*Government Shutdown

Here We Go Again – The Debt Ceiling Edition

With a government shutdown still hanging in the balance, House Republicans are already making their threats on the next fight: holding the debt limit hostage in order to defund or undermine Obamacare. We all know that a government shutdown would have a negative impact on our economy, but we also know that the threat of a default could cause even greater harm to our national and global economy.  And the warnings keep coming. This time it’s in the form of a new report by Macroeconomic Advisers:

We see the possibility of hitting the debt ceiling later this fall as a far larger threat to the economic outlook…”[9/25]

Unfortunately the incessant warnings just aren’t enough for some Republicans who are still all too willing to play games with the debt limit. The GOP’s “everything AND kitchen sink strategy” to raise the debt ceiling leaves us at risk of defaulting on our nation’s financial obligations. Some eye opening statements from Republicans that they think it’s ok to play games with a default, courtesy of POLITICO,:

Senate Minority Whip John Cornyn (R-TX): “I think the debt ceiling is a good opportunity … to defund or at least delay. I’m for delay, defund, repeal, demolish, destroy, whatever the ‘d’ is, when it comes to Obamacare — I’m for.”

Sen. Bob Corker (R-TN): “I think there are some achievable things that — like the individual mandate, like the medical device tax … it seems to me that we ought to try to achieve some wins, some policies that we can actually put in place.  I think on the debt ceiling, the best approach would be try to actually achieve something of substance as far as altering the legislation.”

Sen. Roy Blunt  (R-MI): “The debt ceiling provides more of an opportunity to get something than the [continuing resolution] does.”

Rep. Tom Price (R-GA): “As history has shown, the time to get significant changes to spending is on the debt limit. Any increase in the debt limit must be accompanied by an equal decrease in spending and reforms.”

2011 in itself should be warning enough to resist going down this irresponsible and reckless road again. We’ve seen this movie before and it doesn’t end well.