Political Quote of the Day

DId you see this? Get ready for this fight!
While President Obama’s economic advisor Austin Goolsbee argued Sunday that a refusal by the Senate to increase the government’s Debt ceiling (currently $14.3 Trillion) would be “catastrophic” and a sign of “insanity,” that’s not the position the president has held in the past. The fact that we are here today to debate raising America’s Debt Limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. ...

Republicans Push Obama, Dems on Spending Cuts
Republicans became the majority party in the U.S. House of Representatives on Wednesday, and they said they're ready to do what voters screamed for on Election Day -- and that's to stop the spending. This effort may lead to some brutal battles between President Barack Obama, Democrats on Capitol Hill and the newly-empowered Republicans. Politicians always make promises to cut spending, but the new Republican majority, backed by Tea Party power, may have the fervor and numbers to really do it....

U.S. National Debt Tops $14 Trillion Dollars
Yesterday, the U.S. Nation Debt clock rolled over and topped the $14 Trillion dollar mark! A great way to start the new year as the 112th Congress prepares to be sworn in today and face many serious economic decisions. Not the least of which is further increasing the Debt Ceiling which currently stands at $14.3 Trillion dollars. While some analysts believe the nation’s ‘Credit Card’ will cover the country’s Deficit spending until April, others, including myself, warn tha...

Boehner: The Peoples House
Republican John Boehner (pronounced bay-nor) will take the House gavel from Democrat Nancy Pelosi on Wednesday in Washington, D.C. - becoming the 61st Speaker of the U.S. House of Representatives. Ironically, it was Boehner who handed the gavel to Pelosi four years (and four Trillion dollars in Deficit spending) ago. So … how much more Deficit spending will Boehner’s party add to the pile? You know … beyond the fiscal excesses that future generations of Taxpayers have bee...

Republicans Vow to Cut Spending
(FOXNews.com) - As a new and politically divided Congress prepares to convene Wednesday, the newly muscular Republicans and the White House seem to be on a collision course over whether to raise the federal Debt ceiling. Some Republican lawmakers have vowed not to vote to raise the Debt Limit unless there is a plan in place for dealing with long-term obligations, including Social Security, and for returning to 2008 spending levels. But the White House says that refusing to raise the limit would ...

Dont raise the debt ceiling
Daniel Foster at NRO Corner thinks Republicans will get a great bargain in exchange for raising the ceiling on the National Debt — which just hit $14 Trillion. That’s the on-the-books figure, by the way. From Daniel Foster: “Unlikely as it may seem at the moment, I’m becoming more and more convinced that congressional Republicans can get a lot — in terms of Spending Cuts, entitlement reforms, and the like — in exchange for agreeing to raise the federal Debt ceiling at s

As A Senator President Obama Voted Against Raising the Debt Ceiling, Called it Leadership Failure
My, oh my, how things change. In 2006 President Obama, who at the time was a First Term US Senator with ambitions, voted against raising the Debt ceiling. He said: “The fact that we are here today to debate raising America’s Debt Limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … I...

Battle Brewing Over Federal Debt Limit
As a new and politically divided Congress prepares to convene Wednesday, the newly muscular Republicans and the White House seem to be on a collision course over whether to raise the federal Debt ceiling....

Crooked Democrat Charlie Rangel Angry Tea Baggers Who Oppose Raising Debt Ceiling
“I think if what you say is true, then the Republicans forgot who won the majority,” Rangel said. “They don’t negotiate with us as to who the heck votes for increasing the Debt ceiling. They have to provide the leadership in doing it. So maybe they’ll have a problem with the tea baggers who don’t believe in having a Debt ceiling at all. But, this will be interesting. So, they have to come to us for support.” The “tea bagger” label generally h...

Who Said Raising Debt Limit in 2006 Was A Sign of Leadership Failure?
Andrew McCarthy found a very convincing argument Republicans can use in the upcoming debate over whether to increase the Debt ceiling to well over $14 Trillion. I would like it very much if a smart conservative Senator stood up and read this, from the 2006 push to raise the Debt ceiling to what today seems like a paltry $9 trillion: The fact that we are here today to debate raising America’s Debt Limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay i...

WASHINGTON EXAMINER: Using The Debt Ceiling To Send A Powerful Message. Austan Goolsbee, Obamas
Washington Examiner: Using The Debt Ceiling To Send A Powerful Message. Austan Goolsbee, Obama’s chairman of the White House Council of Economic Advisers, expounds in horror that not raising the National Debt ceiling yet again would be “insanity.” Goolsbee should consult a floor Speech delivered not so long ago by a certain member of Congress who offered this counterargument to automatic debt ceiling increases: “The fact that we are here today to debate raising America&...

Tea Party Activists Take Hard Line On GOP Agenda
Republicans preparing to take control of the U.S. House when the 112th Congress convenes Wednesday have been scrambling in recent days to salute the Tea Party Activists who helped drive Democrats from power last November. They've ordered a reading of the Constitution on opening day and required that all new Legislation cite a constitutional provision permitting the proposed action. They've pledged to cut 2.6 percent of the House operations Budget and teed up a largely symbolic vote on repealing ...

New Congress and the Spending Thicket
The 112th Congress, convening today, promises to be one of the most politically charged sessions in recent memory--and one in which Government Spending will dominate the agenda. Barring a sudden crisis, Foreign Policy will be an afterthought amid an intensifying debate over the Debt and the Deficit. Both parties have taken one potentially explosive National Security issue--cuts in defense spending--off the table. Obama is unlikely to demand a vote on any Controversial treaties after his bruisi...

