Will Republicans vote to increase the debt ceiling?

[PokerGuy]

All the bickering over the numbers is pointless. Either way, projo is absolutely right that relative to the overall deficit the "tax cuts for the rich" are a drop in the bucket. $40 billion out of a 1.5 trillion deficit is a pittance.

 

[QuantumPion]

The country is still waiting for the Republicans to send Obama a balanced bill that raises the debt ceiling and removes this uncertainty hanging over the economy. What the hell are they wasting time for?

They are waiting for the Senate Democrats to pass a budget, which they haven't for 2 years.

 

[nobodyknows]

All the bickering over the numbers is pointless. Either way, projo is absolutely right that relative to the overall deficit the "tax cuts for the rich" are a drop in the bucket. $40 billion out of a 1.5 trillion deficit is a pittance.

And trying to balance the budget on the backs of the lower middle class is like trying to get blood from a rock.

 

[QuantumPion]

And trying to balance the budget on the backs of the lower middle class is like trying to get blood from a rock.

That's so true, it's a wonder why Democrats and Obama keep trying.

 

[theeedude]

They are waiting for the Senate Democrats to pass a budget, which they haven't for 2 years.

They passed a budget, that's the law of the land now, the one Obama is going to follow to a letter and keep paying those bills.

 

[GuitarDaddy]

If the Republicans force a default it will come back to haunt them. A quick look at the daily inflows and outlays of government cash show that the elephant in the room is Social Security payments. If all other outlays were cut there would still not be enough revenues to cover SS payments, and conversly if you deferred or delayed SS payments all other cash obligations could be met easily.

Based on that simple observation the only rational way to prioritize cash flow without borrowing would be to suspend SS payments. Then the dems will paint the GOP as sacrificing the elderly to protect tax cuts for the wealthy and subsidies for big oil and corporate tax loopholes. This will be devastating to the GOP as the elderly are a substanial part of the GOP's base.