.
April 28th, 2011
04:09 PM ET

How do you see the debt ceiling fight being resolved?

FROM CNN's Jack Cafferty:

It's back to work for Congress on Monday as lawmakers return from a fun-filled two week Spring Break.

The National Debt Clock pictured in Manhattan last week.
The National Debt Clock pictured in Manhattan last week.

During their time off, some members returned to their districts to hear from constituents, many angry and confused about the budget cuts and deficit reduction plans. Then there are those like Senate Majority Leader Harry Reid and nine other senators who went on junkets instead to faraway places like China and its city of Macau, that country's closest thing to Las Vegas.

The fun and games will be over next week though. One of the first big battles that awaits this Congress is the question of raising the nation's debt ceiling. The U.S. is expected to reach its current debt limit of $14.3 trillion on May 16th. That's just about two weeks away. If Congress doesn't agree to raise it, we could default on our debt obligations and that would have devastating effects on the markets and this economy. But simply raising it may not be that simple.

House Speaker John Boehner has said he will not agree to raise the debt ceiling unless Democrats promise to make meaningful spending cuts to the budget and to reform Medicaid and Medicare.

In a recent interview, Former Treasury Secretary Paul O'Neill under George W. Bush called Republicans who insist on linking a debt ceiling increase to budget cuts quote "our version of al Qaeda terrorists." unquote.

He says the two should not be part of the same debate and the lawmakers who insist on doing that anyway are putting our society at risk.

He might be right. But putting our country at risk has never been that much of an issue for Congress.

Here’s my question to you: How do you see the debt ceiling fight being resolved?

Interested to know which ones made it on air?

Michael in Alexandria, Virginia:
I see the Biden commission and the Gang of Six being combined into a new fiscal commission, to include enough Republicans to get them to agree to raising the debt ceiling. The new fiscal commission will be well staffed with the task of producing legislative language by a date certain with a fast track vote at the end.

John in Lake Charles, Louisiana:
It will go down to the last possible minute and then the Democrats will give in to Republican demands. So what else is new?

April in Iowa:
I don't see the debt ceiling debate being resolved. I think Republicans are going to refuse to lift the debt ceiling unless they get changes Democrats are unwilling to give. It's all a big game of chicken and the American people are paying the fine. I don't see anything good coming out of this debate but I usually don't see anything positive coming out of Congress anyway.

Jim in Toledo, Ohio:
The Republicans will allow passage. They took a beating over break.

Carl:
Until it affects both corrupt political parties, I don't see it being resolved. We absolutely need a new government. Just my opinion, but I see a revolution in our future. We have to stop these evil and corrupt politicians from destroying our once great country.

Dave:
There really is no choice but to raise the debt ceiling. Not to do so would be a disaster, and make our deficit problems worse. There's not a financial expert alive who thinks allowing the U.S. to default on its debt is a good idea, which is what would happen if the debt ceiling is not raised. Anyone who votes against it is a fool.

R. in Minnesota:
The politicians will raise the roof speaking about it, then raise the ceiling, and the rest of us will hit the floor financially.


Filed under: National debt
soundoff (130 Responses)
  1. Peg in NY

    I don't see it being resolved.

    April 28, 2011 at 1:48 pm |
  2. Joe R - Houston

    My hope is that the debt ceiling vote won't wind up being an entitlement enabling even more deficit spending, but my expectation is that we'll simply continue on the road to eventual cataclysmic default and bankruptcy.

    April 28, 2011 at 1:50 pm |
  3. greg from NC

    Jack, I see more of the same, maybe cranked up a little more. The prototype is the final approval of a 2011 budget.

    Both sides are far apart, then the pressure of looking like an ass will kick in and the thing will be approved, after CNN and other political outlets tease us and tweak us for weeks and months.

    It will be a silly stage play but I'd rather watch this performance than A ROYAL WEDDING anytime.

    April 28, 2011 at 1:50 pm |
  4. Russ in PA

    Most politicians will fight to kick the can down the road, and raise the limite. Hopefully the two Pauls and Demint will win the argument, and convince others to NOT raise the debt ceiling. After all, raising the debt ceiling is likely to open the door to more spending, and allow the can to be kicked further down the road.

    Unfortunately, the longer politicians take to get serious and cut the spending dramatically, the worse it will be for us little folk.

    Ron Paul in 2012...

    April 28, 2011 at 2:07 pm |
  5. Alex in Bremerton, WA

    The GOP will posture with their new-found concern over the deficit but the debt ceiling will be raised just like it was numerous times during the Bush administration. The Tea Party Caucus are the only ones who want to play chicken with the world's fragile economy.

    April 28, 2011 at 2:07 pm |
  6. bob z fr ,pa.

    i would like to see that they get rid of the fed and put a stop of all spending that is back at 2000 leval

    April 28, 2011 at 2:08 pm |
  7. MYSTERIOUS

    What, no question about the tea partiers and Republicans' failure as far as the birth certificate is concerned?

    Oh, that's right. I'll make Obama look like the grown-up in the room. Right.

    April 28, 2011 at 2:13 pm |
  8. Loren, Chicago

    Not in any way that protects the American people. Reality hasn't hit home yet in Washington and neither the Democratic party nor a good portion of the Republican party understand that the practices of the last twenty years can't go on. If they're concerned about the inroads of the Tea Party into public consciousness, they need to do something and co-opt their agenda. Stop mortgaging our future.

    April 28, 2011 at 2:16 pm |
  9. david-seattle

    In the end, Just another 2 party monopolized capitulation. one side blaimin the other while both add to the countries demise.

    April 28, 2011 at 2:17 pm |
  10. Conor in Chicago

    The way it always gets resolved: The Republicans insisting on imposing their utterly radical Right Wing ecnomic theory on the rest of us and holding the legislative process hostage, thus threatening the very existance of the United States, so that Democrats, who aren't eager to watch the United States totally collapse into chaos, give in and buy more time so that the people of this country can continue to fight.

    April 28, 2011 at 2:19 pm |
  11. Ed Reed

    It reminds me of the scene in the Mel Brooks' movie, Blazing Saddles. The black sheriff is cornered by the bad guys but escapes by taking himself hostage, holding a gun to his own head and threatening to shoot himself. In this case the Tea Party crowd is the sherriff, but not as funny as Cleavon Little.

