Tag: Debt Ceiling

Because we aren’t going to let you get out from under it….

Thus spoke Anthony Weiner on on May 24th, laying out the Republican plan to replace Medicare with an inadequate voucher program:

Today, House Republicans brought another bill (HR 1216) to the House floor that does not address jobs and wastes time in a futile attempt to repeal part of the Affordable Care Act. House Democrats are staging a “mini-filibuster” by “striking the last word” allowing them five minutes of time to discuss their strong opposition to the Republican-passed budget which ends Medicare as we know it and forces seniors to pay over $6,000 more a year.

   Weiner: I move to strike the last word Mr. Chairman. Mr. Chairman, you may recall I was standing here approximately two hours ago waiting to speak with several other members on the efforts of my Republican friends to eliminate Medicare as we know it and for reasons that are known only to the Chair, I was denied the ability to do that. Well, I’m back. And just to review the bidding, here’s where it was before that order was made. We had the Chairman of the Republican Congressional Campaign Committee, a good man, a guy I like, stand down in the well and say, ‘Oh, no’ (and this by the way is someone who is elected by the Republican members to represent them in races all around the country) saying that the Ryan plan wasn’t a plan it was and I’m quoting here, “a construct to develop a plan” and he said the proposal is not a voucher program and then he said it was a one size fits all, that Medicare was draining our economy is what he said.

  Well, ladies and gentlemen, that might be the rationale for our Republican friends wanting to eliminate Medicare, but none of those things are true. It is not a ‘construct to develop a plan’ it is the proposal of the Republican party of the United States of America to eliminate Medicare as a guaranteed entitlement. If you don’t believe me, go get the book that they wrote, go get the budget that they wrote, go get the bill that they wrote.

h/t to Crooks & Liars for the transcript.

The Ryan Budget plan has failed in the Senate with 5 Republicans opposing it, the Republicans are still embracing the proposal to eliminate Medicare. They are in denial about the loss of NY-26, long a Republican stronghold. to Democrat Kathy Hochul. The sadder part is the White House has also missed the message

Joe Biden group to tackle Medicare and Medicaid: aide

Vice President Joe Biden and top lawmakers will examine government-run health plans on Tuesday as they try to work out a deal to raise the United States’ borrowing authority, a congressional aide said.

h/t Marcy Wheeler

It would appear that the White House is willing to sell out future seniors to give political cover for raising the debt ceiling.

This video of an interview with Dean Baker, co-director for the Center for Economic Policy and Research, discussing the debt ceiling and holding the federal budget hostage is a good discussion of what could happen if the debt ceiling is not raised. Baker  clearly in the side of raising the debt ceiling but if it comes down to a choice of default and Social Security, he would choose saving Social Security.

There are those who are convinced that the GOP will not allow a default to happen and there has been a lot of pressure from Wall St and banking lobbyists to not play games with this. There is a lot of mistrust that Obama is playing some game that will end up slicing deeply into Social Security and Medicare to make it look as though he had no choice. He does have a choice to insist on a clean bill to raise the debt ceiling and take Social Security and Medicare off the bargaining table. If he doesn’t, as Paul Krugman said, “he might as well move out of the White House, and hand the keys over to the Tea Party.”

Did you know that the Federal government hit the debt ceiling? Did you know that the US government owns 70% of the state of Utah? Did you know that the US government also still has lots of gold in Ft. Knox? The right wing Tea Party Republicans, who now hold the country hostage, have suggested we hold a “garage sale” and sell off assets to pay the ransom.

Many conservative Republicans in the House of Representatives, especially those affiliated with the small-government Tea Party movement, say that Geithner and the White House are trying to panic them into raising the debt limit.

They also contend that the Treasury has other options to continue meeting the country’s obligations, such as selling assets including gold reserves and government land.

“There is no certain day,” said congressman James Lankford, a member of the fiscally conservative Republican Study Committee. “It’s a moving target. Even if Aug. 2 is passed, Treasury has the tools in its back pocket to keep us from defaulting.”

Lankford added: “Treasury has done a good job of trying to increase the panic, rather than giving us solutions.”

