BLITZER'S BLOG: Debt talks: A high-stakes game of chicken
July 11th, 2011
04:29 PM ET
7 years ago

BLITZER'S BLOG: Debt talks: A high-stakes game of chicken

(CNN) – President Obama says he fully expects a deal by August 2 raising the nation's debt ceiling. But he also says he won't accept any short-term, stop-gap deal – whether for 30, 60, 90 or even 180 days. Any agreement, he says, must go beyond the November 2012 elections.

He also says it must be "fair and balanced" (his words) – meaning there must be both major spending cuts as well as increases in tax revenue. The elimination of various tax loopholes and deductions wouldn't kick in until 2013, the president says. He says he's ready to put Social Security and Medicare on the table, a move that has deeply irritated many in his Democratic Party base.

Filed under: Debt • Deficit • President Obama
soundoff (14 Responses)
  1. A Kickin' Donkey

    The President has the Constitution on his side. He better be prepared to use it. If he is, he can force the GOP to blink while adhering to our founding principles.

    Obama can unilaterally take measures to CURTAIL our spending until we have additional borrowing capacity - measures that will hurt the GOP's special interests. He can & should delay Congressional paychecks until Congress ensures that the country's debt is "VALID".

    Politically, this will drive the rabit right wing into a frenzy. They will call him a "dictator" or claim he thinks he is the "messaih". None of this will be true and the President, as the Chief Executive who swore to uphold the Constitution will have the force of law on his side. He will loose the Tea Party vote, but he doesn't have it now. He will gain the independent vote and the Democratic base will be energized.

    He will win the game of chicken – Hands Down

    July 11, 2011 04:40 pm at 4:40 pm |
  2. REG in AZ

    We are still living with the problems they caused ...
    still fighting to get out from under ...
    and they want to take over again and cause more ...
    Are we really that foolish? ... that easy? ... that stupid?

    Remember who arrogantly got us the problems ....
    and who stubbornly blocked every effort to fix them ...
    Those who are now trying to convince us
    ... return to “more of the same” ...
    It will surely benefit them ... but never the rest of us!

    Cut taxes for the wealthy ...
    Cut benefits for the average person ...
    Block reforms, repeal regulations, open markets
    and the well-connected will all cheer ...
    We have literally been there before ...
    next they can kill Social Security, Medicare,
    and return Health Care to Special Interests control.

    Their political ambitions come first ...
    They continually con and manipulate ...
    cry and scream their subterfuge ...
    Offering emotional appeals to fears, biases, prejudices
    while just being obnoxiously bold with their creative efforts.

    All done with the strong overt and covert support
    of their influential backers, who always greatly benefit ...
    But we don’t ... no we don’t ever benefit ...
    We only pay the costs, receive the apathy and
    get more of the con, more rationalized justifications and excuses
    ... the subterfuge.

    Doesn’t matter if manipulating the Christian block ...
    Selling the Swift-boat propaganda ...
    or exciting emotions with the Tea Party extremes ...
    or whatever will be next ...
    they have become emboldened with past successes ...
    and simply insulting as they take the public for granted ...
    as if we are their pawns.

    They’ve got their stories ... their criticisms ...
    and the gaul, the arrogance, the lack of any conscience,
    with their total self-focus ...
    and an abundance of money, power and influence ...
    to present and sell their con.

    The question is ...
    do we have the common sense to reject all of it?
    to encourage the return to the Grand Ole Party,
    with philosophies and actions to again honestly represent the majority,
    ... by our now rejecting what they have become ...
    the “puppet” party with their “strings being pulled” by the few!

    July 11, 2011 04:43 pm at 4:43 pm |
  3. obama victim

    will Barry have the ka-honies to stand up to the left wng crazies and take on entitlements?? show me some guts Barry

    July 11, 2011 04:57 pm at 4:57 pm |
  4. The Greedy Old Pigs have declared class war on America

    The Weeper of the House claimed today that both sides needed to make sacrifices. The man is a typical GOBPbaggin' liar. Name ONE single sacrifice he's asked the wealthy to make? Not a one. The entire cult on the extreme right are dead silent about this. They want everyone ELSE to sacrifice. These crazy people are completely un-American.

