Posted on 07/17/2011 12:10:06 PM PDT by Qbert
An Obama administration official said Sunday morning that while a deal hasn't been struck by congressional leaders and the White House progress is being made.
Jacob Lew, White House budget director, said progress is reflected in increased activity in talks between Senate Minority Leader Mitch McConnell (R-Ky.) and Senate
Majority Leader Harry Reid (D-Nev.) and a realization by most lawmakers that a debt ceiling increase must happen before Aug. 2.
"It's not insignificant that all leaders understand that it would be irresponsible to get to Aug. 2 and not extend the ability of the United States to pay its debt," Lew said on CNN's State of the Union.
He said most lawmakers are on board and understand the need to raise the debt ceiling although there will be a "fringe that believes that playing with armageddon is a good idea but I don't think that's where the majority will be."
"We have to make sure that at a minimum Congress has a way to take action and avoid default on the U.S. debt," Lew said.
"We have to avoid the kind of chaos that would result from default."
He didn't know when the next meeting would take place between the White House and congressional leaders.
Despite the stalemate between Democrats and Republicans on an agreement that would cut spending, reduce the deficit and raise the debt ceiling, Lew expressed confidence in Washington leadership to take action before the deadline.
Without an increase in the debt ceiling, the nation risks a quick rise in interest rates, another hit to the already slowing economic recovery and "chaos" in U.S. and world markets.
"It's not an option," he said.
He reiterated that the administration doesn't have any payment priority plans if the nation goes into default.
Getting into the business about setting spending priorities "misses the fundamental question which is it's unacceptable for the United States to be in a place where its a Social Security recipient or a soldier or someone owed money by the government can't be paid because we haven't done our job," he said.
"We're ready to deal with whatever happens but the truth is this is a different situation than the United States has ever faced where we couldn't pay our bills."
Move that garbage forward to the crapper, and hope it doesn’t plug up the works.
DOA in the House.
Shouldn’t this originate in the House anyway? ....
>> it would be irresponsible to get to Aug. 2 and not extend the ability of the United States to pay its debt
“Irresponsible borrowing” is re-framed as “extending the ability to pay our debts”.
How orwellian.
>> fringe that believes that playing with armageddon is a good idea
PROUD TO BE A MEMBER OF THAT FRINGE!
I wonder where I can get a patch for my jacket.
That ass RINO McConnell drove open a gap and the dems are going to use it to pin the house conservatives against a wall. What an jerk.
Fired off another E mail to Rubio today: NO DEAL, period, end of story.
If they allow this to pass, they may as well just go home and vote absentee because they are doing none of us any good up there.
Meanwhile, regardless of the ceiling being raised, don’t they have to have spending authorizations to do it and how do you do one without a budget?
“DOA in the House.”
I sure hope so.
I mean, when you think about it- what option do the Senate Democrats really have other than to go along with a bill that passed in the House? If the House Republicans pass “cut, cap, and balance” or something similar, and the Dems reject it- then it’s the Senate Dems who are voting to default.
It looks to me like McConnell is willing to ensure the collapse of the US economy under the crushing weight of the debt just as long as Republicans don’t get the blame.
If I’m wrong, I’m always willing to be educated.
“Which raises the question of what’s happening with the budget these days. Nothing, apparently.”
The budget will be the next thing that McConnell will want everybody to cave on.
Two Demwits quoted, no one else, no analysis, no background, no description of the proposals. Another Partisan Media Shill. Thanks Qbert.
“All the leaders”, really?
The people are the leaders, these representatives are supposed to do what the people want
““Irresponsible borrowing” is re-framed as “extending the ability to pay our debts”.
How orwellian.”
Good point. (And the “savvy negotiator” does nothing to address that lie, of course.)
The McConnell idea allows Barkey to raise the debt ceiling WITHOUT any Republican votes. The result is; the GOP has nothing to do with it and tax increases of any kind are separated from the ceiling (and thus DOA.)
I would prefer a confrontation but it doesn't appear that's going to happen.
Why do I get this feeling that when Harry Reid and Mitch McConnell get done with me I will need to be tested with a rape kit./
OH, PLEASE. I mean come on. This jerkoff administration has been lying over and over...why should they be believed NOW?
They’ve been saying they’ve been close constantly, and they’ve been lying.
For God’s sake. Hussein said 80% of America agrees with him. Lie.
Don’t believe the Hill repeating Hussein’s spokesdork’s words.
The whole thing is insane.
1. Overturn Obamacare.
2. Freeze Federal Pensions.
3. Do away with Capital Gains Tax.
Do away with death tax.
4. SS...Do away with the ridiculous $255.00 death benefit.
5. Do away with Head Start
6. Do away with FREE breakfasts at school...Milk or nothing!!
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