Harry Reid: GOP's Weekend Off May Cause Catastrophic Default

WASHINGTON -- House Republicans are setting up a catastrophic U.S. default by deciding to take a weekend off while time to resolve deadlocked negotiations ticks down to a close, Senate Majority Leader Harry Reid (D-Nev.) said Thursday.

With just 11 days until the United States can no longer borrow fresh money -- and will have to start letting bills go unpaid -- Reid and Democratic policy boss Sen. Chuck Schumer (D-N.Y.) took to the Senate floor to express shock at the House for quitting for a couple days.

"It's hard to comprehend how the United State House of Representatives, at the height of this fiscal crisis has decided to take the weekend off," Reid said, suggesting it was a way for the GOP leaders to give in to the extreme wing of the party that wants a default, without actually appearing to do so.

Reid noted that Senate rules allow any senator to slow the legislative process there to a crawl with objections -- and that a number of senators have said they oppose raising the nation's debt ceiling. With a debt deadline looming on Aug. 2, any lawmaker in the more deliberative body could snarl the process if any legislation comes from the House too late.

"It appears to me they're going to do indirectly what they can't do directly by not sending us whatever they decide to do in time to get it done," Reid said. "I think that the country is staring in the face a default on the debt because of the House of Representitives being out this weekend."

Schumer chimed in that it "is amazing that they would be gone."

The Democrats speculated that maybe the House leaders want to craft a deal at the last second that they know Democrats would never accept -- unless it was to avoid a disaster that sets the nation back for a decade or more.

"They hope to jam us at the last minute with something, and say 'Take it or leave it,' which is playing with fire," Schumer said. "That could create default, and if they do it, it would be on their shoulders."

Representatives for House Speaker John Boehner (R-Ohio) did not immediately answer a request for comment.

Comments

[Mister Neutron]

12:46 PM on 07/22/2011

“There are a substantial number of republicans in the house who have a serious problem with reality. A large number of members of the house Republican caucus agree with Michele Bachmann that we shouldn't raise the debt limit. Which, of course, would be an economic disaster which even Ronald Reagan understood was crazy. Another substantial chunk don’t agree with Michele Bachmann but are afraid of losing a primary to someone who does agree with her. So we have this reality problem and I do not know what will happen. These are people who are, in a medieval term, invincibly ignorant.” – Barney Frank

Invincibly ignorant is the perfect description of the Tea Party.

[mojopo]

11:54 AM on 07/23/2011

I agree with Barney, but here is why the people keep voting for Bachmann: her supporters think we're terrible people and they don't like the way we talk about them. They will vote for her and rally around her for as long as we don't take them seriously and call them names. I know it's pathetic, and yes - they'll move on to another politician if and when Bachmann moves on - but we have zero hope in reaching these kinds of voters (or changing their minds) if we hurl insults. Laughing in Bachmann's face has done nothing to keep people from voting for her time and time again.

[mojopo]

12:11 PM on 07/23/2011

P.S.: Good article here about her. I paraphrased the gist of the essay.

http://www.rollingstone.com/politics/news/michele-bachmanns-holy-war-20110622

[luval22]

10:56 AM on 07/22/2011

So what is Harry's or Chucks plan anyway - to criticize the plans put out by the Republicans? Wasn't Obama's only offering shot down 97-0? (I'm sure a few voted "present" just for old times sake) They should all do us a favor and go home since this debt ceiling debate has been ongoing and the only thing the dems can do is to declare any plan DOA. Talk about a party of no.

What is more perplexing is people thinking that by raising the debt ceiling without any cuts or reforms will solve every thing. Can someone answer me this-If we can't afford a debt level including interest payments at $14.3 t how are we going to afford it if we increase it by $2.4 t?
It's akin to calling the credit card Co., telling them they need to increase your credit line because you can't make the payment on the old credit line!

[Mister Neutron]

11:34 AM on 07/22/2011

luval22: "What is more perplexing is people thinking that by raising the debt ceiling without any cuts or reforms will solve every thing."

Seriously, who has even hinted at raising the debt ceiling without any cuts or reforms? You're arguing against a position that nobody holds.

[luval22]

12:03 PM on 07/22/2011

So we have a deal then? The Republicans have made proposals which include cuts. However the dems aren't happy until they tax us into oblivioun. Even the Republicans proposal falls short.

[yorktown1979]

10:40 AM on 07/22/2011

Obama needs to use the power given him by the Patriot Act and just raise the debt ceiling while Congress is on their "vacation" during a crisis! Then Americans need to do their part and vote out all of these fools who have put our country's financial future on the chopping block and replace them with people that corporations and the Walton Family don't own!!! That goes for the Supreme Court too! All have conflicts of interest yet none recuse themselves. Sound "Fair & Balanced" to you? Perhaps if you're Rupert Murdoch!

