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Tag Archives: debt ceiling
Rep. Langworthy’s graph
Western New York and the Southern Tier have my unwavering commitment that I will continue to fight for fiscal sanity and government accountability in our nation’s capital.–Rep. Langworthy The president and his negotiators believe they worked out a deal that … Continue reading
The Far Right Case for Default
The validity of the public debt of the United States, authorized by law … shall not be questioned.–Fourteenth Amendment In an opinion article in The New York Times, Michael W. McConnell, a senior fellow at the right-leaning Hoover Institution, argues … Continue reading
Posted in Congress, Constitution, Political, President, Uncategorized
Tagged debt ceiling, Default, Hoover Inst., Michael W. McConnell
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The House operates like a 17th century pirate crew
Seventeenth century pirate crews were nominally democratic much like today’s House. They had norms and rules. The Captain held office at the pleasure of the crew. As in Treasure Island, the Captain could be given “the black spot,” a demand … Continue reading
Posted in Congress, Economics, Political
Tagged black spot, Blackbeard, debt ceiling, Speaker McCarthy, Treasure Island, vacate the chair
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Debt Ceiling 2023
The possibility that the federal government will soon be unable to finance its normal operations has become very real. As I wrote in my last column, this won’t be because investors view U.S. debt as excessive; America in 2023 isn’t Greece … Continue reading
Posted in Political, Congress, Constitution, Economics, President
Tagged debt ceiling, Paul Krugman, Wu, Smialek
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Is the Debt Limit Constitutional?
The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.–Fourteenth Amendment (Section 4) The debt ceiling crisis … Continue reading
PSC Bipartisan Debt Ceiling Framework
It’s unlikely that this situation will be resolved with something resembling the deal that ended the debt ceiling crisis of 2011. Democrats have gotten somewhat tougher: They believe that President Barack Obama gave in to blackmail, and they won’t do it … Continue reading
Posted in Congress, Economics, Political
Tagged debt ceiling, Paul Krugman, Problem Solvers Caucus, Sheldon Jacobson
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GOP Budget Dilemma
Speaker McCarthy may have the votes to pass a GOP budget bill, or not. Either way the result is the same–the debt ceiling remains a problem. Republicans may hope that somehow President Biden, House Democrats or the Senate will solve … Continue reading
Robert Reich on Debt Ceiling Myths
At a speech at the New York Stock Exchange yesterday, Speaker Kevin McCarthy affirmed the Republican’s plan to use the rapidly approaching debt-ceiling deadline to extract spending cuts and other policy concessions from President Biden. Put simply, they plan on … Continue reading
Do we crave circuses?
The government you elect is the government you deserve.— Thomas Jefferson Do we want no more than circuses from our government? It seems so. Why else would we elect clowns as our representatives–you know who some of them are. Why do we tolerate political … Continue reading
Posted in Congress, Economics, Political, Taxes, Uncategorized
Tagged Amo Houghton, Daniel Patrick Moynihan, debt ceiling, Thomas Jefferson
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Raise or Repeal the Debt Ceiling
I have no idea what will happen if, as seems all too possible, we end up defaulting on debt payments because a Republican House refuses to raise the debt ceiling. But it’s not likely to be good. Who will trust … Continue reading
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