Note to Congress: Don't blow it
FORTUNE -- Dear 112th Congress: Congratulations and so forth, but we don't have time for pleasantries. I'm afraid I have bad news. Do you recall all those charts you've seen showing Medicare costs, Social Security costs, federal interest payments, and the National Debt rising steadily for years and then suddenly taking off like a fighter jet? (If not, you can see them in the Treasury's latest Financial Report of the U.S. Government.) Well, the jet's barreling down the runway. Things have been g...

The "Wouldn't it Be Nice" Theory of Government
By Proof Remember the Beach Boys? Remember the song, "Wouldn't it Be Nice"? The "Wouldn't it be Nice" Syndrome that affects local, state and federal legislatures is at epidemic levels. They have their legal and chartered and Constitutional duties set forth, and then one of them says, "Wouldn't it be a good thing if we just..." And according to the ruling class, all the things they propose are "good things", even if we have to go into Debt to pay for them, (which is generally a bad thing). And...

European Bond Spreads Leak Wider Following Portuguese Bill Auction
: The German Federal Government topped up its 2.50%-coupon, January 2021 Bund by E3.916 billion at a minimum price of 96.79 the Bundesbank announced Wednesday. The average yield on the top-up of the 10-year Bund was 2.87%, up from 2.59% at the bond's initial auction November 24. The weighted average price came to 96.81, and the government accepted 100% of bids at the minimum price. There were a total of E6.290 billion in bids for today's sale, resulting in a bid/cover ratio (excluding Bundesbank...

Obama Flip-Flopping on National Debt
He’s all things to all people and is ‘for’ and ‘against’ every major issue.  That would be the 44th President of the United States, Barack H. Obama.   While President Obama’s economic advisor Austin Goolsbee argued Sunday that a refusal by the Senate to increase the government’s Debt ceiling (currently $14.3 Trillion) would be “catastrophic” and a sign of “insanity,” that’s not the position the president has held i...

Then and now: Barack Obama on raising the debt ceiling
  There is a looming battle on the horizon as the new Congress is set to convene tomorrow and that battle is going to be over the Budget. One of the most contentious issues which will be debated is the possibility of raising the Debt ceiling. Some Republicans feel that if they do not agree to raise the Debt ceiling it will force the Obama regime to begin to cut spending. This issue will not only pit Congressional Republicans against the president and Congressional R...

The coming debt ceiling showdown (Part One)
Once the Republican Congress is officially sworn in, they will be faced with an immediate dilemma that will be a true test as to how they will govern. There will be a vote to raise the $14.3 Trillion National Debt ceiling in the coming months and time is already short. The National Debt officially hit $14 Trillion last weekend and may reach the $14.3 Trillion mark by March.   Refusing to raise the Debt Limit would either force the Federal Government to stop spending or create a default.
...

Early Morning Swim: Republicans Playing Chicken with Debt Ceiling, Reports Chris Hayes on MSNBC
Batshit. Tea Party champion Sen. Jim DeMint says he’s ready for a “showdown” with President Obama over raising the government Debt ceiling. DeMint’s threat is setting up a high-stakes game of chicken on Capitol Hill with Republicans demanding stark Spending Cuts before they consider raising the Debt Limit and Democrats warning that a failure to do so would trash the country’s Credit Rating and risk a government shutdown. “This needs to be a big showdown,R...

Sen. Tom Coburn: Lessons from 1994 and why it's D-Day on the national debt
Sixteen years ago I was among a class of 73 freshmen Republicans who came to Washington for reasons very similar to why 87 freshmen Republicans were just elected. The country was alarmed by Washington’s attempts to take over our Health Care system and disgusted with Congress’ spending and self-indulgence. It’s well-known that the 1994 Republican Revolution sputtered and failed to turn the country around. The failure of that revolution though was not so much a matter of failed ...

GOP freshmen step onto the tightrope
Recess is over, and now the incoming Republican class of the 112th Congress must pivot from talking tough to making tough choices. Among their first decisions: How will they work with a Republican leadership team that is steeped in the ways of Washington? Continue Reading Text Size - + reset Politico 44 “I don’t have a problem with disagreeing and voicing that with a leader if I truly disagree,” Rep.-elect Steve Southerland (R-Fla.) said in an interview with POLITICO. &ldquo...;

Tea party hopes to put spine in GOP lawmakers
WASHINGTON — The Grassroots Tea Party movement is eager to pressure lawmakers in the new 112th Congress to adopt its conservative views, but the Democratic-controlled Senate is poised to stop them. The Tea Party movement animated November's Elections and helped give Republicans their biggest majority in the House of Representatives since the first Truman administration in the late 1940s. About 50 Republicans were elected to the House with the backing of Tea Party groups. Still, they ...

Quote of the DayNancy Pelosis final lie edition
Seriously, this is just a shameless lie.  Nancy Pelosi at her final news conference as Speaker of the House summing up the House’s priorities under he leadership: "Deficit reduction has been a high priority for us. It is our mantra, pay-as-you-go." No. It hasn’t. When the Pelosi Democrats took control of Congress on January 4, 2007, the National Debt stood at $8,670,596,242,973.04. The last day of the 111th Congress and Pelosi’s Speakership on December 22, 2010 the n...

Nancy Pelosis biggest lie yet
The former Speaker of the House speaks lies, Speaker Pelosi Leaves With a Whopper At her final Press Conference as House Speaker, Nancy Pelosi (D-CA) said, “Deficit reduction has been a high priority for us. It is our mantra, pay-as-you-go.” The numbers tell a different story. When the Pelosi Democrats took control of Congress on January 4, 2007, the National Debt stood at $8,670,596,242,973.04. The last day of the 111th Congress and Pelosi’s Speakership on December 22, 2010 ...