Despite the initial rhetoric that the GOP caved to most of the demands of the Obama Administration in the Fiscal Cliff deal, the real legislative opportunities have yet to unfold. In just about six weeks, U.S. lawmakers are going to be forced to raise the debt ceiling in order to fund government operations. Without the increase in the debt ceiling, the U.S. would likely face a government "shut-down" of many non-essential services until new funding is approved. That situation provides the GOP with leverage that it didn't have in the first Fiscal Cliff debate.
By threatening to allow the U.S. to default on some of its debt obligations, the GOP could force the hand of the Obama Administration and Congressional Democrats. The spending cuts that didn't materialize in the first Fiscal Cliff deal could be required by Republicans in order to approve the increase in the debt limit. Obviously, this is only going to increase the partisan angst and animosity on Capitol Hill, but that is the new normal in Washington, DC.
What will be interesting is just how far the GOP leaders will be willing to push the Administration on the issue of the debt ceiling. Without the increase, the U.S. government would be further exposed as the insolvent house of cards that it is, so it may be difficult for the GOP to stand firm on any demands. Yet, without such a bargaining chip, the spending cuts that are necessary to make any progress toward managing the national debt will be impossible.
Lawmakers - on both sides of the aisle - seem unwilling or unable to make the necessary decisions to cut spending and waste at the federal level. Surely, there are hundreds of billions wasted annually on various programs and inefficiencies. Eventually, the fat will have to be cut. The next opportunity comes in just a few weeks.
By threatening to allow the U.S. to default on some of its debt obligations, the GOP could force the hand of the Obama Administration and Congressional Democrats. The spending cuts that didn't materialize in the first Fiscal Cliff deal could be required by Republicans in order to approve the increase in the debt limit. Obviously, this is only going to increase the partisan angst and animosity on Capitol Hill, but that is the new normal in Washington, DC.
What will be interesting is just how far the GOP leaders will be willing to push the Administration on the issue of the debt ceiling. Without the increase, the U.S. government would be further exposed as the insolvent house of cards that it is, so it may be difficult for the GOP to stand firm on any demands. Yet, without such a bargaining chip, the spending cuts that are necessary to make any progress toward managing the national debt will be impossible.
Lawmakers - on both sides of the aisle - seem unwilling or unable to make the necessary decisions to cut spending and waste at the federal level. Surely, there are hundreds of billions wasted annually on various programs and inefficiencies. Eventually, the fat will have to be cut. The next opportunity comes in just a few weeks.