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| Mitch McConnell draws Republican line in the sand on tax increases | Mitch McConnell draws Republican line in the sand on tax increases |
| (about 1 month later) | |
| The Republican co-architect of the deal which meant America avoided the fiscal cliff has ruled out any further tax hikes on the rich, stating that spending cuts must be the focus of looming talks over the debt ceiling. | The Republican co-architect of the deal which meant America avoided the fiscal cliff has ruled out any further tax hikes on the rich, stating that spending cuts must be the focus of looming talks over the debt ceiling. |
| Speaking on ABC's This Week, Senate minority leader Mitch McConnell said the issue of tax revenues was "finished, over, completed", and added that negotiations must now be centered solely on the White House's "spending addiction". | Speaking on ABC's This Week, Senate minority leader Mitch McConnell said the issue of tax revenues was "finished, over, completed", and added that negotiations must now be centered solely on the White House's "spending addiction". |
| The comments, coming from a man who last week worked with the vice-president, Joe Biden, to broker a last-minute agreement to stave off a punitive austerity package that could have plunged America back into recession, will be taken as a drawing of a line in the sand by Republican negotiators. McConnell's words came a day after President Barack Obama signalled that he would be pursuing a hard line in future talks with the Republicans. | The comments, coming from a man who last week worked with the vice-president, Joe Biden, to broker a last-minute agreement to stave off a punitive austerity package that could have plunged America back into recession, will be taken as a drawing of a line in the sand by Republican negotiators. McConnell's words came a day after President Barack Obama signalled that he would be pursuing a hard line in future talks with the Republicans. |
| Despite having only narrowly avoided the so-called fiscal cliff of across-the-board tax increases and swingeing spending cuts, Washington is bracing itself for another round of brinkmanship over the debt ceiling. The administration needs Congress to increase the US's borrowing limit, to ensure the smooth running of government. Without an agreement to do so, America could default on its debt, potentially triggering a panic on the markets. | Despite having only narrowly avoided the so-called fiscal cliff of across-the-board tax increases and swingeing spending cuts, Washington is bracing itself for another round of brinkmanship over the debt ceiling. The administration needs Congress to increase the US's borrowing limit, to ensure the smooth running of government. Without an agreement to do so, America could default on its debt, potentially triggering a panic on the markets. |
| Last year, uncertainty over whether lawmakers would increases the debt limit contributed to America's credit rating being downgraded, despite politicians agreeing to an eleventh-hour deal to raise the ceiling. | Last year, uncertainty over whether lawmakers would increases the debt limit contributed to America's credit rating being downgraded, despite politicians agreeing to an eleventh-hour deal to raise the ceiling. |
| In his weekly radio address on Saturday, Obama outlined the consequences of failing to do so again. | In his weekly radio address on Saturday, Obama outlined the consequences of failing to do so again. |
| "If Congress refuses to give the United States the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic," he said. "The last time Congress threatened this course of action, our entire economy suffered for it. Our families and our businesses cannot afford that dangerous game again." | "If Congress refuses to give the United States the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic," he said. "The last time Congress threatened this course of action, our entire economy suffered for it. Our families and our businesses cannot afford that dangerous game again." |
| Obama said he accepted that spending cuts would form part of the solution, but that they "must be balanced with more reforms to our tax code". | Obama said he accepted that spending cuts would form part of the solution, but that they "must be balanced with more reforms to our tax code". |
| In the fiscal cliff deal, Democrats secured a hike in tax rates for families making more than $450,000 a year and saw significant spending cuts postponed. The deal passed through Congress, despite coming under heavy attack from Republicans in the House of Representatives. | In the fiscal cliff deal, Democrats secured a hike in tax rates for families making more than $450,000 a year and saw significant spending cuts postponed. The deal passed through Congress, despite coming under heavy attack from Republicans in the House of Representatives. |
| Mindful, perhaps, of an apparent schism in GOP ranks over the fiscal cliff deal, McConnell has set out his stall well in advance of the next round of negotiations. | Mindful, perhaps, of an apparent schism in GOP ranks over the fiscal cliff deal, McConnell has set out his stall well in advance of the next round of negotiations. |
| "The tax issue is finished, over, completed," said the senator from Kentucky. "That's behind us. Now the question is what are we going to do about the biggest problem confronting our country and our future, and that's our spending addiction." | "The tax issue is finished, over, completed," said the senator from Kentucky. "That's behind us. Now the question is what are we going to do about the biggest problem confronting our country and our future, and that's our spending addiction." |
| Asked whether Republicans would threaten a default on the US's obligations if spending-cut concessions were not forthcoming, McConnell said: "It's not even necessary to get to that point. Why aren't we trying to settle the problem? Why aren't we trying to do something about reducing spending?" | Asked whether Republicans would threaten a default on the US's obligations if spending-cut concessions were not forthcoming, McConnell said: "It's not even necessary to get to that point. Why aren't we trying to settle the problem? Why aren't we trying to do something about reducing spending?" |
| Democrats on Sunday warned that any deal over the debt ceiling would have to form a mix of increased revenue and spending cuts. Representative Chris Van Hollen told Fox News Sunday that McConnell's comments represented "a recipe for more gridlock" in Washington. | Democrats on Sunday warned that any deal over the debt ceiling would have to form a mix of increased revenue and spending cuts. Representative Chris Van Hollen told Fox News Sunday that McConnell's comments represented "a recipe for more gridlock" in Washington. |
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