Brummett:We must increase debt ceiling or disaster will occur (Part 8)

Schumer: Not raising debt ceiling could cause recession

Bob Schieffer spoke with Sen. Charles Schumer (D-NY) and Sen. Jeff Sessions (R-Ala.) on the specific agreements and cuts made in the budget deal and the debate over raising the debt ceiling.

John Brummett in his article “Dear visa, my debt ceiling is capped,” April 25, 2011, Arkansas News Bureau, he observes:

Here is how real fiscal responsibility works: You repay the debt that you have incurred to date. You make spending reductions prospectively by showing sufficient discipline to reduce the future pace at which you incur debt. You dare not let your existing debt go unpaid lest your credit score suffer and you get denied the next time you find yourself in a bit of a pinch and need to finance a refrigerator at Sears.

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The problem I have with Brummett’s comment is that he does not realize that all the tea party people want is to get $2 cut for every $1 they allow the debt ceiling to be raised until eventually the budget is balanced. I have written on this several times before and that is the principle that the Republicans are fighting for. Take a look at some of my earlier posts:

House rejects raising debt ceiling, John Brummett:We must increase debt ceiling or disaster will occur (Part 6)

New Congress Debates Raising Debt Ceiling Harry Smith spoke with Rep. Michele Bachmann (R-MN), Rep. Debbie Wasserman Schultz (D-FL), Rep. Anthony Weiner (D-NY), and Rep. elect Mike Kelly (R-PA) on how, with a shift in power, will congress set aside disagreements and work together to solve such issues as deficit reduction, job creation, and turning […]

Bill Clinton: Warned against not raising debt ceiling (Part 2)

Clinton: We Will Have Bipartisan Resolution on Budget During a fiscal summit sponsored by the Pete Peterson foundation Wednesday, Gwen Ifill talked to former President Bill Clinton about the economy, politics and foreign policy. CNN Money reported on May 25, 2011: Ryan, who spoke after Clinton at the summit, wasn’t asked directly about the New […]

Brummett:We must increase debt ceiling or disaster will occur (Part 3) (Royal Wedding Part 7)

John Brummett in his article “Pryor’s words drift in gentle breeze,” Arkansas News Bureau, April 24, 2011 asserted: Raising the debt ceiling is essential to paying our debts and keeping the national and world economy functioning. Spending cuts must be made in the future, not by reneging on debt from the past. It is disingenuous

Brummett:We must increase debt ceiling or disaster will occur (Part 4)

John Brummett in his article “Dear visa, my debt ceiling is capped,” April 25, 2011, Arkansas News Bureau, he observes: The first thing I intend to do is join the tea party. Then I’m going to refuse to raise my debt limit. Then I’m going to call the Visa people. “Y’all have me down here […]

Brummett:We must increase debt ceiling or disaster will occur (Part 2) (Royal Wedding Part 4)

John Brummett in his article “Dear visa, my debt ceiling is capped,” April 25, 2011, Arkansas News Bureau, he asserted: Nine times in the last decade the federal government has crept near its debt ceiling and Congress has voted to raise it. Tea party types say they intend this time to tie their votes to […]

Brummett:We must increase debt ceiling or disaster will occur (Part 1) (Royal Wedding Part 2)

John Brummett in his article “Dear visa, my debt ceiling is capped,” April 25, 2011, Arkansas News Bureau, he observes: The first thing I intend to do is join the tea party. Then I’m going to refuse to raise my debt limit. Then I’m going to call the Visa people. “Y’all have me down here […]

Mark Pryor will not vote for debt limit increase unless there are real spending cuts (Conspirator part 9)

In the article “Mark Pryor: I won’t vote to raise debt limit without reforms,” April 20, 2011, Arkansas Business reports: U.S. Sen. Mark Pryor says he won’t vote to raise the federal government’s borrowing limit unless there is a “real and meaningful commitment” to reducing the nation’s debt by cutting spending and overhauling the tax […]

Tim Griffin’s interview with Talk Business’s Roby Brock (Part 2)

Congressman Griffin discusses the federal debt ceiling crisis.

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