Now that the “show” vote on raising the debt ceiling is over, the real negotiations are beginning. But what is there really to negotiate about when everyone agrees that eventually the ceiling must be raised?
While the President is apparently advocating the need to continue spending in order to help the economy heal from the recession and begin growing, the Republicans are saying absolutely not.
Via the New York Times:
“The discussion really focused on the philosophical difference on whether Washington should continue to pump money into the economy or should we provide an incentive for entrepreneurs and small businesses to grow,” Mr. Cantor said. “The president talked about a need for us to continue to quote-unquote invest from Washington’s standpoint, and for a lot of us that’s code for more Washington spending, something that we can’t afford right now.”
The Times notes that included in this proposed stimulus is “tax incentives for small businesses that Republicans typically support.” But, in order to take a hard stance against all things Obama proposes, this time they want to say no.
So, no spending or stimulus is allowed, the GOP has already said absolutely not to rescinding Bush tax cuts for the rich. But cuts there will be, according to Speaker of the House Boehner. After all, he has a letter with 150 economists demanding it.
I was more impressed by his “150 economists” before I started looking at the list and saw one former Republican candidate and former conservative talk show host, one conservative book club author, and a Hoover Institute scholar just on the first page.
The next debt ceiling vote is scheduled for next week.
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