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Paul Krugman Stands With Obama, ‘You Don’t Negotiate With (Debt Ceiling) Hostage Takers’
Paul Krugman laid out why the left is standing with President Obama in refusing to negotiate on the debt ceiling.
Video:
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Transcript from ABC’s This Week:
KRUGMAN: But this is not something you negotiate over. You do not negotiate with hostage-takers. That’s the White House position. They’re right about that. You just don’t negotiate on this. You can negotiate on the sequester, you can negotiate on taxes, but not on someone who is threatening to blow up the world economy if he doesn’t get his way.
NOONAN: My goodness. That appeared to be the White House attitude on the fiscal cliff just a month or two ago.
KRUGMAN: It’s very different.
NOONAN: Why can nothing ever be worked out? We do have a president. We do have legislative leaders. We do what should be noted, have a spending crisis in America. It is not an eccentric thing to worry about the amount of spending that America does. The income, the outcome and the long-term promises.
KRUGMAN: This is really — this is a doomsday — this is really saying I will blow up the world unless you give me what I want. And you don’t negotiate on that.
The debt ceiling as originally created by Congress in 1917 was intended to be a tool to help generate agreement between the president and Congress. Nearly a century later, the debt ceiling has become a tool of hostage taking and partisan warfare by a much different Congress. No matter how much House Republicans try to make it so, the debt ceiling is not a mechanism for controlling spending. Krugman referred to the debt ceiling as both stupid and dangerous, and that is exactly what it is.
Krugman’s comments are especially bad news for Republicans and the right who are hoping that Democrats and the left blink first on the debt ceiling. That isn’t going to happen. The White House wants all the pressure on the Republicans. Raising the debt ceiling is their responsibility, and President Obama has no incentive to toss the Republicans a lifeline. Since GOP hostage taking no longer works on President Obama, Speaker Boehner is counting on the desperate strategy of the left forcing Obama to make a deal.
The truth is that a majority of the country has joined together to say no to the tantrums, dramatics, threats, and hysterics of congressional Republicans. Rewarding congressional Republicans for their bad behavior, only leads to more bad behavior. As a nation we are going to let Republicans play at their little drama, and do what they always do when the Democrats refuse to yield to their tantrum.
At the very last possible second House Republicans will raise the debt ceiling, and then comfort themselves with deluded promises that next time their tactics will work.
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9 Responses to Paul Krugman Stands With Obama, ‘You Don’t Negotiate With (Debt Ceiling) Hostage Takers’
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Anne
Jan. 13th, 2013 at 4:32 pm
There is no “negotiating” with people whose idea of compromise is having their own way without having to give anything up in return. Besides, they have tried and failed to get the harmful budget cuts they want and this is only their latest attempt to bring them about. There is no reason at all to think they would do anything in good faith or on behalf of Americans. The only thing they deserve is egg in their faces if and when the president finds a way to take care of this issue by running circles around them.
Edward Shafer
Jan. 13th, 2013 at 4:44 pm
I have been saying the same thing ever since 2011 when the Tea Party first pulled this despicable trick. I would only add one more thing to Krugman’s argument. The President has never had to go to Congress to get authorization for raising the debt ceiling since passage of the 14th amendment.
14th Amendment, Section 4 says in part: “The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.”
In short these existing debts shall be paid. There is no question about whether we will pay them or not.
Obama should stand on the 14th amendment and give the teabaggers the middle-finger salute.
Joy
Jan. 13th, 2013 at 5:19 pm
I would like to stop the nonsense and lie promoted by the GOP that President Obama has a spending problem. The debt ceiling is about money already spent. The majority of this debt was put on by the GOP not paying for 2 wars and the Bush tax cuts. The GOP had no problem raising the debt ceiling numerous times under Republican administrations. I stand with the President and Krugman. Don’t negotiate the world economy with Republican extremists!
Linda
Jan. 13th, 2013 at 5:34 pm
I am sick & tired of politicians claiming how SS is broke. Pay back all the money that was borrowed from it over the years & it would be funded for a very long time. Also, if the cap was taken away, SS would be funded even more. You don’t put the elderly at financial risk because our money was stolen by politicians. Take their benefits away & it would save us millions. They don’t deserve the benefits & salaries they get.
djchefron
Jan. 13th, 2013 at 6:02 pm
Is it just my bias or does it seem the nooners spikes her coffee with xanax with a shot of Gordan’s gin every time shes on the tube.
I swear she makes less and less sense as time goes by.
savageDOG
Jan. 13th, 2013 at 6:08 pm
besides all of the above, under the U.C.C.[universal commerce code] all debts will be paid.PERIOD
congress may be bought and paid for by big oil, but they will have to answer to…..no, not voters…but the Rothchilds
dar win
Jan. 13th, 2013 at 6:35 pm
and they let peggy noonan bloviate on how the prez was guilty of not negotiating with the GOP teahadists. you could see krugman wanted to rip her head off, but handled it factually, yet she get blathering the rest on the round table. typcial murdoch wsj shill she is….
Rudy Gonzales
Jan. 13th, 2013 at 9:34 pm
KRUGMAN: this is not something you negotiate over. You do not negotiate with hostage-takers. That’s the White House position. They’re right about that. You just don’t negotiate on this. McConnell trying to draw a line in the sand on raising taxes and crying about excessive spending has not a shred of evidence to prove it.
The current debt has already been incurred and is coming due. The House passed and the Senate sent to the president bills which have incurred these expenses. Obligations must be paid. You can negotiate on the sequester, you can negotiate on taxes, but not on someone who is threatening to blow up the world economy if he doesn’t get his way. Sadly that is the way of the TEA-types currently controlling the once proud Republican party. The debt ceiling as originally created by Congress in 1917 was intended to be a tool to help generate agreement between the president and Congress. Nearly a century later, the debt ceiling has become a tool of hostage taking and partisan warfare by a much different Congress.
President Barack Obama has already signed into law 2.4 Trillion dollars in deficit reduction and much more could be accomplished if the TEA-type run Republican deficit hawks would work with the president. If the Republicans won’t do their jobs and protect the full faith and credit of the USA, then the President, the Treasury Secretary and the Democrats have (permission) find some way to pay the nation’s debts. Any Senator or congress-person who openly criticizes, helps or aids to not implement and/or shut down passed legislation have violated their fiduciary function for and to the people of the USA. McConnell. Boehner, Joe Walsh, Ken Cuccinelli or anyone who openly defies congressional actions, legislation or acts should be held to a much higher standard, charged with contempt and set upon to make examples of them for the rest of the country. Get active in local, state and national politics and keep yourselves informed. Vote!!!
Mark Williams
Jan. 14th, 2013 at 11:57 pm
If the house does not vote to extend the debt limit it will accelerate the incredible, shrinking Republican Part and permanently draw power from the house to the president.