Treasury's Lew sets up battle over debt limit

  • Article by: Jim Puzzanghera , Los Angeles Times
  • Updated: August 27, 2013 - 8:13 PM

President Obama will not bargain with lawmakers about attaching conditions to an increase in the debt limit, saying Congress has the responsibility to ensure that the nation’s bills are paid and that the government doesn’t default, Treasury Secretary Jacob J. Lew said Tuesday. “The president’s been very clear we are not going to be negotiating over the debt limit,” Lew told CNBC a day after formally notifying Congress that the federal government would run out of borrowing authority in mid-October.

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kilofoxAug. 27, 13 9:30 PM

As Obama said in 2006 about Bush's request for a debt ceiling increase "The fact that we are here today to raise the debt limit is a sign of failed leadership. I therefore intend to oppose the effort to increase America's debt limit. Washington is shifting bad choices today unto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. America deserves better." And what is this? Obama's 3rd or fourth request....go figure.

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yogibear6363Aug. 27, 13 9:43 PM

The main stream media is lying to the American public again. Secretary Lew is not the one who has set up the fight, it is the extremist fringe of the Republican party who thinks they can get some ransom by holding America hostage.

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drfranktAug. 28, 13 6:11 AM

I have to say that I agree with Obama..."The fact that we are here today to raise the debt limit is a sign of failed leadership." He could not have said it more clearly for the uninformed voters!

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hans550Aug. 28, 13 7:04 AM

I don't like some of the charges on my credit card bill, even though I didn't stop them from being charged in the first place. I think I'll just refuse to pay the bill. To heck with my credit rating!

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ivehaditAug. 28, 13 7:33 AM

drfrank: "I have to say that I agree with Obama." Good! You have joined the ranks of the non-FOX-informed voters who understand that the GOP is willing to sink the ship to drown the captain.

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theagonybhoAug. 28, 13 8:38 AM

I think most everybody in the GOP knows the limit will be raised and it would be a bad idea to shut the government down. That being said the ball is in Obamas court, make significant cuts and the limit is raised, its that simple.

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avejoeconAug. 28, 13 8:52 AM

Good! You have joined the ranks of the non-FOX-informed voters who understand that the GOP is willing to sink the ship to drown the captain.--------Not sure what part of this post is against the rules, but for the 3rd time, I'm asking what fox news puts out that is different than any other network? And IMHO, it is Obama that is sinking the ship. Every single policy he puts out is bad for the economy and is creating the slowest recovery in modern times and has given him the lowest GDP growth of any president.

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duck2013Aug. 28, 13 9:40 AM

77% of all jobs created this year have been part-time and relatively low-paying. How has Obama's borrowing and spending to the tune of nearly $6 TRILLION since he took office worked out? It has failed miserably just like everyone with a brain knew it would. Never ending demands for tax increases, massive debt, that's a recipe for disaster. Oh, did I mention the stock market has been dropping, dropping, dropping and not even the Fed printing $85 BILLION per month to buy securities to artificially inflate the stock market, bond prices, and home values is having much effect anymore? American worker incomes have done WORSE AFTER the recession which ended in June 2009 than during the recession. One person is responsible for it: Obama.

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avejoeconAug. 28, 1310:12 AM

"The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a Sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. ...Increasing America’s debt weakens us domestically and internationally. Leadership means that 'the buck stops here'. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and Grandchildren. America has a debt problem and a failure of leadership. Americans deserve better." SENATOR BARACK HUSSEIN OBAMA, MARCH 2006

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MNSports24Aug. 28, 13 1:53 PM

It's a shame that anyone needs to take sides on this debate. We NEED to find ways to decrease government spending. 16 trillion in debt doesn't just go away. Everyone should be looking for ways to make government more efficient instead of blame and political posturing. Let's get real, find some solutions, and stop the blame.

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