Obama, Republicans in high-stakes debt fight

Sarah Palin: Obama 'hell bent' on weakening America
While appearing as a guest on the Laura Ingraham radio program Friday, Sarah Palin openly said what many believe: President Obama is purposefully weaking the United States. “What I believe that Obama is doing right now — he is hell-bent on weakening America," she said. Palin explained by using then Senator Obama's own words in 2006.  While debating whether or not to raise the Debt ceiling, he said: The fact that we are here today to debate raising America’s Debt Limit is a...

Palin: Debt ceiling a plot by Obama to weaken America
Confused, hateful, or both? Sarah Palin is charging that President Barack Obama is “hell-bent on weakening America” by pushing to raise the National Debt ceiling. “What I believe that Obama is doing right now — he is hell-bent on weakening America,” the possible 2012 Republican contender said Friday on “The Laura Ingraham Show.” She accused the president of “purposefully” trying to harm the country and acknowledged that her stinging comments...

Glenn Beck to Michele Bachmann: Are you seriously voting against the debt ceiling?
He insists (as he’s done before) that he’s on the fence about whether they should vote no, but if even a guy who’s famous for apocalyptic Rhetoric is uncomfortable with the possibilities from this vote, it’s a cinch that the GOP will rustle up enough support to raise the ceiling. (No less than Paul Ryan admitted as much yesterday.) The suspense isn’t whether the votes are there; the suspense is whether The One will very foolishly try to capitalize on the GOP’...

Conservatives Admit Debt Ceiling Threat Is A Bluff
It's increasingly clear that Republican leaders are bluffing when they threaten to destroy the full faith and credit of the American government by allowing the Debt ceiling to be shattered unless draconian Budget cuts are made. And a clear bluff is a bad bluff. There is no need to concede to any of their demands to protect American credit and the Global Economy. Last year, the now-Speaker John Boehner said Republicans would have to deal with the Debt ceiling like "adults." And this week, the ...

'It can't happen'
'IT CAN'T HAPPEN'.... A friend of mine following the Debt-ceiling vote emailed today to note that plenty of notable media Conservatives have warned their Republican allies: don't screw around on this. Charles Krauthammer said on Fox News this week, "The Republicans have to be careful here. In the end the Debt Limit will be raised. You can't not pass it. It is catastrophic. It means American debt is in question. It can't happen." Dana Perino told Sean Hannity a day later, "If [Sen. Jim DeMint] ...

Geithner Urges Congress to Raise Debt Limit
(WASHINGTON) — Treasury Secretary Timothy Geithner warned congressional leaders Thursday that the government could reach its borrowing limit by spring and failure to raise it could affect millions of American jobs. The government will reach the limit between March 31 and May 16, Geithner said in a letter to congressional leaders. Not increasing the $14.3 Trillion Debt Limit could lead to Job Losses, he said. Inaction could drive up Interest Rates and make it more costly for U.S. companies...

The Debt Limit Fight: Republicans Blink
You knew President Obama would cave on the Bush Tax Cuts when he first started saying that a deal was going to be made. In a brinkmanship fight, the most important weapon is the willingness to allow failure, or at least credibly threaten to do so. So these comments from Paul Ryan on raising the Debt ceiling are a red -- or rather, white -- flag: Some conservative Republicans have urged their GOP colleagues to resist raising the ceiling -- which currently clocks in at $14.3 Trillion -- under any...

Greenspan Warns of Risks from US Debt
(Wall Street Journal) - Former Federal Reserve Chairman Alan Greenspan said Friday that the US could face a bond-market crisis if politicians don't act soon to start cutting the nation's Debt. In an interview with The Wall Street Journal, Greenspan said that eventually Congress would pass a Budget that includes many proposals by a White House debt-reduction panel. "I think that the type of Budget agreement that was put together by Alan Simpson and Erskine Bowles is the type of Budget that will b...

