Debt Ceiling Archives

Manchin Compares Dems and GOPers on Debt Ceiling, Spending

March 3, 2023 Buck Banks

“My Democratic friends don’t want to say a word about our out of control spending and are outright refusing to even talk to Republicans about reasonable and responsible reforms… My Republican friends refused to offer any specifics, and some have recklessly threatened default, which is absolutely not on the table, cannot be on the table and will not happen.”

— Sen. Joe Manchin (D-WV), quoted by Politico.

Schatz: Debt Ceiling Will ‘Resolve Itself’

August 11, 2021August 11, 2021 Buck Banks

“I am predicting, with absolute certainty, it will resolve itself uneventfully. Because it always does.”

— Sen. Brian Schatz (D-HI), quoted by Politico, on the debt ceiling standoff.

The Looming Republican Rebellion

September 7, 2017 Buck Banks

“I think there’s going to be a rebellion against everybody, not just leadership. If we get to December and we’ve not repealed Obamacare, don’t build the wall… it’s not going to be pretty.”

— Rep. Mark Meadows (R-NC), quoted by Axios.

Six GOP Senators Changed Vote on Debt Ceiling Issue

February 14, 2014February 14, 2014 Buck Banks

6

Number of Senate Republicans who switched from ‘nay’ to ‘aye’ on the critical vote allowing the nation’s debt limit to be extended, a copy of the official Senate vote tally sheet provided to Roll Call suggests. “The tally sheet is the only record of which senators may have switched their votes because the Senate clerk — in a break with tradition — didn’t name names during the nearly hourlong vote. Capitol Hill reporters are protesting that change, still within the rules, as lacking transparency.”

Boehner Is Pragmatic — In Secret

February 4, 2014 Buck Banks

There’s no sense picking a fight we can’t win.

— Speaker John Boehner, quoted by Roll Call, in a private GOP conference meeting on raising the debt ceiling.

If It Defaults, the Government Won’t Run Out of Money Tomorrow

October 16, 2013 Buck Banks

$36.5 billion

Amount the Federal Treasury will have on hand to pay its bills if the debt ceiling isn’t lifted by Oct. 17. Revenues and cash reserves will probably cover the $12 billion of social security payments due Oct. 23 and the $3 billion of Federal salaries due on Oct. 25. But they may not cover the $6 billion of debt interest payments due on Oct. 31 and almost certainly won’t cover the $57 billion of social security, Medicare, military and income support payments due on Nov. 1, according to FT Alphaville.

It’s Better to Preserve Than Try to Restore Credit

October 16, 2013 Buck Banks

Credit worthiness is like virginity, it can be preserved but not restored very easily, so it is crazy to play around with it.

— Warren Buffett, in an interview on CNBC.

I Really Want to Buy Into This Slate Pitch, But …

September 25, 2013September 25, 2013 Buck Banks

I’m not sure I can swallow the assertion that Barack Obama is the shrewdest political tactician since LBJ, but David Corn does make a compelling case, and I really do want to believe that all this time Obama knew exactly what he was doing on Syria, Putin and the debt showdown.

I suppose he’s just being Lincoln-esque. Again …

Do you buy the pitch?

GOP Playing Russian Roulette in Debt Ceiling Debate

September 24, 2013 Buck Banks

An approach to the debt ceiling that says one will not vote for its extension unless ObamaCare is defunded is the political equivalent of playing Russian roulette with all the chambers of the gun loaded. It is the ultimate no-win strategy.

— Former Sen. Judd Gregg (R-NH), writing for The Hill.

Budget Showdown Looming in Mid-October

August 27, 2013 Buck Banks

Protecting the full faith and credit of the United States is the responsibility of Congress, because only Congress can extend the nation’s borrowing authority. Failure to meet that responsibility would cause irreparable harm to the American economy.

— Treasury Secretary Jacob Lew, explaining in a letter to House Speaker John Boehner sent Monday, Aug. 26, the consequences of not extending the debt ceiling.

— Sen. Joe Manchin (D-WV), quoted by Politico.

“I am predicting, with absolute certainty, it will resolve itself uneventfully. Because it always does.”

— Sen. Brian Schatz (D-HI), quoted by Politico, on the debt ceiling standoff.

“I think there’s going to be a rebellion against everybody, not just leadership. If we get to December and we’ve not repealed Obamacare, don’t build the wall… it’s not going to be pretty.”

— Rep. Mark Meadows (R-NC), quoted by Axios.

6

There’s no sense picking a fight we can’t win.

— Speaker John Boehner, quoted by Roll Call, in a private GOP conference meeting on raising the debt ceiling.

$36.5 billion

Credit worthiness is like virginity, it can be preserved but not restored very easily, so it is crazy to play around with it.

— Warren Buffett, in an interview on CNBC.

An approach to the debt ceiling that says one will not vote for its extension unless ObamaCare is defunded is the political equivalent of playing Russian roulette with all the chambers of the gun loaded. It is the ultimate no-win strategy.

— Former Sen. Judd Gregg (R-NH), writing for The Hill.

Protecting the full faith and credit of the United States is the responsibility of Congress, because only Congress can extend the nation’s borrowing authority. Failure to meet that responsibility would cause irreparable harm to the American economy.

— Treasury Secretary Jacob Lew, explaining in a letter to House Speaker John Boehner sent Monday, Aug. 26, the consequences of not extending the debt ceiling.

Poetic Justice

Verbatim

“It does make the conversation of the primary all about Trump, which is a good dynamic he had going for him in 2016, everyone being asked to react to Trump. We’re right now fighting a primary so all that matters is the party, and we can deal with the general after….”

— A GOP operative, quoted by the Washington Post, on the impact of Donald Trump being indicted.

— Gov. Ron DeSantis, when asked about Donald Trump’s “Ron DeSantimonius” nickname for him.

“I’m emancipated now.” — Rep. Nancy Pelosi (D-CA), quoted by the Los Angeles Times, on her life as a backbencher.

— Alexander Burns

— Florida Sen. Marco Rubio, distancing himself from Florida Gov. Ron DeSantis’ apparent flip-flop on the war in Ukraine, on the Hugh Hewitt radio show.

Numerati

$20

Politico: “After inflation rocketed upward last year, those pushing for higher minimum wages see a new opening to gain ground on raising worker pay.”

3,500

$3,300

“Donald Trump asked his followers to sign a petition denouncing his potential arrest in New York,” Insider reports. “But signing this petition leads people straight to a page where they’re asked to give $3,300 or other suggested amounts of cash to his 2024 campaign.”

1.5

21

Twenty-one members of the South Carolina State House are considering a bill that would make a woman who has an abortion in the state eligible for the death penalty, Rolling Stone reports.