{"id":4608,"date":"2011-04-18T04:48:15","date_gmt":"2011-04-18T11:48:15","guid":{"rendered":"http:\/\/www.politicsplus.org\/blog\/?p=4608"},"modified":"2011-04-18T04:48:15","modified_gmt":"2011-04-18T11:48:15","slug":"its-hostage-taking-time-again","status":"publish","type":"post","link":"https:\/\/www.politicsplus.org\/blog\/2011\/04\/18\/its-hostage-taking-time-again\/","title":{"rendered":"It’s Hostage Taking Time Again"},"content":{"rendered":"

Next month, our government will reach the statutory ceiling on our national debt.  New spending aside, the treasury will have to borrow to pay the interest on existing T-Bills, and if they can\u2019t, the US will be in default for the first time in history.  The effects on our economy would be horrid at best, so it should come as no surprise that Republicans are using this as a opportunity to renew their terrorist tactics and take our credit standing hostage to transfer more wealth from the poor and middle classes to the rich.  I am absolutely certain that Republicans will cave-in if their disingenuous scheme fails.<\/font><\/p>\n

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\"18west\"Republicans have, for months, been laying out various demands that they want in exchange for voting to raise the nation\u2019s debt ceiling, even though failure to do so would have widespread and disastrous consequences<\/a>. Treasury Secretary Tim Geithner estimates that the country will reach its legal borrowing limit around May 16<\/a>.<\/p>\n

Calling it a \u201cleverage moment<\/a>,\u201d some of the demands Republicans have cited are a balanced budget amendment to the Constitution and various versions of spending caps<\/a> or cuts. Today on ABC\u2019s This Week, Rep. Allen West (R-FL) added one more demand to the list \u2014 cutting the corporate tax rate in half\u2026<\/p>\n

…Watch it:<\/p>\n