From the NY Times: Obama Says G.O.P. Won’t Get ‘Ransom’ to Lift Debt Limit “They will not collect a ransom in exchange for not crashing the American economy,” Mr. Obama vowed in the East Room, a week before his second inauguration. “The financial well-being of the American people is not leverage to be used. The full faith and credit of the United States of America is not a bargaining chip.” CR note: The "debt limit" is not about spending - it is about paying the bills. The key in the short term is to NOT reduce the deficit too quickly (the fiscal ... Read More