Categories: Politics

Key Senate Democrat Refuses to Negotiate with Republicans on U.S. Debt Limit

Jason Ippolito

Key Senate Democrat Refuses to Negotiate with Republicans on U.S. Debt Limit (Reuters)

Republicans demanding concessions in exchange for raising the U.S. debt ceiling will be refused, the Democratic chairwoman of the Senate Budget Committee said on Friday. “We will not negotiate over whether or not the United States of America should pay its bills,” Senator Patty Murray said in a letter to colleagues. “And once again, before they get any further down this damaging path, we call on our Republican colleagues to not play politics with our economic recovery.” The United States is set to reach the debt ceiling in late February. Surging federal deficits and debt-limit fights have proven to be a double whammy, with the U.S. losing its top-tier credit rating from Standard and Poor’s in 2011. House of Representatives Speaker John Boehner said his fellow Republicans will not pass a debt increase without some concessions from Democrats. A few of the demands Republicans are considering include expanding offshore energy production, small changes in President Barack Obama’s healthcare law and approval of the Keystone XL oil pipeline. However, President Obama has vowed not to negotiate budget cuts to win passage of raising the debt limit. For investors, uncertainty reigns.

Paul Dykewicz

Paul Dykewicz is the editor of StockInvestor.com and the editorial director of Eagle Financial Publications in Washington, D.C. He writes and edits for the website, as well as edits investment newsletters, time-sensitive trading alerts and other reports published by Eagle. He also is an accomplished, award-winning journalist who has written for Dow Jones, USA Today and other publications, as well as served as business editor of a daily newspaper in Baltimore. In addition, Paul is the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain." He received his MBA in finance from Johns Hopkins University, where he was a two-time president of the school's Finance Club. In addition, Paul has a bachelor's degree from the University of Michigan and a master's degree in journalism from Michigan State University. Outside of work, Paul volunteers with a faith-based organization to assist the poor in Southeast Washington, D.C., to learn personal finance skills to lift themselves out of debt.