All 53 Senate Democrats Sign Letter to Boehner Threatening to Default on US Debt

[dandi]

All 53 Senate Democrats Sign Letter to Boehner Threatening to Default on US Debt
Posted by Jim Hoft on Wednesday, July 27, 2011, 10:54 PM

All 53 Senate Democrats signed a letter tonight to House Speaker John Boehner saying essentially that they would rather the US default on its debt than pass the House GOP plan that would cut spending and force another vote next year.

Democrats would rather default on the debt they racked up than pass the Boehner plan.

Fifty-three Democratic senators have signed a letter to House Speaker John A. Boehner saying they intend to vote against his plan for an increase in the debt ceiling, virtually assuring its defeat in the Senate even as the speaker lines up Republican votes to pass it in the House on Thursday.

Votes are not final until they are cast. But if the Democrats hold to their promise in the letter, Mr. Boehner’s plan for a six-month increase in borrowing authority will not make it to President Obama’s desk.

“We heard that in your caucus you said the Senate will support your bill,” the senators say in the letter. “We are writing to tell you that we will not support it, and give you the reasons why.”

In the letter, the senators argue that a short-term extension of the debt ceiling would “put America at risk” and “could be nearly as disastrous as a default.”

http://www.thegatewaypundit.com/2011/07/all-53-senate-democrats-sign-letter-to-boehner-threatening-to-default-on-us-debt/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+gatewaypundit2+%28Gateway+Pundit%29&utm_content=FaceBook


Well, guys, what do you do with a poker player going all in on a Jack high thinking that he's got a straight flush?  Do you swing the hammer or do you twist them in the wind for a while? 

[Eupher]

Well, that tells me that the Senate Dems are not just willing to see the default thing occur (though it actually would not), but they'd also take the repercussions for the downgrade (much more likely, even with no default).

Correct me if I'm wrong, but this is the kind of thing that elections are made of.

[Attero Dominatus]

Well, that tells me that the Senate Dems are not just willing to see the default thing occur (though it actually would not), but they'd also take the repercussions for the downgrade (much more likely, even with no default).

Correct me if I'm wrong, but this is the kind of thing that elections are made of.

Yes I agree. Never interrupt an enemy while he is making a mistake.

[dandi]

Well, that tells me that the Senate Dems are not just willing to see the default thing occur (though it actually would not), but they'd also take the repercussions for the downgrade (much more likely, even with no default).

Correct me if I'm wrong, but this is the kind of thing that elections are made of.

Oh, you're right, they are.  If the GOP doesn't manage to **** it up, we may well see the end of democrat rule for a very long time.

[Doc]

Well, that tells me that the Senate Dems are not just willing to see the default thing occur (though it actually would not), but they'd also take the repercussions for the downgrade (much more likely, even with no default).

Correct me if I'm wrong, but this is the kind of thing that elections are made of.

Err....you're making the assumption that we have an unbiased media that will place the blame squarely where it belongs........

Ask Newt Gingrich how that worked out in '95........."those who forget the lessons of history............"

doc

[Rebel]

Err....you're making the assumption that we have an unbiased media that will place the blame squarely where it belongs........

Ask Newt Gingrich how that worked out in '95.........

doc

If there are enough stupid people that believe the Republicans were at fault, and reward Obama with a second term, stick a fork in us; we're done.

[DumbAss Tanker]

Where are those damned regionally-destructive asteroid strikes when you need them?

[dandi]

Err....you're making the assumption that we have an unbiased media that will place the blame squarely where it belongs........

Ask Newt Gingrich how that worked out in '95........."those who forget the lessons of history............"

doc

Totally different dynamic now, Doc.

[TVDOC]

If there are enough stupid people that believe the Republicans were at fault, and reward Obama with a second term, stick a fork in us; we're done.

Well....that's exactly where I see this heading, if the TEA party caucus forces a partial government shutdown.   The media is going to brand them "extremists" in 32-point headlines.

It will scare off the independents, and those who aren't paying attention, and the Republicans are going to get the blame for it.   Not smart politics.

If there were not that many stupid people, Obama would still be a senator from Illinois........

doc

[Rebel]

Well....that's exactly where I see this heading, if the TEA party caucus forces a partial government shutdown.   The media is going to brand them "extremists" in 32-point headlines.