    Ed
    Texas

    April 28, 2011 at 2:20 pm |
  12. Wilhelm von Nord Bach

    they will raise the debt seiling because otherwise there would be another financial panic. Wall Street knows this and will order their Republican employees to do it.

    April 28, 2011 at 2:22 pm |
  13. Bizz, Quarryville Pennsylvania

    The vote has already been counted and the debt ceiling will be raised. That is what the lobbyist want and big business wants, they control Congress. Tea party members will vote no and run to fox news for interviews. But that was probably agreed upon by the republican party knowing full well the debt ceiling would be raised. Everyone knows it has to be raised or we will default on our debt. I don't know why they just don't come out and say that instead of playing politics.

    April 28, 2011 at 2:24 pm |
  14. Dave

    There really is no choice but to raise the debt ceiling. Not to do so would be a disaster, and make our deficit problems worse. There's not a financial expert alive who thinks allowing the US to default on its debt is a good idea, which is what would happen if the debt ceiling is not raised. Anyone who votes against it is a fool.

    April 28, 2011 at 2:25 pm |
  15. Adam Simi Valley, CA

    Establishment Republicans have no spine. They will raise the ceiling after getting some token promises from democrats, ala the budget deal where the 50 billion in cuts they touted amounted to 250 Million in actual spending cuts. The republicans are too worried about reelection to actually make any meaningful changes to the system. In Washington, self-preservation trumps their responsibility to the American people and their oath to uphold the Constitution. They'll make some noise but in the end they'll aid and abet the Democrats in the further destruction of our financial system.

    April 28, 2011 at 2:25 pm |
  16. Paul, New Port Richey, Fl.

    The government will win; and we will lose. Nothing changes.

    April 28, 2011 at 2:29 pm |
  17. CRAIG R. MCNEES

    tampa, fl when the debt ceiling falls on top of our politicians. for now, they will raise the debt ceiling to cover all business as usual, including a big fat raise and a few new perks for themselves, good job!

    April 28, 2011 at 2:37 pm |
  18. Carl

    Jack,

    Until it affects both corrupt political parties, I don't see it being resolved. We absolutely need a new government. Just my opinipon, but i see a revolution in our future, we have to stop these evil and corrupt politicians from destroying our once great country.

    April 28, 2011 at 2:42 pm |
  19. Tom in Desoto, TX

    Republicans will vote for it as long as there is money for war and tax cuts at the expense of education and infrastructure, as usual.

    April 28, 2011 at 2:53 pm |
  20. Bradley, Portland, OR

    What I think SHOULD happen is Congress should submit a clean bill to raise the limit and the President should sign it.

    What I think WILL happen is that the House Republicans will pass a bill with more draconian cuts to the social safety net, more tax cuts for the wealthy, and lots of social policy riders; and they'll threaten to hold the country and the world economy hostage unless the Democrats agree to their blackmail.

    The Democrats, being weak, will agree to most or all of the Republicans' demands, to avoid destroying the world's economy and plunging us into Great Depression II.

    April 28, 2011 at 3:02 pm |
  21. Jef

    If the news media plays to their every word, then the answer is simple – NO!

    Jef
    Bossier City, LA

    April 28, 2011 at 3:05 pm |
  22. lou

    The dems have become that annoying parent in the mall who pleads and begs their child to do the right thing. They'll count to three, act really annoyed at them, but in the end, they'll give in to whatever the child wants, even though they know it isn't good for them. It will pass, but not without a lot of ridiculous attachments from the spoiled republicans.

    April 28, 2011 at 3:05 pm |
  23. Pete in Georgia

    How can a thing called a "Debt Ceiling"........................whatever that is........................be resolved when it is the work and result of immoral, deceitful politicians so completely out of touch with everyday decent citizens, living only for their own greed and selfish agendas ??

    Just another on a long list of insults to ordinary Americans.

    April 28, 2011 at 3:10 pm |
  24. Larry from Georgetown, Tx

    The Tea Party people will fight to the death to not approve it without stopping "Obama Care", the other Republicans will want more cuts to the needy to support more wars and the Democrats will hide in the closet. Then in the end, they'll flip a two-headed coin to see who wins.

    April 28, 2011 at 3:12 pm |
  25. Phyllis G Williams

    How do you see the debt ceiling fight being resolved?

    As He told us in 2nd Chronicles 7: 14, if we obey, He will show someone how to pay it as He did with the loaves in Matthew 16: 9-10..
    “FAITH Can Move MOUNTAINS” –Matthew 17: 20 *smile)

    April 28, 2011 at 3:15 pm |
  26. David in Florida

    A moderate increase in the debt ceiling would be acceptable only if the money borrowed could be "earmarked" toward job creation, bring manufacturing jobs back to America!! There are only so many part-time jobs at McDonalds!!! Lets revive the CCC (Civilian Conservation Core) Federally Funded Jobs program to upgrade infrastructure, roads, bridges public lands and parks..........................LETS PUT PEOPLE TO WORK!!!!

    April 28, 2011 at 3:18 pm |
  27. ken, atlantic city, nj

    The debt ceiling problem will be resolved by obama agreeing to all the cuts the repubs want, and borrowing the money from the federal workers pension fund. Obama will talk the dem talk but walk the repub walk.The simple fix to the 14 trilion dollar federal debt problem would be to elect ron paul or just implement a 1% tax for 1 year on the 700 trillion dollar derivaties trades. A 1% tax would generate 7 trillion dollars which would eliminate the deficit and cut the federal debt in half. How much longer will the voters tolerate these do nothing politicians.

    April 28, 2011 at 3:22 pm |
  28. Bud Rupert

    With the threat of Economic collaps at hand if they don't raise the debt limit they have no choise but to vote for it. Of course the GOP leadership will allow those members whose constituants are the most vocal against the idea to vote against it, as long as they have enough votes for it to pass both houses. What will be Dems give in return? Probably not much this time.

    April 28, 2011 at 3:23 pm |
  29. Michael Bindner, Alexandria, VA

    I see the Biden Commission and the Gang of Six being combined into a new Fiscal Commisison, to include enough Republicans to get them to agree to raising the debt ceiling. The new Fiscal Commission will be well staffed with the task of producing legislative language by a date certain with a fast track vote at the end.

