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White House, Republicans Strike Tenative Deal To Raise Debt Ceiling
ABCNews ^ | July 30, 2011 | Jonathon Karl

Posted on 07/30/2011 8:21:33 PM PDT by Beaten Valve

ABC News has learned that Republicans and the White House have struck a tenative deal to raise the debt ceiling before the Aug. 2 deadline.

It's not done yet, but here is the framework of the tentative deal they have worked out, according to a source familiar with the negotiations:

(Excerpt) Read more at blogs.abcnews.com ...


TOPICS: Breaking News; News/Current Events; US: District of Columbia
KEYWORDS: debtdeal; debtdealcavein; debtdealshowdown; debtgraphics; deficit; deficitgraphics; democrats; republicans; taxes; whitehouse
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To: All
Forgot this little exponential gem:

So, any guesses on where this number will be in 10 years without a Sarah Palin or Phase II? . . Your grandkids and generations unborn are going to Pay and Pay Big. . .

301 posted on 07/30/2011 10:11:58 PM PDT by Art in Idaho (Conservatism is the only hope for Western Civilization.)
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To: Perdogg; arrogantsob; jeltz25; Marine_Uncle; ding_dong_daddy_from_dumas; stephenjohnbanker; ...
RE :”If this bill is killed, I could care less, the debt ceiling is not raised.

Really? What if the whole planet blows up on Tuesday? Want to risk that? Maybe this fellow can change your mind, he sounds so reasonable :)

Debt Ceiling Was Raised 18 Times Under President Reagan And 7 Times Under George W Bush (Obama , July 30, 2011 CNBC )

Obama demands a clean debt limit large enough to last till 2013 (with no spending cuts since time is so short) if you listen closely, That was his opening demand before his phony 'negotiations'.

302 posted on 07/30/2011 10:12:31 PM PDT by sickoflibs (If you pay zero Federal income taxes, don't say you are paying your 'fair share')
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To: Art in Idaho

Thanks for posting the graphics. Republicans should put these in their ads, instead of being so timid.


303 posted on 07/30/2011 10:14:11 PM PDT by Clairity ("The United States needs to be not so much loved as it needs to be respected." -- VP Dick Cheney)
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To: Perdogg

One tenet from the article..

The formation of a special Congressional committee to recommend further deficit reduction of up to $1.6 trillion (whatever it takes to add up to the total of the debt ceiling increase).  This deficit reduction could take the form of spending cuts, tax increases or both.

Man oh manochevits!


304 posted on 07/30/2011 10:19:36 PM PDT by DoughtyOne ($1.8 tril yearly deficits = $18 tril in ten years. So now we're proposing $4 tril in cuts? Really?)
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To: TexasFreeper2009
It's not a win for our side, there's no transparency in the process and there's a whole lot of hysteria about meeting phony deadlines to avoid default.

Raising the debt limit is the coward's way out.

Doing so, it gives an excuse for Obama and the establishment Republicans in power to do two things, raise taxes and spend more.

The stalemate is getting spending under control. Not going in to default or raising the debt limit. Only Obama can take this country in to default and only big government types can see raising the debt limit as a solution to the problem. 

Both sides are working this issue through the prism of re-election.

Neither side want to make the tough decision about targeted and specific spending cuts.

305 posted on 07/30/2011 10:21:07 PM PDT by BigSkyFreeper (You have entered an invalid birthday)
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To: Beaten Valve

We’ll be right back here in 24 to 36 months, and our national debt will be $17 trillion plus.

Really nice work. /$


306 posted on 07/30/2011 10:22:09 PM PDT by DoughtyOne ($1.8 tril yearly deficits = $18 tril in ten years. So now we're proposing $4 tril in cuts? Really?)
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To: Qbert

‘I didn’t realize I was addressing an Establishment groupie.’

If more than 50 years as part of the conservative movement and a lack of tin foil makes me an Establishment groupie I guess that is true. It is also true that the last time an American political party was as conservative as the current GOP Calvin Coolidge was President.


307 posted on 07/30/2011 10:22:47 PM PDT by Lucius Cornelius Sulla (Liberty and Union, Now and Forever, One and Inseparable -- Daniel Webster)
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To: Clairity
Thanks for posting the graphics. Republicans should put these in their ads, instead of being so timid.

You're welcome Clairity! I've always been a believer in scientific truthful graphs. . they don't lie, . . "it's the dater stupid" as one prof from Boston said . .

Pass em' on and get em' in the campaign!

308 posted on 07/30/2011 10:25:24 PM PDT by Art in Idaho (Conservatism is the only hope for Western Civilization.)
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To: EternalVigilance

‘If a BBA is part of this deal, it means exactly NOTHING’

Gosh, I never knew that supporting the Balanced Budget Amendment made you a liberal. On the other hand, until you pointed it out, I didn’t know that Justices Thomas, Scalia, Alito and Roberts were also liberals.


