Sen Chuck Schumer Calls the GOP On Their Debt Ceiling Bluff

June 29, 2011
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With America’s economy held hostage by the GOP again, Sen. Chuck Schumer (D-NY) weighed in like a champ, calling their debt ceiling bluff.

 

Schumer educated the GOP on their need for Democrat votes to pass their bid to keep tax cuts protected for the wealthy while they hold the debt ceiling on the chopping block, thus putting America in crisis.

 

To prove it, he says, look no further than the House of Representatives.

“Speaker Boehner should realize we’re in a different world than we were even a few months ago,” Schumer told reporters at the Capitol Wednesday. “He needs Democrats to pass a bill through the House.”

 

Quite a few Republicans are threatening to not raise the debt ceiling at all, some saying it will be considered but only under extremely partisan circumstances. This is reminiscent of last December.

 

TPM reports:

Schumer’s math suggests that means he’ll need Democratic votes to pass a viable debt limit bill, and that means new revenues will have to be part of the equation.

“So for Speaker Boehner to say as was mentioned before that he doesn’t have the votes for [new revenues] — well, he doesn’t have the votes if he doesn’t have revenues. Because he’s not going to get Democratic votes without revenues, and he doesn’t have enough Republican votes on his own to cast it,” Schumer said.

It’s possible Boehner could pass a debt limit hike without Democratic support, if he attached key conservative wish-list items to it. But that would be a dead-on-arrival package in the Senate, and that would be a recipe for a default. Inevitably, it seems he’ll need to turn to Democrats for votes.

“That, my friends, is a major difference between this and the [six-month spending bill]. The House can’t just lob things over to us if they don’t have the ability to do so in their caucus,” Schumer said.

(My bold)

GOP leaders played chicken, albeit not too well:

“The President is sorely mistaken if he believes a bill to raise the debt ceiling and raise taxes would pass the House,” said House Speaker John Boehner in response to President Obama’s call for new revenues Wednesday. “The votes simply aren’t there – and they aren’t going to be there.”

Congress is running out of time to lift the debt ceiling — and Schumer says they may have less time than they think.

“Wall Street tells me, first that August 2 is the deadline, and second even coming the day before it or two days before it — it’s not like the [six-month spending bill],” Schumer said. “It risks real problems, because this is not totally contained within the government. If the government shuts down, that’s the government. This involves an outside player — a very mystical, magical player called the credit markets. And if the credit markets get spooked, whether it’s August 2 or July 29, there is no recuperation.”

 

When the Bush tax cuts were set to expire, they passed due to more GOP-style hostage taking, holding unemployment benefits and the repeal of DADT on the line. But, this time, the public is fully aware of the sacrifices they’ve been asked to make, while the wealthier are fattening their wallets, without sacrifice.

 

Corporations are given every benefit in this apocalyptic economic scenario Republicans would have voters believe is occurring presently, but, if our economy is so dire, why the hell are ‘we the people’ asked to sacrifice, while the corporations are not, meanwhile they are afforded the right to vote.

 

Citizens United took a crap on our Constitution while the right wing applauded and now, while some of them actually get tax returns, they are protected by Republican politicians. So, where is the crisis?

 

Are we broke or are they just printing money like gamblers in Vegas because it just doesn’t matter anymore – the rich will endure and the middle class will pay for the good life they’re living.

 

Take note, that Schumer is a great voice for Democrats, but in the past, he has been the beneficiary of Wall Street money. In short, none of them can be completely trusted to speak for us, so be loud.  Very loud.

 

Greed is so unbecoming.

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  • Driverside

    Poverty, unemployment, and homelessness are at their highest levels since the Great Depression, and republicans think this is a good time to cut spending on public services and give hand-outs to the rich and famous.

    I guess defaulting on the national debt is their new strategy to help the economy.

    • Shiva

      @Driverside, I think its part of the plan to make sure America has the poorest middle class in the universe. So the Koch brothers and their bosses can buy us up cheap

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