Debt ceiling in play again
May 22nd, 2012
07:33 AM ET
11 years ago

Debt ceiling in play again

New York (CNNMoney) - Wow. So here we are again.

Washington is spoiling for a fight over the country's debt ceiling - less than a year after a showdown that induced a credit downgrade, rocked the markets and eroded confidence in Congress.


Filed under: Congress • Debt
soundoff (18 Responses)
  1. Gurgyl

    Watch out, it is GOP thugs play, ruse and nonsense...

    May 22, 2012 07:42 am at 7:42 am |
  2. Donkey Party

    The GOP holding the country hostage again. Please America, vote out the domestic terrorist GOP in 2012. Supporting them equates to giving aid and comfort to the enemy.

    May 22, 2012 07:43 am at 7:43 am |
  3. pjoe

    We'll raise the debt ceiling when you pass a budget.

    May 22, 2012 08:24 am at 8:24 am |
  4. dreamer96

    Since the Reagan Administration, the rich have been hiding their profits over seas...estimates of 40 to 100 billion for each year in lost IRS Federal taxes...The GOP would not have a deficit problem if we had fair taxes....GWBush gave a huge tax cut in the middle of two unfunded wars..Never in our countries history have we done that..In WWII we had high pay off the war deficit...Both Teddy Roosevelt and Ronald Reagan believed that profits from Capital Gains and Dividends, should be taxed at the same rate as a working mans paycheck..The fact that people could make money without having to actually work for it, should be benefit enough...One Wall Street Hedge Fund manager made 3.7 Billion in 2008, and only paid 15% or less in Federal Taxes on that huge profit...

    And our Global Corporations do not want to pay USA Federal taxes, that fund our military, our foreign Embassies, our foreign intelligence agencies, but come to our oversea Embassies and ask for special treatment, information, help with trade negotiations, protecting, local disputes..but do not want to pay for those USA services they expect to use..

    May 22, 2012 08:52 am at 8:52 am |
  5. Wire Palladin, S. F.

    The last time the GOP fought against raising the debt ceiling, elected GOP tea baggers were celebrating that they had America's credit rating lowered.

    May 22, 2012 08:54 am at 8:54 am |
  6. dreamer96

    The worlds second largest exporter, Germany, has high taxes, strong banks, universal health care, rich doctors, strong highly trained, worker's unions, the unemployed are retrained by companies, and paid by the government for part of the cost to do the retraining...Everything the GOP says will hurt the USA economy, the German system does.and it works for them.and they are bailing out all of Europe..

    May 22, 2012 09:00 am at 9:00 am |
  7. Pedro

    Congress should get fired by the people since they are not willing to work for us as they suppose.
    It's amazed me that those guys still getting their monthly pay check with all the benefits that we people can not have.
    Change USA change.

    May 22, 2012 09:07 am at 9:07 am |
  8. The REAL Truth...

    How nice to see the Grand Obstructionist Party plans to renege on yet another previously agreed on "deal" on the debt ceiling. Typical of the party of no. No platform, no policies, no ethics, no compromise and no chance in Nov...

    May 22, 2012 09:46 am at 9:46 am |
  9. Rudy NYC

    I say make Republicans pay for their tax cuts. Make them show their love. Dare someone to stand in front of a microphone and declare that tax cuts pay for themselves, or deficits don't matter, or tax cuts are not a form of spending.

    May 22, 2012 09:52 am at 9:52 am |

    If the GOP causes us to be downgraded again, they should be tried for treason.

    May 22, 2012 09:58 am at 9:58 am |
  11. dreamer96

    Oh Boy the GOP can clone Reagan now..even thought they are aginst cloning, or stem cell research....

    They can remake their GOP God..Reagan...Reagan who took Iraq of the list of terrorist nationals, and Reagan who sold Saddam in Iraq, Anthrax, Botulism, Sarin Gas, Tuban Gas, Mustard Gas, 60 helicopters with sprayers, Diluted Agent Orange in the form of Roundup, even Yellow Cake, that ended up in Iran's nuky program...all from 1980-1989..using GHWBush, the former head of the CIA to setup front companies to ship the nasty stuff, and Donald Rumsfled as Reagan's point man to Saddam, and Rumsfeld used his number one guy Dick Cheney..

