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Obama, Congress reach a debt deal
Associated Press ^ | July 31, 2011 | DAVID ESPO

Posted on 07/31/2011 5:58:37 PM PDT by 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.

(Excerpt) Read more at hosted.ap.org ...


TOPICS: Breaking News; News/Current Events
KEYWORDS: 0bamarigged; 112th; bho44; boehner; debt; fedzilla; gop4obama; gopsellouts; mcconnell; obamarigged
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To: stockpirate

They fall for it every time.

81 posted on 07/31/2011 6:34:17 PM PDT by McGruff (Hold The Line!)
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To: IllumiNaughtyByNature

unless Boehner can pull something out of his ass other than the DEM dildo they’ve been assaulting him with.
= = = = = = = = = = = = = = = = = = = = = = = = = = = = = =

It is no longer assault once the receiver begins to like it and asks for more .....


82 posted on 07/31/2011 6:34:23 PM PDT by xrmusn ((6/98) We have got to get serious about 'retiring' the present House and Senate.)
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To: usconservative

Our Children and Grandchildren are screwed.

I was just thinking this while checking in on my sleeping daughter. What the hell have we sentenced them to? What kind of country are they gonna have when we’re gone? I want her to have a better life than mine and I think she is gonna have a harder time because of all the debt we are saddling them with. It’s depressing. Sometimes I have to check out and turn off ALL the news just to hold onto some semblance of sanity.


83 posted on 07/31/2011 6:34:27 PM PDT by hillarys cankles
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To: LibsRJerks
Ok, great. Gives us more time to prep, purchase food, ammo, guns, etc.

You are correct sir. Sooner or later, it will spill into the streets, just like Greece and other places. I am sure you're keeping your powder dry.

84 posted on 07/31/2011 6:35:04 PM PDT by Mark17 (California, where English is a foreign language)
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To: parksstp
Is “RINO” a legitimate term anymore?

I've been wondering that myself. Since the Republican Party has become nothing more than Democrats Lite, the few true conservatives in the party might, in fact, be the real "RINOs" now.

In any event, as you say, we're screwed.

85 posted on 07/31/2011 6:35:47 PM PDT by Fresh Wind ('People have got to know whether or not their President is a crook.' Richard M. Nixon)
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To: Twinkie

Am I?


86 posted on 07/31/2011 6:36:38 PM PDT by Errant
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To: Miss Didi
I remember how Boehner was trumpeting how much he cut in the last agreement, and, upon closer inspection, it ended up being peanuts. Based on this, I have no confidence in his pronouncements on this "deal".

FWIW, I just looked at Twitter, and this deal is not trending. I honestly think most Americans don't care about this. Obama (and Boehner) may end up being sorely disaapointed.

87 posted on 07/31/2011 6:37:03 PM PDT by Major Matt Mason (“I must confess, when I see anyone with an Obama 2012 bumper sticker, I recognize them as a threat")
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To: mrs9x

Absolutely. We need all 3 to get these back on track. And the first thing....get rid of Obamacare.


88 posted on 07/31/2011 6:37:39 PM PDT by Sacajaweau
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To: mrs9x
Doesn't really make any difference at this point as the Interest Expense on the Debt is what is critical.
As the debt keeps expanding, and at some point the downgrade will happen, interest rates as they go up increase our borrowing costs.
Finally we get to where all monies got to debt service, long before then we have to Default. No where out of the box.
89 posted on 07/31/2011 6:38:09 PM PDT by Captain Peter Blood
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To: Free ThinkerNY

We borrow $4B per day, and are cutting $4B per year?!?!?! WTF! Bring the Connie Mack Penny Plan up for a vote!!!!!


90 posted on 07/31/2011 6:38:09 PM PDT by SERKIT ("Blazing Saddles" explains it all......)
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To: Free ThinkerNY
Sure, the deal is still not good enough to fix what ails, but my goodness, the liberals and democrats I know are LIVID with Obama and the DC Democrats. They completely think they got screwed, and that the GOP won this one.

Its funny, I dont know whose more despondent, Liberals or Freepers.

91 posted on 07/31/2011 6:39:23 PM PDT by Paradox (Obnoxious, Bumbling, Absurd, Maladroit, Assinine)
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To: Free ThinkerNY

The US govt still plans to spend 2 trillion dollars a year, every year, more than it takes in. Where is the difference coming from? Borrowed from the Chinese. If they stop lending us [=stop buying our treasuries], do you think the govt will stop spending? We all know the answer, as announced by Ben Bernanke very publicly. We will have QE2, then QE 3,4,5 etc. Which means printing mountains of money, which means hyperinflation, which means collapse of our economy


92 posted on 07/31/2011 6:39:32 PM PDT by wolfman
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To: parksstp
"I don’t even know if a third party would work.

At this point a separate Tea Party is the ONLY way to go. If they lose at least our votes weren't thrown away. We will have voted for the right thing. Voting Republican is simply meaningless now. They're not called the stupid party for nothing. The Dems have got to be laughing their butts off right about now.

93 posted on 07/31/2011 6:40:27 PM PDT by Graneros ("It is no exaggeration to say that the undecided could go one way or another.")
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To: EternalVigilance
TRILLIONS more borrowed funds to expend to try and get reelected.

Not to mention push their agendas like Agenda21, Control of the Internet, ...)

94 posted on 07/31/2011 6:40:27 PM PDT by Errant
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To: MichaelNewton

Here’s a detail for you. The bill includes a grand total of $4B in supposed cuts next year, which is pretty much the only timeframe this congress can influence re: cuts anyway.


95 posted on 07/31/2011 6:41:32 PM PDT by 9YearLurker
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To: Free ThinkerNY

I won’t believe a deal’s been reached until it passes The House. Obama has claimed a deal has been reached in the past when there wasn’t a deal. BO lies.


96 posted on 07/31/2011 6:41:35 PM PDT by freedom1st
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To: hillarys cankles
"Our Children and Grandchildren are screwed."

I hate to say it, but most of the young ones I see don't care a rats ass about anything except don't take away their cell phones, game boys, and facebook.

97 posted on 07/31/2011 6:41:48 PM PDT by Spunky (“To compel a man to subsidize with his taxes the propagation of ideas which he disbelieves and abh)
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To: Paradox

That’s a good sign it’s a decent compromise, I just hope it’s enough to keep the wheels on the wagon.


98 posted on 07/31/2011 6:42:20 PM PDT by Future Snake Eater (Don't stop. Keep moving!)
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To: Founding Father
"Speaker Cave-In, “we got 98% of what we wanted.”

Remember, the Speaker got "we" want. The definition of "we" is "The Ruling Class" or "The Progressives". The Speaker is telling the truth, the ruling class got 98% of what they wanted, Americans got the shaft.

Primary out the traitors.

99 posted on 07/31/2011 6:42:30 PM PDT by The Theophilus (Obama's Key to win 2012: Ban Haloperidol)
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To: Mustangman

One of the few best postings I really like.


100 posted on 07/31/2011 6:44:35 PM PDT by Biggirl ("Jesus talked to us as individuals"-Jim Vicevich/Thanks JimV!)
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