New battle over debt limit inevitable? - CBS News
And I give you what our political debate between the President and Romney should be. We need tax reform and spending reform quickly.
Depends on the elections.
1) Obama wins, and regains the House and keeps the Senate. Senate GOP will use Senate rules to block every piece of legislation and appointment they can.. they have been doing it for 4 years, so why not continue. Of course if Dems in the Senate get 60+ seats, then stuff could in theory happen...
2) Obama wins, GOP holds the house and Dems keep the Senate. .... same as we got now, utter gridlock and cluster****.
3) Obama wins, GOP takes house and Senate. GOP tries to ram through massive cuts but Obama either says no, or the Dems in the Senate use GOP tactics to filibuster everything for 4 years. This will go on for 2 years, and then the House will flip back to the other side.
4) Romeny wins, GOP holds house, but does not take Senate. Senate Dems do what the GOP has done in the last 4+ years.
5) Romney wins, Dems take the house, GOP takes the Senate. House holds up everything to prevent the GOP hack and slash policies.
6) Romeny wins, Dems take both house and Senate. Romney is screwed and can only veto stuff that the GOP does not manage to block in the Senate with their usual tactics.
7) Romeny wins, GOP takes both house and senate... but not with 60+ seats.. Dems revert to GOP tactics... if the GOP does get 60+ seats.. then frankly... nothing happens either.
I just dont see the GOP gut the American federal system on spending, since they get much of their funding from corporations that are dependent on that spending!
Basically... you all are screwed thanks to your political system.
Only way anything will get done.. is if either side wins absolute majority in the house and senate (60+ seats), and the White House.. and even then it is not a done deal.
So yes, there will be another cluster**** on the debt limit, and yes everyone will be held hostage with maybe a shutdown, and both sides will blame each other.... and in the end, the deficit limit will be raised, with symbolic changes to spending.