Shows & Panels
- AFCEA Answers
- Ask the CIO
- The Big Data Dilemma
- Carrying On with Continuity of Operations
- Connected Government
- Constituent Servicing
- Continuous Monitoring: Tools and Techniques for Trustworthy Government IT
- The Cyber Imperative
- Cyber Solutions for 2013 and Beyond
- Expert Voices
- Federal Executive Forum
- Federal IT Challenge
- Federal Tech Talk
- Mission-critical Apps in the Cloud
- The Path from Legacy Systems
- The Real Deal on Digital Government
- The Reality of Continuous Monitoring... Is Your Agency Secure?
- Veterans in Private Sector: Making the Transition
Shows & Panels
House Democrats want to repeal debt ceiling
Wednesday - 1/16/2013, 11:59am EST
WASHINGTON (AP) - House Democrats are pushing legislation to repeal the federal debt ceiling, saying the borrowing limit has no practical purpose and has come to be used for political maneuvering that can have devastating economic repercussions.
New York Rep. Jerrold Nadler said the debt ceiling is arbitrary, doesn't affect the deficit and has become a Republican means to "blackmail" the country to advance the GOP's political agenda.
President Barack Obama earlier this week said he would not negotiate with Republicans over the debt ceiling, saying talks on spending cuts should be separate from raising the $16.4 trillion debt ceiling and averting a possible first-ever national default.
The debt ceiling has been in place since 1939. The Treasury says it will run out of borrowing power in mid-February to early March.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)