Boehner Renews Ransom Demand on Debt Limit Increase

WASHINGTON – Speaker John Boehner today again threatened to hold the nation’s economy hostage over Republicans’ unwillingness to increase the debt limit, demanding a ransom for avoiding a fiscal calamity the likes of which the nation almost experienced sixteen months ago.

"There's a lot of things I've wanted in my life, but almost all of them had a price tag attached to them," Boehner said today regarding meeting the nation’s debt obligations.

Ways and Means Committee Ranking Member Sander Levin made the following statement in response: “Republicans are still in denial after their Election Day losses. The American people spoke loud and clear that they are tired of Republicans manufacturing crisis after crisis and hurting the American economy in the process. It’s time for Republicans to start acting like the adults that Americans want them to.”

In case there is any uncertainty that the economy suffered after the last time Republicans took us to the brink, here’s a roundup of coverage that confirms it:

“(The) conclusion was pretty much motivated by all of the debate about the raising of the debt ceiling. . .  . It involved a level of brinksmanship greater than what we had expected earlier in the year." Head of Standard and Poor’s Sovereign Rating Committee, on the historic downgrade of U.S. debt

“The debt ceiling debate caused consumers to become very apprehensive. What we found was the main cause for the steep decline was deterioration inconsumer expectations after such a tumultuous month.” Lynn Franco, Conference Board

“Consumers worried about the impact of Washington's actions will keep their wallets in their pockets. A steep decline in the stock market — the Dow Jones industrial average has fallen six sessions in a row through Friday, losing nearly 5% — is making many consumers feel less well-off.” USA Today, 7/31/11

“A worsening debt crisis in Europe and an acrimonious political fight over the U.S. government budget and debt, which led Standard & Poor's to strip the country of its AAA credit rating, ignited a massive stock market sell-off last month and sent business and consumer confidence tumbling.” Reuters, 9/2/11

“Why has the job market cooled so much? An important factor, many economists say, is that signals from government lately have been hurting rather than helping confidence. The protracted talks over the nation's debt ceiling this summer appeared to dampen the spirits of consumers and businesses alike.” Christian Science Monitor, 9/2/11

“The problem is less that companies are laying people off than that they are not hiring. Consumers and employers alike seem almost frozen in place, with many economists saying that they seemed paralyzed by uncertainty about the future after the brinksmanship of the debt ceiling debate . . .” The New York Times, 9/2/11

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