April 9, 2011

HAVING ESTABLISHED THE NOTION THAT THE RESPONSIBLE COURSE IS MASSIVE SPENDING CUTS...:

Next on the Agenda for Washington: Fight Over Debt (JACKIE CALMES, 4/10/11, NY Times)

The down-to-the-wire partisan struggle over cuts to this year’s federal budget has intensified concern in Washington, on Wall Street and among economists about the more consequential clash coming over increasing the government’s borrowing limit.

Congressional Republicans are vowing that before they will agree to raise the current $14.25 trillion federal debt ceiling — a step that will become necessary in as little as five weeks — President Obama and Senate Democrats will have to agree to far deeper spending cuts for next year and beyond than those contained in the six-month budget deal agreed to late Friday night that cut $38 billion and averted a government shutdown.

Republicans have also signaled that they will again demand fundamental changes in policy on health care, the environment, abortion rights and more, as the price of their support for raising the debt ceiling.


Posted by at April 9, 2011 6:08 PM
  

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