Dennis Ross, a House Republican and a member of the Tea Party caucus, told Reuters: “I don’t think Treasury has been up front with us. I am not convinced the sky will fall in on August 3.”

Ross added: “I’m not an economist, but I have maintained a household. The federal government owns 70 per cent of Utah, for example. There are federal buildings. If you need cash, let’s start liquidating.”

If they decide to sell off chunks of Nevada, I want first dibs on Area 51.

You cannot make this up:

Paul Ryan’s PAC slams AARP as ‘left-leaning pressure group’

Rep. Paul Ryan’s (R-Wis.) political group went on the attack Monday against AARP, calling one of the most powerful lobbies a “left-leaning pressure group.”

   Ryan’s Prosperity PAC sought to push back on attacks by AARP against the House Budget Committee chairman’s 2012 budget, specifically its proposed changes to Medicare.

   “Last week, the American Association of Retired Persons (AARP), a left-leaning pressure group with significant business interests in the insurance industry, launched a national ad campaign that intentionally misleads seniors about the Medicare debate,” wrote Pat Shortridge, a senior adviser to Ryan’s PAC, in an email to supporters.

   Ryan’s Medicare proposal has been a particular point of criticism by Democrats and groups on the left, which say that the Medicare plan would significantly revamp the entitlement program to the detriment of seniors. Democrats have homed in their attacks against that part of the Ryan budget, which has sparked some degree of heartburn among Republicans.

   AARP launched ads last week warning against “harmful cuts” to Medicare and Social Security it said Republicans favored.

History repeating itself from 2005]:

Now some people on the right want you to think of gay marriage and Sunni insurgency. The New York Times this morning reported that the lobbyists who brought you the “Swift Boat Veterans for Truth” have been contracted to promote the agenda of USA Next, a conservative lobbying group. To build support, USA Next is portraying AARP – which opposes the White House’s pseudo-plan for privatizing Social Security – as some kind of liberal extremist group.

How’d that 2006 election turn out, Mr. Ryan?

“Boner” tells Wall St. Medicare is still on the agenda to raise the debt ceiling:

In a speech to the Economic Club of New York in Midtown Manhattan, the Ohio Republican is set to reiterate to leading financial executives that he believes that reforming Medicare should be part of negotiations in raising the debt ceiling, saying that there needs to be “an honest conversation,” because the program is on an “unsustainable path if changes are not made,” according to sources familiar with the speech. Boehner also is expected to advocate for immediate cuts rather than deficit and debt targets preferred by some Democrats.

After his talk, Boehner will take questions from two prominent Wall Street players at the intersection of Washington power: Peter G. Peterson, the private-equity giant who worked for President Richard Nixon, and Observatory Group CEO Jane Hartley, who worked for President Jimmy Carter….

Boehner’s public insistence that reforming Medicare stay a part of debt ceiling negotiations could reaffirm a concern among Wall Street types that Republicans are driving a hard bargain on the limit and will take the negotiations up to the last minute. Boehner said last week Congress must now cut trillions, not billions….

Friday evening, in a sign of unity after a disjointed week, GOP leadership, along with Ryan and Camp, released a statement saying “everything must be on the table except increasing taxes.”

Freshmen, who voted en masse for the Ryan budget, largely want entitlement reform dealt with.

President Obama needs to stand up to these threats to the social safety nets and let the GOP send itself into political oblivion. I have my doubts that Obama can do this. I will be shocked, I tell you shocked, if he calls them in this. This is no longer 11 dimensional chess. It’s now a game of straight draw poker.  

John Aravosis at AMERICAblog, after considering  his own wage losses and others who can’t find jobs, thinks that it may be time to just let the Republicans do their worst and let them destroy the economy:

If the Republicans want to make a political/electoral issue out of the debt ceiling, then let’s not raise it. Hand the keys to the legislation, to to speak, to Boehner and McConnell, and tell them it’s their choice whether the legislation passes. And when it doesn’t pass, and the world economy melts down, no one will elect a Republican for decades to come.

I’m simply tired of dealing with Democrats who don’t have half a brain or half a backbone, and Republicans who would rather demagogue, and lie, than fix the country.

I’m getting there.