debt ceiling

PRESIDENT URGES CONGRESS TO RAISE DEBT CEILING

By Miriam Raftery

January 14, 2013 (Washington D.C. ) – In a press conference today President Barack Obama today urged Congress to raise the debt ceiling and made clear that his position is non-negotiable. (View video and read transcript.)

Republican House members have balked thus far. Speaker John Boehner said, "The American people do not support raising the debt ceiling without reducing government spending at the same time." (View full statement.)

The President called that position “irresponsible” and made clear that raising the debt ceiling does not increase spending, but instead authorizes the nation to pay its bills already incurred by Congress.  He likened House Republicans' stance to refusing to pay a restaurant bill after the food has been eaten, adding, “We are not a nation of deadbeats.”

WILL POWER REPORT: S&P'S $2 TRILLION TAX ERROR?


Nothing but the truth!

 

By Will Power

 

August 8, 2011 (San Diego)--The downgrading of the U.S. credit rating by Standard and Poor was thrown into limbo when a $2 trillion dollar math error was found in their calculations. I wish my bank would make the at kind of mistake on my bank account!

 

CONGRESSMAN HUNTER TAKES HEAT FOR VOTING TO CUT MEDICARE AND SOCIAL SECURITY

 

By T.J. Dunnivant
Miriam Raftery also contributed to this report

 

August 3, 2011 (El Cajon) -- For the second week in a row, voters staged a protest outside Republican Congressman Duncan Hunter’s 52nd Congressional District office to urge that their representative address needs of ordinary citizens over corporations and the wealthy.

DEBT CEILING COMPROMISE PASSES HOUSE, MOVES TO SENATE

 

3 local representatives vote yes, 2 oppose

 

August 1, 2011 (Washington D.C.) -- By a 269-161 vote, the compromise measure hammered out by President  Barack Obama and bipartisan leaders of both houses passed the House of Representatives.  It now advances to the Senate, which is expected to vote before tomorrow's deadline to raise the debt ceiling or face default on our national debt.

 

Congressman Duncan D. Hunter (R-El Cajon) voted no on the measure, citing concerns over defense spending cuts. Congresswoman Susan Davis (D-San Diego) voted in favor, calling it the "best of no good alternatives." Both have issued statements explaining their positions in detail.  (Scroll down for full text). San Diego Republican Congressmen Brian Bilbray and Darrell Issa voted for the measure, while Democrat Bob Filner voted against it.

 

In a moment of drama, Arizona Congresswoman Gabby Giffords returned to the House floor for the first time since being shot in the head, drawing bipartisan applause as she entered the chamber to vote for the bill. 

HUNTER FACING HEAT FROM BOTH SIDES OF AISLE ON DEBT CEILING VOTE

 Update August 1:  The House has passed the compromise measure 269-161 late today. Rep. Hunter voted no.  His explanation may be found here:  http://www.eastcountymagazine.org/node/6852

 

August 1, 2011 (San Diego’s East County) –Congressman Duncan Hunter (R-El Cajon) has served in combat zones in Iraq and Afghanistan. But now he’s facing fire from both sides of the political aisle as tomorrow’s deadline draws near to approve a plan to raise the debt ceiling, or see the U.S. default on its debts. 

 

Rep. Hunter has reportedly not yet made up his mind how he will vote on the high-stakes measure.

PRESIDENT, CONGRESSIONAL LEADERS APPROVE DEBT DEAL: BUT WILL IT PASS ON THE HILL?

 

By Miriam Raftery

August 1, 2011 (Washington D.C.) – President Barack Obama and Congressional leaders from both parties reached a last-minute deal last night aimed at forestalling the U.S. from defaulting on the national debt by tomorrow’s deadline. But the agreement hinges on getting both sides of Congress to pass it swiftly.

READER'S EDITORIAL: TEA PARTY TACTICS ON DEBT CEILING ARE REVOLTING

By Doug Hunter

 

July 31, 2011 (San Diego)--The original (Boston) Tea Party was staged by area businessmen, who hired and organized a bunch of thugs and drifters to disguise themselves as Indians and destroy the cargos of East Indian Company ships. The parallels with today’s Tea Party are striking, but I fear the ultimate outcome will be less desirable.

 

LEFT HOOK: THE DEBT CRISIS—ARTIFICIAL, IMMORAL, PREVENTABLE

 

By Walter Davis

 

"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -Woodrow Wilson, after signing the Federal Reserve into existence (1)…

READER’S EDITORIAL: BEYOND THE DEBT CEILING CRISIS

 

By Russell Buckley

 

July 29, 2011 (La Mesa)--Our nation is in a tough spot. Our government has run up an unprecedented level of debt that many Americans now realize will become unsustainable in the very near future. Too, the interest on Government debt precludes more spending on progressive social programs.

READER'S EDITORIAL: DEBT CEILING PROPAGANDA

 

Cutting government spending doesn't create jobs--it increases unemployment and is bad for our economy

 

By Carol Guerrero, Spring Valley

 

July 26, 2011 (Spring Valley)--As the debate on the debt ceiling continues, I am distressed to hear the Republicans continue to use propaganda techniques to obscure clear economic analysis. Although there are many possible examples, I will use one from the House Speaker’s response to President Obama’s address to the nation last night. He repeated, as have his Republican colleagues over and over again, that lowering government spending will create jobs and help the economy.

 

As any macroeconomic class teaches, this statement is false in the short run and probably in the long run as well.