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Boehner Not Looking for Protracted Debt Ceiling Fight

The grand return of the Grand Bargain?

by
Bill Straub

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October 8, 2013 - 12:03 am
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WASHINGTON – With official Washington already partially shut down over an Obamacare funding dispute, House Speaker John Boehner is searching for a way to avoid a looming battle over raising the nation’s $16.7 trillion debt ceiling.

Boehner (R-Ohio) is meeting with fellow Republicans in group settings, taking the temperature of members on how best to proceed on the bottled-up spending package, known as the continuing resolution, while also determining what to do about clearing the way so Uncle Sam can borrow the money necessary to pay its bills.

Boehner is telling fellow GOP lawmakers that he will not permit the U.S. to default on its obligations, an anticipated consequence if Congress fails to raise the debt ceiling by around Oct. 17, according to Treasury Secretary Jack Lew.

How that goal might be achieved remains unclear. Boehner and President Obama have failed to reach accord on a spending plan, with House Republicans to this point insisting that the White House and Senate Democrats agree to either defund or postpone by a year the implementation of the Affordable Care Act, the healthcare law that stands as the most significant achievement of the first five years of Obama’s administration.

The standoff has resulted in the partial government shutdown with no resolution in sight. The debt ceiling debate could complicate matters even further.

Lawmakers who have met with Boehner acknowledge that the Speaker has expressed a willingness to waive the unofficial Hastert rule, named after former House Speaker Denny Hastert (R-Ill.), who refused any legislation to the House floor for a vote unless it carried the support of a majority of his caucus. If he follows that route Boehner would have to rely on support from opposition Democrats to get the measure through.

But publicly at least the Boehner team is holding the line, insisting that Democrats meet with GOP lawmakers at the bargaining table to hash things out. Thus far Obama and Senate Democratic Leader Harry Reid, of Nevada, have argued that the House and Senate should pass spending legislation and raise the debt ceiling before talks begin anew.

Some members of the Republican caucus say Boehner is considering revisiting what became known in previous negotiations as “The Grand Bargain,” a massive agreement that could contain spending and budget cuts, the debt ceiling and other items on the Republican wish list. That gambit has, however, failed before.

“Speaker Boehner has always said that the United States will not default on its debt, but if we’re going to raise the debt limit, we need to deal with the drivers of our debt and deficits,” said Michael Steel, a Boehner spokesman.

After emerging from a meeting of the House Republican Caucus on Friday, Boehner indicated he is still seeking to gain some leverage in the debt ceiling fight before yielding any ground.

“I don’t think we should default on our debt,” he said. “It’s not good for our country. But after 55 years spending more than what you bring in, something ought to be addressed. I think the American people expect if we’re going to raise the amount of money we can borrow, we ought to do something about our spending problem.”

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Top Rated Comments   

Accepting the premise of the administration's argument eviscerates the entire concept of a debt limit. If it is not an occasion to revisit spending levels and priorities, what is it?
49 weeks ago
49 weeks ago Link To Comment
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All Comments   (12)
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just as Helen explained I'm taken by surprise that some one able to get paid $7186 in 1 month on the internet. useful content... www.Fb39.Com
48 weeks ago
48 weeks ago Link To Comment
They, Boehner and Obama are playing to an old script.

Obama is flexing his muscles. Boehner comes to the playground and flexes His puny little muscles and SAYS how HE's going to SAVE the children from the playground bully. His gang egging him on in his tough talk.

Tthen after they get the audience they know is out there, the one which wants and doesn't want a real battle between the two they "reach their eleventh hour Compromise".

And as is the style the "Compromise" means John Boehner as leader of the Gang of the House in Congress gives it all up. While the other one, the real threat walks away, hands in pockets, smirk on face with I've done it again. I WON tp the backslapping of his gang and members of the "opposition?" of John Boehner' House. Assuring they'll "live to fight another day".

Been there done that. Too often since 2008. John Boehner merely replacedment for N. Pelosi with a different - softer, more feminine?, style. But always puppy dog of Obama.
48 weeks ago
48 weeks ago Link To Comment
Bipartisan = Dems get their way AGAIN!!

