Posted on 07/24/2011 3:31:15 PM PDT by Jean S
With no agreement reached by Sunday afternoon, House and Senate leaders appear to be moving in their own direction with competing plans to raise the nation’s debt ceiling, showing a major discord on Capitol Hill with eight days until the United States defaults on its $14.3 trillion debt.
Senate Majority Leader Harry Reid (D-Nev.) began to draft his own legislation Sunday that would slash at least $2.5 trillion to match an extension of the nation’s borrowing limit through the 2012 election, leadership aides said. Reid and House Minority Leader Nancy Pelosi are heading to the White House at 6 p.m. to meet with President Barack Obama.
(Excerpt) Read more at politico.com ...
Rush will be back tomorrow. Looking forward to hearing his analysis!
http://nhregister.com/articles/2011/07/24/news/doc4e2c88db1043b715230877.txt
WHOA! Look at the schnoz on that thing!
Helen Thomas has some *serious* competition.
About time. It will be interesting to see what he comes up with. Finally, we get to see what the Dems would do to reduce spending. You can bet there will increased taxes and major cuts in defense. Entitlements won't be touched.
Never again will I believe the cry of "Wolf!"
Even if it does escape the lips of a very beautiful woman, which neither Reid nor Obama are.
Obama simply must have more money to hand out, its the reason for the "end of the world!"
Its already been said:
He’ll take the repubican plan, use some whiteout to cover Boner’s name, then write his own name on it and call it his plan.
Gold is up $16 to a new high of $1618
It varied by $12 on Friday. So it’ll be interesting to see the price when the U.S. market opens.
Fake Default Date. Fake Panic. Need we say more.
Obama golf handicap has to be going way up over all these missed golfing days , well maybe not I bet he cheats on the course.
UP $21! Both gold and silver up 1.3%.
When they talk 14 or 15 trillion; they are talking GDP; not actual debt. The actual debt is 52 trillion.
Compound interest is threatening to swamp our entire system.
These guys should be in prison.
That is something Biden would do.
It appears the gold markets are saying they have no faith in Washington fixing the problems they have created other than by printing some more worthless paper dollars.
Obama, Pelosi and Reid to decide whether to put the US government into Chapter 11 bankruptcy...
This ain’t going the way Obama WANTED it to go; the way it was supposed to go. He and the Democrats are just LIVID and panicked. I guess they think the election in November was just a fluke that meant we appreciated Obama’s imperial attitude. - We didn’t. We ARE Taxed Enough Already, and tired of this “let them eat cake” attitude exhibited by Obama, and Pelosi before him. PELOSI and REID presided over this slide into the old potty drain.
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