Swordsmyth
07-03-2017, 05:36 PM
Even Paul Ryan voted against the last debt-ceiling bill in 2014 when he was Chairman of the House Ways and Means Committee. And in the Senate, every Republican opposed the bill the last time around. Given these odds, the chances of another round of downgrade-inducing gridlock are high – and the possibility of raising the US borrowing limit before Congress’s August recess, as Treasury Secretary Steven Mnuchin has repeatedly urged, are looking increasingly remote. The problem is compounded by the fact that this is the first time in 11 years that the GOP will be in charge of raising the debt ceiling while controlling both chambers of Congress AND the White House, meaning that the optics surrounding who “owns” the bill will complicate the voting process.
Furthermore, the Democratic leadership appears to be standing by its policy of obstructionism, unwilling to do President Donald Trump any political favors, according to the Hill. (http://thehill.com/policy/finance/340299-gop-leaders-have-few-sure-votes-on-debt-ceiling)
That political dynamic puts all of the responsibility for raising the debt ceiling on the GOP, and little if any on Democrats. House Minority Leader Nancy Pelosi (D-Calif.) will not want to give slack to vulnerable Republicans who don’t want to back the debt ceiling hike for their own party’s president.
“I don’t see Democrats bailing out Republicans, just like Republicans didn’t bail out Democrats,” said Steve Bell, senior advisor for the Bipartisan Policy Center and a former staff director of the Senate Budget Committee. “They’ll say ‘we’re going to give you the same amount of help you gave us.’”
In the spring, Pelosi and Senate Minority Leader Chuck Schumer (D-N.Y.) suggested that Democrats could withhold support from a clean debt hike if Republicans separately press for legislation cutting taxes on the wealthy.
They later said that Democrats would back a clean debt hike, but Pelosi will want as many Republicans as possible to support it since their party controls the White House. And the tax talk has given an argument to any liberal who chooses to oppose a debt ceiling hike.
So far, only four of the 16 House Republicans who backed the clean debt ceiling in 2014 suggested they would consider voting for a clean hike – far below the 24 votes needed to pass such a bill. They are: Charlie Dent (Pa.), Darrel Issa (Calif.), Peter King (N.Y.) and David Valadao (Calif.).
More at: http://www.zerohedge.com/news/2017-07-03/only-4-house-republicans-say-they-would-support-clean-debt-ceiling-hike
Furthermore, the Democratic leadership appears to be standing by its policy of obstructionism, unwilling to do President Donald Trump any political favors, according to the Hill. (http://thehill.com/policy/finance/340299-gop-leaders-have-few-sure-votes-on-debt-ceiling)
That political dynamic puts all of the responsibility for raising the debt ceiling on the GOP, and little if any on Democrats. House Minority Leader Nancy Pelosi (D-Calif.) will not want to give slack to vulnerable Republicans who don’t want to back the debt ceiling hike for their own party’s president.
“I don’t see Democrats bailing out Republicans, just like Republicans didn’t bail out Democrats,” said Steve Bell, senior advisor for the Bipartisan Policy Center and a former staff director of the Senate Budget Committee. “They’ll say ‘we’re going to give you the same amount of help you gave us.’”
In the spring, Pelosi and Senate Minority Leader Chuck Schumer (D-N.Y.) suggested that Democrats could withhold support from a clean debt hike if Republicans separately press for legislation cutting taxes on the wealthy.
They later said that Democrats would back a clean debt hike, but Pelosi will want as many Republicans as possible to support it since their party controls the White House. And the tax talk has given an argument to any liberal who chooses to oppose a debt ceiling hike.
So far, only four of the 16 House Republicans who backed the clean debt ceiling in 2014 suggested they would consider voting for a clean hike – far below the 24 votes needed to pass such a bill. They are: Charlie Dent (Pa.), Darrel Issa (Calif.), Peter King (N.Y.) and David Valadao (Calif.).
More at: http://www.zerohedge.com/news/2017-07-03/only-4-house-republicans-say-they-would-support-clean-debt-ceiling-hike