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May 16, 2012

Another Debt Ceiling Fight?

First Read: "Last summer's debt-ceiling fight ended like a typical Tarantino flick -- with casualties and blood everywhere and no real winners. President Obama's approval ratings sunk to the low 40s, from which he's somewhat recovered. Congress' number fell much more, and they remain at historic lows. Standard & Poor's lowered its credit rating for the United States. Economic activity stalled, and economic confidence tanked. And guess what: House Speaker John Boehner is now vowing for a sequel. Call it 'Kill Bill (and Everyone Else), Vol. 2.' In remarks he delivered yesterday in DC, Boehner demanded that the next debt-ceiling increase -- slated for early 2013 -- have commensurate spending cuts and no tax increases."

Said Boehner: "I will again insist on my simple principle of cuts and reforms greater than the debt limit increase. This is the only avenue I see right now to force the elected leadership of this country to solve our structural fiscal imbalance."

"On the same day that Boehner made his remarks about the debt ceiling, Romney was also talking about deficits and debt while campaigning in Iowa. (One thing is clear this week: The GOP is coordinating as well as they have in years. The entire GOP message machine has turned toward the debt issue, from Boehner to Romney to Crossroads.)"


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