It's been widely reported how House Republicans will only agree to renew the Continuing Resolution (which funds the U.S. government) by Oct. 1 if Obamacare is defunded.

Now, Republicans in the House are refusing to raise the debt ceiling by Oct. 17 unless a long list of their demands are met.

According to the New York Times, this list of demands includes delaying Obamacare for a year (the individual mandate begins on Jan 1, 2014), approve the Keystone XL oil pipeline, allow offshore oil and gas production, allow more drilling on federal lands and stop the Environmental Protection Agency's regulations on greenhouse gases.

The Republicans also demand that President Obama get rid of a $23 billion fund that banks must have on hand in case there is another Wall Street crash, defund the Consumer Financial Protection Bureau, limit medical malpractice lawsuits by injured Americans and increase regulations to bring down the number of people using Medicare.

As Rachel Maddow noted on her MSNBC program last night (video below), President Obama does have the power to raise the debt ceiling himself by invoking the 14th Amendment, which says in Section 4 that the validity of the public debt “shall not be questioned.”

Sources: New York Times and MSNBC


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