Obama Offers Ultimatum on Debt Ceiling
Posted at 11:45 a.m. on Dec. 12, 2012
After two years of protracted battle between the White House and House Republicans over the debt ceiling, Ezra Klein reports that President Obama is preparing to end the fight once and for all.
“They’re happy to raise the debt ceiling on their own, as would be the case under their proposal to take authority for the debt ceiling away from Congress… If Republicans go over the cliff and try to open up talks for raising the debt ceiling, the White House will not hold a meeting, they will not return a phone call, they will not look at the e-mails.”
Tim Duy explains why this is good policy: “that Congress should be able to pass laws authorizing spending but not authorizing the required debt is beyond ridiculous. Also ridiculous – and irresponsible – is the willingness of the Republicans to use the debt ceiling to hold the economy hostage. Ending this travesty should be a priority for the White House.”