem...?
Here’s a suggestion for the 0bama regime: instead of giving money to Greece for their socialists, let’s keep it and pay OUR bills!
I didn't see that in the article.
I did see that, "[An] extension has been discussed as a way to keep negotiating and to keep pressure on the White House."
In other words, an extension would happen if the Rats continue to talk about spending cuts. On the farm where I grew up, talking is by no means the same as doing, hence my remark about the Pubs wimping out.
The Pubs can BS till the cows come home, but they never, ever have the stones it takes to deliver.
“I am so sick of people passing judgement based on a headline.”
I totally agree!!
Ok... and when the dems again stonewall.. the geldings will hand them yet another “temporary extension.”
Boehner: “We have a deal.”
Who needs a headline when we can let previous experience be our guide?
How about all of them are fired and take their huge staff with them.
Idiots... everything is always “temporary.” 0bama will just get the GOP to raise the debt ceiling $1 at a time if must.
Today's note to republicanans... The German credit rating agency Feri and conscious, fiscally responsible, voting Americans are closely watching what you do.
When it is all done... you will see how wrong you are. I am praying that you are correct... but I know that they are who they are and we will get a knife in our backs... watch.
“a temporary extension of the cap”
Here we go again. I suppose because Bonehead thought it worked so well last time.
Next congress, Bonehead and Mitchie McConnell have to be replaced by vertebrates.
The sad part is that if they did nothing and we hit the debt cap, we’d have a month or two or three where we would have revenue to cover debt, interest and a lot of spending and would simply have to cut spending. It could be done. A bunch of Obama public works projects would grind to a halt but who cares? Parks would get shut down but who cares? If Americans can’t live without going to a national park for a couple months, we really are doomed.
Or they are trying to spin this out so it bumps up against November 2012. Again they seem to be taking more Dick Morris advice that is too cute by half.
Politics is about compromise.
You start high in the negotiatons, then you settle at something less.
Why would you think you would get 100% of what you want?
This agreement sounds to me like more of the same, we raise it 2.8T while postponing the cuts till 2050 or some such.
These guys are there to simply do one thing, stay in office. Were they there as part time consultants or contract employees rather than full time drones, they would do what they have to do which is what is best for the country, not their reelections. Sorry, that is what they signed on for, not to line their own pockets with our money while building up nest eggs of post employment lobby jobs which are nothing more than delayed bribes.
Exactly...Thanks for expressing my thoughts....
Boehner channelling Chamberlin....
The GOP is not wimping out. The GOP is just doing what they always do which is to lull so-called conservatives to sleep with platitudes, slogans, and empty promises while they work behind the scenes with their Democrat pals to implement the Globalist Agenda. They WANT to run the country into the ground.
(They’re wimping out alert)
It was never a question of if but when.
Trump is preaching what the independent voters want to hear- not only that the GOP is a sell out but Trump has the nads to say it outright.So Palinbots will write in Palin.Independents will vote for anybody but Obama or Palin (SEE TRUMP), a few will vote for Perry or Romney and Obama wins re election.
Crybaby golfed with TheWon and sold out his country.I believe all in the name of global order and economy.
Fire all incumbents unless they have a stellar conservative record.
That was easy. . Next.
That's not entirely true. Politics is about knowing when you can compromise and when you have to stick to your guns. Now is one of those times to dig in your heels and say "enough, no more". It's far past time to draw a line in the sand and then defend it. Yes, this will more than likely lead to another Civil War of one sort or another, but some things are worse than death. Are you willing to consign your children and grandchildren to a life that results in them being little more than serfs because you wanted to compromise?
You start high in the negotiatons, then you settle at something less.
Why would you think you would get 100% of what you want?”
Stop that... boehner pledged his solemn word that he would NOT raise the debt ceiling unless there were an equal or GREATER amount of real spending cuts when compared to the increase. When I am told something in concrete solemn Honor pledges... I expect a man's word to be made good. I didn't promise this... boehner did. You and others like you, have enabled these professional criminals in DC to put us into debt to the tune of 66.7 Trillion dollars in unfunded mandates (money collected for one purpose and spent on another) and 15 Trillion in deficit spending debt... and that is more than the entire GDP of Planet Earth... then your damned straight I want no compromise. One cannot compromise with communists. Compromise has brought us to the brink of destruction. If you cannot see this then you are not trying to see anything but unicorns and skittles.
I agree with you 100%... they are criminals of the 1st order.
Unelect any traitor that signs up for this crap.
They haven’t figured out yet that this White House will NEVER compromise with them?
Let the system crash - it’s going to happen sooner or later anyway.
I'm not sure what separates political "Honer pledges" from political "non-Honor pledges".
All politicians make promises. And they make them publicly. Probably 1% of politicians get what they want. Pawlenty is promising 5% growth, for example. If he ever got elected I wouldn't crucify him if we got 4% instead.
There WILL be compromise, and both sides will howl. But in the end the GOP WILL get substantial spending reductions which will set us on the right path which is exactly what's needed. I don't need to get it all next week. But I DO need to know that we will no longer be going down Obama's road.
You're not alone.this, something's wrong with your ears.
Or you can get raw with these strings. Either way, the violin is sweet yet lethal.
What part of THERE CAN BE NO COMPROMISE WITH COMMUNISM don't you understand??? Why is it republicans are the ones always selling their souls to compromise with dims? Don't you know that the left has destroyed this once great Nation through the use of INCREMENTALISM? Compromise is how INCREMENTALISM succeeds... NO MORE... NEVER AGAIN!
Incrementalism can succeed upwardly or downwardly.
This time it will succeed downwardly. There WILL be some compromises ahead, but the deals will work to our favor. There will be far less compromise if the GOP takes the Senate and Presidency. I don't expect the GOP to get everything they want on this current deal but I do think they are going to get a hefty win.
Purists can win a battle here or there but they will never win a war.
We have a spending problem and incrementalism will NOT work... there is not enough money and not enough time. You are not absorbing anything that I have told you... you are not absorbing how much debt we have... if you were... you would know that we cannot possibly pay it off... we can't grow out of it... so we must slash spending now... kick out all illegals sucking at our sweet fountain... we must cut entitlements to affordable levels and your plan has been tried in the past... your plan is what the criminals in the republican leadership have done for 45 years... and there will be a war... we are going to war with YOUR IDEOLOGY and YOUR plan first... and if we have to destroy the republican party to save America... well that is a small price to pay.
You also have no idea of what the election of 2010 was all about... it was not about republicans and incrementalism... it was about killing obamacare and cutting our spending and reducing the deficit. It was about stopping our march to marxism! Guess what??? Your government lied to you... and you are woefully uninformed and unprepared. Wise up... you can't stop what is coming... either get on the train or find yourself under it.