It will scare off the independents, and those who aren't paying attention, and the Republicans are going to get the blame for it.   Not smart politics.

If there were not that many stupid people, Obama would still be a senator from Illinois........

doc

It's possible that it could work out exactly how you laid it out. I don't want to say probable, but I'm hoping, PRAYING, that people have become more informed since this moron was elected.

[FreeBorn]

Poseurs. This whole drama (and that's all it is) is going to land butter side down and nobody in Washington wants his name and face labeled as the one who dropped it. In the end Geithner & Co. is going to do whatever they had planned all along anyway.

[TVDOC]

Totally different dynamic now, Doc.

You'll find me hard to convince of that......

doc

[dandi]

Well....that's exactly where I see this heading, if the TEA party caucus forces a partial government shutdown.   The media is going to brand them "extremists" in 32-point headlines.

It will scare off the independents, and those who aren't paying attention, and the Republicans are going to get the blame for it.   Not smart politics.

Where are they going to run to, Doc?  I keep hearing this over and over but nobody has been able to explain to me where it is, exactly, the "independents" are going to go.  Back to obama and the dems?  Why should they, they've already abandoned obama in droves.

[dandi]

You'll find me hard to convince of that......

doc

Gingrich is no longer in the House, obama is no clinton, the media no longer has a stranglehold on information.  If they did, the 2010 elections would not have gone the way they did.

[TVDOC]

It's possible that it could work out exactly how you laid it out. I don't want to say probable, but I'm hoping, PRAYING, that people have become more informed since this moron was elected.

What we're seeing is "theatre", and really nothing more.  Another crisis manufactured by Obama to get what he wants.  "Too Big to Fail" all over again........

The way to play it is to buy time, and strategically place the issue in the middle of the campaign season.  There are MANY more important issues that we need to focus on (like the repeal of ObamaCare) than passing a debt ceiling increase to pay for spending that has already happened.

Get the best deal you can get on immediate (not ten years out) spending cuts, and bide our time until we have more control over the issue.  We simply need more votes, and someone that will actually make the hard decisions regarding cutting spending in the WH.

doc

[Right_Is_Right]

Totally different dynamic now, Doc.

Totally agree. There is a LOT more information out there now compared to 16 years ago. While I never underestimate the ignorance of the overall population the impact of the job market is bound to hit home for a lot of the hopey-changey types.

[TVDOC]

Where are they going to run to, Doc?  I keep hearing this over and over but nobody has been able to explain to me where it is, exactly, the "independents" are going to go.  Back to obama and the dems?  Why should they, they've already abandoned obama in droves.

Respectfully, don't make the mistake that being an "independent" is a political ideology......it isn't.

Being an "independent" means that I don't give a crap about politics, unless something/someone scares me.  "Extremists" scare them, even if the label is misapplied, or totally wrong......they don't care......they aren't paying attention anyway.

And yes, they will certainly go back and give Obama a second term, because they are frightened that to change horses will disrupt their next vacation to the Bahamas, which is all they really care about anyway.

doc

[TVDOC]

Totally agree. There is a LOT more information out there now compared to 16 years ago. While I never underestimate the ignorance of the overall population the impact of the job market is bound to hit home for a lot of the hopey-changey types.

The fact that the information is out there doesn't mean that more folks are paying any attention to it.

The information has always been out there......it's just easier to access.  That doesn't mean that any more voters are actually looking for it (except for hard-core political junkies like us).

While I agree that latent issues like the unemployment rate, and the cost of fuel are going to have a significant impact on the next election, don't discount the fact that the vast majority of the electorate still get their political information from the MSM........who are not our friends, and they have (and are) downplaying these factors..

doc

[unbiased]

I hope it does default. I don't even care who they blame it on as long as it opens people's eyes. They think this stuff is a game because no matter what happens, they will still recieve their checks. They will not get their houses taken away. And heck, we (myself included) are all dumb enough to vote them back in office, so they won't even lose their job.

This isn't what our founding father's had in mind.

[Wineslob]

Yes I agree. Never interrupt an enemy while he is making a mistake.

And are they doing a bang-up job or what?

