The Next Hostage Crisis

OK, it seems pretty safe that the budget deal to prevent a government shutdown will go through next week.  Most of us are using Preparation H to treat the after effects, but we can at least enjoy a temporary respite, right?  If you believe that, send me your credit card numbers and pins!  Republican terrorists have already planned to take hostages again, and there is no time to rest.

The down-to-the-wire partisan struggle over cuts to this year’s federal budget has intensified concern in Washington, on Wall Street and among economists about the more consequential clash coming over increasing the government’s borrowing limit.

Congressional Republicans are vowing that before they will agree to raise the current $14.25 trillion federal debt ceiling — a step that will become necessary in as little as five weeks — President Obama and Senate Democrats will have to agree to far deeper spending cuts for next year and beyond than those contained in the six-month budget deal agreed to late Friday night that cut $38 billion and averted a government shutdown.

Republicans have also signaled that they will again demand fundamental changes in policy on health care, the environment, abortion rights and more, as the price of their support for raising the debt ceiling.

In a letter last week, Treasury Secretary Timothy F. Geithner told Congressional leaders the government would hit the limit no later than May 16. He outlined “extraordinary measures” — essentially moving money among federal accounts — that could buy time until July 8.

Once the limit is reached, the Treasury Department would not be able to borrow as it does routinely to finance federal operations and roll over existing debt; ultimately it would be unable to pay off maturing debt, putting the United States government — the global standard-setter for creditworthiness — into default… [emphasis added]

Inserted from <NY Times>

I have said it dozens of times before, and I will say it again.  Giving in to terrorists when they take hostages only encourages them to increase their demands and take more hostages.  That’s how Republicans started at $30 billion and got $39 billion.  Democrats need to establish a line, and start negotiating far to the left of it, but refuse to cross it no matter what the terrorists threaten.