Pass increased spending and give me more tax revenue. Period. Oh, and hands off my pet projects.
The House of Representatives will agree to a debt ceiling increase (want to agree, for good or ill), if President Barack Obama will agree to spending reductions equal to, or greater than, the increase in the ceiling. Obama says he refuses to negotiate at all on the debt ceiling. Just raise it. Or he’ll be forced to shut down the government for lack of borrowing authority.
The House of Representatives, along with a bipartisan collection of Senators, want to reform our tax code and use any increases in tax revenue that might result solely to pay down the national debt (and so to mitigate any future need to raise the debt ceiling anew). Obama says that tax reform must, by design, result in increased tax revenue, with that increase to be committed solely to support increased spending. Otherwise, he’ll be forced to shut down the government for lack of revenue.
Many Republicans want to pass a budget for the coming fiscal year, or failing that a Continuing Resolution for the coming months, that contains clauses that defund Obamacare—a program that Obama has already admitted isn’t ready for adult use. Obama has said he’ll veto such a budget, even if it means he must shut down the government for lack of spending authority or income.
Obama is perfectly willing to shut down the government and blow up our economy if he can’t have all of this. Not one or two of them—all of them.