    April 28, 2011 at 3:25 pm |
  30. John from Alabama

    Jack: I see the Republican controled House not passing a Continuing Resolution (CR) and the government shuting down. I see the Republicans out of office in 2012. I see common sense coming back to some degree with the Republicans in the minority. I see the middle class start to grow again, instead of, shrinking under the Republicans policy of Fat Cats get everything they want. Paul Ryan is defeated by the Baby Boomers.

    April 28, 2011 at 3:29 pm |
  31. Joe CE

    possibly a few more budget cuts. They need to agree on a long term plan that can be done – stop the attacksa on entitlements. Entitlewments are not giveaways, they have been earned and the country should styand by its previous pledges. SS can be fixed permanetly by puttint it in a seperate, dedicatede fund and raising the Cap. Medicare can be fixed by applying the medicare tax to all types of income. If they fix those, a 5% annual reduction in the deficit would be doable – enact a balanced budget law and get there by this method.

    April 28, 2011 at 3:29 pm |
  32. Tom Bulger, Canandaigua

    Republicans will vote to raise the debt ceiling. There are 261 millionaires in Congress. When you see them demanding more tax cuts for the rich you see how well they look after themselves. They'll stop damaging US credit and credibility to protect their greenbacks not the country's.

    April 28, 2011 at 3:29 pm |
  33. Ed from California

    The Dem's caving into anything the Kochplicans want!! If Grandma, or you, me, or every American loses their social security and medicare, (even though we all pay into it,. And it's not part of the Budget) then so be it!! Just as long as the friends of the GOP get a tax break and are happy in seeing this country dissolve into Greece, then all is good !! See....your vote does count!!

    April 28, 2011 at 3:33 pm |
  34. Curt, Indiana

    The debt ceiling fight will be settled only after the President tells the world what he wants to do and the Republicans take the opposite track. It doesn't matter what President Obama wants to do, it will be branded as wrong. Then Donny Trump will demand to have the Obama family bible researched for authenticity.

    April 28, 2011 at 3:33 pm |
  35. Debra

    I don't see it being resolved. They think it is their money not the American people's money. They need to grow up and act like they really care about doing something. If they can't do their job I think they don't deserve to get paid. If I did that at a job I would be fired. They are earning far more than most people do for doing nothing, they need to get off their butts and start working If not fire them.

    Deb
    Baldwinsville, NY

    April 28, 2011 at 3:33 pm |
  36. JENNA ROSEVILLE CA

    How do you see the debt ceiling fight being resolved?

    Jack,

    Once again the GOP is posturing. They had no problem raising it under every other president multiple times, there is no reason NOT to raise it now.

    They forgot that they were the ones who got us into this mess and voters won't forget this is 2012 if they block this. Are they really willing to put this nail in their cofins?

    Jenna
    Roseville CA

    April 28, 2011 at 3:34 pm |
  37. MNResident

    The politicians will raise the roof speaking about it, then raise the ceiling, and the rest of us will hit the floor financially......

    April 28, 2011 at 3:34 pm |
  38. David, from Plant City Florida

    I would hope that the dems stand up and use the Political leverage they currently have to force the Republicans to back down and not do something stupid.
    However, what I see happening is the Democrats will continue to be the frightened people they are and will give the Repubs everything they want to prevent it, even though it would be a Party wide Political Suicide for the Repubs to allow the country to go into default.

    April 28, 2011 at 3:36 pm |
  39. Steve, Clifton, VA

    I see the Dem's handing a token budget reduction bone and subsequently the debt ceiling will be raised with the GOP pretending that they have won another budget/deficit reduction battle on behalf of the "American People".

    April 28, 2011 at 3:41 pm |
  40. Kim Smith

    It will be resolved when we declare bankruptcy, our economy crashes and burns, and the streets are full of rioters.

    April 28, 2011 at 3:45 pm |
  41. Lori - PA

    jack,

    I can't see the Democrats and Republicans resolving the debt ceiling battle.

    April 28, 2011 at 3:51 pm |
  42. John .......................... Marlton NJ

    It will be an all out propaganda war between the 'Eearners' and the 'Entitled' and we will here that four letter word W-O-R-K thrown around . In the end the limit will be raised slightly but the 'Entitled' will feel at loss .. not getting something for nothing. Another group that will be licking their wounds will the be the 'contract changers', the Washington contract mongers affectionately named after the Wall Street 'money changers'.

    April 28, 2011 at 3:54 pm |
  43. Frank in Indiana

    Lots of noise from the 24 hour news media, then a simple ceremony at the last minute. Though if they're smart, they'll do it quickly to assure the international markets.

    April 28, 2011 at 3:55 pm |
  44. Dennis north carolina

    They will have to resolve the debt limit or the government will stop functioning and our economy and the world economy will falter making the depression look good. what I would like to see happen as a independent that the president stand his line and both parties come together to solve the situation on equal footing. the republicans have showed their true colors after taking control of the house but forgot they don't control everything an the democratic have cave when they did not have too so do they have any guts. we need a true third party, who will not bend left or right but to react as true life is presenting different situations. we need to stop living under the fairy life of the right or left.

    April 28, 2011 at 4:00 pm |
  45. John, Lake Charles, LA

    It will go down to the last possible minute and then the Democrats will give in to Republican demands. So what else is new?

    April 28, 2011 at 4:01 pm |
  46. Ed from MD

    I see both democrats and republicans pushing up the ceiling as hard as they can. On tip toes on the tops of step ladders and it seems to work.

    April 28, 2011 at 4:02 pm |
  47. Chandler in Rockaway, NJ

    It won't be resolved. The right-wing tea-baggers are so in love with their own dogma that they would rather wreck the economy than compromise.

    April 28, 2011 at 4:09 pm |
  48. Conor in Chicago

    The Republicans raised the debt ceiling 6 times during the Bush administration and were given a clean bill, meaning that nothing else was attached to it, every single time.

    Now a Democrat is trying to clean up their utterly irresponsible decade of governing and they intend to hold the economic health of the world ransom all because they love Ayn Rand and want to impose an obscene and radical economic model on this country that will benefit them and impoverish the rest of us.

    I saw let the Democrats hold their ground. If Boehner wants to destroy the economic system because he's so radical he thinks the best way to change the system is to destroy then fine-I'm game.

    This far, no farther. Otherwise we will keep giving inches until we've given it all.

