Press Staff Blog

Not Solving the Problem

We already know that Speaker Boehner has offered a short-term debt limit plan that would return our country to a state of imminent default within months, subjecting our economy to high levels of uncertainty. Now, CNN has reported that passing the Boehner plan would likely lead the rating agencies to downgrade America’s AAA credit—a step that would destroy jobs by dramatically raising interest rates for millions of Americans.

Six Costs of Not Raising the Debt Ceiling

Wanted to pass along this handy list from National Journal summarizing the consequences of failing to ensure we pay our nation’s bills. These are costs Americans can’t afford. We hope Republicans will take note and work with us on a long-term, balanced compromise that would reduce the deficit and ensure we pay our nation’s bills.

National Journal

Six Costs of Not Raising the Debt Ceiling

By Julia Edwards

The People Have Spoken

Polls show overwhelming support for a balanced plan to reduce our deficit and pay our bills—even among Republicans. House Republicans standing in the way of a compromise and pushing our country toward default are far to the right of most Americans.

Bob Corker to American Economy: "Chill Out"

Pop Quiz for Senator Bob Corker (R-TN):

Which option will keep us from defaulting?

A. Compromise on a balanced package that includes revenues and spending cuts, and increase the debt limit

B. Chill out

Sen. Corker’s Response: B

White House Blog: Some Republicans in Congress Once Argued Against Short-Term Solutions - They Were Right

Wanted to be sure you saw this White House blog post by White House Communications Director Dan Pfeiffer highlighting Republican opposition to short term debt limit increases. In a quick turnaround, Republicans are arguing for short-term extensions of the debt limit, which would put our economic security at risk and create uncertainty for businesses and the markets.

The White House Blog

Some Republicans in Congress Once Argued Against Short-Term Solutions - They Were Right

Grover vs. Grover: The Audio Doesn't Lie.

This morning, Americans for Tax Reform President Grover Norquist made a big splash by saying that allowing the Bush tax cuts to expire in 2012 would not violate his organization’s pledge against tax increases.

Grover, Say What?

Key Point: “Not continuing a tax cut is not technically a tax increase,” Mr. Norquist told us. So it doesn’t violate the pledge? “We wouldn’t hold it that way,” he said.

Out from under the anti-tax pledge

Washington Post Editorial, Published: July 20

Wall St. Sends Another Grave Warning, Will House Republicans Listen?

Wanted to make sure you all saw this article in the New York Times outlining the damage to our fragile economy that default would do. So far, House Republicans have refused to heed the warnings and have refused to work with Democrats on a big, grand bargain approach to deficit reduction that includes revenues.

Maybe these warnings from the Times will wake them up:

CAP Interactive Map: No Debt Limit Increase Means Big Cuts to State Services

Republicans may be in denial about the catastrophic consequences of failing to ensure we pay America’s bills, but it’s clear that states will pay the price if Congress doesn’t come together on a balanced agreement to ensure we pay our bills. In case Republicans need a visual to understand the impact, CAP has put together an interactive map showing how states would be affected, with each losing hundreds of millions of dollars if we fail to ensure we pay our nation’s bills.

From the Center for American Progress:

Stranger Than Fiction

From the Democratic Whip Press Shop:

We know that Republican debt limit antics have reached the point of absurdity when The Onion hits the nail on the head describing the Republicans’ position that’s putting our economy at risk. Republicans may be pushing our country toward default, but at least they’re pushing the bounds of satire at the same time: