Overview for debt-ceiling

GOP Message of the Day: Retreat!

The McConnell plan offered Republicans an ingenious exit from the debt-ceiling confrontation, but conservatives in the media are reviling the plan. The McConnell plan offered Republicans an ingenious exit from the debt-ceiling confrontation: the debt ceiling would be raised in exchange for a …

Written by David Frum on Wednesday July 13, 2011

Social Security Checks Are Not Guaranteed

Conservatives blast Obama when he suggests that Social Security payments will not be secure in after hitting the debt ceiling, but the law will back him up. Back when conservatives were fighting the good fight for private accounts in Social Security, we often pointed to the Supreme Court ruling …

Written by David Frum on Tuesday July 12, 2011

GOP Must Use Debt Debate to get Real Cuts

The GOP must extract political concessions with the debt debate. What other opportunity will there be to hold the Democrats' feet to the fire? I have been struck by the arguments here at FrumForum that the hard line Republicans against raising the debt limit are “radical.” I put aside the …

Written by John Vecchione on Tuesday July 12, 2011

Who is the Priority Creditor on Default Day?

Here's a skill-testing question in this time of debt showdown, who is the most senior government creditor after Default Day? Here's a skill-testing question in this time of debt showdown. Who would be the more senior government creditor after Default Day: - A disabled Social Security …

Written by David Frum on Tuesday July 12, 2011

GOP Losing Touch With Economic Reality

In the debt debate the President has the bully pulpit and the GOP is getting its clock cleaned. President Obama’s news conference this morning confirmed the age-old truth: a President has the bully pulpit. More people saw, or will see in some format, the President’s remarks today than …

Written by Steve Bell on Tuesday July 12, 2011

The Debt Ceiling's Collective Action Trap

The debt ceiling vote is one where every Republican will want to be on the losing side. But if they all win then the country will lose. If you're a Republican elected official, you want two things from the debt-ceiling budget talks: 1) You want the talks to succeed - to produce a deal that …

Written by David Frum on Thursday July 7, 2011

What to Watch in the Debt Negotiations

Here are the things to watch as the news about the debt negotiations comes out today. While we await the news from today’s debt ceiling negotiations between Republicans and Democratic leaders, news outlets are already leaking and reporting on the possible contours of a deal. But which …

Written by Noah Kristula-Green on Thursday July 7, 2011

Here's the Way to a Deal!

Eric Cantor’s recent declaration that Republicans will look at “loopholes”is a step in the right direction but Cantor is wrong to insist that any loophole closing be met with an equal cut in taxes. Eric Cantor’s recent declaration that Republicans will look at “ loopholes ”is a step in the right …

Written by Eli Lehrer on Thursday July 7, 2011

The Debt Limit has to be Constitutional

The Balkin-Bartlett view of the Fourteenth Amendment and the public debt is tempting. But that view seems to me very clearly wrong. The Balkin-Bartlett view of the Fourteenth Amendment and the public debt is tempting. But having read and considered Ajay's excellent blogpost , that view seems …

Written by David Frum on Wednesday July 6, 2011

How the GOP Benefits From a "Constitutional Option"

The Republicans also benefit from a decision to decide that the debt limit is unconstitutional, though the country would suffer. As Matt Yglesias suggests , one of the big reasons for the left bringing up the "Constitutional option," in which the president would override the debt ceiling by …

Written by Fred Bauer on Wednesday July 6, 2011

Will Politicians Ignore David Brooks?

David Brooks is warning the GOP to avoid a default, but will they listen to him? One of the things that has attracted me to David Brooks over the years is his willingness to not get so heated in his writing. In a time when it seems that what sells is trying to show everyone how outraged you …

Written by Dennis Sanders on Wednesday July 6, 2011

Sorry, the Debt Limit Looks Constitutional

Despite what some would hope, it looks like the debt ceiling is indeed constitutional. With negotiations over the debt limit going down to the wire, the threat of a catastrophic default looms on the horizon. In order to prevent this disaster from happening, some analysts and experts think …

Written by Ajay Ravichandran on Wednesday July 6, 2011

The Real Debt Debate Sticking Point?

Politico insinuates that a big sticking point for the GOP in the debt-ceiling negotiations is a demand that the earnings of hedge funds continue to be taxed at the 15% capital-gains rate rather than income-tax rates. Politico insinuates this morning that a big sticking point for the GOP in the …

Written by David Frum on Wednesday July 6, 2011

Obama Calls for Lopsided Negotiations

President Obama has summoned Republicans to another round of negotiations over the debt ceiling. And now President Obama has summoned Republicans to another round of negotiations over the debt ceiling. Perhaps he will there deploy some previously invisible form of leverage. To the …

Written by David Frum on Tuesday July 5, 2011

Obama's Weakness Made Debt Crisis Worse

In my latest column for CNN, I discuss how Obama's weakness in his negotiations over the debt ceiling have made the debt crisis worse. In my latest column for CNN, I discuss how president Obama's weakness in his negotiations over the debt ceiling have made the debt crisis worse: Why aren't …

Written by David Frum on Tuesday July 5, 2011

Default Will Extract a Political Price from the GOP

Republicans in Congress need to understand that there will be a political price to them, not only to the president, if they force the United States into a default. David Brooks delivers a withering column in today's NYT: The struggles of the next few weeks are about what sort of party the …

Written by David Frum on Tuesday July 5, 2011

Obama Puts Congress on Notice

Obama has taken off the gloves in his fight with Congress over the debt ceiling increase. In his statement and news conference yesterday, President Obama decided to take off the gloves in his fight with Congress over the debt ceiling increase. His performance should stand as a reminder to …

Written by Steve Bell on Thursday June 30, 2011

There is No Upside to a Default

Can anyone explain to me slowly what exactly congressional Republicans are doing on the debt ceiling? Can anyone explain to me slowly what exactly congressional Republicans are doing on the debt ceiling? Yes, I perfectly understand the need to restrain borrowing (relative to GDP), …

Written by Andrew Pavelyev on Thursday June 30, 2011

Here's How To Get To A Debt Ceiling

Here’s the dirty little secret of the endlessly protracted debt ceiling negotiations —it actually isn’t that hard to meet the targets set out by either side. The theatrics of the past two weeks aside, the wink and the nod seem to be already communicated as the President, the Speaker of the …

Written by Steve Bell on Monday June 27, 2011

Washington Stalls on Debt Limit Deal

The most frustrating part of the fiscal and debt debates in Washington DC is that all the participants are using the same arguments they've always used. The movie, " Groundhog Day ," rushes to mind as we watch the tragicomedy of the recent debates on the national debt and the country's fiscal …

Written by Steve Bell on Sunday May 15, 2011