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Under the Protect our CREDIT Act, the president would be required to determine the amount of debt necessary for the upcoming fiscal year and propose a new debt limit based on the spending amount authorized by Congress.
Really not what folks sent us here to do. >> and ryan, the funny thing about this, this can end up being perceived as some sort of republican cave when they never should have taken a party position against raising the debt ceiling in the first place. so that doing the rational thing could actually simply look rational when they chose to do it. >> right, exactly. they -- if they had never made a big deal about this to begin with then they wouldn't be in this situation. now, obama kind of aided and abetted them because he wanted it to be the debt ceiling leverage that he kind of wanted this gran...
Could actually simply look rational when they chose to do it. >> right, exactly. they -- if they had never made a big deal about this to begin with then they wouldn't be in this situation. now, obama kind of aided and abetted them because he wanted it to be the debt ceiling leverage that he kind of wanted this grand bargain in 2011. that never happened. since then, he has been consistent saying i am not going to mess around with the debt ceiling anymore. and good for him on that, you're right. as newt gingrich said, wisely and moderately and reasonably, he said don't pick this fight because yo...
President i remember watching the president go on tv when we were a couple days away saying he wasn't going to sign anything that he ended up signing. it was like a spoiled child. that is not what you need in that situation. the difficulty here is, looking at government, usually in divided government we're able to achieve big things. bill clinton got together with bob dole and newt gingrich and reformed welfare. you had ronald regan get together with tip o'neal and reform the tax code. it takes leadership from the white house. you can't walk away. >> whose idea was it to make the debt ceiling ...