House bill means debt ceiling replay
July 28th, 2011
03:35 PM ET
10 years ago

House bill means debt ceiling replay

NEW YORK (CNNMoney) - The debt ceiling debate has degenerated into another messy display of congressional dysfunction.

And if the Republican bill to raise the ceiling is enacted in its current form, the horror show will return for an encore performance in just a few months.


Filed under: Congress • Debt • Deficit
soundoff (17 Responses)
  1. GI Joe

    HELL NO. (Take that, Boner).

    We need certainty in the Market now, just like the repulicans insisted last December that corporations needed tax cut certainty so they could hire.

    WHERE ARE THOSE JOBS? That's what they ran on last year - jobs jobs jobs jobs jobs.

    July 28, 2011 03:44 pm at 3:44 pm |
  2. Progressive Jedi

    If the US defaults, so will I. I'll not pay a dime in increased intrest. I'll default all my loans.
    Enough is enough, if the Tea bag heads think they can take my money to pay the uber rich, think again!

    July 28, 2011 03:45 pm at 3:45 pm |
  3. GI Joe

    Liars – republicans and tea-baggers are liars. All they want is control (Fascism=Corporatism=everything for the wealthiest at the expense of the workers).

    July 28, 2011 03:45 pm at 3:45 pm |
  4. Sniffit

    After cancelling the vote on Tuesday because Boehner's plan could not get enough Teatroll support to pass the House with ONLY GOP VOTES, and after weeks of being told by MOody's and S&P's, et al, that the debt ceiling and deficit bill needed to provide a long term fix that would not force us to revisit the issue in just a few months, Boehner had the unmitigated gall this afternoon to answer a reporter's question by not only characterizing his bill as "bipartisan" but saying that whether Moody's and S&P's etc downgrade the debt because of his bill is "beyond my control."

    That's right...the GOP and it's "shellacking majority" in the House, where all appropriations bills must originate, considers it "beyond our control" whether everyone in this country suffers the consequences of their bipartisan chicanery and has to pay rising interest rates on all forms fo credit. Enjoy your foreclosures everyone.

    At root of ALL of this...ALL OF one bare bones fact: the GOP took the House majority but didn't want to take responsibility or blame for the FACT, the absolute, undeniable, unavoidable FACT, that the debt ceiling MUST be raised...and wanted to shift both the responsibility and blame all onto Obama and the Dems. THAT is the single biggest driving force behind the entire charade we've been forced to witness and for which we were and will be forced to suffer.

    July 28, 2011 03:45 pm at 3:45 pm |
  5. Ed

    If the senate rejects the House then we should recall every one who votes against the bill.

    The majority want's this done and stop playing with our money.

    Balance the budget, stop spending what you don't have, and stop all the scare tatics.

    Seems like all the DEM's are crying wolf to many times. I guess they don't like doing what the voters want.

    July 28, 2011 03:46 pm at 3:46 pm |
  6. KAJD

    enough...throw all the bums out at the next election!

    July 28, 2011 03:46 pm at 3:46 pm |
  7. The Day of Financial Reckoning is HERE - The Great Democrat Welfare Society Ends

    Maybe by then the worseless Democrats will put together a budget (after over 2 years without one) and put together an actual PLAN to get this country to a balanced budget, instead of trying to spend us into bankruptcy.

    July 28, 2011 03:50 pm at 3:50 pm |
  8. Bill from GA

    Let's see; earlier this year, it was uncertainty about Obama's tax plan, or whatever, that was killing jobs. But now, uncertainty about the USA paying its bills is NOT A PROBLEM.

    I guess it doesn't matter what you say, when you have such a strong Propaganda Machine backing you. And a bunch of gullible idiots to support you.

    And the credit raters have said, half a deal is not enough to keep our stellar credit rating. Spin that, repugs.

    July 28, 2011 03:54 pm at 3:54 pm |
  9. M

    Not going to happen! Dems & Obama won't accept. GreedOverPeople simply trying their darnedest to destroy our great country!

    July 28, 2011 04:02 pm at 4:02 pm |
  10. janet

    Isn't it funny how the Republican claim to want what is best for the country sans Obama, they will do anything and everything in thier power to make him a failure? l watch in dismay how quickly the debate has turned into a debacle so much so no one cares about the global perception of the kind of leadership in Washington. This kind of actionis disgraceful, and not patrotic in the least.

    July 28, 2011 04:05 pm at 4:05 pm |
  11. MAC

    Let us have a replay if it is needed to get real pending cuts, not the FUZZY MATH used in Congress or the White House. The latest CBO estimates show the Obama Administration show from 10 trillion to 12 trillion in new debt for the next 10 years. You LIBERALS can pay for that by more taxes, since the rich do not have enough money even if you take 100% of their income. In fact if you taxed everyone 100% you would still have to borrow more money to pay the governments bills. I am glad I am not my grandchildren and have no future except to pay of the federal debt. I can here them say "THANKS GRANDMA and GRANDPA!"

    July 28, 2011 04:05 pm at 4:05 pm |
  12. Bill from GA

    Here in Georgia, many think the debt ceiling should not be raised at all. They see that as a way to cut spending. Having one of the worst education systems in the country no doubt helps the repugs.

    These people don't realize that defaulting on our Country's debt will add $100 billion or more to the budget, in higher interest costs. The local media will interview Tom Price, Paul Broun, or some other right-wing nutjob who will tell the listeners how evil President Obama is and how he is spending us into eternal hell.

    July 28, 2011 04:08 pm at 4:08 pm |
  13. Rudy NYC

    Someone has done a brilliant job of convincing the masses that debt ceiling is a measure of how much we spend, when it is a measure of how much debt we have. The debt ceiling is the maximum amount of debt that the Treasury may have.

    Furthermore, many in the masses do not seem to understand that when House passed a new budget for FY2011, which had a projected deficit with added debt, that the House did not add to the debt ceiling authorizing the Treasury to borrow additional funds to cover the budget that the House passed.

    That budget was signed by the President into law. Now the Republicans are reneging on that budget by demanding additional cuts in the budget *after* the fact. After the budget has been signed into law. The Democrats have been most reasonable and accomodating to the need to reduce the deficit. But, some of Republicans are painting a picture that the debt ceiling represents future spending when in fact it represents a need to authorize the Treasury to borrow to pay for our current budget.

    July 28, 2011 04:34 pm at 4:34 pm |
  14. The Greedy Old Pigs have declared class war on US!

    Which is why the Senate should vote it down and the President should veto it should it pass the Senate.

    July 28, 2011 04:45 pm at 4:45 pm |
  15. sonny chapman

    Hell, this has been so much fun let's do it 5 more times between now & Nov. 2012.

    July 28, 2011 04:58 pm at 4:58 pm |
  16. frank in valparaiso

    Welll the Koch brothers got their money's worth in entertainment..

    July 28, 2011 05:06 pm at 5:06 pm |
  17. michaelam

    No, John of Orange! The American people do not want a repeat performance of this nonsense; we're done! Listen to the American people for once, John! You constantly quote our wants and needs but you never get them correct. We want jobs....not your sand-box fights!

    Please, Teahadists-–vote NO! for this stupid bill!

    July 28, 2011 05:09 pm at 5:09 pm |