Boehner sets up another debt limit fight

AP Photo/J. Scott Applewhite, File

UPDATED 4:10 p.m. ET

(CBS News) For anyone listening to House Speaker John Boehner this afternoon at the Peterson Foundation Fiscal Summit in Washington, DC, his words might have sounded familiar.

According to the speaker's remarks, Boehner said that when the time comes for President Obama to ask for another increase in the nation's legal borrowing limit, "I will again insist on my simple principle of cuts and reforms greater than the debt limit increase."

Boehner made this same demand before the great debt limit showdown last summer. The requirement that the increase be matched dollar for dollar with spending cuts led to months of wrangling between, and within, the two parties over which cuts should be made and whether a "grand bargain" was something the Mr. Obama and the speaker could achieve to cut trillions from the deficit.

Ultimately, a grand bargain was out of reach. Boehner said today that the president "moved the goalposts, changed his stance and demanded tax hikes."

"We ended up enacting a package with cuts and reforms larger than the hike," Boehner added. "But it could have been so much more. The letdown was considerable. And, in turn, our nation's credit rating was downgraded for the first time."

The failure of the president and speaker to reach agreement resulted in a deal to create a "supercommittee" designed to find at least $1.2 trillion in deficit savings to accompany the need for a debt limit increase.

The only problem with that plan was that the supercommittee, made up of both Republicans and Democrats, failed to reach an agreement over the right mix of spending cuts and tax increases. The two sides were unable to find common ground. The result of that, if Congress does not act, is that $1.2 trillion in cuts will go into effect at the end of this year automatically with half of those cuts coming out of the defense budget while the country is still at war.

Will it be any easier next time?

Speaker Boehner seems to think it's the only way forward given the continuing fiscal imbalance and $15 trillion federal deficit.

"This is the only avenue I see right now to force the elected leadership of this country to solve our structural fiscal imbalance" Boehner said. "If that means we have to do a series of stop-gap measures, so be it - but that's not the ideal. Let's start solving the problem. We can make the bold cuts and reforms necessary to meet this principle, and we must."

When asked about the speaker's comments, Minority Whip Steny Hoyer said the dollar for dollar requirement "is a simplistic characterization of the issue that confronts us. We are buying more than we're paying for. The Republicans are good at buying and lousy at paying."

"The debt limit should not be a political issue" Hoyer added saying it undermines confidence in the United States. "Mr. Boehner knows it shouldn't be a political issue."

Treasury Secretary Timothy Geithner has said that the country will likely hit the borrowing limit at the end of this year, but that it's likely they can find a way to wait for a debt limit increase until the beginning of next year at the start of a new Congress.

Boehner said that the fight over the debt limit should be considered an opportunity.

"We shouldn't dread the debt limit. As a matter of fact, we should welcome it" Boehner said. "It's an action-forcing event in a town that has become infamous for inaction."

Sen. Patty Murray, who served on last year's super committee, slammed Boehner for setting up another showdown.

"Republicans have spent the last year running away from the deal we made to avoid the last artificial crisis they created, so I don't know why the speaker is already laying the groundwork for another one. Apparently one Tea Party credit downgrade isn't enough for House Republicans," the Washington state Democrat said in a prepared statement.

[wildemanne]

ok boner, the bonehead, im sure yahoo will censor thiS, as they usually do! they're such a$$ kissers when it comes to commiepublicans, here goes, BONER you're stupid for taking the anti constitution pledge, that turns our grand old party into a bunch of communist leaning, middle class hating, kkk members! you should do this country a favor and just resign, but you wont, it would cut you out of your govt sponsored taxpayer paid gravy train, you rethuglicans relish so much, but your times coming, TERM LIMITS ARE ROUND THE CORNER, AND THEN YOUR SORRY OLD BUTT WILL BE PAYING YOUR OWN WAY
REPUB/CONSERVATIVE/COMMUNISTS IN SUITS/RETHUGLICANS YOUR TIMES SLOWLY ENDING, AND I FOR ONE WILL REJOICE WHEN YOU FALL INTO THAT HOLE IN THE GROUND, YOU'RE ALL DESTINED FOR! VOTE 2012 GET THE THIEVING COMMUNISTS OUT OF OFFICE, IF THEY'RE NOT FOR THE LOWER MIDDLE CLASS WHO PAYS THEIR SALARY, THEY'RE NON PATRIOTIC MORONS THAT BELONG IN PRISON

[MyrtleSue]

4th try lets see if this gets deleted. I AM DISGUSTED WITH YOU BOEHNER. This is not ETHNIC CLEANSING IT IS CLASS CLEANSING. HOW BOUT WE PULL YOUR TEETH,TAKE YOUR HOME,YOUR CARS,SUITS,BANK ACCOUNT&CHOP UP YOUR HEALTH INSURANCE.Would you be okay with that. I have cancer,live on $700 a month. Not because I want to but because I have to I have PTSD from being raped by a sexual predator let out of jail. Why don't you let out marijuana possession jailed and keep the predator's in. Would save you $40,000.00+per person&$'s in court costs. Why can't the rich give? Why do the poor have to give and give.Yet the rich you are telling me will have to lay off workers because...hmmm...THEY ARE GREEDY. Not the small businesses but BIG business. So stop with the FEAR MONGERING&do something to benefit the disappearing middle class and poor. Why don't all you fat cats pass some money out to those that need it-IN AMERICA-WOW new concept but YES there are people in GREAT NEED IN THE USA. Isn't America a great country? Depends who your father or mother was depends on what you've done to get where you are...for some. For others they are better off dead is essentially what you are saying. SO SUPER SIZE ME TO COMPLETE POVERTY-where I'm at already,a homeless cancer patient with no teeth no hair no vision. Pat yourselves on the backs Republicans-you're slowly getting rid of the unsightly. WINNING!!!!!