[TVDOC]

I hope it does default. I don't even care who they blame it on as long as it opens people's eyes. They think this stuff is a game because no matter what happens, they will still receive their checks. They will not get their houses taken away. And heck, we (myself included) are all dumb enough to vote them back in office, so they won't even lose their job.

This isn't what our founding father's had in mind.

Actually "default" is a manufactured crisis term.  In actuality if the debt ceiling isn't raised, the Obama administration will be FORCED to prioritize spending.  If they "default" on T- bills (which won't happen), that will send the interest rates spiraling up to the extent necessary to intice someone to buy them, making debt service an even larger problem.

The likelier scenario is that 40% of the government agency budgets will disappear, with corresponding layoffs.  T -bills will get paid, SS checks will go out, Medicare payments will continue......but a lot of government drones will be out of work for a while.  Which, IMO is a good thing.

OTOH, the credit rating is going to be downgraded anyway, so interest rates are going to rise (finally!.....they've been kept artificially at nearly zero for over three years)........which will take another big chunk out of the incoming revenue, placing downward pressure again on spending.

Just from my personal point of view, I don't see a downside.........forced fiscal constraint........and investors will again have instruments to invest in which gives them a return.  The market would take a short-term hit, but it would recover, once investors see that runaway government spending has been capped.  New and onerous regulation would not be implementable because there wouldn't be anyone in the bureaucracy to implement them.......such a deal!

doc

[5412]

All 53 Senate Democrats Sign Letter to Boehner Threatening to Default on US Debt
Posted by Jim Hoft on Wednesday, July 27, 2011, 10:54 PM

All 53 Senate Democrats signed a letter tonight to House Speaker John Boehner saying essentially that they would rather the US default on its debt than pass the House GOP plan that would cut spending and force another vote next year.

Democrats would rather default on the debt they racked up than pass the Boehner plan.

Fifty-three Democratic senators have signed a letter to House Speaker John A. Boehner saying they intend to vote against his plan for an increase in the debt ceiling, virtually assuring its defeat in the Senate even as the speaker lines up Republican votes to pass it in the House on Thursday.

Votes are not final until they are cast. But if the Democrats hold to their promise in the letter, Mr. Boehner’s plan for a six-month increase in borrowing authority will not make it to President Obama’s desk.

“We heard that in your caucus you said the Senate will support your bill,” the senators say in the letter. “We are writing to tell you that we will not support it, and give you the reasons why.”

In the letter, the senators argue that a short-term extension of the debt ceiling would “put America at risk” and “could be nearly as disastrous as a default.”

http://www.thegatewaypundit.com/2011/07/all-53-senate-democrats-sign-letter-to-boehner-threatening-to-default-on-us-debt/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+gatewaypundit2+%28Gateway+Pundit%29&utm_content=FaceBook


Well, guys, what do you do with a poker player going all in on a Jack high thinking that he's got a straight flush?  Do you swing the hammer or do you twist them in the wind for a while? 

Hi,

Ignorance is such a beautiful thing when it is your opponent.  God, please, please come to an impasse.

regards,
5412

[unbiased]

Actually "default" is a manufactured crisis term.  In actuality if the debt ceiling isn't raised, the Obama administration will be FORCED to prioritize spending.  If they "default" on T- bills (which won't happen), that will send the interest rates spiraling up to the extent necessary to intice someone to buy them, making debt service an even larger problem.

The likelier scenario is that 40% of the government agency budgets will disappear, with corresponding layoffs.  T -bills will get paid, SS checks will go out, Medicare payments will continue......but a lot of government drones will be out of work for a while.  Which, IMO is a good thing.

OTOH, the credit rating is going to be downgraded anyway, so interest rates are going to rise (finally!.....they've been kept artificially at nearly zero for over three years)........which will take another big chunk out of the incoming revenue, placing downward pressure again on spending.

Just from my personal point of view, I don't see a downside.........forced fiscal constraint........and investors will again have instruments to invest in which gives them a return.  The market would take a short-term hit, but it would recover, once investors see that runaway government spending has been capped.  New and onerous regulation would not be implementable because there wouldn't be anyone in the bureaucracy to implement them.......such a deal!

doc

Agreed