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It damages the economy when Congress threatens to default on debt they previously voted to incur. Last time Republicans tried extorting the President with the debt ceiling it led to a United States credit downgrade which unnecessarily spooked the markets, and ironically investors sold equities and bought US debt pushing bond yields below zero. So for a while right after the downgrade, investors were paying the government to hold their money because of the perceived safety of US bonds. This is not what would happen if investors thought the US government was at risk of default.

Republicans in Congress know they've already exhausted this cheap trick. Maybe President Obama will finally call their bluff.

Republicans don't want a long-term fix on this issue. They want to keep threatening us with pointless economic disaster so that they can force through policy changes they don't have the votes to pass on their own. But their political games just add instability to the economy and put all of us at risk. It is not responsible behavior.

Am I alone? Do any of you seek a second revolution to restore the Constitution, balance the budget and bring this over bloated hog called the Federal Government back into line?

The last time I checked, anyone who threatens to cause irreparable damage to the USA is considered a terrorist and if a citizen, treasonable. It's time to charge the tea members of the House with treason.

Oh how I wish Obama would answer the demands for cuts to the budget in order to raise the debt ceiling. I wish he would propose closing military bases around the world, bringing our troops home early from all around the world and slashing the military budget. Then I wish he would encourage a tariff on goods and services that were once a part of the US economy in the USA that have now moved to foreign countries. Reward them correctly for their economic treason. Someone wants a revolution? Let's start by thinking of middle class Americans first and let the rest of the world fend for themselves for a change.

And the can continues to go down the road into the point of now return. You think Obama will get his spending in line the second term? We will be $25 trillion in debt at the end of his second term. Yet you won't here any protest from the new majority of people as long as he keeps the freebies coming they could care less.

Still waiting for those cuts. Are they coming any time soon? How about a budget?

dayton says taxes for avg mn person will fall but overall state will raise $2B more. from where? is this magic? obama is saying same thing. we will spend more but tax burden will fall for joe average. huh?

The goptp needs to get their party together, and quit wasting tax payer dollars, with their petty games. I wish the reasonable republicans would work put something, and ignore the extremeists.

I bet the press will hate it if they pass this.... nothing to talk about in politics for 3 months. Oh darn! What are those right and left wing political shows going to do to keep their ratings up?