Debt Limit

[SB Shock]

Reid Moves Forward With Debt-Reduction Plan as Boehner Sweetens Deal for GOP

Senate Democratic Leader Harry Reid said he plans to move ahead with a debt-limit bill to rival a House Republican proposal that got new life Friday, as President Obama said it's time to move forward with debt-reduction legislation that can be supported by both political parties.

With the U.S. moving perilously closer to default on its loans to cover years of deficit spending, the majority leader announced his plan to cut $2.5 trillion from the deficit over a decade. At the same time, House Speaker John Boehner announced he would include a balanced budget amendment in his proposal, which appeared to earn him the support he needed from recalcitrant Republicans.

Reid said he has invited his counterpart, Senate Republican leader Mitch McConnell, to negotiate with him after House Republican leaders were unable to secure votes to pass the debt-reduction bill regrouped.

"I know the Senate compromise bill Democrats have offered is not perfect in Republican' eyes. Nor is it perfect for Democrats," Reid said. "But together, we must make it work for all of us. It is the only option."

McConnell, however, chastised Senate Democrats for sitting on their hands while the House GOP did all the heavy lifting.

"The contrast couldn't be starker. Rather than working the last few days towards a solution to this crisis the way the Republican majority in the House has, the Democratic majority here in the Senate has been wasting precious time rounding up 'no' votes to keep this crisis alive," McConnell said on the Senate floor.

"Rather than being responsible and doing their duty and come up with a bill that can actually pass, they have been busy signing people up for the "Not Good Enough Caucus" and ginning up opposition to everything else," he added.

Democrats had a plan. They decided to go to 4 corner and run the clock down and take the last shot. Meanwhile the Republicans just jacked 3's up from half-court instead of running the offense.

[RoyalShock]

If those changes to the Boehner plan are legit, then I would say the "Tea Party" Republican's tactics have worked. Obama blinked, Boehner got his butt in line (phrasing intentional ;) ) and the Dems are finally realizing those unicorns and rainbows aren't real.

To me, that is finally arriving at a "starting point".

[RoyalShock]

Ok, I just re-read Sub's post and realized the 2.5 trillion reduction is part of Reid's plan. Boehner should jump on that and get it in his plan.

[wsushox1]

No one cares about this?

http://espn.go.com/video/clip?id=6816900

[Maggie]

Rep. Paul Ryan Destroys Reid Bill in Blistering Speech; ‘Let’s Cover the Moon with Yogurt!’

[Maggie]

Economic Freedom & Quality of Life

[WuDrWu]

Rep. Paul Ryan Destroys Reid Bill in Blistering Speech; ‘Let’s Cover the Moon with Yogurt!’

I'm not sure I've ever heard Rep. Ryan quite like that.


Well done sir.

[WuDrWu]

2 different bills in an attempt to get past the debt issue, at least by Aug 2, passed the House.


Neither made it through the Senate.


These are the only options on the table.


Who is the party of No?

[WuDrWu]

I am seriously wishing death on Chuck Schumer.


That stupid ass smirk from someone as brain dead as he, is more annoying than a 7 year itch.


Go to hell Chuck. I'd be happy to show you the way.

[SubGod22]

No one cares about this?

http://espn.go.com/video/clip?id=6816900

Why would we?

[shockall]

It's ironic that Democrats in Congress can vote on a multi-trillion dollar healthcare bill without reading it, and can reject a multi-trillion dollar economic savings bill without reading it.

Perhaps the simple problem is that they can't read!

[SB Shock]

2 different bills in an attempt to get past the debt issue, at least by Aug 2, passed the House.


Neither made it through the Senate.


These are the only options on the table.


Who is the party of No?

Reid is now filibustering his own bill because he doesn't have the votes to pass his version of "covering the moon with Yogurt"

[wsushox1]

http://globalpublicsquare.blogs.cnn.com/2011/07/28/the-damage-is-already-done/?hpt=hp_c1

[Maggie]

Sen. Rubio

[Maggie]

Triumph of a Dysphemism

There was a short discussion about so-called loopholes in the tax code a few pages back. I think the link above is a good explaination.