GOP faces spending test as debt nears $14.3T ceiling
The Obama Administration on Thursday told Congress the government is about to hit the $14.3 Trillion Debt ceiling and will need authority to borrow more, kicking off the first major test of spending restraint and the strength of Republicans' new congressional power. Republicans said they won't agree to a higher Debt Limit unless Democrats agree to strict new spending controls. Democrats warned the GOP not "to play chicken" with The Economy and said hitting the limit could be worse than the finan...

Baucus warns GOP against 'playing chicken' on debt limit
Sen. Max Baucus (D-Mont.) is warning Republicans against "playing chicken" on increasing the statutory Debt Limit. The Finance Committee Chairman agreed with recent GOP calls to reduce the Deficit, but said such efforts should be done in a "serious, Bipartisan Fashion" that "doesn't risk the full faith and credit of our economy and our country in the process," according to a statement released by his office. "Rather than waiting until the last minute, we need to work together with our colleagu...

Familiar Game Being Played with Debt Ceiling
U.S. Treasury Secretary Timothy Geithner has asked Congress to raise the Debt-ceiling, currently set at $14.4 Trillion.  It’s not an unusual request.  Congress has voted to raise the debt ceiling 10 times in the past 10 years, and about 70 times in the last 50, making the “debt ceiling” more of a “debt elevator.”  But this year could be different.  Several Republican members of Congress, many of whom were backed by anti-spending Tea Party groups,...

Obama names Sperling to top economic job
US President Barack Obama will on Friday name Veteran Clinton-era policy expert Gene Sperling to a top White House economic job, in the latest stage of a staff reshuffle, officials said. The move will be the latest step in a staff shuffle that has seen Obama refresh his economic and political teams to meet a strong challenge from resurgent Republicans as he prepares to build a 2012 Reelection campaign. Sperling is a Veteran of divided government battles with Republicans during then-president Bil...

Obama to name Sperling as economic adviser: report
WASHINGTON (Reuters) - U.S. President Barack Obama will on Friday name Gene Sperling, a Clinton-era Veteran, as the head of his National Economic Council, the Detroit News reported. Sperling, a counselor to Treasury Secretary Timothy Geithner, replaces Larry Summers at the economic council and returns to the job he held during the second half of Bill Clinton's 1993-2001 presidency. The council coordinates Economic Policy across the administration, and its head wields great influence within the W...

Hatch says it's up to Obama to pressure Senate Dems on debt limit
Sen. Orrin Hatch (R-Utah) says if Democrats want to find agreement on raising the Debt ceiling, President Obama will have to pressure congressional leaders to make serious concessions on Spending Cuts.  Hatch said he expects the new Republican majority in the House to vote to slash spending considerably in the run up to the vote on raising the Debt ceiling, which will place the ball in the court of Senate Democrats.   "That means the White House will have to exert its influence over Senate D...

No Negotiations on the Debt Limit
Here’s Paul Ryan talking about the Debt ceiling: But House Budget Chairman Rep. Paul Ryan says that tactic isn’t viable. “Just refusing to vote for it, I don’t think that’s really a strategy,” he said, noting that a failure to raise the ceiling could result in the nation defaulting on its debts to investors. “Will the Debt ceiling be raised? Does it have to be raised? Yes,” he said at an event sponsored by economics21 and the Manhattan Institute ...

Another Day Older And Deeper In Debt
(Alternate title: The Ceiling! The Ceiling! The Ceiling's On Fire!) OK, let's talk red ink. The US government is rapidly approaching its Debt ceiling of 14.3 Trillion dollars (let's write that out -- $14,300,000,000,000.00), with estimates we'll hit it around March or April. The Republicans are talking about saying "no mas" and cutting enough to keep it from getting there. The Democrats are running around, screaming about apocalypse and defaults and shutdowns should we not raise it to allow Was...

