Obama, Congress reach a debt deal

Associated Press ^ | July 31, 2011 | DAVID ESPO

[Free ThinkerNY]

WASHINGTON (AP) -- Racing the clock to avoid a government default, President Barack Obama and Republican congressional leaders reached historic agreement Sunday night on a compromise to permit vital U.S. borrowing by the Treasury in exchange for more than $2 trillion in long-term spending cuts.

[hsalaw]

Oh, so now it’s OBAMA’s deal? Where’s he been for the last week?

[IllumiNaughtyByNature]

$2 trillion in long-term spending cuts.

WTF?

[Pearls Before Swine]

Oh, so now it’s OBAMA’s deal? Where’s he been for the last week?

Maybe he's been the puppeteer pulling Reid's strings. OTOH, maybe he's just been golfing.

[tsowellfan]

And it’s Europe’s war in Libya until there’s a victory. Then it’s Obama’s.

[buccaneer81]

We’ve been sold out just as I knew we’d be.

[Carling]

This can't be true, can it? Even the congressional Dems are questioning OBummer’s leadership. If McConnell and Boehner fold, they have just destroyed not only their careers, but also their own party.

[Errant]

[buccaneer81]

$2 trillion in long-term spending cuts.

Nope. ONE trillion. By a "committee" that doesn't even exist.

We got screwed.

[SharpRightTurn]

“$2 trillion in long-term spending cuts.”

Spend now, let the grandkids pay later.

Anything to get past the next election.

Real statesmanship, huh?

[madprof98]

LONG-term??? Forgotten next week, if not sooner.

[Bobby_Taxpayer]

AND he is on his balanced more taxes BS! Watch out Pubies, Its a trick!

[paul revere is riding]

the cuts are to the Pentagon and Medicare

[IllumiNaughtyByNature]

yes, because no congress has to abide by a previous congress’ budgets. EPIC FAIL unless Boehner can pull something out of his ass other than the DEM dildo they've been assaulting him with.

[Psycho_Bunny]

More treason.

[IllumiNaughtyByNature]

yes, because no congress has to abide by a previous congress’ budgets. EPIC FAIL unless Boehner can pull something out of his ass other than the DEM dildo they've been assaulting him with.

[freedumb2003]

as soon as barry the zero said the magic term “their fair share” I knew the Republicans had caved.

[EDINVA]

I ALMOST turned the tv on, but not that anxious to see POTUS taking credit for what he didn’t do .. AGAIN. Will follow FR for what’s really going on.

[Dem Guard]

Practicing posing.

[Candor7]

Not so fast. I want tehe tea party freshemen in the house to
read tghis peice of offel before anyone toutes a deal.

There is NO DEAL until it passes the House.Obama is an idiot. Boehner has proven he is not much better.We now know where our conservative loyalties should lie.

[rjsclassics]

Rush warned and predicted the Republicans would be sucked in and the entire charade would become the “Obama” deal.

[Terry Mross]

msnbc-$1 trillion
cnn-$3 trillion

And cnn saying military could not be paid on Aug 15 if this deal isn’t approved.

So now boner has to get in bed with nancy. I’ll be she’ll make him cry.

[TomServo]

This is suicide - only the slow painful version.

[popdonnelly]

Obama didn’t do squat. He’s trying to save face.

[Arm_Bears]

The big lie in this whole drama has been the spectre of “government default.”

Zero himself told the big money banks that there was no chance of a default.

As usual, the Pubs lost control of the narrative—Hell, their “leaders” kept invoking the term to bludgeon their own caucus into line.

[ladyjane]

the cuts are to the Pentagon and Medicare

Anybody who votes for these cuts BEFORE welfare benefits are cut will be targeted.

[Fresh Wind]

Government spending will continue unabated, out of control.

Since government spending is considered to be part of the GDP, the latest spending spree will serve to pump up the already phony GDP numbers, to keep the so-called “recovery” alive until the next election.

FUBO, and every one of your posse of Rats’n’RINOs.