    April 28, 2011 at 4:18 pm |
  49. Remo, from beautiful downtown Pflugerville Texas

    Jack it's absurd. If we don't raise the debt ceiling nothing will happen. We are too deep in debt for anyone to do anything. Life will go on, television folks will have their little heyday in covering this, and the folks in Washington will continue their ongoing FUBAR and resolve nothing. We we do default, I'm sure a few Wall Street crooks will get rich even more and middle America will get pissed off even further and when it comes voting time, those who went on junkets will be out of a job and a new batch of politi-crooks will have a go at it. And Obumbler will be voted out.

    April 28, 2011 at 4:18 pm |
  50. Don Desaulniers (Belleville, Canada)

    It will get temporarily resolved at the last possible moment, each Party trying to wring as much image benefit as possible from their respective lines in the sand.
    Meanwhile, the atrocious annual deficit problem and the gigantic accumulated debt albatross will not get resolved. Any major spending or taxing decisions will just get kicked down the road, possibly even until after the 2012 election.
    Fundraising and re-election work are much more exciting and important to your Congress and President than the tedious, thankless work of wisely governing America.

    April 28, 2011 at 4:21 pm |
  51. Mike S., Dayton

    The U.S. debt will only start decreasing if we reverse the Bush tax cuts that started this mess in the first place. The next time someone promises you a check for their vote, remember these results.

    April 28, 2011 at 4:23 pm |
  52. Jason Cutler

    Wilton, CT

    The debt ceiling will be raised. It has to be raised or the US will default on its bonds with world wide catastrophic consequences. If Republicans can begin to deal with reality and stop playing chicken with the lives of 99% of tax paying Americans, we might be able to make some progress. But their goal is not to solve the problem, but to punish Obama. They are traitors to America since they are putting their political goals ahead of any rational and fair resolution of the budget crisis. There is no way to justify tax cuts for the richest American while pretending to care about the deficit. A bunch of liars, hypocrites and ego maniacs.

    April 28, 2011 at 4:25 pm |
  53. DON IN WESTPORT, MASS.

    How much did that so called spring break cost the taxpayers.
    I can gaurantee that what ever measures are taken it won't come out of the congressmens pockets.
    Do they really care? Will they get fired if they fail to reach an agreement?
    Middle class people, get your wallets out.

    April 28, 2011 at 4:30 pm |
  54. Kevin of SD CA

    How do you see the debt ceiling fight being resolved?

    Leave it where it is, and reduce the budget by taking back all the salaries and property of the educated idiots (past and present) that have caused the mess, and continue to cause the mess of the National Debt! I am tired of being held in check while these morons get paid to rob me the tax payers blind!

    April 28, 2011 at 4:32 pm |
  55. Tom Mytoocents Fort Lauderdale, Florida

    Jack
    As an economist of impecable qualification. My considered opinion is the debt ceiling is actual a hole viewed upside down. My personal liquidity zero's out every month in a perfect balance consistently. Either Congress is suffering from dyslexia or the prospect of facing facts is just more than they can interpret into understandable dialog. The product of this denial is to reverse the perspective and invert negative into a positive as in "Ceiling" vs Cavern.
    Clever twisting of crunching numbers where we are led to believe that in time the imaculate will occur and wipe out negatives leaving prosperity for all. If your really that smart , can you you just explain next year and drop all the good news in 2045. If this planning worked we would all be wealthy and retired. Just tell the truth to us now, don't allow the Banksters to steal and "we the people" will step up and sacrifice to fix the problems created by the Pharoah's of Wall Street.

    April 28, 2011 at 4:34 pm |
  56. Layne Alleman

    Jack, The "fight" is nothing more than a staged media event, a pack of posturing lawyers running for re-election and handing out sound bites that make them sound as coherent as Donald Duck Trump. What do they care what eventually happens to this country?. They've already put their nest-eggs away, and trust me, they'll be long gone before the collapse. Layne A. Antioch, Il.

    April 28, 2011 at 4:34 pm |
  57. Richard, in Kansas

    more obstuctionism from the christian taliban party.

    April 28, 2011 at 4:37 pm |
  58. riley oday

    I believe they wont raise the limit. They will let it go to some kind of default. There are some in Washington who want to see what will happen.

    April 28, 2011 at 4:38 pm |
  59. Sean in Michigan

    Our country is already at risk. I agree that the two issues should be separate, but I understand the philosophy of wanting spending cuts instead of encouraging more debt. If congress had showed itself capable of fiscal restraint in the past this wouldn't even be an issue.

    April 28, 2011 at 4:43 pm |
  60. Chaz

    The debt ceiling fight will end with the ceiling being raised, but it will come down to the wire, just like the 2011 budget battle. The politicians in Washington are too partisan to do anything other than that. We as a nation need compromise, yet the politicians in Washington refuse to do just that till when it is between compromising and catastrophe.

    April 28, 2011 at 4:45 pm |
  61. Gerry

    My credit cards have a high limit and to get that raised I have to satisfy the lending institution that I can pay the balance off within the time limits that they establish. The idiots in Washington need to subscribe to the same policy.

    Gerry
    Ash Fork,Az.

    April 28, 2011 at 4:46 pm |
  62. Paulette in Dallas,PA

    Forget about reforming Medicare. Just cut ALL of the pork projects in Congress's personal Districts.

    April 28, 2011 at 4:50 pm |
  63. kieffer

    Innovation is the only debt solution. A society based around oppulence cannot inovate because they are complacent. Most of the World has not had wealth thus they are not complacent, they are learning, producing, overcoming. To them our lifestyle is not the enemy but the goal. To the undeveloped world complacency is the enemy.

    April 28, 2011 at 4:50 pm |
  64. Mr. D

    It won't be resolved by Harry going to Maccau and trying to win enough on the tables to cover the national debt.

    April 28, 2011 at 4:51 pm |
  65. David Scott Doherty

    Jack I have a real problem with referring to our borrowing limit as a ceiling, and wish people and the media would start calling it what it is, a debt HOLE. Something that we're never going to get out of if we keep talking about it like it's a good thing. It was just last week on NPR in which the topic was referring to things that are talked about in a elevated way will give the listener a euphoric sense of the topic. I believe the fraise, call a spade a spade fits here.
    Dave from Peterborough NH.

