Playing chicken with the debt ceiling
January 29th, 2011
10:10 AM ET
3 years ago

Playing chicken with the debt ceiling

NEW YORK (CNNMoney) - Bond experts to Congress: Turn down the volume on the debt ceiling.

Some lawmakers are hoping to use the upcoming vote to raise the cap on federal borrowing as do-or-die time for fiscal responsibility. They say they will only support an increase if Congress goes along with spending cuts.

But bond experts say Congress is engaged in risky business. They say lawmakers should not use the debt ceiling as an artificial deadline for deficit reduction. Instead, lawmakers should focus on crafting a comprehensive long-term plan for fiscal responsibility.

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Filed under: Congress • Debt
soundoff (11 Responses)
  1. Wire Palladin, S. F.

    Since right wingnuts do not care about doing what is best for our country, I doubt if the damage they are going to do to our country matters much. These baggers are missing the ability to reason and fact check so I don't think reality will sink into their thick skulls.

    January 29, 2011 10:17 am at 10:17 am |
  2. Nadeem

    The GOP are playing chicken with:
    our investment, how many people have government bonds that the GOP is thretening to default on?
    our bodines, new forcible rape language being added to abortion laws. Date rape, drug rape will no longer count.
    our future, defunding of education
    our parents, cutting off ventrans benifits
    our families, repealing healthcare

    There is no governing phylosophy, the GOP are made up of spoiled children, who get all their information from lobyists.

    January 29, 2011 10:25 am at 10:25 am |
  3. Wire Palladin, S. F.

    Newt and his republican majority in congress shut down our government in 1995, and it cost American taxpayers an unnecessary $800 million. Imagine what the republicans will cost us if they don't raise the debt ceiling and create a global economic crisis. I bet their response will be just like Steve Urkel, "Did I do that?"

    January 29, 2011 10:25 am at 10:25 am |
  4. Keesa

    the gop is a shame to our sociaty an family values. The gop is class full fools.

    January 29, 2011 11:39 am at 11:39 am |
  5. B

    This is the 8 hundred pound gorilla in the room but we don’t need to make it yet another Political football..

    We need serious help from both sides to deal with it, but I don’t really believe that co-operation will result.

    Like most serious concerns that we have, we will wait for the crisis to happen.

    January 29, 2011 11:52 am at 11:52 am |
  6. Sees All Evil

    They know exactly what they're doing. They're feeding us propaganda just like they did for 8 years of stolen elections. All i can say is. Americans wake up to the lies of the gop and the pee party! When will we learn votes for them are votes against our future and our childrens future. If they get control again retirement age will be 70 and without healthcare how many will be lucky enough to live long enough to collect? Do you feel lucky?? Let's not squander our God given right to vote let's give Mr. Obama our support we all know he's got us going in the right direction. Let's keep faith in what we see changing than empty promises from empty hearts.

    January 29, 2011 12:24 pm at 12:24 pm |
  7. Lost in Texas FOREVER

    but SO many wanted the GOP back in power in the House, right? Didn't matter that they were a big part of the problem that lead to the recession the Tea Party and all the so-called angry voters just didn't think 2 years was long enough to have a complete turnaround of the economy. Plus the guy is the White House is "not one of us"!! So the first thing the GOP congress does is not try to create jobs but starts trying to dismantle what the former congress did. move in reverse not forward. Well enjoy your chicken America since many fell for the GOP's fear and mis-information tactics.

    January 29, 2011 12:34 pm at 12:34 pm |
  8. Sniffit

    See what you voted for Amerikkka? The GOP is in and the debt ceiling gets destroyed. Thank you morons.

    January 29, 2011 12:55 pm at 12:55 pm |
  9. vic nashville tn

    Really conservatives doesn’t know what is going the world

    Example FOX prime time (late last night) try to spin the Egypt demonstration try to connect Obama to Jimmy Cater.
    Even Former UN ambassador doesn’t’ know what is going on over there but pointing finger on Obama

    I seen the report from Ben Wedeman, and Nic Robertson, I seen the analysis from Fareed Zakaria and Peter Bergan they know what they reporting and what they analyzing

    GOP gets real please

    January 29, 2011 12:59 pm at 12:59 pm |
  10. yup yup

    Do you guys not understand what all this debt meens? Either we cut a lot now or cut everything in a couple years. Take your pick. Oh an one more thing, this is just as much Obama's fault as it is Bush's. Its not just the wars (which Democrats voted for too) its all the entitlements as well.

    January 29, 2011 01:41 pm at 1:41 pm |
  11. zaggs

    Obama and the democrats have shown they do not and will not care about the deficit so long as they can continue to buy up votes by wasting the taxpayers money on worthless programs that do not do anything. The stimulus never kept unemployment below 8% as promised, Cash for Clunkers did nothing to boost the auto industry (as the number of cars bought continues to go down that year), Obamacare has already been cited by the CBO as raising health premiums. But by gooly those programs bailed out the auto unions, unions in general and the AMA.
    Has there been a spending bill or pork laden bill Obama has ever vetoed or voted against?
    Heck this whole argument shows just how much democrats and their supporters don't give a damn about America nor its people. Just the thought that Obama and congressional democrats should be forced into cutting spending to get the votes on the debt ceiling raise is being treated like treason by the Obamatons. Imagine that, trying to force fiscal responsibility is evil. That tells you all you need to know about the socialists.

    January 29, 2011 01:48 pm at 1:48 pm |