On a conference call, Chuck Schumer urged House Speaker John Boehner to renounce the threat to allow a default of the United States’ financial obligations by blocking an increase in the debt ceiling. This threat, even if it’s contrasted with an implicit guarantee to raise the debt limit eventually, could be enough to send the nation’s financial markets into a tailspin.
|By: David Dayen Thursday May 5, 2011 9:35 am|
If Cantor thinks that Democrats and their allies will suddenly forgive and forget about Republicans and their vote to, yes, end Medicare, he’d better not watch TV in October 2012.
|By: David Dayen Monday May 2, 2011 4:00 pm|
Today the Congress returned to session for a month in which the Treasury Department is expected to reach the debt limit. They may be able to take extraordinary measures to keep under the limit for a while, but it’s likely that under normal conditions, the limit will be reached this month. Joe Biden will open a discussion between the parties on how to get a vote passed to increase the limit this week.
|By: David Dayen Thursday April 28, 2011 12:47 pm|
The endgame of the deficit fight is going to be so brutal and so predictable I can barely bring myself to watch it. Republicans will say “we won’t raise the debt limit” even though they’ve privately assured Wall Street and the President they will. Democrats will say “this is irresponsible” even though they’ll attach something just as irresponsible to what ultimately passes. And the compromise reform will end up as something the White House wanted anyway.