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So, basically, from The Last Word with Lawrence O' Donnell and his guest Senator Kent Conrad, we learn that McConnell refused to negotiate with Majority Leader Reid and said he will only negotiate with the President. More importantly, Minority Leader McConnell indicated he and his Republican cohorts in the Senate would filibuster the Reid bill. However, that is the only bill that actually can pass the Congress in time to prevent a default and the automatic reduction in our credit rating from AAA to AA which will cause, according to Bank of America and Credit Suisse, a 5 % contraction in our GDP.
The Republicans, therefore, by their filibuster, have forced the US to default with the attendant consequences. The Tea Party people must be so proud !!!!
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You just have to love regressive logic. If the Dems hadn't spent the entire amount of the last debt limit hike, there would be no need to pass a new one at this point in time. If they had passed a large enough debt limit to carry their executive through the 2012 election when they controlled Congress then there would be no limit to debate or compromise at this point. If the Dems would simply pass either of the bills that the House has sent them, then there would be no need to worry about default any longer, unless, of course, the Dem in the Oval Office vetoed the debt limit increase after it was sent to him by Congress.LadyJazzer wrote: Yeah, that would be pretty funny--if it were true... Oh, wait...This is a thread from Viking... So we know it isn't....
So, basically, from The Last Word with Lawrence O' Donnell and his guest Senator Kent Conrad, we learn that McConnell refused to negotiate with Majority Leader Reid and said he will only negotiate with the President. More importantly, Minority Leader McConnell indicated he and his Republican cohorts in the Senate would filibuster the Reid bill. However, that is the only bill that actually can pass the Congress in time to prevent a default and the automatic reduction in our credit rating from AAA to AA which will cause, according to Bank of America and Credit Suisse, a 5 % contraction in our GDP.
The Republicans, therefore, by their filibuster, have forced the US to default with the attendant consequences. The Tea Party people must be so proud !!!!
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PrintSmith wrote:
You just have to love regressive logic. If the Dems hadn't spent the entire amount of the last debt limit hike, there would be no need to pass a new one at this point in time. If they had passed a large enough debt limit to carry their executive through the 2012 election when they controlled Congress then there would be no limit to debate or compromise at this point. If the Dems would simply pass either of the bills that the House has sent them, then there would be no need to worry about default any longer, unless, of course, the Dem in the Oval Office vetoed the debt limit increase after it was sent to him by Congress.LadyJazzer wrote: Yeah, that would be pretty funny--if it were true... Oh, wait...This is a thread from Viking... So we know it isn't....
So, basically, from The Last Word with Lawrence O' Donnell and his guest Senator Kent Conrad, we learn that McConnell refused to negotiate with Majority Leader Reid and said he will only negotiate with the President. More importantly, Minority Leader McConnell indicated he and his Republican cohorts in the Senate would filibuster the Reid bill. However, that is the only bill that actually can pass the Congress in time to prevent a default and the automatic reduction in our credit rating from AAA to AA which will cause, according to Bank of America and Credit Suisse, a 5 % contraction in our GDP.
The Republicans, therefore, by their filibuster, have forced the US to default with the attendant consequences. The Tea Party people must be so proud !!!!
No matter how you slice it, the reason the nation has to worry about default at all is that the Democrats failed in every instance to do what was necessary to avoid it up until this point. They could have spent less than what they raised the limit to last time, they could have passed a larger limit the last time they voted on it when they controlled both houses of Congress or they could simply have accepted that "the election is over John", along with the consequences of getting thoroughly thumped in the mid-term elections. Given their lack of restraint, their lack of foresight and their unwillingness to accept responsibility for losing sole control of the process, here is where we find ourselves today.
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