Obama formally seeks debt ceiling increase
January 12th, 2012
03:40 PM ET
3 years ago

Obama formally seeks debt ceiling increase

(CNN) – President Obama formally asked Congress Thursday to raise the nation’s debt ceiling, stating the country’s debts have fallen within $100 billion of the current debt limit and an increase is needed to meet “existing commitments.”

The request came Thursday in a letter from the president to House Speaker John Boehner.

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Filed under: President Obama
soundoff (20 Responses)
  1. krissmith777

    Not again! We already raised it, and it was supposed to be good until 2013...What happened, Barry?

    January 12, 2012 03:44 pm at 3:44 pm |
  2. Sniffit

    "Not again! We already raised it, and it was supposed to be good until 2013...What happened, Barry?"

    A. No, it was NOT "supposed to be good until 2013" and if the GOP/Teatrolls start trying to sell that crap, it's a complete and utter lie.

    B. The GOP/TEatrolls are actually the primary reason that it was not made "good until 2013." They wanted to have this fight again during the 2012 election cycle because they think it's a winner for them.

    C. The GOP/Teatrolls took the lion's share of the blame for the brinksmanship and resulting credit rating decrease from S&P last time around, as shown quite clearly by polling results. So "how could they think this is a winner issue for them" you ask? Simple: Go look at data showing consumer credit and other measures of consumer confidence last time they took the nation's credit rating hostage. You'll see that there is clear evidence of a downward spike in consumer confidence (ergo demand) during the hostage crisis last time. And yes, that's right, it slowed and delayed recovery and kept the economy bad for longer...which the GOP/Teatrolls DESPERATELY want to do for November 2012.

    January 12, 2012 03:50 pm at 3:50 pm |
  3. Me_Too

    MasterCard and VISA

    Please raise me credit card limit to 17 trillion dollars too.

    Government won't pay there debts, and are getting an increase when they want one.

    Why can't we?

    January 12, 2012 03:51 pm at 3:51 pm |
  4. For Obama 2012

    Krissmith777, when did that happen?

    January 12, 2012 03:52 pm at 3:52 pm |
  5. Me_Too

    Their debts... My bad...

    January 12, 2012 03:53 pm at 3:53 pm |
  6. Tyler1982

    this is a nightmare.....can we please fire him?

    January 12, 2012 03:53 pm at 3:53 pm |
  7. Wire Palladin, S. F.

    I think this will give the republicans one more chance to have our bond rating lowered to that of a third world country.

    January 12, 2012 03:56 pm at 3:56 pm |
  8. Wire Palladin, S. F.

    If repubes fail to raise the debt ceiling, we will have to find a different way to pay for republican wars, and for tax cuts for the wealthy.

    January 12, 2012 03:59 pm at 3:59 pm |
  9. anotherGDlefty

    krissmith777
    Not again! We already raised it, and it was supposed to be good until 2013...What happened, Barry?
    -------------------------------------------

    Try again with facts kriss.
    He wanted it raised through 2012 but the teatards wouldn't have it.
    The GOPTEA wanted 2 seperate increases and also the super-committee that failed miserably.
    It seems that GOPTEA's getting everything they asked for isn't really working out is it?
    Is the GOPTEA ready for compromise or are they going to double down on the stupid?

    The upside is that the republican party gets to be the first victim of thier Citizens United law from the Roberts court.

    January 12, 2012 04:05 pm at 4:05 pm |
  10. Name MD20204sho

    I think Obama is doing a great job!! There are lots of issues with the government! Congress keep playing to many games! The whole Bush era I was broke all 8 terms with a job, I lost my job in 2008, the kids and i were homeless, this country is divided by greed love and hate. Obama got me motivated to volunteer in my community, finish college, go on to grqaduate school and better my life,

    January 12, 2012 04:07 pm at 4:07 pm |
  11. GI Joe

    It was already APPROVED last year, but is to be doled out in increments in 2013. You people need to read before you react.

    January 12, 2012 04:10 pm at 4:10 pm |
  12. GI Joe

    If your boss promised you $300 dollars, and he wanted to pay it $100 at a time, it would be the same principle. Idiots.

    January 12, 2012 04:11 pm at 4:11 pm |
  13. GI Joe

    By the way - Boehner had to send a letter because he and some of his buddies are still in South America.

    He WILL be back in time to be in DC ONE DAY IN JANUARY. Nice vacation –

    January 12, 2012 04:14 pm at 4:14 pm |
  14. Indy

    Krisssmith 777,

    You are asking the wrong person, you need to ask GW Bush, it was Bush that maxed out the credit cards not Obama, as well Bush is the one that gave those tax breaks while fighting two unfunded wars and Obama is doing the right thing by paying Bushes credit card bills that Tea Partiers did not want to make good on.

    January 12, 2012 04:16 pm at 4:16 pm |
  15. john/omaha

    wire sf you forgot to say koch bros. fox news tax the rich it's bush's fault-------- get a life

    January 12, 2012 04:21 pm at 4:21 pm |
  16. Rudy NYC

    I've been telling you this was coming. After the payroll tax cut debacle, let's see how much leadership Boehner doesn't have left in him.

    January 12, 2012 04:22 pm at 4:22 pm |
  17. Truth and Nothing But the Truth

    Obama/Biden 2012 - The Fast Track to Bankruptcy

    January 12, 2012 04:24 pm at 4:24 pm |
  18. Truth and Nothing But the Truth

    Shouldn't he be getting China's approval instead? I know if I were them, I would NOT be loaning us any more money. Obama and the Democrats have turned the USA in to another subprime disaster waiting to happen.

    January 12, 2012 04:33 pm at 4:33 pm |
  19. vic , nashville ,tn

    For Obama haters
    George Wilcken Romney was born in Chihuahua, Mexico, Mitt Romney born here according to republican theory Mitt Romney is “Anchor baby” Best of luck with that

    January 12, 2012 04:47 pm at 4:47 pm |
  20. diridi

    better than WAR....go and do it. Tax the rich, do the TAX-CODE. Cut spending on WAR....

    January 12, 2012 05:18 pm at 5:18 pm |