Saturday, January 5, 2013

Newt Gingrich Warns GOP on Debt Limit - Politico

I agree.  President Obama has made clear that it is outrageous for Congress to approve spending and and then refuse to allow the government to raise the money it needs to pay the bills  authorized by the Congress.  I don't know why he didn't take that stance last time, but he should stick to it this time.  The concurrence of the "sequester" complicates things - but the two issues are conceptually - and legally - different.  Though Nancy Pelosi supports the 14th Amendment 'nuclear option' I agree with Obama in taking it off the table.  It is a plausible but strained argument that would shift the debate adversely to allegations that Obama is a usurper.  Better to keep the focus where it is: Congressional refusal to raise the debt limit would be to default on legal obligations of the United States. - GWC

Newt Gingrich warns GOP on debt ceiling - Kevin Robillard -
Former House Speaker Newt Gingrich said Friday that the upcoming showdown over the debt ceiling isn’t a political winner for House Republicans, but dubbed it a “dead loser.”

“They’ve got to find, in the House, a totally new strategy,” Gingrich said on MSNBC’s “Morning Joe.” “Everybody’s now talking about, ‘Oh, here comes the debt ceiling.’ I think that’s, frankly, a dead loser. Because in the end, you know, it’s gonna happen. The whole national financial system is going to come in to Washington and on television and say: ‘Oh my God, this will be a gigantic heart attack, the entire economy of the world will collapse. You guys will be held responsible.’ And they’ll cave.”

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