Saturday, December 21, 2013

On Debt Limit Increase - President Obama is Right not to Negotiate with Republicans



I was glad to hear that President Obama - once again will not allow Congressional Republicans to hold the nation hostage over raising the debt limit. That's right Mr. President -- call their bluff. Let's see if the GOP is suicidal enough in an election year to let America go into default over money that they, the Congress already spent but want to negotiate over paying the bill when it comes due.
 The issue here is that the Republicans have once again misled their base with respect to the Debt limit.
That's right -- somehow, the Republican primary voters think that raising the debt means giving more money to the president to spend; when in fact - it is Congress paying creditors on the interest for the debt it has approved and spent in past years.

 It's like telling your creditor (Visa/MC) - look if you don't give me a new car, I will not make a payment on the loan you gave me that I have already spent -- that's right (LOL!). The President is the guardian of our credit via the Treasury so he must make sure that our credit is good. It is Congress who appropriates and tells the president how much to spend and what to spend on.

So now - the Republicans have backed themselves into a corner with their base because of their misrepresentations to an electorate who are so disdainful of Obama that they are easily hoodwinked. Just us they were lead to believe that Obmacare could be repealed - they now believe that raising the debt limit is akin to giving the White House more money to spend. Here comes another Reality Check -- Can't wait for the impending Beat Down!!!
Read more about the debt limit @ Mother Jones

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