President Obama called the Republicans’ bluff today, when he stated clearly that he will not sign any short-term deal on the debt ceiling. When asked whether he would veto such a deal, the President replied, “I will not sign a 30-day, or 60-day, or 90-day extension.”
He then accused the Republicans of having a “my way or the highway” stance on the debt ceiling. He also gave this warning – “I don’t see a path to a deal if they don’t budge. Period!”
The President and Democratic leaders have proposed a deal to Republicans totaling $4 trillion in spending cuts over a period of 10 years, in exchange for a few hundred billion in tax revenue. Republicans however, called this a “non-starter,” because taxes would be imposed on millionaires and billionaires. Led by House Speaker John Boehner, Republicans are demanding a smaller, short-term increase in the debt ceiling of about $2 trillion.
The President did not budge, saying “this is the United States of America. And, you know, we don’t manage our affairs in three-month increments.” And referring to those Republicans who have already said they would not support raising the debt ceiling, the President said, “It’s irresponsible. They know better.”
Of course, Boehner continued his call for the middle class to bear the weight, while the rich skates through for free!
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President Barack Obama
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Mr. Speaker, Mr. Vice President, Members of ...
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Report from the The Wall Street Journal
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