However, over the weekend, Treasury Secretary Jack Lew warned against another manufactured emergency, telling CNN, “We’ve already done a lot of deficit reduction,” and, “we need to get the debt limit extended in a way that doesn’t create a crisis.” He explained that we must start investing in our nation to “build our way to a better future,” and said, “the President has made crystal clear, he’s not going to negotiate over the debt limit.”
Lawmakers must reach an agreement by early November to prevent the government from defaulting on its debts, and both sides are preparing for a fight. Republicans are simply ignoring the enormous deficit reduction that has already taken place, and implying that the painful austerity measures hitting Americans weren’t the “real” spending cuts that the GOP has been calling for. Americans being hit with reduced unemployment, fewer meals on wheels for seniors, and forced furlough days would certainly argue that the sequester cuts are, in fact, very real.
This is shaping up to be another GOP-manufactured crisis to force the President to give in to economic terrorists’ demands. Americans are fed up with Republican economic hostage-taking. As lawmakers head home for their 5-week summer recess, it’s likely that they will hear just how frustrated Americans are. It’s possible Republicans in Congress will actually listen to their constituents this time around, but it’s more likely that we’ll be facing yetanother debt limit crisis in the coming months. Stay tuned. – See more at: http://www.thomhartmann.com/blog/2013/07/economic-terrorists-are-it-again#sthash.h3sB7EPT.dpuf