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Obama plans to talk to GOP again on shutdown, debt



Published: Wed, October 9, 2013 @ 10:39 a.m.

Obama plans to talk to GOP again on shutdown, debt

WASHINGTON (AP) - President Barack Obama is making plans to talk with Republican lawmakers at the White House in the coming days as pressure builds on both sides to resolve their deadlock over the federal debt limit and the partial government shutdown. With the shutdown in its ninth day today and a potential economy-shaking federal default edging ever closer, neither side was revealing clear signs of bending.


Comments

1redeye1(4621 comments)posted 1 year, 1 month ago

Probably just another name calling session by the liar in the White House. He said last night he will not negotiate until after the shutdown is done. That's just his way of saying my way , or no way. Hang tough GOP , don't give him to his Bulling tactics. He negotiates now, not after the shutdown is done.

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2DwightK(1287 comments)posted 1 year, 1 month ago

No death benefits for soldiers families but the Senate gym is open.

I'm starting to think these guys aren't worth $174,000 a year.

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376Ytown(1262 comments)posted 1 year, 1 month ago

I hope and pray that not just in the last 9 days of this partial shutdown, but on any day that we would not lose any of our soldiers, but according to my search we have lost 26 Americans.

Senate gym is open, yet military priests told they would be arrested for practicing mass during the shutdown. http://www.catholicvote.org/military-...

The American people do not want to increase our nations debt. We need to cut back on our spending and eliminate waste so that we do not have to raise the debt ceiling. What happened to all the quotes from Obama before election . Interest on our debt is strangling us and we need to consider that our loans are short term. When they come up for renewal and the rate of interest increases we are going to pay much more for the same loan.

The arrogance of the president to say that he will not negotiate. The House of Representatives speaks for the people. He needs to sit down and talk.

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476Ytown(1262 comments)posted 1 year, 1 month ago

2006 debt ceiling talks...$8.6 trillion vs today $16.969 trillion

http://www.usdebtclock.org/index.html

Obama in In 2006, while serving his first term as a freshman U.S. senator from Illinois, Barack Obama made the remarks attributed to him above during discussion in the U.S. Senate prior to the call for votes on raising the debt limit.

The full text of his remarks in the Senate on 16 March 2006 are:
Mr. President, I rise today to talk about America's debt problem.

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.

Over the past 5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion. That is "trillion" with a "T." That is money that we have borrowed from the Social Security trust fund, borrowed from China and Japan, borrowed from American taxpayers. And over the next 5 years, between now and 2011, the President's budget will increase the debt by almost another $3.5 trillion.

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576Ytown(1262 comments)posted 1 year, 1 month ago

Numbers that large are sometimes hard to understand. Some people may wonder why they matter. Here is why: This year, the Federal Government will spend $220 billion on interest. That is more money to pay interest on our national debt than we'll spend on Medicaid and the State Children's Health Insurance Program. That is more money to pay interest on our debt this year than we will spend on education, homeland security, transportation, and veterans benefits combined. It is more money in one year than we are likely to spend to rebuild the devastated gulf coast in a way that honors the best of America.

And the cost of our debt is one of the fastest growing expenses in the Federal budget. This rising debt is a hidden domestic enemy, robbing our cities and States of critical investments in infrastructure like
bridges, ports, and levees; robbing our families and our children of critical investments in education and health care reform; robbing our seniors of the retirement and health security they have counted on. Every dollar we pay in interest is a dollar that is not going to investment in America's priorities. Instead, interest payments are a significant tax on all Americans — a debt tax that Washington doesn't want to talk about. If Washington were serious about honest tax relief in this country, we would see an effort to reduce our national debt by returning to responsible fiscal policies.

But we are not doing that. Despite repeated efforts by Senators Conrad and Feingold, the Senate continues to reject a return to the commonsense Pay-go rules that used to apply. Previously, Pay-go rules applied both to increases in mandatory spending and to tax cuts. The Senate had to abide by the commonsense budgeting principle of balancing expenses and revenues. Unfortunately, the principle was abandoned, and now the demands of budget discipline apply only to spending. As a result, tax breaks have not been paid for by reductions in Federal spending, and thus the only way to pay for them has been to increase our deficit to historically high levels and borrow more and more money. Now we have to pay for those tax breaks plus the cost of borrowing for them. Instead of reducing the deficit, as some people claimed, the fiscal policies of this administration and its allies in Congress will add more than $600 million in debt for each of the next 5 years. That is why I will once again cosponsor the Pay-go amendment and continue to hope that my colleagues will return to a smart rule that has worked in the past and can work again.

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676Ytown(1262 comments)posted 1 year, 1 month ago

Our debt also matters internationally. My friend, the ranking member of the Senate Budget Committee, likes to remind us that it took 42 Presidents 224 years to run up only $1 trillion of foreign-held debt. This administration did more than that in just 5 years. Now, there is nothing wrong with borrowing from foreign countries. But we must remember that the more we depend on foreign nations to lend us money, the more our economic security is tied to the whims of foreign leaders whose interests might not be aligned with ours.

Increasing America's debt weakens us domestically and internationally. Leadership means that "the buck stops here.'' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.

I therefore intend to oppose the effort to increase America's debt limit.

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776Ytown(1262 comments)posted 1 year, 1 month ago

#4, 5 & 6 above are all part of then Senator Obama's 2006 speech separately because of vindy's size limits.

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876Ytown(1262 comments)posted 1 year, 1 month ago

Also, the last time we raised the debt ceiling (2011) our credit rating was downgraded for the first time in history.

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