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So we hit the debt limit...

Started by MadImmortalMan, May 17, 2011, 01:18:23 PM

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MadImmortalMan

Final score: 218-215 with 22 GOPers voting no.


Now they're voting to name a post office.
"Stability is destabilizing." --Hyman Minsky

"Complacency can be a self-denying prophecy."
"We have nothing to fear but lack of fear itself." --Larry Summers

Razgovory

Quote from: MadImmortalMan on July 29, 2011, 05:27:43 PM
Final score: 218-215 with 22 GOPers voting no.


Now they're voting to name a post office.

Ronald Reagan memorial Post Office!
I've given it serious thought. I must scorn the ways of my family, and seek a Japanese woman to yield me my progeny. He shall live in the lands of the east, and be well tutored in his sacred trust to weave the best traditions of Japan and the Sacred South together, until such time as he (or, indeed his house, which will periodically require infusion of both Southern and Japanese bloodlines of note) can deliver to the South it's independence, either in this world or in space.  -Lettow April of 2011

Raz is right. -MadImmortalMan March of 2017

mongers

#782
Was it such a good idea to get the smurfs to open trading today, with only 4 days to go ?



edit:
besides everyone knows they'd have been more effective on Capitol Hill.
"We have it in our power to begin the world over again"

citizen k

QuoteTea party role in debt bill raises GOP eyebrows

WASHINGTON (AP) — House Republicans rode the tea party tiger to power last fall. Now it's turning on them, forcing party leaders to endure embarrassing delays and unwanted revisions to crucial debt-ceiling legislation.

This tiger did not change it stripes. When tea partyers emerged as a political phenomenon in 2009, they vowed to stand on principle and change the way Washington works. They've kept that promise despite some doubters' predictions they would succumb to the get-along, go-along crowd once they reached Capitol Hill.

That fidelity is now threatening GOP unity and causing headaches for party leaders as they try to negotiate with Democrats in a divided government. With the 2012 campaigns cranking up, some Republicans are re-evaluating the fiery movement that fueled their sweeping victories in 2010.

House Speaker John Boehner's misreading of tea partyers' doggedness this week forced his chagrined team to postpone votes twice on his debt-ceiling bill. Finally, on Friday, Boehner had to amend the bill in ways Democrats openly derided. The events proved "that while the tea party Republicans are a noisy and effective protest movement, they are unfit for governing," said Rep. Chris Van Hollen, D-Md.

Said Rep. Steven LaTourette, an Ohio Republican: "We've lost some leverage."

Boehner's original bill to raise the debt ceiling by Tuesday's deadline was already doomed in the Democratic-controlled Senate, where talks of a possible final-hour bipartisan deal were under way. But the House's tea party holdouts forced Boehner to push his bill even further to the right, prompting taunts that it wasn't serious, let alone viable.

Boehner could not secure the votes he needed from conservatives until he accepted an unusual condition for a second debt-limit increase, which would be necessary in a few months. Both chambers of Congress first would have to approve a constitutional amendment requiring balanced budgets, which requires a two-thirds majority in both houses. Some conservatives have long dreamed of such a change. But leaders in both parties acknowledge it is politically unachievable.

Boehner's original bill was already imperiled because it would tie the second debt-ceiling increase to huge mandatory spending cuts, which President Barack Obama rejected. The speaker's allies said the tea partyers' demands make it all the harder to argue that Democrats should seriously consider the House bill.

Rep. Steve Womack, R-Ark., said Democrats will "feel like they've got a lot more power and influence in this process right now."

The political fractures are reaching into the GOP, and even the tea party movement itself. Some tea party-backed lawmakers embraced Boehner's original bill, drawing fire from the movement's most unyielding wings.

A group called The United West labeled four House Republicans "tea party defectors." One of them was first-term Rep. Allen West of Florida, a highly visible favorite of many tea party factions.

The accusation angered conservative radio host Laura Ingraham, who brought West on her show and defended him. "He understands how to declare victory, even if that victory is incremental," she said. West understands "the limits of one's power when you control one house of Congress."

West said, "One minute they're saying I'm their tea party hero, and what, three or four days later. I'm a tea party defector? That kind of tea party schizophrenia, I'm not going to get involved in it."

GOP Rep. Paul Broun of Georgia, who says he will not support a debt limit hike under any circumstances, defended the tea party movement.

"The tea party has been maligned unfairly," Broun said in an interview. "It's about limiting government according to what the Constitution says it should be."

"This is truly a reflection of the strongest political force in America," Broun said.

Even Democrats grudgingly acknowledge that the tea party has pushed national policy toward deeper spending cuts without tax increases. Obama for months insisted that higher tax revenues be part of a debt-reduction package, but Senate Democrats have dropped that bid.

The highly decentralized tea party movement was born amid the fiercely partisan fight that led to passage of Obama's health care overhaul in 2010. At public forums throughout the nation, citizens sharply criticized the plan's reach into private lives, including its requirement that everyone eventually buy health insurance.

The movement, which also decried federal bank bailouts and stimulus programs, played a huge role in last fall's elections, when Republicans regained control of the House after four years in the minority.

