Republicans prepare for another debt ceiling fight
Published: Wednesday, April 24, 2013, 8:30 p.m.
WASHINGTON — A key committee of the House of Representatives approved a measure on Wednesday designed to make it easier for Republicans to withhold approval of a rise in the government debt ceiling to extract spending cuts from President Obama.
The government is expected to hit the limit set by Congress on its ability to borrow money by late July or early August. Without an increase in debt ceiling, the United States faces the prospect of defaulting on its debts, which could shake up markets and damage the economy.
The bill, approved by the Republican-controlled House Ways and Means Committee, would seek to avoid default by requiring the Treasury to pay public bond-holders — as well as Social Security beneficiaries — in the event Congress refuses to raise the debt ceiling.
“What this does is it removes that uncertainty and takes the threat of default off the table,” Rep. Paul Ryan, R-Wis., said.
Ryan acknowledged after the meeting that in his view, it would strip the White House of talking points it uses against Republican tactics.
In previous disputes when Republicans have threatened to block an increase in the debt ceiling, the president has accused the party of jeopardizing Social Security payments and shirking its responsibility to pay the nation's bills.
While the bill may pass the Republican-controlled House, it will almost certainly fail to win approval in the Democratic-controlled Senate.
Democrats view the measure, which they call “prioritization,” as a ploy.
Obama has been adamant that he will not negotiate over the debt ceiling.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Prostitution found to have vast economic impact
- CIA accused of meddling in torture probe
- Lerner emails looked for way out of difficulties at the IRS
- Georgia wants ‘slow poke’ drivers to stay in right lane
- NTSB chair Hersman steps down
- General gets OK to pursue plea deal
- Mo. man freedin editor’sdeath sues for $100M
- Floodwaters fall in Montana, Wyoming
- Senate plan aims to overhaul Fannie, Freddie
- 5th Amendment cited in N.J. bridge inquiry
- FDA approves migraine treatment device