The reason we have a debt ceiling problem is because we need spending bills. We need spending bills because we haven’t had a budget in four years even though it is illegal to not have a budget. Harry Reid and Barack Obama are responsible for our not having a budget. The only budget Reid allowed to get to the Senate floor was Obama’s and it was voted down by his own party.
Obama spoke for an hour today at a press conference and spent most of his time talking about the debt ceiling. He made it clear that he will not negotiate with Congress about the debt ceiling.
The balance of powers as enumerated by our Constitution allows for this debate to keep the Executive Branch in check. The House, not the Executive, is in charge of our money.
Prior to this conference, Obama’s administration has threatened Republicans with a platinum coin to pay off the debt as a way of bypassing Congress. The Treasury ended that as a possibility yesterday. Obama has also threatened to ignore Congress by raising the debt ceiling via executive order.
The press conference today did not allude to either of those two options. President Obama did say there would be delays in payments to seniors and the military if the debt ceiling is not raised. He also said that homeowners, small businesses and students would all be hurt. President Obama would have the decision over who gets hurt and by how much.
He disingenuously said we would go into default if the ceiling is not raised. That is not true. We take in enough money to avoid default. What is paid or not paid beyond our debt is his choice.
These are the same threats he made during the last debt ceiling debate. If he negotiates, this wouldn’t even be a question. He is willing to hurt pretty much the entire country to snare the power of spending from Congress and put it in the hands of the Executive.
President Obama attacked Republicans today for passing spending bills (which he demanded) and said they now don’t want to pay for the bills they passed. In almost four years, Reid’s Senate has not passed a budget in violation of the law and our Constitution.
The fact is that Republicans have nothing but the debt ceiling to bargain with.
The entire speech today was an attack on his opponents and he presented no new ideas. He does want to continue taxing and spending.
The following exchange with Major Garrett of CBS News is a good representation of the entire conference:
President Obama voted against raising the debt ceiling as Senator but now that the tables are turned, he calls the Republicans extreme for doing what he himself has done. Republicans actually want to negotiate but they want equivalent cuts for each dollar of spending. Obama said he will not negotiate at all – isn’t that extreme?
Listen to Senator Obama’s statement when he was a Senator and the tables were reversed:
President Obama said he’d discuss cuts after the ceiling is raised $4 trillion to cover debt and deficits. What a deal!
“The American people do not support raising the debt ceiling without reducing government spending at the same time. The consequences of failing to increase the debt ceiling are real, but so too are the consequences of allowing our spending problem to go unresolved. Without meaningful action, the debt will continue to act as an anchor on our economy, costing American jobs and endangering our children’s future. The House will do its job and pass responsible legislation that controls spending, meets our nation’s obligations and keeps the government running, and we will insist that the Democratic majority in Washington do the same.”
Personally, I have no idea what the American people want anymore but I want the spending to stop before the economy crashes. We cannot keep running up this kind of debt. Eventually, the interest will be so high, we won’t be able to do anything but pay the interest on our loans. Don’t forget that if our country’s credit rating is lowered, we will have to pay a much higher interest rate than we do now. We are playing with fire.