GOP to vote on temporary debt ceiling hike
Departing from an earlier stance that appeared willing to see a government shutdown, Republican leaders are now looking for breathing room with an extension.
It was an expected turn of events in the ongoing drama over federal spending that has sharply divided Republicans and Democrats. The bill also has an unusual twist: It proposes to stop paying lawmakers if the House and Senate don't pass a budget.
The strategy is to shift blame to the Senate, Politico reports.
Republicans have been signaling a willingness to raise the debt ceiling to avoid sending the U.S. economy into turmoil. John Cornyn, the Republican Senate Minority whip, sounded sure about the matter Thursday when he spoke to the Houston Chronicle's editorial board. "We will raise the debt ceiling. We're not going to default on our debt," he said, according to Politico. "I will tell you unequivocally, we’re not going to default."
This seems to be in direct contrast to what Republicans were saying earlier this month. Some lawmakers appeared ready for a government shutdown if spending cuts were not approved. But big business has chimed in, saying there's no way the government should run out of cash and shut down. Even Republican leaders acknowledge a shutdown could be very damaging.
A short extension on the debt ceiling would give GOP leaders time to fight for deep spending cuts. Many cuts are slated to kick in March 1, and leaders of both parties are scrambling to pull those back in favor of better-crafted alternative plans.
The click is ticking, however, Congress must raise the $16.4 trillion debt ceiling by mid-February to early March or the government will run out of cash.
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I would not say "we have emergencies,coming out of the Whitehouse." That's absurd and laughable.
We have a Congress and Administration...That are at odds with each other, and of little benefit to the American populace.....They MAJORITY of the problem being the Congress or House in general..
Surprisely at a time, of one of our "greatest needs" with Wars and Recession, that we have the constant bickering....
Sadly a mere "handful of fools", can cause such stress for a Country of 350 million.
WANTED DEAD ONLY: ALL CEO's AND 1%'s
Do your civil and patriotic duty and exterminate a 1% today. One scumbag at a time will get the job done.
Exterminate the cancer named GREED!
REWARD: A SANER AND MORE PROSPEROUS AMERICA.
Thank you and God bless America!
Pretty sure the "debt ceiling" was raised 15-18 times under Bush2...So this is just somewhat absurd.
But what I'm not sure about, is what may have been or wasn't tied to the previous processes.
Of course you don`t see a real plan from the far right, they lazy and to bust protecting
the NRA.We need more assult weapons.Those 20 kids didn`t pay taxes, they are
part of the 47%.
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[BRIEFING.COM] The stock market is doing pretty much what it was expected to do today in front of the FOMC decision (i.e. nothing). The major indices are little changed as traders wait anxiously for the Fed's latest directive and updated economic projections.
Everyone is waiting to see if the "considerable time" language is maintained in the directive after Wall Street Journal Fed watcher, Jon Hilsenrath, suggested yesterday it could be.
Mr. Hilsenrath's article ... More
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It's time for a reality check in advance of the Chinese e-commerce giant's much anticipated initial public offering.
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