    July 11, 2011 05:01 pm at 5:01 pm |
  5. Dahly

    Chicken? Our Country is in the hands of last minute Fools who are playing Chicken? Cut, Cap and Balance! Jobs will be lost as a result, and if taxes are raised on the job providers, recovery won't happen anytime soon.

    July 11, 2011 05:04 pm at 5:04 pm |
  6. Mike kern

    The only taxes the Republicans will accept will be on the working class.

    July 11, 2011 05:06 pm at 5:06 pm |
  7. GonzoinHouston

    This is the economic equivalent of the Cuban missile crisis. We're facing worldwide destruction and the clock is ticking. Who's gonna blink? Obama or Boehner? My money is on Boehner to blink, and eventually be replaced as Speaker. Obama is close to winning his biggest political victory since '08.

    July 11, 2011 05:22 pm at 5:22 pm |
  8. The Greedy Old Pigs have declared class war on America

    "taxes are raised on the job providers"

    That is ridiculously false propaganda from the extreme right wing cult of corrupt capitalism (corporatist welfare queens). These "job providers" have had a decade of tax cuts and we're still waiting for the jobs. What creates jobs is increased demand for goods and services. That means getting more money into the hands of the poor and middle class. This has been proven repeatedly by history, Learn it.

    July 11, 2011 05:25 pm at 5:25 pm |
  9. Sniffit

    "This is precious. You are now trying to make a case that Obama's policy upon entering office of Massive Government Spending to recover the economy was GWB's fault?!?!"

    I don't have to make a case for it. It's a simple mathematical truth. The Bush tax cuts and the two wars he started are the two greatest contributing factors in the skyrocketing debt and deficit. Obama's contribution is paltry in comparison. In fact, if the tax cuts are allowed to expire AS WRITTEN, doc fixes aren't enacted and a few other measures are taken, the deficit goes away without really having to touch SS or Medicare...not that SS has anything to do with the deficit in the first place (hint: it doesn't...look it up before knee-jerk complaining that it does). None of this is deniable...nor is it spin...or a biased opinion. It's objective truth granted us by the great and mighty entity know only as Math. THE NUMBERS DON'T LIE.

    July 11, 2011 05:59 pm at 5:59 pm |
  10. Sniffit

    "The Weeper of the House claimed today that both sides needed to make sacrifices."

    yes, and then he, Cantor and McConnell promptly told everyone that despite having raised the debt ceiling several times during Bush's tenure as a matter of autonomic response to the default deadlines and the accelerated spending and debt/deficit Bush and the GOP congress was, at that time, creating...all three of them came out today and told everyone that their "concession"...they're "sacrifice"...was to even consider raising the debt ceiling in the first place. Go ahead. Look it up. Cantor's got some fantastic idealogue talking point blather about how hard it was for them to convince fiscal conservatives to even consider raising the debt ceiling in the first place. Total load of crap, but CNN and the rest will ignore it because it's pretty damaging that they have now officially moved the goal posts into the stands.

    July 11, 2011 06:02 pm at 6:02 pm |
  11. GOP has a tea problem, not a party?

    Dear, Mr. President. Use the 14 amendment it's in your job duties. No debt ceiling deal. No congress paychecks! Put that on the table.

    July 11, 2011 06:58 pm at 6:58 pm |
  12. Mike in SA

    We've had 6 debt ceiling increases in the past 4.5 years that the Dems have held Congress - an average of 1 every 9 months - and 3 in the 2.5 years that Obama has been President - 1 every 10 months. Suddenly now he wants a long-term solution? That couldn't be politically motivated now could it?

    July 11, 2011 07:02 pm at 7:02 pm |
  13. johnson

    If we had a republican president and he bailed out the automakers and made them successful to the point that they have paid the money back you republicans would be praising YOUR GUY, since it is Obama it was big spending and not a good idea.

    July 11, 2011 07:06 pm at 7:06 pm |
  14. Steve from Knoxville, Tennessee

    I hope somebody reminds lawmakers that in the game of chicken, if no one flinches, both sides lose. What's even worse is that they are risking a type of depression that in Germany lead to the rise of the Nazi party and we saw how that turned out. Congress needs to get the messages that independents are sending: no compromise, no re-election and play your respective bases, no re-election.

    July 11, 2011 08:22 pm at 8:22 pm |