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GOP readies new debt ceiling plan; bill set for Sunday
Wash Examiner ^ | 7-23-11 | Byron York

Posted on 07/23/2011 9:42:37 PM PDT by STARWISE

House Republicans are finishing work on a new proposal to resolve the standoff over the debt ceiling. The proposal, set to be finished and crafted into the form of a bill by Sunday, will be in two parts. The first will combine a short-term increase in the debt ceiling with spending cuts.

The second will lay the groundwork for a longer-term increase in the debt ceiling coupled with far-reaching deficit reduction.

"Senator Reid said on Friday that he is going to wait for us to move," says a well-informed GOP House aide. "So we'll move." Another well-informed aide confirmed the basic outline of what's happening.

Staff of the House Rules Committee is involved in the work, which is an indication that the process is nearing completion.

Before any bill can be considered on the House floor, the Rules Committee must first pass a rule setting out the process for its consideration. Once the proposal is finished, it would likely be posted on the Rules Committee website, probably no later than Monday, so the committee could meet to consider it on Tuesday and it could be on the House floor by Wednesday.

Work on the new proposal was underway before negotiations with the White House blew up on Friday. Sources say the plan was being created last week, even as the House leadership devoted considerable time to passing the "Cut, Cap, and Balance" proposal.

Once the Senate Democratic leadership blocked "Cut, Cap, and Balance," House leaders stepped up work on the new proposal. Right now, the new direction is believed to be the only way forward. "McConnell-Reid is just not a viable option in the House," the aide says, referring to Senate Minority Leader Mitch McConnell's complicated proposal to allow the president to increase the debt ceiling.

In a 2 p.m. Saturday conference call with Republicans, House Speaker John Boehner said that a new proposal was in the works, and that it would have two parts, but did not go into significant detail about what it would involve.

Boehner told his fellow GOP lawmakers that he hoped to have something done by 4 p.m. Eastern Time on Sunday in time to reassure Asian financial markets, which open at that time.

It's unclear whether the new proposal would have any Democratic support.

After a meeting between Boehner, McConnell, Reid, and House Minority Leader Nancy Pelosi, Reid released a statement saying, "I have said repeatedly…that I will not support any agreement that fails to raise the debt ceiling though the end of 2012." Asked about possible Democratic support, another Republican aide said flatly: "I don't know."


TOPICS: Front Page News; Government; News/Current Events; Politics/Elections
KEYWORDS: boehner; congress; debtceiling; default; dingy; economy; socialism; taxes
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Cut, Cap and Balance was the way, but the dems could not allow a sensible bill to even come up for a vote. After all this, whatever happens, bozo will still whine, point fingers, and act like the arrogant adolescent he is.

I'm assuming this would go to the House first and then the Senate?

God save America.

1 posted on 07/23/2011 9:42:41 PM PDT by STARWISE
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To: onyx; penelopesire; maggief; hoosiermama; SE Mom; Fred Nerks; Red Steel; seekthetruth; ...

.. Ping!

Boehner will be on Fox News Sunday in the am.


2 posted on 07/23/2011 9:44:03 PM PDT by STARWISE (The overlords are in place .. we are a nation under siege .. pray, go Galt & hunker downa)
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To: STARWISE
I'm assuming this would go to the House first and then the Senate?

Correct.

3 posted on 07/23/2011 9:45:20 PM PDT by BigSkyFreeper (You have entered an invalid birthday)
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To: STARWISE

raising the cap, means borrowing trillions more dollars. which must be paid back with interest.

the “cuts 4 trillion over the next 10 years” nonsense,
doesn’t even take care of the extra interest payments.

the cap should NOT be raised, unless the cuts are monumental. like returning to the 2001 budget, which was about half of now.


4 posted on 07/23/2011 9:48:06 PM PDT by Elendur (the hope and change i need: Sarah / Colonel West in 2012)
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To: STARWISE


Yes, but what does thumb puppet have to say?
5 posted on 07/23/2011 9:49:34 PM PDT by quantim (Victory is not relative, it is absolute.)
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To: BigSkyFreeper

Thanks, BSF .. wonder if the racial, entitlement, radical, thugs will vote it down in the senate.


6 posted on 07/23/2011 10:00:19 PM PDT by STARWISE (The overlords are in place .. we are a nation under siege .. pray, go Galt & hunker downa)
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To: BigSkyFreeper; Elendur; quantim; All

Other article

Excerpt:

By evening, the outlines of a two-stage strategy were emerging. First, lawmakers would vote on a package to cut agency spending by as much as $1 trillion over the next decade and raise the debt limit, currently set at $14.3 trillion, by the same amount. That would give Geithner enough borrowing authority to cover the nation’s bills through this year.

Then Congress would go to work to produce as much as $3 trillion in additional savings through an overhaul of the tax code and major changes to Social Security and Medicare.

Rest
http://www.startribune.com/politics/national/126066193.html

Sure doesn’t sound like we’re holding anyone’s feet much to the fire, but bozo has to sign whatever is passed, or else, even if it’s not thru the election ... which is his only agenda.