    April 28, 2011 at 4:52 pm |
  66. Sandstone.

    "Well you could try selling some of your land to the Arabs. "Build your Mosqu here," sort of thing. Or selling Chappaties diect from the White House. I can't be serious because 'loose change' Obama, never has."

    April 28, 2011 at 4:53 pm |
  67. Karl in Flint

    Whether they settle it by noon tomorrow or at 11:59pm on May 15th, it will be the same story. The Republicans aren’t going to raise the revenue side by actually taxing their wealthy sponsors or closing tax loopholes on their corporate sponsors and the Democrats aren’t going to cut essential programs, programs essential to everyone but Congressmen. The debt ceiling will be raised after an endless stream of nauseating huffing and puffing from both parties and the can will be kicked further down the road. Mr. O’Neill is right but we keep reelecting the same terrorist over, and over, and over again.

    April 28, 2011 at 5:01 pm |
  68. Suzie Ohio

    Jack,

    Both parties will posture, make outrageous statements to the media, then raise the ceiling with a statement that their side won.

    I truly believe Washington is in gridlock. The gang of six, who are more centrist, should get more press. We need more congressmen who actually use their brain and do what is best for America. Not what is best for the extremes of their party.

    April 28, 2011 at 5:02 pm |
  69. David , Laguna Niguel CA

    Jack,

    If all you are going to do every time the debt ceiling is reached is scream about how the world as we know it will end if we don't raise and then raise it a few more trillion,... why have a debt ceiling at all. By the way, we won' t default, but they will have to starting making serious spending cuts immediately. Maybe they should start with their own staffs, their junkets, the Presidents Czars and their staffs and all the duplicate departments they have created in the last fifty years. That would buy them time to get down to the serious work.

    April 28, 2011 at 5:03 pm |
  70. Shawn in rockford IL

    The debt ceiling should only be raised IF budget cuts are included. Yes they won't be liked and yes they will hurt. If we the voting public have to tighten our belts, then the people who are elected to run this country should have to as well. We, all of us, are in this together. It is high time we start acting like it.

    April 28, 2011 at 5:05 pm |
  71. Annie, Atlanta

    Well, congress either raises it we sink. Their choice, I suppose, but in light of the Paul Ryan Kill Medicare Budget, I'd think twice before playing more games. Did we really think this infantile game playing group, who we pay quite well, was our last best hope?

    April 28, 2011 at 5:09 pm |
  72. Kathie

    both sides will huff and puff then the spineless democrats will cave in to the nauseating unrealistic tea party. The result will be that the taxpayer will lose, big business and the rich will win and the debt ceiling will raise. our country is being destroyed by corporate greed, pork barrel spending, inablity of congress to work together to represent the people who elected them.

    April 28, 2011 at 5:10 pm |
  73. Reggie

    I am not a rich person but it seems that democrats seem to hate anyone who has gone out there, worked their butts off and made some decent money to live a comfortable life. Instead they want to take these peoples money and give it to the ones who have no ambition in life but to sit at home, have multiple children and live off the government. They want to raise taxes even higher to allow these people on welfare to get more rather than encourage them to get themselves out there and start working their butts off too. When this happens then we will not have to raise the debt limit because we won't have these spongers at home collecting our hard earned money.

    April 28, 2011 at 5:10 pm |
  74. Richard C.

    The debt ceiling will be raised because we have to' not because we should. Obama has destroyed the US economy. The only way to keep the country going is to raise it but this just "kicks the can down the road' as they like to say. Let's just give him the title of Emperor which he seems to desire. He is an uncomprising narcissist and we will have to suffer for it.
    Malvern,PA.

    April 28, 2011 at 5:16 pm |
  75. Jane (Minnesota)

    Let's see, I believe it was raised 6 times dur the Bush Admin and anyone treatening NOT too were called un-American. What's different now.............Oh, THAT's right, it's a Democratic Adminstration. I would say not raising it (without any strings such as piling on any additional pork or social issues) is still un-American.

    Deal with the budget/social issues as separate issues – oh children that we elected!

    April 28, 2011 at 5:16 pm |
  76. Gigi Oregon

    It's time for the Republicans to grow-up and learn to do what is "right" and not run around with their fingers in their ears. You can not sustain a government on the countries poor and middle class paying the bills and borrowing from the rest of the world to run a country. They simply must become responsible. The people are not getting a good image in their minds concerning the Republican Party. They are getting a reputation of being greedy, arrogant, selfish and foolish. Being more concerned with birth certificates, than running a sound government. Even with some Republican agreeing to raise the debt ceiling John Boehner is acting as the above description leading out with arrogance...

    April 28, 2011 at 5:20 pm |
  77. Gman

    that's easy Jack....With smoke and Mirrors"....

    April 28, 2011 at 5:20 pm |
  78. Kirk (Apple Valley, MN)

    Oh it will be resolved, but not until the 59th minute of the 11th hour and the Democrats will give away the farm. In the end, increasing the debt won't matter one iota. The GOP/Tea Party will continue to fight for their personal issues of abortion and gay marriage and do nothing about what they were voted into office to do, CREATE JOBS!! The only thing the GOP/Tea Party is doing is making sure there are no new jobs being created while giving their already super-rich friends even more money off our sweat.

    April 28, 2011 at 5:20 pm |
  79. Scott Stodden

    Jack I Always Have Hope That Washington And The Lawmakers Will Make The Right Decisions And They Better Because If We Don't Raise The Debt Ceiling It'll Be John Boehner And The Republican's Fault.

    Scott Stodden (Freeport,Illinois)

    April 28, 2011 at 5:21 pm |
  80. Kevin from Montebello, California

    On the backs of the working and the poor. There will be a lot of bluster about the wealthy not making any sacrifices but nothing will be done.

    April 28, 2011 at 5:21 pm |
  81. April, Iowa

    I don't see the debt ceiling debate being resolved. I think Republicans are going to refuse to lift the debt ceiling unless they get changes Democrats are unwilling to give. It's all a big game of chicken and the American people are paying the fine. I don't see anything good coming out of this debate but I usually don't see anything positive coming out of Congress anyway.

    April 28, 2011 at 5:22 pm |
  82. David Gilberti

    Hopefully, the administration will give a little and the Republicans will get a little and all will be dissatisfied but put a good spin on it. Isn't that what happened last time?

