On Sept. 18, Pres. Barack Obama addressed the Business Roundtable, urging business leaders to oppose Republican efforts to “link raising the debt limit to further spending cuts and entitlement reforms.”
“You have never seen in the history of the United States the debt ceiling being used to extort a president or a governing party,” the president said.
Obama’s plea comes just days before Congress must pass a spending bill for fiscal year 2014. The deadline is Oct. 1. Republicans in the House of Representatives are continuing to pressure the GOP into defunding Obamacare, while pressuring Democrats to agree to more spending cuts, so Congress does not again have to raise the debt ceiling.
Obama said, “This strategy would wreak havoc on the economy.”
But Republicans aren’t buying Obama’s strategy, either. Republican Speaker of the House John Boehner recently pointed out that when Obama was a senator in 2006, he voted against raising the debt ceiling. According to the White House, Obama now regrets that vote.
Republicans aren’t backing down.
“Basically, his message is this: America isn’t in a free fall, so everyone should give him a big pat on the back…In an effort to justify his own failed policies, and preserve them, the president is papering over some pretty troubling realities,” said Senate Minority Leader Mitch McConnell (R-KY).
How do you feel about raising the debt ceiling again? Is Obama out of line?
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