Galbraith - future budgets being held hostage to debt ceiling increases is terrible precedent

[Divine Discontent]

Economics Professor James K Galbraith, author of "The Predator State", has stated that the "process which makes all future budget decisions essentially hostage to future debt ceiling increases", "is a terrible precedent", and "President Obama is 100% aligned with financial wing of Dem. Party", and needs stood up to by the Progressive wing of the party, or as he calls it, "The Democratic Wing of the Democratic Party", and told no, we won't support this action of twisting the debt issue into a device used to cut programs for the people which could not get cut on their own merit. He said any argument that they are tied together, "are completely false in my view".




The 12 minute interview posted by reprehensor can be found here - http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=385x601882

[girl gone mad]

1. k & r

[ProSense]

2. "future budgets being held hostage to debt ceiling increases is terrible precedent"

He's right, but as usual it's the Democrats, primarily Obama's fault.

"is a terrible precedent", and "President Obama is 100% aligned with financial wing of Dem. Party", and needs stood up to by the Progressive wing of the party, or as he calls it, "The Democratic Wing of the Democratic Party"

Shutting down the government was a terrible precedent in 1990. Was that Clinton's or Gingrich's fault?

Clinton had to negotiate with Republicans then, and Obama has to do that now.

Does Galbraith believe the budget being held hostage to debt ceiling would be happening with a House Democratic majority?