The White House spokesman Jay Carney is dismissing the latest debt-ceiling bill from House Speaker John Boehner as overly partisan and a dangerous waste of time. (July 29)
Continue reading …Yesterday on “The Fix”, a politics blog of the Washington Post, Chris Cillizza and Aaron Blake wrote “Five Members to watch in the House debt ceiling vote.”
Continue reading …Harry Reid tossed some zingers at Republicans last night after they failed to vote on John Boehner’s debt ceiling plan. Reid adjourned the Senate just before 11pm, the Hill reports, saying, “I apologize to everyone for the late hour, but we’ve been waiting for the House to conduct their business…
Continue reading …Click here to view this media Rep. Paul Ryan (R-WI) Thursday attacked “accounting tricks and budget gimmicks” in Senate Majority Leader Harry Reid’s (D-NV) plan to end the debt ceiling crisis. “We assume we’re going to be fighting this war for 10 more years, with over 100,000 troops in Afghanistan and oh, gosh, wait, we’re going to withdraw our troops in 2014,” Ryan said in a speech on the House floor. “$1 trillion in savings.” “I’ve got a better idea. Let’s pass a bill to cover the moon with yogurt that will cost $5 trillion today. And then let’s pass a bill the next day to cancel that bill. We could save $5 trillion,” he continued. “Wait, I’ve got a better idea. Our debt is $14 trillion. Let’s come up with a new plan to spend $14 trillion, then rescind it the next day and let’s save $14 trillion. This stuff is fiscal fantasy. You can’t make this stuff up, Mr. Speaker.”
Continue reading …First-term House Republicans received a slightly menacing missive from Sarah Palin not long before they were expected to vote on John Boehner’s debt plan yesterday. “We little folk are watching the debt ceiling debate with great interest and concern,” Palin wrote on her Facebook page , reposting an earlier letter to…
Continue reading …Larry Flynt is offering his services as ringmaster of the Casey Anthony circus. The Hustler publisher says he is willing to offer her $500,000—plus 10% of profits to pose nude, CNN reports. Flynt says the offer—which the Anthony camp dismisses as “nonsense”—will make a lot more…
Continue reading …AP Top Stories Price: With Unnecessary Debt Crisis GOP Creates Uncertainty, Threatens Economy Sessions and Thune On Hannity: Democrats Have Resisted Spending Cuts Every Step Of The Way lingsherry says: RT @ cnnbrk : House may vote on Boehner debt plan Friday after failing to generate support Thursday http://t.co/b5qaMls
Continue reading …The Senate Democratic leader, Harry Reid, says he will move forward on his debt-limit bill while the House GOP measure remains stalled. (July 29)
Continue reading …Ed Henry might be finding his new job as White House correspondent for Fox News a little difficult, since he’s been called out by Press Secretary Jay Carney for two days in a row. The first sparring match between the two came on Tuesday, when Henry asked why a so-called “Obama plan” about the debt ceiling had not been officially released to the public. “I understand that idea that there is not an Obama plan is like point number one on the talking points issued by the Republican Party,” Carney said. “It’s not a talking point,” Henry said. “That’s unfair. Where is the plan?” The two went back and forth for minutes more, with Henry also asking if there would be a “depression” if the debt ceiling was not lifted by August 2nd. “You should go on the air and tell your viewers there’s nothing to worry about,” Carney replied. WATCH: But the more heated exchange came on Wednesday, when Henry raised the idea of an “Obama plan” again. He asked why such a plan had not been introduced by a Senator and scored by the Congressional Budget Office. “I know you’re creating a thing here for Fox,” Carney said testily. “That’s not what I’m doing,” Henry said as the rest of the room started murmuring. “And you know better than that.” “Somebody from Fox sat in a room with senior White House officials and got more detail on the President’s proposal…than you could name me now that is in any of the proposals by House Republicans, and you know it,” Carney fired back. WATCH:
Continue reading …WASHINGTON — A Republican plan that would have hiked the nation’s debt ceiling for only six months and left the country’s spending captive to a “Super Congress” failed to advance in the House Thursday night, with Democrats and Tea Party-backed Republicans opposing the plan. House Speaker John Boehner (R-Ohio) had initially scheduled a 6 p.m. vote on his measure which, in addition to raising the debt ceiling, would have cut $915 billion in spending and set up a 12-legislator commission to compel another $1.8 trillion in reductions over 10 years. The vote was then postponed to later Thursday night, but House Majority Whip Kevin McCarthy (R-Calif.) announced just before 10:30 p.m. that a vote would not occur until the following morning at least. Boehner had already gone back and restructured his plan, after the Congressional Budget Office revealed Tuesday that it contained only $850 billion in cuts — less than the plan put forth by Senate Majority Leader Harry Reid (D-Nev.). But even after his plan was re-scored — and he spent more than a day leaning on reluctant members — Boehner was short at least three votes, sources said. The Hill reported that the $17 billion in