Debt Ceiling Pressure Builds on House GOP Leaders

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"Obama On Raising the Debt Ceiling". barry against.
"The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies."
"Over the past 5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion.That is “trillion” with a “T.” That is money that we have borrowed from the Social Security trust fund, borrowed from China and Japan, borrowed from American taxpayers. And over the next 5 years, between now and 2011, the President’s budget will increase the debt by almost another $3.5 trillion."
"Numbers that large are sometimes hard to understand. Some people may wonder why they matter. Here is why: This year, the Federal Government will spend $220 billion on interest. That is more money to pay interest on our national debt than we’ll spend on Medicaid and the State Children’s Health Insurance Program. That is more money to pay interest on our debt this year than we will spend on education, homeland security, transportation, and veterans benefits combined. It is more money in one year than we are likely to spend to rebuild the devastated gulf coast in a way that honors the best of America."
"And the cost of our debt is one of the fastest growing expenses in the Federal budget. This rising debt is a hidden domestic enemy, robbing our cities and States of critical investments in infrastructure like bridges, ports, and levees; robbing our families and our children of critical investments in education and health care reform; robbing our seniors of the retirement and health security they have counted on."
"Every dollar we pay in interest is a dollar that is not going to investment in America’s priorities."
Senator Barack Obama
Senate Floor Speech on Public Debt
March 16, 2006
http://geekpolitics.com/obama-on-raising-the-debt-ceiling/

Bill Hedges of MO 12:02AM June 17, 2011

Paul O'Neill, Bush's Secretary of the Treasury, said that those opposed to raising the debt ceiling are terrorists, akin to al-Qaeda.
http://www.bloomberg.com/news/2011-04-27/opponents-of-debt-limit-rise-are-terrorists-o-neill-says.html
We shouldn't negotiate with terrorists, much less give into their malicious ransom demands.

Alan of MT 6:49PM June 16, 2011

Rumor is they have $$$ 1 trillion in cuts but need $$$ 2 trillion in cuts. To raise debt ceiling by $$$ 2 trillion.
They are being silent and could be true. Don't know yet. For sure is not Democrat idea if these big cuts occur.

Bill Hedges of MO 6:58PM June 15, 2011

The slant on the story is typical. The bottom line is that everyone knows there needs to be cuts. How are the Dems feet not held to the same fire? The pressure needs to be applied equally. Without the leverage of cuts then its the "same old, same old" and nothing gets done. Then we wait until the next budget impasse with the same results. Someone with some backbone has to emerge from the left.

DK of OH 6:44PM June 15, 2011

The Republicans are barking at us and parading around with bluff, bluster and giving us lip service about toeing a line. In the end, their bark will be worse than their bite. They will blink. The debt ceiling will increase and the deal Republicans cut will result in few, if any, tangible spending cuts. Then, Republicans will have the audacity to spin their failure and try and convince Americans that Obama and the Democrat party caused the failure . . . and I'm Republican.
I just don't see Republican leadership standing up to Obama's brownshirts.

david of ID 5:02PM June 15, 2011