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January 08, 2013

Boehner Blinks in Debt Ceiling Fight

Greg Sargent notes that House Speaker John Boehner essentially admitted that the GOP's threat not to raise the nation's debt ceiling in budget negotiations with President Obama is an empty one.

"Boehner does this by threatening to only agree to 'monthly' debt ceiling hikes. But this should be read, if anything, as a sign of weakness. It's essentially a concession that the debt limit has to be raised; Boehner is merely threatening to drag his feet as he allows the inevitable to happen. But it's just nonsense. The business community is not going to go for such a course of action, to put it mildly. And it risks dragging the country through monthly threats of default, a terrible thing to inflict on the American people."

"Ultimately, what this highlights is the utter incoherence of the GOP position on the debt ceiling. Republican leaders know they have to raise the debt limit -- they know the threat not to do this isn't credible, and they need to signal to the business community that they don't view this option seriously -- yet they want to continue to use it as leverage to get what they want, anyway."


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