Once again, the debt ceiling issue arises as a conflict between Republicans and Democrats. Speaker John Boehner wants to make clear to the president that his party will not be party to any deal which results in raising the debt ceiling unless there are serious reductions in government expenditures. Finally, President Obama has decided to stand firm in refusing to be bullied. “They(Republicans) will not collect a ransom in exchange for not crashing the economy. The full faith and credit of the United States of America is not a bargaining chip. And, they had better decide quickly because time is running short.”
Republican leaders insist the real issue is rising debt and the need to reduce expenditures. Republicans used this strategy twice in the 1990s to force then President Clinton to bow to their will–he did not.
For some unknown reason, Mr. Boehner had no problem supporting raising the debt ceiling under the administrations of Ronald Reagan, George Bush, George Bush. He only gets fiscal religion when a Democrat is in office!