    April 28, 2011 at 5:22 pm |
  83. Ken in NC

    If it is resolved, Democrats, Tea-Publicans and Trumpublicans will all takeresponsibility for getting it done.

    If it's not resolved, those same groups will be thankful for the 10 fingers they will used for pointing.

    April 28, 2011 at 5:22 pm |
  84. Herb

    Bottom line is we are doomed. The democrats will continue to spend and all the Rebulicans can do is say...I dare you ...

    April 28, 2011 at 5:23 pm |
  85. Dale

    The best way to resolve the bebt crisis is to have the 535 members of congress to stay home and let us send 535 new members who really care about the country.

    April 28, 2011 at 5:24 pm |
  86. Rahat

    US is already tangled in 2 major wars n now again Bombing places in Libya !! Do people really not think that its high time to scrap off their old foreign policy of spending billlions for other countries which has nothing to do with the US . Save money on Foreign policy so that they can pump it to the feds and try to cut down the NAtional Debt n resolve such issues .

    April 28, 2011 at 5:24 pm |
  87. robin from Kansas

    we've got to get this under control. Repeal last year's tax cuts for everyone and reduce spending across the board at least 10%. Don't think we can spend our way out of this mess.

    April 28, 2011 at 5:24 pm |
  88. jimmiek

    Well.. probably the only way it can be... by ordinary citizens banding together and demanding... demanding ... that Congress... Congress, not the Rep, not the Dems, and not the Tea Party.... but Congress.. .and the President get their act together and DO THE PEOPLES business.... period.. full stop...

    Perhaps we should start exercising the RECALL process to start throwing these self centered misfits out of office... till they figure out that there job is to do the business of the people.... NOT GET RE-Elected...

    How... well...the same way the Egyptians, the Tunisians, and hopefully the Lybians did it..... people power.... and a bit of facebook...

    April 28, 2011 at 5:25 pm |
  89. Rick Slater

    Jack,

    Big business tells legislators what laws to write. What makes anyone think they won't make Congress raise the debt ceiling. For far too many years now our government has represented the needs of major corporations over the people. They aren't about to stop now.

    April 28, 2011 at 5:25 pm |
  90. Greg Scalise

    If both parties would act as adults they would vote on the one issue and not tie anything and everything to this important issue, but why start now, one party would like to bring our country to it's knees , purely for political reasons and to help the wealthy.

    April 28, 2011 at 5:25 pm |
  91. Mike Veschi

    Should be as easy as letting the bush tax cuts expire and getting out of Lybia/Iraq/Afganistan ect. ect. ect. Stop Warfare not Welfare, Also forgien aid, Egypt Should have shed lite on how we waste money in foriegn aid, and the two facers that wanted to help Lybia now want the leader dead. Stop The Pentagon which becomes 2/3rds of the budgets. We don't need to stop feeding people just stop killing them. And get the banks to pay tax , stop the loop hole in the Tax code for corporation, and actually enforce collections on Wall St. Also look up the Robin Hood Tax plan. All without ever touching what people need just stop the waste and mean it!!

    April 28, 2011 at 5:25 pm |
  92. Stephen Charchuk

    Like always, through republican extortion. The right-wing has never fully accepted the democratic process and have fought to supersede whenever they could. Remember, they're the ones who wanted to replace the British King with one of their own after the Revolution. America is a failed experiment.

    Yarmouth, NS Canada

    April 28, 2011 at 5:26 pm |
  93. Doug Ericson

    If Speaker Boehner and Majority Leader Reid can agree on a debt ceiling plan, then there will be one, because they both can come up with enough votes togeather, to walk around the Tea Party members. I believe they will raise the debt ceiling, and tax anything that moves and doesn't move to pay for it. I think they will add some fake spending reductions too. Doug.

    April 28, 2011 at 5:26 pm |
  94. len

    ok jack here goes
    Republicans: Put your hands up this is a robbery i want everything in your pocket even the shoes on your feet and the cloth on your back as a matter a fact i want your children's future and grand ma's Medicare for good measure.
    Democrats: ???????
    the public: we didn't ask for this but we elected a congress that does not i repeat does not have our interest at heart. the republicans will be the demise of the Great United States of America.

    April 28, 2011 at 5:26 pm |
  95. John Brink

    Wow that's a tuff one..........mmmm.......ok how about this one.... compromise, raise taxes and reduce cost!

    April 28, 2011 at 5:26 pm |
  96. Dario, Dallas

    This will be resolved simply like all our other problems, with the politicians getting what's best and in their own self imposed interest. We will continue to increase our debt because we have mistakenly come to an epiphany that printing more currency is the solution to everything. Meanwhile we'll make budget cuts in transportation, while exxon reports quarterly profits. We'll make cuts in medicaid in social security ensuring to enslave our middle class to the selfish decisions our government continues to make.

    April 28, 2011 at 5:26 pm |
  97. Jeremy D from Michigan

    The Republican's only made huge gains in the last election because of the Democrats outrageous spending.Yes, one can say that Republican's two wars cost more, but clearly the American people saw a difference. Some Republicans will play games, like both sides always do. Some Republicans will feel it as their duty to stand their ground and not support raising the debt ceiling over their political beliefs. Hopefully, others will see there is no other option but to raise the debt ceiling at this point. Hopefully, both sides will not just "kick the can" to the next generation, like so many previous generations have done. If they are worried about hurting people, they should realize we are already hurting. The rich are getting richer, and the poor are getting poorer.

    April 28, 2011 at 5:26 pm |
  98. Deborah Seibert,. Co

    The democrats are going to have to bite the bullet and cut some social programs. Holding the debt ceiling hostage is the only way to get their attention.

    April 28, 2011 at 5:27 pm |
  99. Veteran_Lender

    We resolve the Debt Ceiling Issue by illuminating who owns the debt notes. Not macro- like "China" but what institutions and where those customers live. You and I will find– that most holders of that debt are our own BANKS and fueled originally by our own TARP monies! It's true... China offers a higher return so our own BANKS invest client money in THEM instead of us. The BANK clients? They are the execs that laid us off and sent our jobs over to China in the first place.

    I say- let's DEFAULT and not raise the Debt Ceiling. I also want John Boehner to go away.

