Will the Debt Ceiling be Breached
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From the Left
Jack Lew: President Has 'No Option' To Pay Bills If Debt Ceiling BreachedTreasury Secretary Jack Lew said Republicans in Congress are "playing with fire" and that there is "no option" available for the president if they refuse to raise the debt ceiling.
Some Republicans have suggested that once the debt ceiling is breached, President Barack Obama could take action on his own to prevent the country from entering into default, triggering cascading world financial problems.
From the Left
Cruz: Use debt ceiling debate for leverageSen. Ted Cruz of Texas linked raising the debt ceiling to funding the Affordable Care Act in an exclusive interview Sunday on CNN's "State of the Union” with Candy Crowley.
“The debt ceiling historically has been among the best leverage that Congress has to rein in the executive," Cruz said.
He listed three objectives as Republicans approach the debt ceiling.
"No. 1, we should look for some significant structural plan and reduce government spending. No. 2, we should avoid new taxes, and No. 3, we should look for ways to...
From the Right
Lew sticks with 'catastrophic' warnings about debt-ceiling, but short on specificsTreasury Secretary Jacob Lew on Sunday defended accusations of fear mongering over Congress potentially failing to increase the federal debt limit -- including his assertion that the economic impact would be “catastrophic.” He declined, however, to provide specific examples, saying instead that Congress blowing the Oct. 17 debt-limit deadline would be “reckless.”
“The consequences are immediate and very bad,” Lew said on “Fox News Sunday.” “The direction is bad. There is a range of how bad.”
Lew also said the White House is willing to negotiate on fiscal issues, despite...
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