DON'T DO IT!!!

The Republican 'leadership' disgusts me.
48 weeks ago
48 weeks ago Link To Comment
No negotiations, no comprises from the democommies, NO MONEY.

Just how is the economy going to get worse than Obozo has already done to it?
48 weeks ago
48 weeks ago Link To Comment
Boehner always rolls over and lets obama use us as he will. Our no guts Speaker is a bozo; a worthless person lacking both courage and morality. We can NEVER begin to pay our unfunded liabilities and Mr.B knows that. We must not only immediately begin to live within our means, but also to pay off the Debt; about 2/3 rds of which is owed to various government agencies and on which we pay gigantic interest to the individuals and banks owning the untraded Federal reserve stock. We pay them to print the money, borrow it from them and pay them interest on it. That is a gigantic criminal conspiracy and it is 100 years old. and going strong. Read Servando Gonzalez on this scam.
49 weeks ago
49 weeks ago Link To Comment

Accepting the premise of the administration's argument eviscerates the entire concept of a debt limit. If it is not an occasion to revisit spending levels and priorities, what is it?
49 weeks ago
49 weeks ago Link To Comment
"Lew emphasized that raising the debt limit does not provide the federal government the ability to spend more money – just pay its bills."

Seriously? We're talking about paying bills with BORROWED MONEY. Even my fourth grader could figure out that this is nothing but incurring more bills that have to be paid; i.e. SPENDING more money. Try paying your master card with your visa card and vice versa over and over and over. See where it gets you. Sorry folks, but default and bankruptcy is inevitable. Let's just get it over with, so at least my kids, grandkids and great grandkids won't be enslaved to the debt incurred by the selfish baby boomers who got us into this mess.
49 weeks ago
49 weeks ago Link To Comment
The baby Boomers had nothing to do with this theft which began in 1913 with the passage of the act establishing the Federal Reserve. President Wilson, Aldrich, the Rockefellers, Rothschilds, Morgans and a host of international bankers organized, through Col.House, a criminal conspiracy to enrich themselves and conned it through Congress. We pay them to print worthless money, borrow it from them and pay them interest on our money. Unbelievable but true. The day we end the Fed will be the day we begin to recover from our monetary woes.
49 weeks ago
49 weeks ago Link To Comment
We have the baby boomers to blame for Medicare, which is nearly as large as our entire defense budget. The entitlements added by FDR and LBJ are playing a large part in financially ruining this country.
48 weeks ago
48 weeks ago Link To Comment
"We have the baby boomers to blame for Medicare..."

They couldn't yet vote when Medicare came into being.
48 weeks ago
48 weeks ago Link To Comment
Perhaps, or perhaps not. Be careful what you wish for, in case you get it.

One of the intentions of a central bank is to act as a backstop, financially. Without it, when a deflationary spiral occurrs it can ( but not every time ) take a generation or more to recover. You think we have a problem with a demagouge now ? The last time it took a world war for us to get back on track, although the good news then was everybody else was bombed back into the stone age.

Have a look through Milton Friedman's book, Monetary History of the US from 1870 to 1960. Yeah, he was working for the fed when he wrote it. But if you want to re-interpret the data you'll be opposite other people who are really smart at that stuff.

And yeah, there are people that understand the system who get rich. Hopefully they spend it. Please let us all know your better method. I've thought about it for more than a few years and haven't come up with anything than tyranny ( just put me in charge, I'll take care of everything, I promise ). But I never said I was the brightest bulb in the box.

A solution to any problem invariably creates other problems. Choose wisely.

PS, what the baby boomers did wrong is get born all at the same time. 1960 for me, a little late. Mark could have it right, however. What is going on now seems too close to Germany 1920's. People who should know better continue to argue for the expedient path. It's worked before, and will continue to do so. Right until it doesn't. Classic bubble mentality.




48 weeks ago
48 weeks ago Link To Comment
"But after 55 years spending more than what you bring in, something ought to be addressed. I think the American people expect if we’re going to raise the amount of money we can borrow, we ought to do something about our spending problem.”

Mastering the art of understatement?
49 weeks ago
49 weeks ago Link To Comment
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