House Republicans Don't Want to Face the Heat of a Debt StandoffThe Paralegal Resource
February 6, 2014 — 934 views
The looming deadline at the end of this month, has caused House Republicans to seek meager concessions to push the debt ceiling and now they are looking at using their political edge to leverage other issues.
The Republican's Strategy
When compared to 2011, the situation is a stark contrast as a majority of House Republicans dove in to a debt standoff, which downgraded the credit rating of the nation drastically. They had to then bare the brunt of the public for the downgrade in the ratings. The new approach from the Republicans shows the fading influence of unyielding conservatives, apart from their concerns about political wounds that could affect mid-term elections.
Republican leaders have suggested that they don't want to risk the chances of a government default, saying they will back off, if pressured, even from the most modest conditions. Speaker, John A. Boehner, warned them saying, they may have to make do with a "clean" rise in the debt, if they don't arrive at a proposal unitedly, when it can be passed without any votes from the Democrats. The GOP leaders are looking at using must-pass legislations on debt limit to put the Democrats under pressure, through proposals that are a lot less divisive, which can turn out to be tougher to oppose during elections. The Fedral government loses its authority to borrow more on Friday. Jacob J. Lew, the Treasure Secretary, said that the government could try evading the bills for a few weeks, but will need to face it by the month's end unless the Congress stepped in to raise the borrowing authority.
How the Discussion Went
After the recent discussion, lawmakers said that they emerged with a common recognition, that the proposal should be way more modest than it has been uptil now. The leaders were seen to be measuring support for the option of slashing Obamacare provision, so as to shield insurers from any losses, for raising a year's debt limit. Sen. Marco Rubio and Griffin have sponsored a bill named the Obamacare Taxpayer Bailout Prevention Act, for the same purpose. But the option was complicated as an estimate arrived from the Congress Budget Office, which predicted that the federal government could get over $8 billion in a decade's time, from the provision that the Republicans are looking at striking. But a leadership aide denied the effect of the findings on the debate as the part's projections clearly showed how slashing the program can ease out costs.