    April 28, 2011 at 5:27 pm |
  100. Hugh

    Both sides will eventually realize that there is no solution without having more contributions (higher taxes) from the leisure class. But first, both sides must agree that the working poor and the lazy class are not one and the same. Too many Democrats turn a blind eye to these freeloaders while most Republicans classify them indiscriminately with the working poor. They are not the same and we need to call them out with stronger testing for qualifications.

    April 28, 2011 at 5:28 pm |
  101. Jim D

    They have no choice on this vote. The debt ceiling absolutely must be raised, lest the US risk default on its debt payments. So what, some people will ask. The defaults will eliminate any value to your savings bonds, T-Bills, etc etc. It would make the economics of the past 4 years, look like a favorable economic climate.

    Far rightwingers will scream about deficit spending and increased debt, yet they favored the extension of the Bush Tax Cuts for the upper tier incomes. Those lost revenues, are now being felt in a reduced liquidity. Congratulations, the fat cats got fatter and joe blue-collar lost his home in foreclosure. Good call.

    Hopefully the Democrats will have grown a pair and will yield absolutely nothing to the Rightwing "me first" lunatics and DARE them to ruin the nations already weak economy with "no" votes on this issue.

    April 28, 2011 at 5:28 pm |
  102. Mike in Ohio

    I'm proud that our district here in West Central Ohio has Rep. Jim Jordan representing our interests by holding out against considerable pressure to raise the debt limit. He's one of the few in Congress who is truly tuned in to the nation's growing frustration with out-of-control spending.

    April 28, 2011 at 5:28 pm |
  103. The Cold Civil War in Shoreline, WA

    This is just another bipartisan effort to pull the wool over the eyes of the American people. They invent these phony debates to divide Americans and make us view our neighbors as enemies. Meanwhile, they work behind closed doors to sell us out to China. If we are too busy arguing about abortion, gay marriage, and the debt ceiling...We don't notice our true enemies: The people who say they must tap our phones and computers, and lie to us 24/7 in the name of national security to keep us safe.

    There is no question and this is a foregone conclusion: The debt ceiling will be raised. The Repocrats present spending plans that will double the deficit by 2025. They have to raise the debt ceiling in order to meet their insane spending plans.

    April 28, 2011 at 5:28 pm |
  104. Dean (Modesto)

    I don’t know –what- to think about the Debt Ceiling. I –do- feel that whoever came up with the concept of loaning money at mandatory interest –should be shot, (if they weren’t dead already). I never felt good about borrowing money from anyone. Borrowing always means obligations and the big compromise of your integrity. Unfortunately, these are things that our current politicians excel at.

    April 28, 2011 at 5:29 pm |
  105. Michael in Albuquerque, NM

    A depression is caused by lack of money in the system. That is the story of my life, sigh...But, charging more on my credit card never resolved it. First, the banks that recieved TARP bailouts must loan that money out, not gamble it in derivitives markets. Second, make the corporations pay their taxes. Third, raise the S.S. cap from $106,000 to all income. Fourth, cut the private military contractors. Fifth, tell John Biener to stuff it where the sun don't shine, and raise revenue off the rich.

    April 28, 2011 at 5:29 pm |
  106. Graham - Los Angeles

    It's sad that we're waiting to see how it's resolved instead of telling congress how to resolve it. What happened to the voice of the people? We can get tens of millions to vote on Dancing with the Starts or American Idol but we can't seem to get them to vote on their future. Maybe we should turn this country into a giant reality show so that people will actually tune in.

    April 28, 2011 at 5:29 pm |
  107. Linda in Arizona

    "If Congress doesn't agree to raise it, we could default on our debt obligations and that would have devastating effects on the markets and this economy."

    The operative word is "could". Not raising the debt ceiling does not guarantee we will default on our debt, as I'll bet you know already. How will it be resolved? Let's see... Republicans will threaten, and obama and the Dinocrats will cave without gaining a thing. That's a foregone conclusion.

    April 28, 2011 at 5:31 pm |
  108. William Cahill

    I think we should dump the Bush's tax reduction for the wealthy. That alone would significantly reduce the debt by about a third anually. We should also get rid of the farm subsidies, and the tax breaks for oil companies. Republicans say we don’t have a tax problem, only a spending problem. During WW 2 the wealthy paid higher taxes and were proud to do their best to help the war effort. We are at war now with a tremendous debt brought on by President Bush. Anyone who is against paying taxes in a time of need is totally un-American.

    April 28, 2011 at 5:32 pm |
  109. DT

    Jack,
    If mature adults were involved the debt ceiling would be raised without discussion. It's has nothing to do with the upcoming budget. We owe what we owe. If we have any character we will live up to our commitments. No questions asked.
    Then you sit down like mature adults and hammer out how to create a budget that turns the problem around. The whole discussion of linking the two is an attempt to use blackmail politics and is stupid. I guess that what you do when you are not smart enough to be a creative thinker!

    April 28, 2011 at 5:32 pm |
  110. Deb

    The debt ceiling will ultimately be raised, at the last possible second, but not before the Republicans currently in office make their final blunder to threaten the world financial structure as we know it by making idle threats not to raise it unless _____(you fill in the blank with their latest cause ) . I do believe we will see many of them replaced in 2012, not only over this issue but over their proposed budget, which I do not believe will ever pass let alone be signed by the current President. WE THE PEOPLE are the biggest losers/fools to ever believe that those that we vote into office are there to represent us, they have yet to show it. I used to be a Republican, am now an Independent as I do NOT stand for what these lunatics stand for.
    Deb
    Maryland

    April 28, 2011 at 5:32 pm |
  111. Tony From Stoney Creek

    There is a very easy solution to the debt ceiling problem and every other big problem the US has(Healthcare, Deficit, Pensions, Budgets, etc) All you have to do is apply the solution that was given to the stock market and just like magic everything else would be solved!!

    April 28, 2011 at 5:34 pm |
  112. Brian (From Chicago)

    There should be an Controversial Apples & Oranges bill Jack. Where controversial social issues cannot be mixed with the annual budget, and contriversial entitlements cannot be mixed with the National Debt. All controversial issues will have to be pulled out of major legislation. We should also have stand alone legislation on things like the Debt Ceiling and Medicare.