[OldTimeTruth]

I can see he still has his same spots. He still doesn't want to get anything done. It's to bad the American people have to put up with him.

[sandiegopete]

These Republicans do not care about the deficit nor the debt ceiling. They have spent virtually all their time trying to outlaw abortions, stop women from getting birth control, keeping gays from marrying or being judges and passing laws like the one the House did today that says it is OK to assault Native Americans, gays and lesbians.

All the talk about the budget is just a political smokescreen to coverup their social agenda. That social agenda is the most important thing they can go because it is the basis for the money they get from the evangelicals who are their only source of funds. In addition, it is well established that the Republicans have sworn, in writing their allegiance to Grover Norquist over the United States of America.

[themrtea]

The only thing Democrats know how to do is demonize. They have no intelligence and behave like cowards. This confrontation was caused by their failure to enact a budget in the first place as required by law. The budget put up by POTUS did not receive even one vote from his own party. With dynamic Harry Reid in the lead, nothing will happen.

[Lindag10]

One can only hope the voters of his district in Ohio are tired of this "weeper" and dump him. The Republicans keep breaking the deals that they originally made in order to make their corporate masters happy.

[hypnotoad72]

Where was Boehner a decade ago?

http://thinkprogress.org/politics/2011/04/14/158424/republican-leaders-debt-limit-hypocrisy/

http://thinkprogress.org/politics/2011/04/14/158424/republican-leaders-debt-limit-hypocrisy/

http://thinkprogress.org/politics/2011/04/14/158424/republican-leaders-debt-limit-hypocrisy/

http://thinkprogress.org/politics/2011/04/14/158424/republican-leaders-debt-limit-hypocrisy/

Read it for once, people.

[SandmanUSMC]

Republiconman Bohner is demanding budget cuts, all the wile the GOP is trying to get the President to sign off on BILLIONS for next year's defense bill.

Smells like GOP cars only about propping up their defense industry cohorts at the expense of taking care of Americans.

Gee, this sounds like a familiar theme in their ideology. Raid the US treasury to feed defense dependent companies.

Answer: Companies that are too reliant on defense budget handouts need to diversify their product lines. St. Louis is a national model city for such defense conversion. It is now an aerospace, biomedical research hub with many successful businesses. Moreover, they have been very resilient during the recession.

In other words: GOP, go tell your defense companies to do their homework and quick sucking from the US Treasury. American tax payers can no longer prop-up wanna-be defense contracters. Back in the early 1990's the motto of the day was "diversify or die". They had better learn that now or else.

[irvrowe]

House Speaker John Boehner needs to go. He needs to be fired—immediately. He is indeed a national threat to this country. In his one year as Speaker, he has displayed that he is not equipped to hold that office and he needs to give up the job. He is like a little boy wearing big man pants. The Speaker position and its responsibilities is way above John Boehner's capabilities; he needs to be fired—immediately.

This has been the worst session of Congress under Boehner's leadership. Congress has had it lowest approval rating and passed the least amount of significant public laws. Boehner has effectively gridlocked the government and is driving this country into ruin. His actions are selfish, self serving, reckless and unpatriotic. He has waged war against Americans in his blinding attempt to defeat President Barack Obama. He has contributed to sabotaging the economy—impacting million of American lives: your neighbors, brothers, sisters, mothers, grandparents, sons, and daughters— in his quest to expand Republican control of government. He has bet against Americans and he should pay for his actions by voting him out of office—not rewarded with another term.

Under Boehner's leadership the House has blocked every effort to pass meaningful laws to help this economy grow, including the American Jobs Act and a number of other economic initiatives. His brinkmanship led to the debt ceiling debacle last summer that led to America losing its triple A credit rating and he has threatened to do the same thing this year. He is fighting against implementing defense spending cuts that were agreed to under the Budget Control Act of all year. Instead he wants to expand defense spending and cut poor people support programs like food stamps, school lunch, meals on wheels, etc., to pay for it. Instead of focusing on job creation Boehner has been focused on restricting abortions, dismantling the Environmental Protection Agency (EPA) and rolling back women rights and protection, especially with the Violence Against Women Act.

John Boehner is a threat to our country. Anyone who purposefully conspires to derail America's economic success and diminish the existence of millions of Americans is an enemy. John Boehner has to go!

[woozybarnes]

And from just last week.....

http://www.cbsnews.com/8301-250_162-57431781/house-panel-oks-more-defense-money-than-requested/?tag=stack

[woozybarnes]

Chevy:
From 2008
http://www.cbsnews.com/8301-500803_162-4486228-500803.html?tag=re1.channel

[woozybarnes]

Snippet from the last link dated September 2008 right before your hero left town:

"Buried deep in the hundred pages of bailout legislation is a provision that would raise the statutory ceiling on the national debt to $11.315 trillion. It'll be the 7th time the debt limit has been raised during this administration. In fact it was just two months ago, on July 30, that President Bush signed the Housing and Economic Recovery Act, which contained a provision raising the debt ceiling to $10.615 trillion."