Republicans are gearing up to hold our economy hostage yet again. The last fight over the debt limit cost our economy $18 billion dollars, and despite that, the GOP is ready to do it all over again to try and force President Obama to accept even more extreme austerity measures. Last week, House Speaker John Boehner said, “we're not going to raise the debt ceiling without real cuts in spending. It's as simple as that.”
However, over the weekend, Treasury Secretary Jack Lew warned against another manufactured emergency, telling CNN, “We've already done a lot of deficit reduction,” and, “we need to get the debt limit extended in a way that doesn't create a crisis.” He explained that we must start investing in our nation to “build our way to a better future,” and said, “the President has made crystal clear, he's not going to negotiate over the debt limit.”
Lawmakers must reach an agreement by early November to prevent the government from defaulting on its debts, and both sides are preparing for a fight. Republicans are simply ignoring the enormous deficit reduction that has already taken place, and implying that the painful austerity measures hitting Americans weren't the “real” spending cuts that the GOP has been calling for. Americans being hit with reduced unemployment, fewer meals on wheels for seniors, and forced furlough days would certainly argue that the sequester cuts are, in fact, very real.
This is shaping up to be another GOP-manufactured crisis to force the President to give in to economic terrorists' demands. Americans are fed up with Republican economic hostage-taking. As lawmakers head home for their 5-week summer recess, it's likely that they will hear just how frustrated Americans are. It's possible Republicans in Congress will actually listen to their constituents this time around, but it's more likely that we'll be facing yetanother debt limit crisis in the coming months.
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