House Speaker John Boehner said “it’s clear” the U.S. must raise its debt limit, responding to President Barack Obama’s efforts to secure backing to extend the government’s borrowing authority.Yet again, proving that the GOP leadership in Congress are "going along to get along." They, the GOP leadership are part of the problem and not part of the solution. This goes along with the betrayal when we were promised that there would $100 billion dollars cuts immediately...what we got was $38 billion, and that was hailed a a huge cut...until you consider that this years deficit tops $1,700,000,000,000.00... That comes to less than .38% cut. Nothing, not even a drop in the bucket.
“At some point it’s clear to me that we have to increase the debt ceiling,” Boehner, an Ohio Republican, said yesterday on CBS’s “Face the Nation.” “And as we do, we’re going to do it in a way that addresses America’s long-term fiscal challenges.”
Now, we're being told that we must permit this spendthrift president to continue taking the country down the road to financial ruin, and the GOP will just help him along.
We've been told that if the Chinese, who hold huge amounts of US Treasury bonds were to reduce their holdings, that would be catastrophic to the US economy. Guess what...the Chinese have, for the 5th straight month, reduced their holdings of US Treasury bonds.
China, the biggest buyer of U.S. securities, trimmed its holdings for a fifth straight month. The Treasury Department said Monday that China cut its holdings by $9.2 billion to $1.14 trillion.Instead of cutting the deficit, we're gettinng Kabuki Theatre...just going along to get along. Mr. Boehner, you were given a majority in the House of Representatives to substantially cut spending. Paul Ryan (R-WI) has given you a plan to do so...so dammit, start working on real substantive cuts NOW! We can't afford not to.
Mr. Boehner, if you don't follow up your words of last year, next year will so the GOP thrown out of office in records numbers. Just as the Democrats were turned out wholesale.