"hey Nadler, grab anutter donut why don'tcha"
Posted on 08/10/2011 6:06:39 PM PDT by Libloather
Dem lawmaker looks to kill the debt limit
By Peter Schroeder - 08/10/11 03:39 PM ET
Rep. Jerrold Nadler (D-N.Y.) wants to do away with the debt limit, and will introduce a bill to do just that.
Calling the debt limit “truly arbitrary” while blasting Republicans for playing a “dangerous game of chicken” with it, the liberal congressman said Wednesday he was drafting a bill to eliminate it.
"Let us abolish the debt ceiling, which has become a serious threat to our economic future and a pawn for Republicans intent on holding the economy hostage to impose their own extreme agenda,” he said in a statement.
Nadler also set his sights on credit-rating agency Standard & Poor’s, which last Friday issued the first ever downgrade of the nation’s once-sterling credit rating, setting off a tumultuous few days for financial markets.
S&P cited the heightened political drama that surrounded the debt-limit debate as a primary reason for the downgrade from AAA to AA+. It blasted policymakers for using the debt limit and threat of default as “political bargaining chips,” while noting that the two parties have shown little to no ability to make large steps to address the nation’s broader fiscal challenges.
S&P’s decision was “outrageous and unprecedented,” Nadler said, adding that the agency was in no position to judge after the financial crisis.
“This from S&P, which has no credible standing to downgrade anything and was itself complicit in creating the current meltdown by enthusiastically bestowing high ratings on risky mortgage-backed securities,” he said.
While blasting S&P, Nadler’s bill actually hits the same note as fellow rater Moody’s Investors Service.
In the midst of July’s debt-limit drama, Moody’s suggested Washington should scrap the debt limit altogether, saying it created “periodic uncertainty” as lawmakers publicly haggled over hiking it. Rather, it offered suggestions for how other nations keep a tight grip on their finances that would not come with the same level of distressing theatrics.
GONADler needs to use some of his own money to buy himself a brain.
The leftards want so badly to destroy this country. They have to be stopped.
Absolutely unconstitutional. It would transfer Congress’ power of the purse to the Executive.
Not that a demo-pig cares about that.
Nadler-Idiot will fail.
"hey Nadler, grab anutter donut why don'tcha"
dats scary
Gerald Nadler...the poster boy for self-control and moderation wants to treat the Treasury like an all you can eat buffet...go figure.
We’ll need to build 2 x 8 scafolding to hang this fat lardass.
We give up the debt ceiling when you lose 300 lbs. of ugly fat and do Nutri System commercials. Typical commie solution to a federal problem.
Freight elevator behind him ?
it might be his Segway
Do you think I can get Visa to do away with my credit limit and just let me run it up as high as i want? After all, why should I be burdened with a limit on what I can spend? I will pay it all back eventually...I promise! I just need to get through the next 30-40 years or so.
The only congresscritter who's waist size is bigger than his height.
The irrelevant Amish new Yorker is babbling for coverage.
He has been rendered mostly harmless by the last election
Why is Nadler wasting his energy? There is no debt limit. Everybody knows that. Every time they need to, they raise it again.
Why is Nadler wasting his energy? There is no debt limit. Everybody knows that. Every time they need to, they raise it again.
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