    April 28, 2011 at 5:34 pm |
  113. Jim

    Jack,

    I don't seem to remember Republicans being quite so militant about the debt ceiling when Bush was throwing tens of billions away on a goofy, useless war in Iraq, or when it came time to talk about tax cuts for the wealthy. They're getting an earful now at town hall meetings from folks who are fed up with their phony posturing. They'll cave and approve a new debt ceiling. If they don't, 2012 will be even more fun for Democrats.

    Jim
    Reno, Nevada

    April 28, 2011 at 5:35 pm |
  114. Claudia, Houston, Tx

    There will be several rounds in the debt ceiling fight but the final knockout blow will be to the American people. Both sides will blame the other and distort the truth for their own political gain.

    April 28, 2011 at 5:35 pm |
  115. Jeff in Bishop, Georgia

    Mr. Cafferty, it's simple math... deep spending cuts HAVE to be made, and done without delay. This deficit spending has exponentially accelerated under the obama administration is unsustainable, and we, as a republic, are on a path to financial ruin. It almost makes me wonder if it is intentional with the extreme leftists in the executive and legislative branches.

    April 28, 2011 at 5:36 pm |
  116. Nathan in MN

    They eventually will raise it so I think they shoud leave the drama out of doing what is needed, They're wealthy wall street pals won't let them toy with this any longer than they can get away with so the markets don't go into a panic. Unfortunately most Americans have zero concept of economics so polls show that your average american says let them default. People have NO idea what kind of a recession this would cause, possibly depression. Get an education Idiots!!!

    April 28, 2011 at 5:36 pm |
  117. sal

    The debt ceiling will be raised and extended in exchange for token, minor budget cuts to appease the Republicans and the Tea Party (just like the recent budget agreement, which, despite all the hoopla and congratulations reduced federal spending by a paltry $315 million). And so the problems (out-of-control public spending, burgeoning budget deficits, and exploding public debt) will be postponed until the next financial crisis, which will likely precipitate into a sovereign debt default and a major economic collapse the likes of which we have never experienced. The U.S., however, is too big to bail out, and so the resutling economic and social problems (including probably civil unrest) are too frightning to think about. This is government failure on the grandest scale. I am not hopeful.

    April 28, 2011 at 5:39 pm |
  118. Harlan Capin

    Satisfy the "Tea Party" by bringing that business genius and real estae mogul The Donald" Quack Quack" Trump into the discussion.

    April 28, 2011 at 5:41 pm |
  119. Rick McDaniel

    The ceiling will be raised, we will move ever closer to total insolvency, and Obama gets to squander even more of the country's money.

    April 28, 2011 at 5:41 pm |
  120. Robby Bowling

    Why would parasites that make millions of dollars under the table do anything to solve any problem. They don't & they wont, they'll just play crooked accounting games and do what they do best, nothing meaningful. What would happen if I went to MasterCard & asked for a dept increase & I'm already borrowing 40 cents om the dollar. They either cancel the card or REDUCE the limit. Our golden goose is cooked.

    April 28, 2011 at 5:42 pm |
  121. Laura

    It will be passed when it comes down to the wire after both side put out their spin saying how wrong the other side is. My bet is the Republicans get some token promise on spending limitations & they vote yes for fear that all the promised gloom & doom if they don't might actually coming to pass. They know they will be blamed by the White House, senate democrats, & the media. They don't have the bully pulpit.
    Laura
    Hawthorne, CA

    April 28, 2011 at 5:43 pm |
  122. Tim Hamilton

    By all sides acting like grown ups and not attaching demands for an issue that is necceassary to increase regardless of how you move forward. The deficiet spending is not going to get under control in the near future and all parties need to get serious.This means all aspects of goverment need to be reviewed and especially a military budget at almost 1 trillion. I think the American people should vote on a 10% to 30% decrease on salaries for all goverment jobs untill spending is balanced and reduce all the benifits.

    April 28, 2011 at 5:44 pm |
  123. Troy Kemp

    Do not increase the debt ceiling. Printing more money is not a solution. Stop Social Security for anyone with a net worth greater than a million dollars. Stop playing party politics and do what is best for the country. Realize that the 2010 elections were only a start. We could care less which network backs which candidate . We will vote for those who put the people they represent first.

    April 28, 2011 at 5:45 pm |
  124. Tonie from OK

    The debt ceiling will be raised like it always has. Why are the GOP Adm all of a sudden worried since it was raised seven times under Bush.

    They need to stop the games and raise taxes on the top 1% or on all back up 3% and close the loopholes for businesses.

    April 28, 2011 at 5:45 pm |
  125. Ray in Knoxville

    Jack, the Dems will cave and offer up another few million poor people for the slaughter.

    April 28, 2011 at 5:46 pm |
  126. Randy

    Some of these Republican "Tea Party" activists along with their congressional members are downright irresponsible. Hard to say if they are uninformed or choose to be that way. They want to stop the raising of the debt ceiling, even if it risks financial collapse. Who knows if some of them can grasp what it would do to the bond market or the interest rates in the near future, not to mention the stock market with 401(k)s investments. The Debt is important, but collapsing the financial market won't help solve it.

    April 28, 2011 at 5:47 pm |
  127. PC

    We want to see the budget balanced starting 2012, but NOT by destroying us, the economy, and our 401K's in the process by voting against raising the debt limit and instigating another liquidity crisis. That's not the right place for the coming budget battle. Some irresponsible people in Congress are threatening to destroy us: the patient is sick with a virus, and their solution is to "nuke" the patient. We deserve better in Washington. Pass the increase in debt ceiling, then require a balanced 2012 budget by a combination of massive cuts and some taxes.

    April 28, 2011 at 5:49 pm |
  128. Timothy Fagan

    The only sure thing is that the lower 95% of the American people are voiceless and powerless. Our Governmental institution shows all the signs of Greed Addiction. Denial, Justification, secretiveness etc. They can't stop by themselves. HIGHER POWER PLEASE HELP US!! NOW!

    April 28, 2011 at 5:53 pm |
  129. Mary Steele Yorktown VA

    Kick out the Democrats and get down to business! We have been floating too many people and we are BROKE!

    York VA

    April 28, 2011 at 5:55 pm |
  130. oscar De leon

    of course the republicans will do what they have been doing since Obama took office, do everything in their power to oppose him. For those of us who have live through government corruption in third wold contries, the current state of the US government seems very familiar... Welcome to third world America...

    April 28, 2011 at 5:56 pm |