Local Connection: Debt Ceiling - Hawaii News Now - KGMB and KHNL

Local Connection: Debt Ceiling

By: Rick Blangiardi

There's still crazy stuff going on in Washington.

President Obama sought one-point-six trillion in higher tax revenue to close the deficit and got less than half that.

But, Senate Republican leader Mitch McConnell says we're done with the tax side.

President Obama says he's not going to debate raising the borrowing limit to pay for bills congress already incurred.

Republicans say they won't vote to raise the debt ceiling without spending cuts now.

Both sides - let me say that again, *both* sides - seem obsessed with saying they won't bargain.

Posturing is no substitute for negotiation.

Financial legislation is supposed to start on the house side of Capitol Hill.

But the house has two problems.

One is that most of the key players have their eye on the next election instead of the debt crisis.

The other is that the republican majority is divided into factions.

It's fifty shades of red and all they have in common is their dislike of blue.

Cutting spending and raising taxes without creating a new recession will be hard enough without all these side issues.

Copyright 2012 Hawaii News Now. All rights reserved

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