Thursday, April 17, 2014
By Laurie Kellman / The Associated Press
Stunt or principled stand, Sen. Ted Cruz's talkathon against Obamacare scored 21 hours of cable television time to describe the president's signature law in the most conservative terms. By noon Wednesday when the Texas freshman finally sat down, tea party groups supporting him were in full fundraising mode.
Sen. Ted Cruz, R-Texas, talks to reporters as he emerges from the Senate Chamber on Capitol Hill in Washington on Wednesday, after railing all night against the Affordable Care Act. A number of Republicans expressed disagreement with the senator’s tactics.
The Associated Press
FIRMER DEADLINE SET FOR DECISION ON DEBT LIMIT
WASHINGTON - The nation's debt limit must be raised by Oct. 17 to avoid a potential default, Treasury Secretary Jacob J. Lew told congressional leaders Wednesday in setting a firmer deadline for lawmakers to break a stalemate.
He urged Congress to "act immediately" to raise the $16.7 trillion borrowing limit or risk "catastrophic" results. Setting a specific date could help force action by lawmakers, who often wait until the last minute on highly controversial legislation.
Last month, Lew gave a vague mid-October date for when the Treasury would run out of the so-called extraordinary measures it has been using to juggle the nation's finances and continue borrowing after the debt limit technically was reached in May.
By the middle of October, the Treasury would have about $50 billion on hand to pay incoming bills on any given day, Lew told Congress on Aug. 26.
But in a letter Wednesday, Lew said more information about revenues allowed him to project that the Treasury would run out of borrowing authority no later than Oct. 17. And at that point, Lew estimated, the Treasury would have just $30 billion in cash.
Daily expenditures can run as high as $60 billion, he said.
"If we have insufficient cash on hand, it would be impossible for the United States of America to meet all of its obligations for the first time in our history," Lew said.
His new estimate is in line with an analysis by the Bipartisan Policy Center that the U.S. would have to raise the debt limit between Oct. 18 and Nov. 5.
An exact deadline-known as the X date-is difficult to set because it is tricky to predict the amount of money coming in from tax payments and other sources on any given day, said Steve Bell, senior director of the center's Economic Policy Project.
The White House remains at odds with congressional Republicans over raising the debt limit. That's led to fears of a repeat of the financial market turmoil that took place in 2011 when Congress acted at the last minute to avoid a potential default -- or worse, of an actual first-ever federal default.
President Obama has refused to negotiate over the issue, saying the debt limit must be raised as it has been dozens of times in the past in order to pay for spending Congress has already authorized.
-- Los Angeles Times
"Please make the most generous emergency contribution you possibly can to the Tea Party Patriots right away," the group's mass email urged in the final minutes of Cruz's marathon speech. "Ted Cruz is only one man, but right now he speaks for all of us."
Whether he spoke for other Republicans, positioned the party to gain seats in next year's election or just burnished his own political ambitions was the subject of bitter, behind-the-scenes debate.
"What Ted has done is help change the debate in the country from Obama's terms," said former Sen. Jim DeMint, R-S.C., one of the original patrons of the tea party and now president of the conservative Heritage Foundation. "It's a painful process," he added. "You really can't be elegant when everyone wants to keep doing what they're doing."
Some Republicans questioned Cruz's motives and wondered whether he might perform an encore.
Three Republican officials with knowledge of private meetings this week said Republican senators tried twice to dissuade Cruz for the good of the party, and for his own future in the Senate. They were clear that he was making enemies. At one meeting, Sen. John Boozman, R-Ark., stood to face Cruz. Boozman complained his office was being flooded with bullying calls, saying he hadn't been bullied since grade school and wouldn't be bullied now. The officials spoke on condition they not be named because they were not authorized to discuss the exchanges.
Cruz, 42, saw himself as using his office to turn the Senate into a platform for countering President Obama's claims about his health care program at just the moment Americans were beginning to understand how Obamacare will work.
"I hope that this filibuster has helped frame the debate for the American people," Cruz told reporters as he left the chamber shortly after noon Wednesday and headed for an interview with conservative talk show host Rush Limbaugh.
During his marathon oration, Cruz gave his colleagues an ultimatum based on this logic: Vote against moves aimed at preventing a government shutdown next week or be branded a supporter of Obama's health care law. He stuck to that theme even though every Senate Republican opposes Obamacare.
"Any senator who votes with Majority Leader Harry Reid ... has made the decision to allow Obamacare to be funded," Cruz said. "The American people will understand that."
That wasn't at all clear to other Senate Republicans. Minority Leader Mitch McConnell, R-Ky., refused to back up Cruz's tactics. Cruz's fellow Texas Republican, John Cornyn, sided with McConnell.
"I think we'd all be hard-pressed to explain why we were opposed to a bill that we're in favor of," said McConnell, who is facing a tough re-election bid and has aggressively courted tea party support.
As Cruz talked, nervous Republicans were reading a pair of polls that showed the public was split over whether to defund Obamacare as part of a budget agreement. Both the Pew Research Center and Gallup polls showed that majorities of Americans favor compromise.
In the Gallup survey, 53 percent said it was more important for political leaders to compromise in order to get things done, more than double the 25 percent who said it was more important for leaders to stick to their beliefs. The preference for compromise over rigidity held across ideological groups and among both independents and Democrats. Republicans and those who said they supported the tea party, however, split evenly between the two approaches.
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