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Friday, January 18, 2013

The GOP's New Idle Threat: a Three Month Debt Ceiling Extension

     They've basically admitted that debt ceiling chicken wasn't working out.

     All that's left are the stages of grief

     

      However, because they are still stuck in the phase of denial, they are still trying to convince themselves that this will get them something. So now it's about a short 3 month extension and then they will force the Dems to pass a budget-with lots of cuts, of course.

     "House Republicans have a new debt ceiling strategy."

      "Instead of using the debt ceiling as leverage to extract immediate spending cuts, they will use it to pressure Senate Democrats to pass a budget resolution."

      "Wrapping up their annual retreat on Friday, GOP leaders unveiled their plan: they intend to pass legislation that raises the country’s borrowing authority for three months, and establish that if Congress fails to approve a budget in that time, members will not be paid."

      "In Speaker John Boehner’s words: “No budget, no pay.”

      “Next week, we will authorize a three month temporary debt limit increase to give the Senate and House time to pass a budget,” House Majority Leader Eric Cantor (R-VA) said in a statement. “Furthermore, if the Senate or House fails to pass a budget in that time, Members of Congress will not be paid by the American people for failing to do their job.”

     "The change in strategy reflects a major concession from the House GOP’s demand that each dollar of debt limit increase come alongside a dollar in spending cuts, and it’s not yet clear that conservative House members will be on board. But it’s a sign that although GOP leaders saw their initial position as unsustainable, they aren’t prepared to fully back down on their desire to use the debt ceiling as leverage to move the needle on budget issues."

    “Before there is any long-term debt limit increase, a budget should be passed that cuts spending,” said Boehner. “The Democratic-controlled Senate has failed to pass a budget for four years. That is a shameful run that needs to end, this year.”

     http://tpmdc.talkingpointsmemo.com/2013/01/house-gop-debt-limit-budget.php?ref=fpa

     I guess they don't want to take the bandaid off quickly. The Dems aren't interested in doing this for just 3 months. If they refuse to agree to it what then? Will the GOP refuse to raise it without the short term limit? If so they're doing what they claim now they won't do anymore-threaten to default or shutdown the government.

     Clearly denial is going to be a long stage. As Greg Sargent says, "Release the Hostage, Republicans."

     "At that point, the threat of default would again loom and again enter into the discussions somehow. But make no mistake: this is a major cave. It is further indication that the GOP simply isn’t willing to allow default. It reveals yet again that this whole debt ceiling hostage taking strategy is proving a major failure: After all, if you’re not willing to default, then you’re admitting the debt ceiling doesn’t give you any leverage. So why threaten to use it to get what you want in a couple of months? How will things be any different then?"

      "If you are going to use destructive threats to avoid compromising, people will figure out that you’ve adopted a destructive and uncompromising approach to governing, whether or not you are actually willing to follow through on those threats. The new NBC/WSJ poll finds that the GOP’s negative rating is at its highest ever record in this poll. Republicans are getting the blame for this mess, and they will get the blame again if they try to use the threat of default to avoid compromising in two months. The threat won’t constitute leverage in two months any more than it does now. What exactly does this temporary debt ceiling hike accomplish?"

        http://www.washingtonpost.com/blogs/plum-line/wp/2013/01/18/the-morning-plum-no-more-games-just-release-the-hostage/

     

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