7 posted on 07/23/2011 10:05:25 PM PDT by STARWISE (The overlords are in place .. we are a nation under siege .. pray, go Galt & hunker downa)
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To: STARWISE

The Senate voting it down is a given. The Democrats and some Republicans have put themselves above country.


8 posted on 07/23/2011 10:15:12 PM PDT by BigSkyFreeper (You have entered an invalid birthday)
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To: Elendur
the “cuts 4 trillion over the next 10 years” nonsense,
doesn’t even take care of the extra interest payments.

They'll squander $400 billion in a day at the drop of a hat.  In fact they did worse than that by passing Obamacare.

9 posted on 07/23/2011 10:19:15 PM PDT by BigSkyFreeper (You have entered an invalid birthday)
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To: BigSkyFreeper

This time, I don’t see Republicans being the obstacle. GOP gang of six etc will likely vote for this as they voted for CC&B. It is the Senate Dems that will stop it, if it is stopped.


10 posted on 07/23/2011 10:21:24 PM PDT by txrangerette ("...HOLD TO THE TRUTH; SPEAK WITHOUT FEAR." - Glenn Beck)
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To: STARWISE

Senator Reid said on Friday that he is going to wait for us to move,”

I may be in a minority, but I think things have shifted due to Obama’s bizarre TV appearance the other night. Reid is nervous, because with Obama proclaiming doom, the Republicans will be able to say “This is YET ANOTHER plan we’ve come up with, and Obama and Reid have said ‘no’ again!’

The Democrats are becoming The Party of No.


11 posted on 07/23/2011 10:22:14 PM PDT by Darkwolf377 (``Stupidity is also a gift of God, but one mustn't misuse it``-Pope John Paul II)
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To: STARWISE
"McConnell-Reid is just not a viable option in the House," the aide says

I had a feeling that the Speaker didn't really think that was a good idea when it was floated, but he was being diplomatic. I am totally impressed by him thus far.
12 posted on 07/23/2011 10:35:23 PM PDT by andyk (Interstate != Intrastate)
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To: STARWISE

Smell the multi-stage debt ceiling hikes and tax hikes, yet?


13 posted on 07/23/2011 10:45:09 PM PDT by familyop ("Plan? There ain't no plan!" --Pigkiller, "Beyond Thunderdome")
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To: STARWISE

This short on details plan almost certainly sucks!

My concerns include:

My Take: I've been burned so many times in the past, I'm not going to believe anything until I see it ... in action. And maybe we need to work on a lot more RINO primary targets and/or start organizing a third party and/or both!
14 posted on 07/23/2011 10:52:17 PM PDT by Zakeet (The Wee Wee's real birth certificate got shredded with his Rezko mortgage records)
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To: STARWISE
Boehner told his fellow GOP lawmakers that he hoped to have something done by 4 p.m. Eastern Time on Sunday in time to reassure Asian financial markets, which open at that time.

W. T. F. !!! Who gives a crap about Asian financial markets? Sounds like Geithner is trying to scare his ass, just as that douchebag Pauslon did over TARP.

15 posted on 07/23/2011 11:10:29 PM PDT by montag813 (SECURE THE BORDER! http://www.StandwithArizona.com)
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To: STARWISE

How about eliminating Obamacare as part of the package?


16 posted on 07/24/2011 12:00:36 AM PDT by Defiant (Our liberties are inalienable, even if Obama thinks otherwise.)
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To: STARWISE

Wah, Wah, Wah!

It was the best deal we could realistically get.

We’ll have to work on this in the coming years.

It’s not a fix that can be done over night or in one single event.

Where’s my Memosa?


17 posted on 07/24/2011 12:06:15 AM PDT by Vendome ("Don't take life so seriously... You'll never live through it anyway")
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To: STARWISE

Boehner needs to also bring up a bill that says interest on the debt, Social Security, Medicare, and military pay and benefits SHALL be paid in full from current income and if there is any money left over other expenditures shall be funded proportionateley. He needs to pass it and send it to the Senate before sending any plan to raise the debt limit.

Let the Democrats vote against paying Social Security and Medicare if they dare. Let president Flapper veto it.


18 posted on 07/24/2011 12:23:18 AM PDT by SUSSA
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To: Zakeet
Great write up.

It's clear through all this we do have a lot more Rino’s to dump in 2012. Any doubt that no matter who gets elected these same Rino’s that have been there far too long with try to derail any substantive changes? No doubt here...

Lets just start with the gaggle of six and then target the other pubs. We need to clean our own house first.

19 posted on 07/24/2011 12:39:01 AM PDT by Palin_Rubio2012
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To: Defiant

How about eliminating Obamacare as part of the package?
##

The Republican establishment doesn’t want to eliminate it. They want it as an issue in 2012.


20 posted on 07/24/2011 1:12:29 AM PDT by SUSSA
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