Posted on 07/28/2011 4:19:50 PM PDT by RummyChick
Democrats are aiming for a debt-limit compromise similar to the House Republican plan, with at least one major difference: The second vote on raising the debt ceiling would not depend on Congress passing a broader deficit-reduction package.
The shape of this potential compromise meshes major elements of the proposals offered in recent weeks by House Speaker John Boehner (R-Ohio), Senate Minority Leader Mitch McConnell (R-Ky.) and Senate Majority Leader Harry Reid (D-Nev.), according to Democratic officials familiar with the negotiations. Continue Reading Text Size
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POLITICO 44
Under the possible compromise, Congress could still get a second crack at voting on the debt limit within months. But rather than linking the vote to Congress approving the recommendations of a new 12-member committee — as it would be in Boehner’s bill — Democrats prefer McConnell’s proposal that allows President Barack Obama to lift the debt ceiling unless two-thirds of both chambers override his veto of a disapproval resolution, the officials said.
To force action on a deficit reduction package, the White House would agree to strengthen the mechanism that compels Congress to pass the special committee’s recommendations, the officials said. The officials would not detail proposals for a so-called trigger that acts as an incentive for both parties to bargain in good faith and reach agreement.
Before the grand bargain talks collapsed last week, Boehner and Obama had neared agreement on a series of triggers that would have forced approval of a broader deficit-reduction package. If Congress failed to enact entitlement and tax reform, Democrats would have seen health spending reduced, while Republicans would have lost the Bush-era tax cuts for the wealthy, along with other tax changes.
The administration has been discussing options with congressional leaders but the extent to which House Republicans will compromise remains unclear.
The Democratic officials argued that the competing debt-limit plans are not markedly different, and a deal can be reached unless House Republicans refuse to consider alternatives to the Boehner bill.
The president has not spoken to the speaker in a few days, White House Chief of Staff Bill Daley said in an interview Thursday on CNN’s “The Situation Room with Wolf Blitzer.”
After the votes Thursday night, “I think there will be a whole new stage of the Senate and House having to come together to avoid August 2nd as being a day that has never happened in the U.S., and that is a day where we wouldn’t back up the full faith and credit of the United States,” Daley said.
A member of Congress was seated next to a little girl on an air plane so he
turned to her and said, “Do you want to talk? Flights go quicker if you
strike up a conversation with your fellow passenger.”
The little girl, who had just started to read her book, replied to the total
stranger, “What would you want to talk about?”
“Oh, I don’t know,” said the congressman. “How about global warming,
universal health care, or stimulus packages?” as he smiled smugly.
“OK,” she said. “Those could be interesting topics but let me ask you a
question first. A horse, a cow, and a deer all eat the same stuff - grass.
Yet a deer excretes little pellets, while a cow turns out a flat patty, but
a horse produces clumps. Why do you suppose that is?”
The legislator, visibly surprised by the little girl’s intelligence, thinks
about it and says, “Hmmm, I have no idea.”
To which the little girl replies, “Do you really feel qualified to discuss
global warming, universal health care, or the economy, when you don’t know
shit?”
And then she went back to reading her book.
I have been screaming at the top of my lungs to get posters on this site to do something about this by contacting the tea party republicans and get them to hold the line
take heed ..
“To force action on a deficit reduction package, the White House would agree to strengthen the mechanism that compels Congress to pass the special committee’s recommendations, the officials said. The officials would not detail proposals for a so-called trigger that acts as an incentive for both parties to bargain in good faith and reach agreement. “
the House will never go for this
McConnell plan assumes obama is a normal competent man who will rise up to leadership, be held accountable for his decisions, and who will put the best intersts of the nation above his own ideological agenda
we have all seen that is not the case
Boehner's plan all along was to go along with the "moral imperative" of avoiding "default" (actually a partial shutdown) at all costs.
McConnell plan assumes obama is a normal competent man who will rise up to leadership, be held accountable for his decisions, and who will put the best intersts of the nation above his own ideological agenda
What a delusional crock.........McConnell must be smoking something.
Palin put out a warning on her facebook about 90 minutes before the vote
about competition in the primaries.
Boehner must be removed as Speaker, in 2012 if not before.
Once again the GOP is snatching defeat from the jaws of victory.
FOr people that think twitter is not relevant right now..
believe me...THEY are paying attention. Look at this :
LukeRussert Luke Russert
. @FrankthorpNBC reporting that @SpeakerBoehner just walked into #GOP Whip McCarthy’s office. Can they find 216? #Debt
1 minute ago Favorite Retweet Reply
»
Luke Russert
LukeRussert Luke Russert
Members of the South Carolina #GOP House delegation praying for their leaders in the House Chapel off of the Rotunda. #Debt
9 minutes ago Favorite Retweet Reply
»
Rep. Joe Walsh
RepJoeWalsh Rep. Joe Walsh
by LukeRussert
@lukerussert I’m a no Luke
Contact those members via twitter that are praying for a decision. It may be those two votes that carry this bill.
