Monday, May 9, 2011

Cuts for debt-ceiling increase

Let's go to the big battle - Speaker John Boehner links the raise in the debt-ceiling to the same amount of budget cuts.
Hey, Obama, you want to buy a debt ceiling increase of, say, $2 trillion that would take you past the next election? Fine, the going price is two trillion dollars in real spending cuts. Cannot afford that and hold your spending coaliton in place? Fine, you can buy a month of debt-ceiling relief, worth about $125 billion, for the reduced price of $125 billion in spending cuts. The price of the debt-ceiling hike is the the same amount — or more — of real spending cuts.
Let's see how President Obama deals with this situation.

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