360° Coverage : Amid shutdown stalemate, hope over debt limit

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Amid shutdown stalemate, hope over debt limit
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Amid shutdown stalemate, hope over debt limit

Oct 4 2013, 12:00am CDT | by IANS

Washington, Oct 4 (IANS) As US President Barack Obama launched a blistering attack on Republicans for their "reckless" refusal to pass a "clean" spending bill to end the government shutdown, a ray of hope emerged on the looming debt limit crisis.

Washington, Oct 4 — As US President Barack Obama launched a blistering attack on Republicans for their "reckless" refusal to pass a "clean" spending bill to end the government shutdown, a ray of...

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Amid shutdown stalemate, hope over debt limit

Oct 4 2013, 12:00am CDT | by IANS

Washington, Oct 4 (IANS) As US President Barack Obama launched a blistering attack on Republicans for their "reckless" refusal to pass a "clean" spending bill to end the government shutdown, a ray of hope emerged on the looming debt limit crisis.

Washington, Oct 4 — As US President Barack Obama launched a blistering attack on Republicans for their "reckless" refusal to pass a "clean" spending bill to end the government shutdown, a ray of hope emerged on the looming debt limit crisis.

House Speaker John Boehner, whom Obama Thursday challenged to quickly hold a vote on a "clean" spending bill with no conditions to dump or delay his signature healthcare law, was reported to have told fellow Republicans he won't let the nation default on its debt.

Boehner, according to various media reports, told party legislators at a private gathering that he would be willing to rely on Democrats to do so by setting aside the so called "Hastert Rule" by which Republicans bring only those measures for a vote that are backed by a majority of their caucus.

Congressional Republicans remain divided on how to structure legislation to raise the federal debt ceiling to avoid having the US default on its obligations. Officials say US is set to run out of money to cover its roughly $16.7 trillion debt by Oct 17.

Boehner's reported willingness to turn to Democrats to prevent a US debt default came shortly after Obama and his Treasury Department warned that a default on US debts would be worse than the closure and could trigger another global financial crisis like the one in 2008.

"As reckless as a government shutdown is... an economic shutdown that results from default would be dramatically worse," Obama said during an appearance Thursday at a construction company in Rockville, Maryland, just outside of Washington.

With no end to the stalemate in sight, Obama suggested Boehner is preventing a vote on a funding bill because he doesn't want to anger tea party "extremists" in his party, who want to derail his signature healthcare law.

Boehner is the only thing standing in the way of reopening the federal government, he said calling on the Republican leader to bring a "clean" bill before the House and predicting it would pass with bipartisan support.

Democratic controlled Senate has rejected three attempts by Republican-run House to pass a bill paying for government services while also trying to delay all or parts of the health care law.

Obama and other Democrats have said they're willing to negotiate a broad budget deal that could include tax reforms and other matters, but only willing after the government reopens.

"This whole thing is about one thing," Obama said. "The Republican obsession with dismantling the Affordable Care Act."

The longer the shutdown goes on, the worse the impact on the US economy will be, Obama said as the Treasury Department warned amid an impasse over raising the country's debt-limit that mere prospect of default endangers economy.

"Political brinksmanship that engenders even the prospect of a default can be disruptive to financial markets and American businesses and families," the Treasury Department said in a report released Thursday.

(Arun Kumar can be contacted at arun.kumar@ians.in)

IANS

Source: IANS

 
Update
11

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WASHINGTON, D.C. — In order to obtain more conservative votes some provisions might be added to the House border bill, according to House Rules Committee Chairman Pete Sessions. “I think the issue is whether there will be provisions added to get their vote, not provisions added that would diminish the bill,” he told reporters Wednesday. Sessions said that a provision targeting President Obama’s Deferred Action for Childhood Arrivals – which allows certain illegal immigran ...
Source: Big Government   Full article at: Big Government
 

 
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Source: Big Government   Full article at: Big Government
 

 
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Source: Big Government   Full article at: Big Government
 

 
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Source: Big Government   Full article at: Big Government
 

 
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Source: Big Government   Full article at: Big Government
 

 
Update
5

1 day ago

Karl Rove: Shame on Conservative Republicans Who Are Floating Impeachment

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Campaign strategist Karl Rove denounced talk about Republicans impeaching President Obama, including White House efforts to stoke the rumors. On Fox News Wednesday morning, Rove referred to Obama as the “cynic in chief” who was fueling the rumors for the sake of fundraising. “How cynical. How pathetic,” he said. Rove reminded the audience that House Speaker John Boehner denied that Republicans had any plans to impeach the pr ...
Source: Big Government   Full article at: Big Government
 

 
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4

1 day ago

Five Things to Remember about Obama's Clean Power Plant Rule

Jul 29 2014 9:49pm CDT | Source: Politics - The Huffington Post

Thursday and Friday EPA will hold in this city the final in its series of hearings on its proposed rule to clean up carbon pollution from coal fired power plants. There will be a lot of theater, and a lot of opposition as well as support. Some of the opposition comes from workers from coal mining communities or those with power plants fired with coal; their livelihoods are at risk from the changes sweeping the utility industry, including the declining dominance of coal. Others are i ...
Source: Politics - The Huffington Post   Full article at: Politics - The Huffington Post
 

 
Update
3

1 day ago

Fear Of Inaction Drives GOP Acceptance Of Border Bill

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Source: Big Government   Full article at: Big Government
 

 
Update
2

2 days ago

Senate Democrats Seek To Split GOP On Export-Import Bank

Jul 29 2014 7:55am CDT | Source: Politics - The Huffington Post

WASHINGTON (AP) — Familiar with the Export-Import Bank? In all likelihood, most voters in Louisiana and Virginia aren't either. And yet Democratic Sen. Mark Warner is talking about the bank on the campaign trail, portraying it as a job creator that must be protected against tea party ideologues. "We've got to do more so support our export capabilities. We've got to make sure we keep ...
Source: Politics - The Huffington Post   Full article at: Politics - The Huffington Post
 

 
Update
1

2 days ago

Fleming: Boehner's Team 'Toning Down' Border Crisis Legislation in Wake of Conservative Criticism

Jul 28 2014 9:48pm CDT | Source: Big Government

One of the key immigration hawks in the House is signaling that changes to a border crisis package could find acquiescence from the right flank of the GOP conference, although he and like-minded colleagues are still looking to see a resolution accompany the package expressing protest against President Obama's executive actions on amnesty. Rep. John Fleming (R-LA) told Breitbart News that he expects the legislation that House Speaker John ...
Source: Big Government   Full article at: Big Government
 

 

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