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“Over the past few weeks, several Republicans have followed the Tea Party’s lead in declaring that they will vote against any increase in the national debt ceiling. Today, on Meet the Press, Sen. Lindsey Graham (R-SC) drew a thick line in the sand, declaring, “I’m not going to vote for a debt ceiling increase unless we go back to 2008 spending levels, cutting the discretionary spending.”
On ABC’s This Week, conservative columnist George Will responded to Republican opposition to raising the national debt ceiling and the threat it poses to the fiscal solvency of the nation:
I know of no other developed nation that has a debt ceiling. This is a purely recurring symbolic vote to make people feel good by voting against it.
The trouble is it’s suicidal if you should happen to miscalculate and have all kinds of people voting against it as a symbolic vote and turn out to be a majority. Because if the United States defaults on its sovereign debt, the markets will be — well, it will be stimulating.”
“Some GOP lawmakers said that they opposed raising the ceiling on the nation’s debt without tackling government spending, but Austan Goolsbee, President Obama’s top economic adviser, warned such a move would push the country into defaulting on its financial obligations.”
Austan Goolsbee chairman of the Council of Economic Advisers on ABC News Sunday:
“I don’t see why anybody’s talking about playing chicken with the debt ceiling. If we get to the point where you’ve damaged the full faith and credit of the United States, that would be the first default in history caused purely by insanity“.
“Incoming Senator Mike Lee (R-UT) ran as a tea party candidate, who claimed to be determined to change how business was done in Washington. Yet on Fox News Sunday this morning, Lee was asked by Chris Wallace why if his goal was to “drain the swamp” would he pick to have an energy lobbyist as his Chief of Staff? Lee responded that he wasn’t “scared” of lobbyists and that his lobbyist was “brilliant”:
WALLACE: Senator Lee, you have chosen an energy lobbyist as your Chief of Staff. Is that the right person to drain the swamp here in Washington?
LEE: I’ve hired the brightest political mind, political consultant, and lobbyist in Utah – a man named Spencer Stokes. He’s a brilliant man. He understands Utah politics and he understands Washington politics and I need a man like that to help me in Washington.”
“Last year was a tough one for the American economy. There was some growth and some jobs were created, but not nearly enough to keep up with the continuing high rates of unemployment. Host Liane Hansen speaks with Agriculture Secretary Tom Vilsack, who says that rural America was one bright spot in last year’s economic picture.”
“California Republicans may be rising in the new GOP House, but their party is in tatters back in California. The blue state is only getting bluer, causing Republicans to worry if they have a future there. “
“Rick Scott, once leader of the nation’s largest for-profit hospital chain. is expected to recommend the creation of a panel to study whether government-owned hospitals are necessary. Scott will be sworn in on Tuesday.”
“Japan faces an imminent labor shortage as its population ages, but it has done little to open itself to immigration.”
“Despite having been on the job for nine months, RadioShack CEO Julian Day said Monday that he still has “no idea” how the home electronics store manages to stay open. “There must be some sort of business model that enables this company to make money, but I’ll be damned if I know what it is,” Day said. “You wouldn’t think that people still buy enough strobe lights and extension cords to support an entire nationwide chain, but I guess they must, or I wouldn’t have this desk to sit behind all day.” […]
“Have you even been inside of a RadioShack recently?” Day asked. “Just walking into the place makes you feel vaguely depressed and alienated. Maybe our customers are at the mall anyway and don’t feel like driving to Best Buy? I suppose that’s possible, but still, it’s just…weird.””
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