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Posted on 01/11/2013 1:19:24 PM PST by mdittmar
Washington, D.C. – Senate Democratic Leaders sent a letter to President Obama today urging him to consider taking unilateral action to protect America’s economy in the face of continued intransigence and obstruction from Republicans.
“In the event that Republicans make good on their threat by failing to act, or by moving unilaterally to pass a debt limit extension only as part of unbalanced or unreasonable legislation, we believe you must be willing to take any lawful steps to ensure that America does not break its promises and trigger a global economic crisis — without Congressional approval, if necessary,” the leaders write.
Senate leaders made clear their willingness to pursue balanced approach to cutting spending and reducing our deficit, but reiterated their insistence that any approach be a balanced between smart cuts and revenues from the wealthiest Americans.
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The full text of the letter is below.
January 11, 2013
The President
The White House
Washington, DC 20500
Dear Mr. President:
As you know, Republican leaders are threatening to bring on an economic catastrophe unless Democrats make deep cuts to Social Security and Medicare.
This threat is outrageous and absurd. Defaulting on America’s legal obligations would undermine the American economy and spread global economic havoc. Just two years ago, Speaker Boehner himself admitted that failure to raise the debt limit “would be a financial disaster, not only for us, but for the worldwide economy.”
It is hard to imagine that the Speaker and Leader McConnell would really follow through on their threat to let our nation default on its debts. They are responsible leaders who know better. Sadly, some of their Republican colleagues do not. Therefore, we believe that you must make clear that you will never allow our nation’s economy and reputation to be held hostage. In the event that Republicans make good on their threat by failing to act, or by moving unilaterally to pass a debt limit extension only as part of unbalanced or unreasonable legislation, we believe you must be willing to take any lawful steps to ensure that America does not break its promises and trigger a global economic crisis — without Congressional approval, if necessary.
As you know, increasing the debt limit does not authorize new spending. It merely ensures that we meet our existing obligations. Those obligations were incurred by both Republicans and Democrats, and are the responsibility of all Americans.
Accordingly, we hope that you will continue to ignore claims that agreeing to an increase in the debt limit would somehow represent a concession by Republicans to Democrats. All Americans, Democrats and Republicans alike, have a stake in ensuring that our country meets its legal obligations. Financial markets have long viewed securities backed by the full faith and credit of the United States as the most trustworthy in the world. This lowers borrowing costs for homes, cars, and college for all Americans and strengthens our economy. If we violate that trust for the first time in history, we will never fully regain it, and every American will suffer.
For all these reasons, we support your view that an extension of the debt limit is not something for which Democrats should have to negotiate. At the same time, as a separate matter, we agree about the importance of developing a broad, bipartisan agreement on fiscal policy that strengthens our economy and reduces our long-term budget deficit.
As you have said, any such agreement must treat all Americans fairly and include not just responsible spending cuts but additional revenue from the wealthy and the elimination of wasteful tax breaks. It would be wrong to slash earned benefits for seniors and middle class families, while allowing corporations, millionaires, and billionaires to continue to exploit wasteful tax loopholes. We therefore hope that you will continue to insist that the entire budget be on the table, and that any agreement be fully balanced and fair.
Thank you for your consideration of our views.
Respectfully,
Senator Harry Reid
Senator Dick Durbin
Senator Chuck Schumer
Senator Parry Murray
A PDF of the letter can be found online here.
Hey Senators, up yours. Sincerely, me.
“Boehner’s office called. He just wet his pants.”
Someone shove a catheter up his .... and tell him that was to keep him from embarrassing himself. Then explain that what gets shoved next on the opposite side he will remember forever if he doesn’t grow a brass pair.
Republican leaders are threatening to bring on an economic catastrophe unless Democrats make deep cuts to Social Security and Medicare.
Deep cuts to SS and Medicare? Is that even true?
___________________________________________________________
Deep cuts to entitlement programs are being asked for. No one has the cajones to say which entitlements they want to cut. Neither the Republican elite nor the Dem’s are willing to name any specific cuts to entitlements they would agree to. Everyone is just nipping around the edges and not being serious about deficit reduction.
Annoying doesn’t begin to cover it.
Almost everyone agrees there is a problem...it’s math...it’s not tough. You spend $5 but only $4 comes in as revenue. There are diminishing returns to having too high of taxes (revenue). So duh, you need to spend less.
And Jack Lew in Treasury is the man for the job——http://theconservativetreehouse.com/2013/01/11/my-case-against-jack-lew-lews-a-liar-and-he-fits-right-in-what-do-lew-brennan-and-hagel-have-in-common/
Majority Leader Harry's transgression is that for over 1300 days, he has failed to pass a budget. In fact, there is no evidence he has even tried. This is against the law. Federal law clearly requires the Congress to pass a budget every year.
I'm going with Felony! And, he's a repeat offender.
YOU try this and see if you are not in jail!
DO NOT RAISE THE DEBT LIMIT! DO NOT RAISE THE DEBT LIMIT!!! DO NOT RENEW THE CREDIT CARD OF THE COMMUNIST OBAMA! Enough said!
ANYTHING BUT SPENDING CUTS THAT IS...............
Shouldn’t all these letter-sending reprobates be in prison???????
Shouldn’t all these letter-sending reprobates be in prison???????
PERHAPS SOME TAR AND FEATHERS.
They were out all day long to shop for clean underwear; wasted half their time hunting for the men's area in the lingerie section.
Well then Obama better not default on them. When bonds become due, pay them off first before throwing money away on Obamaphones, solar energy subsidies, and food stamps.
Dear Emperor Obama,We, the undersigned, urge you to completely upend the legislative process, declare yourself King, and make Royal Edicts to govern from now on.
After all, we also despise America, and wish to see us lapse into a dictatorship. We urge you to look at the former Soviet Union as a guide.
Thank you for your consideration of our views.
Respectfully,
Senator Harry Reid
Senator Dick Durbin
Senator Chuck Schumer
Senator Parry Murray
In the event that Republicans make good on their threat by failing to act, or by moving unilaterally to pass a debt limit extension only as part of unbalanced or unreasonable legislation, we believe you must be willing to take any lawful steps to ensure that America does not break its promises and trigger a global economic crisis -- without Congressional approval, if necessary.Partisan Media Shills will kick this down the memory hole, no matter how many times its revived during the 2014 midterms campaigns -- but it has to be brought up, and hammered on, all the way to the wire.
If that demonic little Marxist Obama dares try to bypass Congress and unilaterally raise the debt limit, then the House needs to immediately draft up articles of impeachment against the Kenyan usurper. The GOP had BETTER be ready to fight an all-out war over this. I’m not kidding.
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