Obama Open to Short-Term Debt Increase

The Obama administration signaled it may accept a short-term increase in the U.S. debt limit only if lawmakers need a few days to finish work on a broader agreement to cut the deficit. President Barack Obama “must have a firm commitment to something big” on cutting the deficit before he would sign a short-term rise in the debt ceiling, White House spokesman Jay Carney told reporters at a briefing. He released a written statement later saying Obama “does not support a short-term extension” unless “a few days” are needed “for a bill to work its way through the legislative process.” The president called congressional leaders to the White House today as the Aug. 2 deadline for raising the $14.3 trillion debt limit nears.

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And so goes another empty and failed threat. Obama not so long ago said "I will not even consider anything that hits my desk that is not a long term solution" He followed that up with a statement that went something along the lines of "Don't call my bluff, I will take this to the American people". Well guess what, they called your bluff, and now your going to have to do anything, just to get something done. Maybe he should really try maintaining a firmer stance for a change, and not be so quick to back down. If it comes down to brass tacks there is sure to be a compromise, but not when you show your hand too early in the game.

I liked what Rand Paul said recently concerning this matter: "...There is no reason for us to default. There is no reason for a deadline. We bring in $200 billion a month. There's absolutely no reason to ever default..."

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