Gov. Andrew Cuomo sounded the alarm bells over a potential federal default today, which he said would come with a price tag of as much as $2 billion in lost revenues for New York State alone. Read More
Senator Chuck Schumer on Friday accused Republican lawmakers of holding the country “hostage” and predicted they’d lose a looming fight over the debt ceiling and government funding. Read More
Congressman Charlie Rangel sat down with a small group of reporters yesterday for a wide-ranging discussion at his office. One of the main topics was the brewing battle over the debt ceiling and Politicker asked the congressman for his take on the idea President Barack Obama can avoid a fight with congressional Republicans who won’t raise the debt cap by having the Treasury Department mint a $1 trillion coin.
“I’m working on the design, one for the president and one for me,” Mr. Rangel said with a smile.
We wondered whether that meant he wanted to see his portrait depicted on the coin.
“No, I want one of the coins,” the congressman responded as the assembled reporters laughed. “The president gets one, he puts it in the treasury. I get one, I keep it. Makes sense to me.”
Earlier in the conversation, Mr. Rangel criticized Republicans who have said they will not vote to raise the debt ceiling without spending cuts because he said they are solely focused on slashing “so-called entitlements” that are social programs for “vulnerable” portions of the population. Read More
Senator Kirsten Gillibrand sure is receiving flack from unlikely quarters for her vote yesterday against raising the federal debt ceiling on the grounds that it wasn’t a “balanced” approach.
First, State G.O.P. Chairman Ed Cox remarked on Gillibrand’s “political transformation.”
“In just over 2 years in the United States Senate, she has gone from upstate conservative Democrat Congresswoman to downstate liberal, representing the views of the most radical elements of her party,” he said. Read More
As the American economy inched closer to collapse on Monday morning, 50 people took to the streets of Lower Manhattan, stripped naked and pantomimed life on Wall Street. One yelled about stock prices like a trader on the floor. Another swept the streets. A third pretended to sell hot dogs.
“This is a commentary on the absurdity of the situation,” said the artist behind the project, Zefrey Throwell. “It’s totally a Freudian nightmare to have people show up and work naked on Wall Street. This absurd statement I consider parallel to the lack of transparency on our financial structures.” Read More
Queens Congressman Gregory Meeks told The Politicker this morning that he was a reluctant vote to raise the debt ceiling, but that ultimately enough concessions were made by House Republicans to convince him to sign on.
“In order to get this done right, we very definitely had to have some revenue,” he said. “But if we are going to have a compromise, and there will be no revenue, then entitlements should not be cut, and as of right now entitlements have not been cut.” Read More
Sen. Kirsten Gillibrand voted against raising the debt ceiling on the Senate floor today.
The one-term Senator is only one of 26 senators to do so, and puts her at odds with New York’s senior senator, Chuck Schumer, a political mentor who helped shepherd the bill. Read More
Both the Republican and Democratic candidates for the Anthony Weiner’s former Congressional seat are out with a statement this afternoon on the deal reached last night to extend the federal debt ceiling by cutting federal spending.
And in a move that may mirror how the rest of the country reacts to the measure, G.O.P. Bob Turner is hailing its passage, while Democrat David Weprin knocks the House leadership for holding the country “hostage.” Read More
After the president and Congressional leaders came to an agreement last night on Staten Island House Republican Freshman Michael Grimm told Wolf Blitzer last night that he will vote “yes” on the measure. Read More