Lindseypoo Through the Looking-Glass

From the National Journal:

A top Senate Republican signaled on Sunday that GOP lawmakers are ready to engage in brinkmanship over the federal government’s debt ceiling, threatening to let the Treasury default on its obligations if Democrats don’t agree to drastic cuts in spending.

…snip…

[Sen. Lindsey Graham, R-S.C.], who often positions himself as a bridge builder between Republicans and Democrats, laid out demands on Sunday that were much closer to the tea party wing of the new Congress.

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The federal government’s current debt ceiling, the maximum amount it is legally allowed to borrow, is $14.3 trillion. The government’s debt is now about $13.9 trillion, and it is expected to bump up against the ceiling sometime this spring.

If Congress refuses to approve a higher ceiling, the Treasury would almost immediately start defaulting on its obligations — an event that most analysts say would have calamitous effects for the United States and for global financial markets that view Treasury securities as the ultimate safe haven for investors. The move would likely force a government shutdown, or force it to immediately slash spending across the board on everything from defense to Social Security. Beyond that, the move would almost certainly set off a panic among global investors that would send markets crashing and interest rates soaring.

…snip…

Theatrical showdowns over the debt ceiling have become a regular event over the past decade, and Democrats frequently used such occasions when they were in the minority in Congress to embarrass Republicans and the Bush administration. But in the end, lawmakers always approved increases and financial markets have always assumed that the alternatives were too apocalyptic to be politically plausible.

But that may not be the case this year. Many Republicans associated with the tea party movement, including Sen. Jim DeMint of South Carolina and Rep. Michele Bachmann of Minnesota, have argued for months that Congress should not increase the debt ceiling without immediate and steep spending cuts.

…snip…

On Sunday, Bachmann made it clear that she wanted to use the debt ceiling as a bargaining tool against Democrats.

“At this point, I am not in favor of raising the debt ceiling,” she said on CBS’s Face The Nation. “The Congress has had a big party the last two years. They couldn’t spend enough money. And now they’re standing back, folding their arms, saying, oh — taunting us, ‘How are you going to go ahead and solve this big spending crisis?’”

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21 Comments

Filed under Chimpy, Congress, Democrats, George W. Bush, humor, Lindsey Graham, movies, parody, politics, Republicans, Senate, snark, South Carolina, Wordpress Political Blogs

21 responses to “Lindseypoo Through the Looking-Glass

  1. 😆 Lindsey. 😆

    Why do they let Michele talk?

  2. jean-philippe

    The idea that Michelle Bachmann has bigger responsibilities than measuring the soap for her laundry is very scary.

  3. The politicians play this game every time and end up raising the ceiling in order to keep up with spending. Then they forget about it instead of cutting spending so they end up hitting the new debt ceiling later. Rinse and repeat.

    • hello nick,

      welcome to the raisin! 😀

      you’re correct that they all play this game, but this time it will be a bit more interesting, because the more traditional rethuglicans will have to deal with those in the tea party caucus. will the ones who are up for reelection soon in red states kowtow to the teabaggers?

  4. kaylaspop

    The first drastic cuts should be congressional salaries & health care benefits. Throw in their pensions & make them work at least 40 hrs per week. Nah, it’d never work (not that they do any work now).

    • hey kp! happy new year! 😀

      i’d cut their staffs, health care benefits, and their expense accounts. no free haircuts, and they have to pay if they want to use the gym. then, let’s cut farm subsidies, if only to watch batshit bachmann’s head explode.

  5. I keep wondering at what point does the endless & magical credit card get shut down?

    This whole budget is delusional & fictional anyway– sure they could bump the debt limit, but it will just prolong the time in which it all unravels anyway.
    The bitch of it is they will first go to Soc Sec, Medicare, education & any program people have paid into first for the drastic cuts….
    War & military budgets will be unscathed.

    Bridges to nowhere will be fully funded.

    • it’s the sideshow that will be most interesting. the rethugs will have to take responsibility for what the house does, so they’ll have a tricky balancing act, trying to please the teabaggers and not pissing off everyone else. i don’t think they can do it.

  6. Like the picture of the Bachpuss. Must enlarge a print to hang in the cat house. Anyone else noticed were back to the Luntz inspired “what about the grandchildren” crap that serves their argument so well. What?!?, 50 years from now the idle children of old money won’t be rich? How will they purchase their cocaine and heroin now! Not being a goper, my worry would be the neverending war with southeast asia, since we have always been at war with southeast asia. Who needs Newspeak when we have Newscorp. Was Emanuel Goldstein right after all? But good news Nonnie, the official quota for next months chocolate ration has been raised to 25 grams!! I’ve never been so happy.

    • i wish they’d make up their minds. do we worry about the kids and grandkids, or do we get ready for the rapture? they can’t have it both ways. but, hell, if there’s chocolate, who gives a damn about the rest?

  7. Snoring Dog Studio

    “Congress has had a big party for the last two years?” What? Did Bachmann sprout fully formed from a test tube this year? Republicans are showing time and time again that there method of governing is through threats, bullying, whining, and obstruction. Kind of like a cranky two-year old. And yet, they refuse to deal rationally with earmarks and other subsidies that need to go away. In the end, they’ll punish children, the elderly, the most vulnerable and the middle class. Those thugs just aren’t human.

  8. Al

    Hi Nonnie’!
    Happy New Year!
    Sounds like some Republicans may already be making the mistake of posturing to the wave of Tea Party sentiments popular at the moment. Hopefully, they proceed w/caution lest the public perception becomes Republicans and Tea Party candidates are so full of themselves they forgot while they’re in Congress in the first place–to represent the best interests of the American people instead of conducting modern day witch hunts.

    Have a great week, Nonnie.

    • happy new year, al! 😀

      i don’t know if the present leadership knows the meaning of the word caution. they’re so terrified of getting primaried by the teabaggers that they can’t think straight. the best interests of the american people don’t really enter into their thoughts. however, you can believe the best interests of corporations are foremost in their minds.

  9. afrankangle

    Is that Bachmann on the wall? Missed it on the first pass, but it was the topping on the cake. Bachmann is on the “I don’t listen to” list … 🙂 … but I think conservative columnist George Will said volumes here … http://thinkprogress.org/2011/01/02/george-will-debt-ceiling/

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