Manchin Compares Dems and GOPers on Debt Ceiling, Spending

“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.

Six GOP Senators Changed Vote on Debt Ceiling Issue


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.”

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

$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.

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

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?

Budget Showdown Looming in Mid-October

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.