Now, some establishment Republicans are wondering if they got more than they bargained for. The U.S. Chamber of Commerce, for instance, strongly opposed the health care legislation, making common cause with the tea party. But this month the chamber swung solidly behind Boehner's original debt-ceiling bill. It suffered embarrassment with all the other groups and individuals forced to swallow the tea partyers' demands.

Republican campaign strategists are weighing the tea party's valuable energy against the possibility that it might push the party away from mainstream politics, which appeal to crucial independent voters. A Pew Research poll found that 68 percent of American voters want lawmakers to compromise on the debt ceiling and default issue, even it means striking a deal they disagree with. Fewer than one in four said lawmakers should stand by their principles even if it leads to a default on U.S. obligations.

Veteran lawmakers and congressional staffers are struck by the faith — be it admirable or naïve — that many tea party advocates seem to have in what they consider the moral rightness of their ideas. Some GOP staffers privately roll their eyes at accounts of House members insisting that Senate Democrats will suddenly come to their senses and embrace the balanced budget agreement, even though those senators have criticized the proposal for years.

"I sure hope they don't try to take out the balanced budget amendment in the Senate," said Rep. Phil Gingrey, R-Ga. He refused to vote for the House debt-ceiling bill until it was added.

Senate Majority Leader Harry Reid, D-Nev., barely conceals his disdain for such thinking. The key question, Reid said in a speech Friday, is "will today's Republicans break away from the shrill voice of the tea party and return to the Republican Party of Ronald Reagan?"

When a Democratic leader praises Reagan, it's a sign of how profoundly the tea party movement has influenced the GOP.



Associated Press writers Alan Fram and Steven Ohlemacher contributed to this report.



Martinus

Well, you can thank people like Caliga's wife for this mess.   :lol:

Razgovory

I honestly am baffled this happening.  It's like an economic suicide bombing.
I've given it serious thought. I must scorn the ways of my family, and seek a Japanese woman to yield me my progeny. He shall live in the lands of the east, and be well tutored in his sacred trust to weave the best traditions of Japan and the Sacred South together, until such time as he (or, indeed his house, which will periodically require infusion of both Southern and Japanese bloodlines of note) can deliver to the South it's independence, either in this world or in space.  -Lettow April of 2011

Raz is right. -MadImmortalMan March of 2017

The Brain

Quote from: mongers on July 29, 2011, 06:51:37 PM
Was it such a good idea to get the smurfs to open trading today, with only 4 days to go ?



edit:
besides everyone knows they'd have been more effective on Capitol Hill.

:)
Women want me. Men want to be with me.

Richard Hakluyt

And the senate has thrown it out  :lol:

The polarisation between two parties that are both spendthrift would be highly amusing if it were not for the unpleasant consequences. They remind me of the "Big Endians" and "Little Endians" in Gulliver's Travels, which is appropriate given the Lilliputian scale of our current political class's talents.

Martinus

I think most of the blame rests with the Republicans, however. As far as I understand, in the past, raising the debt limit was more or less a formality. It's only this time that suddenly the Reoublicans decided to hold the entire government finances hostage by demanding extra concessions or they will pull the trigger.

The relative reasons of each side are less relevant - what's problematic is that Republicans decided to engage in this political blackmail to get their demands met.

garbon

Quote from: Martinus on July 30, 2011, 06:39:26 AM
I think most of the blame rests with the Republicans, however. As far as I understand, in the past, raising the debt limit was more or less a formality.

And look how wonderful that has been.
"I've never been quite sure what the point of a eunuch is, if truth be told. It seems to me they're only men with the useful bits cut off."
I drank because I wanted to drown my sorrows, but now the damned things have learned to swim.

Kleves

Remember when Democrats were bitching about the Senate, saying it served only to obstruct the will of the people and should be abolished? Now it is the last, best hope of mankind.
My aim, then, was to whip the rebels, to humble their pride, to follow them to their inmost recesses, and make them fear and dread us. Fear is the beginning of wisdom.

CountDeMoney

Quote from: garbon on July 30, 2011, 08:13:27 AM
Quote from: Martinus on July 30, 2011, 06:39:26 AM
I think most of the blame rests with the Republicans, however. As far as I understand, in the past, raising the debt limit was more or less a formality.

And look how wonderful that has been.

Sorry, garbs; can't fund the federal government at 1955 rates.  That's like bitching why we can't buy a gallon of milk for .15 anymore.

garbon

Quote from: CountDeMoney on July 30, 2011, 08:32:00 AM
Sorry, garbs; can't fund the federal government at 1955 rates.  That's like bitching why we can't buy a gallon of milk for .15 anymore.

I didn't realize that our options were either that or wild spending spree. Silly me.
"I've never been quite sure what the point of a eunuch is, if truth be told. It seems to me they're only men with the useful bits cut off."
I drank because I wanted to drown my sorrows, but now the damned things have learned to swim.

CountDeMoney

Quote from: garbon on July 30, 2011, 08:35:15 AM
Quote from: CountDeMoney on July 30, 2011, 08:32:00 AM
Sorry, garbs; can't fund the federal government at 1955 rates.  That's like bitching why we can't buy a gallon of milk for .15 anymore.

I didn't realize that our options were either that or wild spending spree. Silly me.

There's your Teabaggers' "Cut Cap and Balance" proposal for you in a nutshell.

The Brain

Women want me. Men want to be with me.