Jack Lew hit the air waves today talking on four Sunday shows: ABC, CNN, Fox, and NBC. In each appearance, he argued that the debt ceiling should be raised without negotiations.
Sound familiar? It’s been the same argument ever since the Republicans stopped automatically signing off on debt ceiling increases. Yes, this is the same time Mr. Obama became president.
The 2011 and December 2012 last minute agreements and giveaways in pork continue to influence the economy. In this latest round of “I hate the President,” The Democrats want to end the sequester which has slowed the growth of government spending on select programs while the Republicans wish to cut more spending. The Democrats do not say why more money is needed and Republicans have never stated which programs should be cut.
Sidebar: Republicans argue that they are the less government party but continue to add legislation at the state level regarding bedroom issues. But never fear, the party suggesting that they are liberal argue for more government and less freedom.
Expect the rhetoric to continue to grow as the September 30 deadline approaches. The US government is already operating on continuing resolutions and according to Mr. Lew extraordinary measures are being used to pay bills.
A government shutdown threat can dampen consumer confidence which has been picking up steam.