Originally Posted by kael03
Since this thread is regarding the U.S. national debt, the Speaker of the House just walked away from the table
Republicans are really starting to show they don't give a damn about the country or the people they supposedly represent, only lining their pockets as shown with their "plan" that would cut costs to education and research yet ask nothing from oil and gas companies. Obama's plan may cut into Social Security, but with the baby boomers getting to retirement age, those of my generation and the next won't see a dime from Social Security.
The speaker of the House didn't walk away from anything. He simply gave up on trying to settle things with Obama and shifted his discussions towards working something out with the Senate. The House has already passed a budget with an overwhelming majority, including a good many Democrats voting for it. So now he's pushing the Senate to do the same, or at least something similar to his bill, in which they can work out the full details in a joint committee. He's hoping if he can get the Senate (which is still run by a slim Democrat majority) to go along he can force the presidents hand as the deadline gets near. It's a game of chicken and the Republicans are sure that Obama will back down first. And they're probably right.
The fact is major budget cuts are going to be made. They simply have to. Raising the debt ceiling isn't the answer to the problem. If anything the people we owe our debts to are more worried about this matter then we are. They're the ones with nearly $15,000,000,000,000 invested in the problem, and you better believe they want that money back. If the U.S. doesn't show it can handle this problem and get its spending under control, that's going to cause way more uncertainty in the global markets. At this point all raising the debt limit is going to say to the world is "We can't handle the problem", and that's the last message we want to send.