Leftovers - January 7, 2011
House Republicans had a rough first week in the majority. The Economy added more jobs in 2010 than it did during the entire Bush Administration. After his 2008 debacle, Rudy Giuliani is reportedly considering a run for the White House. Rep. Steve King loses out on the chairmanship of the Immigration subcommittee. In related news, King appears not to know what "mendacity" means. GOP Budget Chairman Paul Ryan knows that Congress has to raise the Debt ceiling. Reps. Pete Sessions and Mike Fit...

Re: The Debt Ceiling ... to raise or not to raise?
Over at Contentions ... Peter Wehner addresses Treasury Secretary Timothy Geithner's letter to Congress yesterday, and makes an 'adult' argument for the GOP to agree to an increase in the Debt ceiling as a way to win concessions on spending ... saying that the argument for limiting the size of the federal government and reducing spending is extremely strong - but refusing to raise the Debt ceiling, however, isn't the way or the place to do it. While my gut tells me Wehner's right, in my heart of...

Obama Appoints Ultimate Wall Street Insiders to Top Posts Again
Washington’s Blog strives to provide real-time, well-researched and actionable information.  George - the head writer at Washington’s Blog - is a busy professional and a former adjunct Professor. ~~~ Obama is replacing his chief economic adviser - Larry Summers - with Gene Sperling. Sperling is currently a counselor to Treasury Secretary Timothy Geithner, and is now being appointed as Obama’s chief economic adviser. He’s been there before: Sperling will

Obama Names Sperling to Lead Economic Council
WASHINGTON—President Barack Obama rounded out his economic team Friday by naming former Clinton Administration adviser Gene Sperling as head of the National Economic Council. Mr. Sperling is currently a senior adviser to Treasury Secretary Timothy Geithner. His skills include navigating through feisty, partisan waters. He helped lead negotiations for the Obama administration during a tough fight over Bush-era Tax Cuts. While Republicans got what they wanted—an extension of tax cuts ...

Palin: Obama Hell Bent on Weakening America
On today’s Laura Ingraham Show, Governor Palin does not mince words about McCain, Obama, and makes an interesting comment about her travel plans for the upcoming year. Laura: “That’s your former Running Mate. That’s the guy who picked you on the ticket talking about comprehensive Immigration reform.” Palin: “I’m giving him [McCain] the benefit of the doubt that he’s got some ideas that ultimately will result in no Amnesty and securing our borders. ...

Rep. Weiner (D-NY) slams GOP for violating their own rules, limiting debate
Today the Republicans attempted to provide a quick fix to a Constitutional problem caused when two of their own members failed to attend a swearing-in ceremony before casting votes.  Representatives Pete Sessions (R-TX) and Mike Fitzpatrick (R-PA) both attended a Fundraising event while the rest of the House was being sworn in.  Article VI of the United States Constitution requires all members take an oath before performing any of the duties of their office.  Rep. Session actually...

Palin: Obama 'hell bent' on weakening America
Sarah Palin is charging that President Barack Obama is “hell-bent on weakening America” by pushing to raise the National Debt ceiling. Continue Reading Text Size - + reset Politico 44 “What I believe that Obama is doing right now — he is hell-bent on weakening America,” the possible 2012 Republican contender said Friday on “The Laura Ingraham Show.” She accused the president of “purposefully” trying to harm the country and acknowledged tha...

Today's Electoral Politics
Digby links to an article in the National Journal about the composition of the current Democratic Party and Obama's chances 2012. I haven't decided on what I think about the piece but it's a good start for discussions. Note, for example, these snippets: From every angle, the exit-poll results reveal a new color line: a consistent chasm between the attitudes of whites and Minorities. The gap begins with preferences in the election. Meanwhile, Republicans, with their 60 percent showing, notched th...

Hairdresser Observations
I had my hair cut today (humongous amounts of hair on the floor afterward). I also got told off (as usual) for trimming my own bangs (with nail scissors) in-between the visits. (My hairdresser is great, and most of that's just part of our usual bantering. But how odd that it's the very first thing he said to me when I walked in! Are my bangs really that uneven? Don't answer.) These visits are my time to catch up on women's magazines, and that's what I did today, too. My instant impression: Model...