[REDWOOD99]

This is hilarious! Obama throws Dingy Harry under the bus to salvage some sort of relevance.

I shudder to think what any of this would look like if we hadn’t busted our asses during the 2010 elections.

Saddle up! We got work to do.

[Mogollon]

It won’t pass in the house when they vote on it tomorrow. This is AP...

[cookcounty]

Where’s the other $2 Trillion? And what’s on the front end????

[Founding Father]

Speaker Cave-In, “we got 98% of what we wanted.” Wrong, Boner, we got shafted by the republicans again.

This is line by line B.S.

[2ndDivisionVet]

http://www.LivingInThePhilippines.com

[redgolum]

What are the details? Long term cuts means, nothing.

[LibsRJerks]

Ok, great. Gives us more time to prep, purchase food, ammo, guns, etc.

[Huskrrrr]

to permit vital U.S. borrowing by the Treasury in exchange for more than $2 trillion in long-term spending cuts.

Borrowing generally implies an intention for paying it back someday.

[stillafreemind]

If I’m hearing him right, Huckabee is saying that pubs got 98% of what they wanted!?!?! He thinks this is the balanced budget to be signed.

Me? I say it has not even been voted through yet..Bama is counting his chickens before they are hatched. I’d love to see him get embarrassed for announcing something he says is done, but in reality..it hasn’t even been passed yet.

We’re going to get downgraded anyway..why sign this puke bill on top of it?

[parksstp]

Is “RINO” a legitimate term anymore? Seems like they outnumber conservatives in Congress time and time again, even when we try to correct this via the Primary process.

I don’t even know if a third party would work. If it failed, all conservative representation could be lost. If it succeeded, you’d have *RINOS* from the GOP jumping ship to cash in on the success.

We’re screwed. Until we get people we can trust in leadership positions, we’re just flat out screwed.

[ncalburt]

well K street demands the cash to keep flowing so Bonehead and Mitchy followed their orders and kept the money flowing to their real bosses on K street.
We were screwed as usual and one week from now we will find out what a disaster the deal was !

We need to drive the K street puppets Bonehead and Mitch from office ! >

[usconservative]

Our Children and Grandchildren are screwed.

[Atlas Sneezed]

Ok, great. Gives us more time to prep, purchase food, ammo, guns, etc.

---

Silver and gold are down about 1% on the news (unimpressive) in the overseas markets. Silver is a better buying opportunity IMHO.

[ken21]

aren’t we lucky?
/s

[Siegfried X]

This is a good deal for Republicans, the best that was possible in the real world. If we want deeper cuts then we need to elect enough conservatives that they control the White House and both houses of Congress. Anyone who thought otherwise either hasn’t read the constitution or lives in a fantasy world.

[MichaelNewton]

I will wait to hear the details before I start complaining about this “compromise.”

Whatever we get, just think about how much worse it would be without our activism and votes. Without us, they would have raised the debt ceiling, increased spending, and raised taxes. We made a difference, though probably not enough of one. We have 2012 to look forward to and work hard on.

[Evil Slayer]

Let’s see. We fought the Revolutionary War to be a Free Republic and not ruled by the King of England. We won that war. Now, we suddenly have a king named Hussein who with the stroke of a pin wiped out our Free Republic without a shot being fired. This doesn’t sound good.

[ncalburt]

If Huck is happy then it was a real sell out !

[Hillary's Folly]

I'm shocked. just shocked... go figure a deal at 840 pm on sunday. seen this movie before. buy buy buy... http://www.reverbnation.com/harrismoore

[Captain Peter Blood]

What all this means is that we will Default.
If they are increasing the Debt ceiling they will spend it.
Interest Expense on the Debt exponentially expands, as higher interest rates finally come the money to pay the interest on the debt outstrips everything else.
Default is coming, no way out of the box now.

[Redcloak]

Is KY-jelly involved?

[no-to-illegals]

Waiting to see if maybe zer0 has been setup. zer0 isn't the brightest bulb in the room ... just because zer0 thinks he is the brightest bulb .... does not make it so.