309 posted on 07/30/2011 10:26:52 PM PDT by Lucius Cornelius Sulla (Liberty and Union, Now and Forever, One and Inseparable -- Daniel Webster)
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To: EternalVigilance

Yes, there are some liberals on the court but if you think Scalia, Alito and Roberts are liberals you are nuts. I know for damn sure Ginsberg, Kagan, Sotomayer are and keeping Obama in office means more are going to be nominated.

There is a difference


310 posted on 07/30/2011 10:27:02 PM PDT by SideoutFred (B.O. Stinks...it really does)
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To: Lucius Cornelius Sulla

Agreed. Given where we began - and who’s in the White House - this is a huge win for Republicans.

No tax increases. A two vote process. Dollar for dollar match of spending cuts for limit increase.

Best that could be done until 2012. I mean - the alternative isn’t this or some magic world where the budget can suddenly be cut 40%. The alternative is financial panic, followed by enough moderates peeling off to pass something better for the Democrats.


311 posted on 07/30/2011 10:29:05 PM PDT by furquhart (Would it not be easier to dissolve the people and elect another?)
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To: Terry Mross

We’ll see. I don’t think we could possibly have as bad a candidate as McCain.

Secondly, the press did NOTHING to vet Obama in 2008. We were coming off a disaster with Bush and people pissed about the wars. Obama will own this economy, his golden halo is long gone and euphoria about electing the first African American will be gone. This time around, people that actually voted for him might look for some substance, something many independents and even some Democrats now realize he never had but were caught up in the moment.

He needs a major turnaround to get elected unless we’re stupid enough to put someone like Bachmann or Palin in there, in which case he will coast to victory.


312 posted on 07/30/2011 10:29:54 PM PDT by SideoutFred (B.O. Stinks...it really does)
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To: SideoutFred

‘He needs a major turnaround to get elected unless we’re stupid enough to put someone like Bachmann or Palin in there, in which case he will coast to victory.’

I get the feeling that this thread is about to get even more interesting.


313 posted on 07/30/2011 10:32:14 PM PDT by Lucius Cornelius Sulla (Liberty and Union, Now and Forever, One and Inseparable -- Daniel Webster)
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To: DoughtyOne

Yes, but by extending it now, hopefully in 24 to 36 months we will be back with a GOP in the WH and a GOP Senate and House to make REAL cuts.

If we defaulted, Obambi wins the WH, keeps the Senate and likely wins back the House.

Think about it


314 posted on 07/30/2011 10:33:51 PM PDT by SideoutFred (B.O. Stinks...it really does)
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To: SideoutFred

Winning the Senate means nothing.

The Dems will have 40+ votes and can stop anything via filibuster.


315 posted on 07/30/2011 10:35:24 PM PDT by Owen
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Where’s FOX News on this? Please decipher........


316 posted on 07/30/2011 10:36:08 PM PDT by NoRedTape
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To: All
Oh, and speaking of debt, deficits, caps, spending and all, what about the fact the biggest government revenue source is people that are employed, i.e., how's that Job thing workin' out for ya' America?

What, private jobs are down? Small business has too many rules and regulations? . . But we did the stimulus!. . and, er, ugh, We have more government jobs, and, and, . .

Quiet you fool. . Free enterprise, free market capitalism is the biggest producer of jobs and government revenue. I wonder if they know American business has Gone Galt? Shhhh, don't tell them. . .

317 posted on 07/30/2011 10:36:25 PM PDT by Art in Idaho (Conservatism is the only hope for Western Civilization.)
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To: furquhart
Dollar for dollar match of spending cuts for limit increase.

If the dollars spent are for 18 months and the dollars saved are over ten years, it's a 15% ratio (interest excluded). Plus it's all based on rate of growth with NO ACTUAL cuts.

Definitely not a win for anyone outside the beltway. Just sayin'

318 posted on 07/30/2011 10:39:06 PM PDT by Mensius
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To: Perdogg

I agree with your analysis. Freepers are so used to being stabbed in the back and screwed over by the fGOP (formerly Grand Old Party) that they are reacting in knee-jerk fashion.

And I can’t blame them...


319 posted on 07/30/2011 10:41:11 PM PDT by piytar (The Obama Depression. Say it early, say it often. Why? Because it's TRUE.)
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To: Lucius Cornelius Sulla

“If more than 50 years as part of the conservative movement and a lack of tin foil makes me an Establishment groupie I guess that is true.”

It sounds like you are confusing being a Republican with being a Conservative.

I’ll grant we don’t know all the details yet, but it’s highly unlikely that Conservatives will support this mess.


320 posted on 07/30/2011 10:42:01 PM PDT by Qbert ("The best defense against usurpatory government is an assertive citizenry" - William F. Buckley, Jr.)
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