[nenitaB]

10:05 AM on 07/22/2011

The debt ceiling issue of whether to raise or not is, indeed ,to the average American a mind- boggling thing to ponder and not easy which side to go to or which opinion to listen to.It's surprizing how the Pres. and the House can't come to agreement in such a shorter time. The hard part is for the voting public to have high hopes for whatever plans the govt lays on the table while the borrowed money [if pushed thru] is clear, solid huge amount surely added to the debts. This would cause alarm for every citizen but only the leaders are responsible for it. Maybe the 10% of the wealthiest share on this responsibility to solve this economy problem if only to prevent the incoming danger of collapse ,if ever there is.

[Mister Neutron]

11:41 AM on 07/22/2011

If it helps you to take a position on the impact of a default on the dept, the consensus among reputable economists is that it would be a very bad thing. Tea Partiers, on the other hand, believe that it's no big thing. You can side with the experts or with the people who hate education and the educated elite.

[nenitaB]

12:22 PM on 07/22/2011

Mister Neutron,

Thanks for replying. What makes Neutron dangerous and terrifying I almost back-off replying ,lol, I forgot my Physics already. Both sides of the coin, still a part of the coin. Both have bad and good arguments thus making us a bit confused. To sum it up, there's no win win situation here as we can't foretell about tomorrow. There are say, plans to be carried out yet no one knows what the results would be. The people have no choice but to think positively and "hope" for a very good outcome. let's give peace a chance by avoiding further rebuttal of the issue.

[MeinNH]

10:01 AM on 07/22/2011

While they are gone vote a clean bill and be done with it.

[Mister Neutron]

12:48 PM on 07/22/2011

And put some thumb tacks on their seats!

[sdmcmla]

09:56 AM on 07/22/2011

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[hopeisalive]

09:02 AM on 07/22/2011

Who would expect anything less from the Party of No? Offer a plan that has no chance of passing the Senate and then take off to put more pressure on to accept something that most Americans think is not the right thing to do. Party before country is their stand on most things.

[yorktown1979]

08:48 AM on 07/22/2011

It's time that President Obama invoked the powers of Dictatorship granted to him under the Patriot Act, override Congress and just raise the damn debt ceiling. Our Nation stands to collapse without it and obviously the Republicans are hell bent on destroying us so it is time for Obama to use for the good of America what Bush used to the detrement of America! At least make the Patriot Act good for something!

[workquick]

06:31 AM on 07/22/2011

They may as well take the weekend off, they have no intention of working in good faith for the American people they represent. Their bravado is false. They know they cannot get a consensus on any deal within their own party, much less with the white house. They have to stand by their pledge to not raise taxes. The very thought of a group of legislators making such a pledge is distasteful and should be illegal. They will leave President Obama only two options, Take the constitutional route or let the nation default. I say take the constitutional route and deal with the court battles the Repubs initiate. Save the nations credit first, fight the repubs later.

[Justjack1]

05:40 AM on 07/22/2011

The GOP doesn't care. They want this to happen, just like in Minnesota.

[Susan Wood]

05:31 AM on 07/22/2011

I say default, don't cave to these school yard bully's any more. Stand your ground stop protecting the corporations and start protecting the American people.

[Mister Neutron]

11:46 AM on 07/22/2011

Defaulting will hurt us all. I'm hoping Obama will do as Bill Clinton suggested and raise the debt ceiling using 14th amendment.

[sandyhh]

05:21 AM on 07/22/2011

The House Republicans haven't been there for the country since they took office in January. It doesn't matter where they are. They never intended to take their job seriously. The rich and lunatic are in need of their beauty rest?

[Mister Neutron]

11:48 AM on 07/22/2011

The 112th Congress is on pace to be one of the least productive in history. But heck, those post offices aren't going to name themselves.

[jsanti7]

02:11 AM on 07/22/2011

its the eve of destruction but I am taking the weekend off?

[tinkertoy]

02:18 AM on 07/22/2011

Pray tell, where do the Jews go as they flee America? Just curious.

[innerpuppie]

11:37 PM on 07/21/2011

SH*T OR GET OFF THE POT! I am so sick and tired of the damned theatrics. Get the ceiling raised and then ALL OF YOU GO HOME AND DON'T COME BACK!

In your place will be a classroom of kindergarten children with a good teacher at its head. The playground will be quiet and orderly, the lunch room will have decorum, all will go potty and keep their pants clean. They will make decisions by raising their hands to make a verbal contribution and at the end of the day will cast paper ballots with an X or O written to indicate how they want to do things. They will not call each other names or lob spit balls at each other and will play fair.

A class of children would have a better chance of getting our country in order than the crummy bums we have in Congress right now.

[tinkertoy]

02:19 AM on 07/22/2011

'kna!!

[MeinNH]

10:02 AM on 07/22/2011

All true!