    And at the same time Reagan sold weapons and parts, and SAM missiles to Iran...and supported a secret South American army hidden from the Congress..Reagan how gave the okay to sell shoulder launched missiles to Afghanistan rebels, helped make Bin Laden a hero, the leader of Al-Qaeda...

    Reagan who closed all the Federal mental hospitals and sent 500,000 mentally ill men and women into the streets, with no place to sleep, no food, except trash, no medication...Reagan how closed the Veterans homes to Vietnam Vets, and worked to discredit the Vietnam Vets claims of damages from Agent Orange, while selling Diluted Agent Orange in the form of Roundup to Saddam in Iraq to be used as a nerve gas on the Iranians soldiers and the Iraqi Kurds...

    Yeah Reagan who tripled the national deficit, said deficits do not matter..80% of our national deficit is becuase of Reagan, GHWBush, and GWBush...Reagan who worked to help the rich get richer, share less with the workers, reduce the average workers pay and benefits...

    Yeah the GOP love Reagan...

    May 22, 2012 10:01 am at 10:01 am |
  12. Data Driven

    At this point, Congress appears to be an enemy of the State.

    With all due respect to the clever lawyers, wearing powdered periwigs, short-pants tied at the knees with garters with stockings below, and buckled shoes, who deemed a congressional body necessary over 200 years ago when they founded this country, they were wrong. At least in the long term. The Senate, in particular, is too sclerotic to even be properly traitorous. Would we miss Congress if it was gone? Would we really?

    May 22, 2012 10:08 am at 10:08 am |
  13. Four and The Door

    May 10, 2012
    WASHINGTON – Earlier today, the U.S. House of Representatives passed H.R. 5652, the Sequester Replacement Reconciliation Act of 2012, a package of reforms aimed to avert across-the-board cuts to our armed forces and key priorities, reduce the deficit, and foster a better environment for job creation. Replacing the “sequester” with sensible reductions in indefensible government spending would result in net deficit reduction of $242.8 billion according to the Congressional Budget Office.

    Earlier this week, Senate Majority Leader Harry Reid stated his preference for allowing the sequester to hit unless Washington imposed massive tax increases on working families.
    This explains clearly who in Washington is not doing anything to address our nation's debt and fiscal mess. Harry Reid and Barack Obama fail to even consider putting together federal budgets, claiming that the debt ceiling is what they consider a budget. This is reckless incompetence. We can do better.

    Romney 2012 and as many Republican Senators as we can elect.

    May 22, 2012 10:08 am at 10:08 am |
  14. YoBabyYoBabyYoBabyYo

    Let's see how the Republican Congress can screw this up again. Maybe Boehner will string us along and then bail just before the finish line like last time, country be damned.

    May 22, 2012 10:12 am at 10:12 am |
  15. Mike Texoma

    My reference is that the president tell Congress very publicly and in no uncertain terms that he will not be blackmailed or bullied or threatened with regard to this debt ceiling, and that if the Republicans want to take this country off the cliff in order to please Grover Norquist or their radical right base they will have to reap the political consequences. And then I hope the president will stick to his guns no matter what the outcome may be. It is time to demand and expect the best of our elected representatives.

    May 22, 2012 10:22 am at 10:22 am |
  16. Larry L

    It's important to remember the Tea Party Republicans want the American government to fail. They'll try brinksmanship politics every chance they get because they really are not looking to preserve America's place as a top tier nation. Republicans are hostage-takers and the American people are the hostages.

    May 22, 2012 10:23 am at 10:23 am |
  17. Tom

    The key word here is Dead. America is dead under the reign of either one of theses guys not to mention the jerks making law at the Capitol Hill. They need to be in Boot Hill.

    May 22, 2012 10:25 am at 10:25 am |
  18. BLKMANinAmerica

    Easy my President should NOT request any increase, this will not only put out the repuks little fire but show American's the President is willing to "do without".

    May 22, 2012 10:26 am at 10:26 am |