Democrats in the Senate have stated the House debt limit bill is a non starter because it includes a requirement for a Balanced Budget Amendment. The link is to an ABC News article explaining the Democrat’s objections.
Among the objections were that if there had been a BBA in effect in 2008 and 2009, the economy would have tanked because they would not have been able to pass TARP and the Stimulus. Perhaps what they haven’t considered is the idea that if there had been a BBA the economy would have been healed by now because we would not have added close to two trillion in debt. If there had been a BBA last year, there would be no ObamaCare because it would have become immediately evident that it was both wasteful and unsustainable.
The best thing the Senat can do to regain some of the credibility they lost by tanking the Ryan bill and the original House bill. Conservatives, particularly those in the “Talk Radio Nexus” are very shrill about the ineffectitude of the Boehner plan. Maybe the objection of those most vocal people on the Right will give the bill some momentum in the Senate. But as we reported earlier, Senator Reid, the Majority Leader has adopted an Obamaesque approach: “Mine is the only compromise.” Stay tuned.