funding for Pell grants contained in the bill, added in part to lure some Democrats, was a major stumbling block for some members. And many Tea Party-backed Republican freshmen oppose any increase in the debt ceiling whatsoever. Boehner and his leadership team worked for hours, but they were unable to salvage the bill and secure the votes, marking a stunning failure for a party leader on a crucial piece of legislation. It was unclear if Boehner would try to bring the bill up again, or if the way was now clear for Reid to advance his plan, which would cut $2.2 trillion over ten years and raise the debt ceiling enough to last into 2013. Democrats suspected Boehner’s efforts were done. “If he can’t get the votes tonight he’ll never get them. You can’t put this toothpaste back in the tube,” one Senate leadership aide said. The high-stakes showdown marks the first time in U.S. history that the nation has come so close to being unable to pay its bills. The debt limit — $14.3 trillion — was hit in May, and Treasury Secretary Timothy Geithner has been using emergency measures since then to juggle the books. He has warned that if the limit is not increased by Aug. 2, the federal government will risk defaulting on its obligations. Raising the debt ceiling has historically been a routine procedure; Congress has done it dozens of times in the past with no strings attached. Yet even as Geithner and other economists have warned of calamitous consequences if the nation defaults, Tea Party-backed Republicans have insisted on linking payment of the country’s bills to huge cuts in future spending. That position started out as a relatively popular one, with many Americans also opposed to raising the debt limit altogether. But many have since changed their minds; recent polls have shown that while most Americans think spending cuts are important, they also believe that the debt limit must be increased before the federal government defaults. As credit rating agencies have warned that they may downgrade the United States’ debt, a move that could increase interest rates on home loans, student loans, and credit card bills, Americans have become more and more concerned. The slight hike in interest rates that would result from the country losing its AAA credit rating would also mean the federal government would face an extra $100 billion a year in borrowing costs. Ironically, the speaker wound up in such a tough spot after he walked out of talks at the White House, where he was negotiating a “grand bargain” with President Barack Obama and congressional leaders. Boehner left, he said, because the president was seeking too much in revenue. Yet while the sides differed on the details, the deficit reduction package would have ultimately been larger than either Boehner’s or Reid’s, and would have included around $1 trillion in revenues paired with some $3 trillion in cuts. Republicans have been adamant that taxes cannot be raised on the wealthy, and that corporate tax loopholes and oil subsidies cannot be ended. Many members of the Tea Party have continued to insist, meanwhile, that warnings of catastrophe were exaggerated and the debt ceiling should not be raised at all. House Minority Leader Nancy Pelosi (D-Calif.) released a statement soon after Boehner gave up for the night, suggesting he had simply gone too far. “Hopefully, now the Republicans will come back to the table to negotiate a bipartisan, balanced agreement that is overwhelmingly supported by the American people,” Pelosi said. “Republicans have taken us to the brink of economic chaos. The delay must end now so we can focus on the American people’s top priority: creating jobs and growing the economy.” What happens now depends on whether Boehner keeps trying. Even if Boehner is able to get his bill through the House, a Senate Democratic aide told The Huffington Post that Reid would quickly move to defeat the measure, then put his own package up for a vote. Democrats may also focus on getting Minority Leader Mitch McConnell (R-Ky.) back to the negotiating table. Exactly what McConnell would demand was unclear, but Democrats could propose some sort of trigger mechanism that would force deeper cuts later in exchange for a debt ceiling hike now — an idea that GOP lawmakers may find agreeable, but which advocates for the poor and elderly believe would be devastating to the social safety net. The savings in Reid’s plan come primarily from discretionary spending cuts and the drawdown of troops from the Iraq and Afghanistan wars. Like Boehner’s plan, it would set up a super committee of 12 lawmakers to propose additional cuts, including entitlement reforms, which would then go to the House and Senate for simple up-or-down votes. But Reid’s version, unlike Boehner’s, guarantees the debt ceiling is extended into 2013, which would push it past the next elections and which many ratings agencies would prefer. If Reid can get the legislation out of the Senate — where there would be at least one filibuster vote — the measure might be able to attract enough Democrats and Republicans to pass it in the House. There also remains a chance that leaders could revive McConnell’s idea of voting to give the White House authority to make cuts and debt limit hikes in three steps. Jennifer Bendery and Elise Foley contributed reporting.
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