Sunday, December 9, 2012

David Edwards — Sen. Corker: Debt ceiling is Republican ‘leverage’ to cut ‘entitlements’

Sen. Bob Corker (R-TN) says that his party should agree to raise taxes on the wealthy before January because Republicans can force cuts to earned benefits like Medicare and Social Security next year by holding the debt ceiling hostage.... 
“The shift to focus in entitlements is where we need to go,” the Tennessee Republican added. “And again, it’s a shame that we’re not just sitting down and solving this, but Republicans know that they have the debt ceiling that’s coming up right around the corner and the leverage is going to shift as soon as we get beyond this issue.”
Corker pointed out that Republicans could use the debt ceiling to “do the same thing we did last time.”“If the president wants to raise the debt limit by $2 trillion, we get $2 trillion in spending reductions. And hopefully this time it’s mostly oriented towards entitlements,” he insisted.
The Raw Story
Sen. Corker: Debt ceiling is Republican ‘leverage’ to cut ‘entitlements’
David Edwards


Anonymous said...

Entitlements? How about government deposit insurance and the legal tender lender of last resort? How about the monetary sovereign paying needless interest on the money it creates?

We should make the bank lovers sorry they ever mentioned "entitlements".

Tom Hickey said...

"Entitlements" is neoliberal framing. Chris Hayes suggests using "social insurance" instead.

googleheim said...

And no one talks about how the republicans gave ample "entitlement" to Chinese products to enter our market when the Republicans starting with Nixon in China have always coddled them.

No mention of China hoarding our currency, but heaps of lies stating that we are borrowing their Yuan - as if there is enough Yuan to cover.

Mike Norman said...

Corker: Why do you need to raise the debt ceiling if you get an equivalent amount of spending reduction?

He doesn't make any sense.

Matt Franko said...

I like turning it around and calling it "guarantees"... rsp,

paul said...

Warren Mosler today calling for $2000 minimum S/S payments and zero FICA taxes…I like that, gives me an instant raise.