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While the nation is in disarray over the debt ceiling, the Republican Party in particular is in shambles. The Tea Party is warning the Speaker John Boehner and other Republican leaders to “hold the line,” while elders in the Republican Party and Republican business donors are urging the party to raise the debt ceiling to prevent an economic downfall.
The Tea Party and American Grassroots Coalition organized a rally on Wednesday in the capital. Seventy-five supporters and featured GOP Reps. Louie Gohmert (R-Texas) and Joe Walsh (R-Ill.), and Sens. Jim DeMint (R-S.C.), Rand Paul (R-Ky.) and Mike Lee (R-Utah). The supporters at the rally want the Republican leadership to bring back the “Cut, Cap and Balance” bill that the House passed, but failed in the Senate. The Act would raise the debt ceiling before August 2nd deadline.
The Tea Party and many GOP lawmakers do not support Speaker Boehner’s plan, criticizing that it cuts too little. Boehner reportedly held a closed-door meeting on Wednesday and told Republicans to “get your ass in line.”
“This is the bill,” Boehner stated. “I can’t do this job unless you’re behind me.”
Boehner’s plan would temporarily raise the debt ceiling until the end of the year. The plan would also make spending cuts, although not as deep as many in the party would like. Credit raters along with Bank of America have described the Speaker’s plan as insufficient and would not prevent an economic fallout.
The normally Republican-leaning National Association of Manufacturers is insisting that Congress raise the debt ceiling, again. In part, the statement read:
During the current uncertain economic times, Americans desperately need jobs. It is unreasonable for our government to stand by idly and allow interest rates to increase for families and businesses. Doing nothing also will result in a decrease in foreign investments in the United States and a general hit on the economy.
This is the time for leadership in Washington. The White House and Congress must act to raise the debt ceiling to ensure our country’s fiscal and economic well-being. To do otherwise is wholly irresponsible and ignores grave consequences and fiscal responsibility.
Senator John McCain (R-AZ) criticized the tea party republicans on the Senate floor on Wednesday. “What is really amazing about this is that some members are believing that we can pass a balanced budget amendment to the Constitution in this body with its present representation — and that is foolish,” said McCain on the Senate floor, according to The Hill.
“That is worse than foolish. That is deceiving many of our constituents.” The Arizona senator regarded the situation unfolding as “unfair” and “bizarre.”
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