If congressional Republicans never had any intention of using the increase in the $14.294 trillion debt ceiling as leverage to extract big spending cuts from the Harry Reid-led Senate and the Obama Administration, they had ample opportunity after the 2010 elections to say so.
They could have just said, “That’s crazy talk!” and left it at that. Fiscal conservatives may have still called for the debt ceiling to be used in exchange for cuts, but other avenues would have been pursued to bring the nation’s fiscal house in order.
Instead, Republican leaders, emboldened by the decisive result of the 2010 elections, stoked the embers for this idea and really were the ones who got the ball rolling.
After the election, Senate Minority Leader Mitch McConnell told Fox News’ Brett Baier that the debt ceiling “will not be [raised] without some strings attached, if it happens, because they're going to have to seriously address spending and debt.”
McConnell added, “The American people want it, they expect it. That was a big issue in yesterday’s election.”
Later on, House Speaker John Boehner, speaking to the Economic Club of New York, said, “Without significant spending cuts and reforms to reduce our debt, there will be no debt limit increase. And the cuts should be greater than the accompanying increase in debt authority the president is given. We should be talking about cuts of trillions, not just billions.”
The American people have since rallied to the idea. According to Gallup, a 51 percent majority of Americans, including 52 percent of Independents and 57 percent of Republicans, are more concerned about the debt ceiling being raised without big cuts than they are of the risk of an economic crisis if it is not raised.
That means, in spite of the talking heads and big corporate lobbies pushing for a no strings attached increase in the nation’s credit limit, Republicans have been winning this debate. Not even the White House’s fear mongering and shameless class warfare has penetrated that much.
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