With Social Security and interest payments about to come due at the end of December, President Obama has already used up the $900 billion debt limit increase he won in August and will ask Congress to raise the debt limit by another $1.2 trillion this Friday.
When Congress raised the debt limit earlier this year, a provision was included for a second near-automatic raise at a time of Obama’s choosing. Congress can stop Obama’s second debt limit hike by passing a “resolution of disapproval” with in 15 days of his request, but the House is out of session until January 17th and the Senate is out till the 23rd. Does anybody doubt that Obama’s timing of the latest request assures no such resolution will be approved?
Commenting on the news, RedState‘s Daniel Horowitz calls the debt limit deal “the most insane capitulation of the year” explaining: ” That was our opportunity to extract transformation concessions from Obama in return for the ability to issue more debt. That was our time to push for Cut, Cap, Balance, or at the very least, a plain balanced budget amendment.”
The Washington Post (Washington’s year of drama leaves little done regarding debt) and Talking Points Memo (The GOP’s Year Of Living Dangerously: What Did Its Hardline Strategy Produce?) both also have critical reviews of the House’s efforts to transform Washington this year. But all three of these pieces miss the larger picture. Writing in The Weekly Standard, Yuval Levin takes a broader view of what the House was facing, and what they accomplished so far:
Republicans won big in 2010. But it was jut one election, and not even a presidential one at that. Considering the small amount of leverage they did have, conservatives had a strong, but not perfect, year policy wise. If they want to really reverse, and not just slow, Washington’s big spending ways, they are going to have to win some more elections.
Around the Bigs
USA Today, Federal workers’ pay gains slow: Despite a partial pay freeze, federal worker pay grew faster than private sector pay last fiscal year.
The Washington Examiner, Occupy DC planning major January demonstration: Occupy DC is planning a January 17th “Occupy Congress” “action” that will include sit-ins at congressional offices and blocking traffic at intersections.
The Wall Street Journal, Housing Imperils Job Gains: New S&P/Case-Shiller Home Price Index data released Tuesday showed home prices in 20 major metropolitan areas fell 3.4% in October from the previous year. Low home values make it harder for workers to move from high-unemployment states like California, to low-unemployment states like Texas.
The New York Times, Iran Threatens to Block Oil Shipments, as U.S. Prepares Sanctions: Iran’s first vice president, Mohammad-Reza Rahimi, threatened to block all oil shipments through the Strait of Hormuz, if the United States follows through on its threat to impose further economic sanctions on Iran.
The Wall Street Journal, Democrats Lag in Voter Registration: According to new data from Catalist, a leftist activist group devoted to increasing Democratic voter registration, Republicans are now beating Democrats in new voter registration. In 2008, Democrats had a 2-to-1 advantage.
Campaign 2012
Iowa: Public Policy Polling‘s latest Iowa poll shows no change from last week, with Ron Paul in first with 24%, followed by Mitt Romney at 20%, Newt Gingrich at 13%, Michele Bachmann at 11%, and Rick Santorum and Rick Perry at 10%.
Romney: Asked by a reporter about Newt Gingrich’s failure to get on the Virginia primary ballot, Mitt Romney responded: “I think he compared that to … Pearl Harbor. I think its more like Lucille Ball at the chocolate factory. So, I mean, you know, you gotta get it organized.”
Gingrich: Following up on yesterday’s Wall Street Journal article noting a 2006 memo in which Newt Gingrich supported the individual mandate, BuzzFeed posts a 2008 video showing Gingrich again supporting the individual mandate.
Perry: Rick Perry communications director Ray Sullivan announcedthat the campaign will file suit against Virginia in federal court over the campaign’s failure to get on the March primary ballot. “We believe that the Virginia provisions unconstitutionally restrict the rights of candidates and voters by severely restricting access to the ballot, and we hope to have those provisions overturned or modified to provide greater ballot access to Virginia voters and the candidates seeking to earn their support.”
Nebraska Senate: Sen. Ben Nelson, D-Neb., decision not to run for reelection next year greatly bolsters Republican hopes of picking up his senate seat.
Righty Playbook
Power Line‘s John Hinderacker says, “It is time for Republicans to get serious,” and endorse Mitt Romney for president.
The Washington Examiner‘s Michael Barone says voters want economic growth, not income redistribution, this election year.
The Heritage Foundation‘s Hans von Spakovsky details Attorney General Eric Holder’s flawed decision to block South Carolina’s new voter registration law.
Lefty Playbook
The Washington Monthly‘s Steve Benen guesses that Mitt Romney is refusing to release his tax returns because, thanks to “carried interest,” he is probably paying a far lower tax rate than most Americans.
The New Republic‘s Jonathan Cohn defends the individual mandate.
Digby bids “good riddance” to Ben Nelson.
