debt ceiling

Remember back in March when the talk of the town was all about the debt ceiling and how the end of the world was coming if one party wasn’t going to take one for the team and compromise? Well, it’s been a while, and Congress has had a few other things on its agenda in the meantime, but now…we’re back! Congress has just less than three weeks to pass a budget and ohhh boy, here we go again with the stubbornness in Washington.

President Obama has emphasized that he will not negotiate over raising the debt ceiling for the 2013 budget. With that said, prepare yourself for another showdown; it’s guaranteed to be a real crowd pleaser. Expect that Speaker Boehner will be up on his game to tackle the issue. At the outset, about 80 House Republicans have already said that they will only support a resolution that agrees to defund Obamacare…so that’s something to deal with. The process really took a hard hit last week after that opposition was brought to light. According to Boehner in a Fox News article, “the law [Obamacare] is a train wreck,” and he and other GOP leaders are standing behind two bills, one to defund Obamacare and one to fund the government. As expected, President Obama’s reaction to this is that the Republicans have no problem with “shutting down the government if they don’t get 100 percent of what they want.”

So hold onto your hats kids, it’s going to be a fun one. The fiscal year ends for Congress on September 30, so the body needs to pass some sort of spending bill by October 1 to prevent a government shutdown. Ah, the “government shutdown” rhetoric, what fond memories.

For more information, take a look at this CNN article. Where do you stand on the debt ceiling debate and curtailing our nation’s spending?

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