Don’t you understand? We only control one half of one branch of government. Because Boehner’s hand is proving so weak with his group the Dem plan will probably happen and the GOP won’t be able to stop it.
The Dems only need to peel off about 24 to 25 Republican House members to pass the bill in the House. Unless Boehner can prove he can hold his delegation together in this first vote the GOP in the Senate will not be able to maintain a filibuster. Look for McCain, Brown, Snowe, Collins, Graham, and two or three more to vote to end debate. They will vote against the bill but they will let it come up for vote. Then it will go back to the House and Boehner will probably lose an attempt to hold his delegation against it. Some GOP’s will vote with the Dems.
The end result will be something much, much worse than what Boehner is trying to force through. It will give 0bama all the money he needs to get to 2013 with no meaningful need to negotiate for more spending cuts. We will have 2.3 trillion more in debt and a debt downgrade.
James Madison The Federalist Papers Federalist No. 39
Categories: Budget
Date: Unknown
That the most productive system of finance will always be the least burdensome.
Thomas Jefferson letter to Samuel Kercheval
Categories: Budget
Date: July 12, 1816
We must not let our rulers load us with perpetual debt.
Thomas Jefferson letter to Spencer Roane
Categories: Budget
Date: March 9, 1821
The multiplication of public offices, increase of expense beyond income, growth and entailment of a public debt, are indications soliciting the employment of the pruning knife.
Thomas Jefferson letter to Marquis de Lafayette
Categories: Budget
Date: November 4, 1823
[A] rigid economy of the public contributions and absolute interdiction of all useless expenses will go far towards keeping the government honest and unoppressive.
Alexander Hamilton Report on Public Credit
Categories: Budget
Date: January 9, 1790
As on the one hand, the necessity for borrowing in particular emergencies cannot be doubted, so on the other, it is equally evident that to be able to borrow upon good terms, it is essential that the credit of a nation should be well established.
George Washington Message to the House of Representatives
Categories: Budget
Date: December 3, 1793
No pecuniary consideration is more urgent, than the regular redemption and discharge of the public debt: on none can delay be more injurious, or an economy of time more valuable.
Thomas Jefferson letter to John Wayles Eppes
Categories: Budget
Date: June 24, 1813
It is a wise rule and should be fundamental in a government disposed to cherish its credit, and at the same time to restrain the use of it within the limits of its faculties, “never to borrow a dollar without laying a tax in the same instant for paying the interest annually, and the principal within a given term; and to consider that tax as pledged to the creditors on the public faith.”
Thomas Jefferson letter to James Madison
Categories: Budget
Date: September 6, 1789
But with respect to future debt; would it not be wise and just for that nation to declare in the constitution they are forming that neither the legislature, nor the nation itself can validly contract more debt, than they may pay within their own age, or within the term of 19 years.
James Madison Speech in Congress
Categories: Budget
Date: April 22, 1790
There is not a more important and fundamental principle in legislation, than that the ways and means ought always to face the public engagements; that our appropriations should ever go hand in hand with our promises. To say that the United States should be answerable for twenty-five millions of dollars without knowing whether the ways and means can be provided, and without knowing whether those who are to succeed us will think with us on the subject, would be rash and unjustifiable. Sir, in my opinion, it would be hazarding the public faith in a manner contrary to every idea of prudence.
Benjamin Franklin Poor Richard’s Almanack
Categories: Budget
Date: 1737
A penny saved is twopence clear.
Benjamin Franklin from his writings
Categories: Budget
Date: 1758
He that goes a borrowing goes a sorrowing.
Thomas Jefferson letter to John Taylor
Categories: Budget
Date: May 28, 1816
The principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.
Thomas Jefferson letter to Shelton Gilliam
Categories: Budget
Date: June 19, 1808
The same prudence which in private life would forbid our paying our own money for unexplained projects, forbids it in the dispensation of the public moneys.
Calvin Coolidge Foundations of the Republic At Memorial Continental Hall
Categories: Budget
Date: June 30, 1924
We must have no carelessness in our dealings with public property or the expenditure of public money. Such a condition is characteristic either of an undeveloped people, or of a decadent civilization. America is neither.
Calvin Coolidge Foundations of the Republic Foundations of the Republic
Categories: Budget, Economy, End of government, Government Spending
Date: Unknown
I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we save means that their life will be so much the more abundant. Economy is idealism in its most practical form.
If this bill passes the house it will be much worse than it is now and it WILL pass both Chambers.
that I know.
Come back in a week if this passes and admit I was right.
markknoller Mark Knoller
@
@jackthecat11 For the umpteenth time, 14th amendment doesn’t give Pres authority to unilaterally raise the statutory debt limt.
South Carolina is being strong armed:
Jamie Dupree
@jamiedupree Jamie Dupree
A bill dealing with Boeing & unions may be delayed because South Carolina GOP members whipping against debt bill
daveweigel daveweigel
Ron Paul emails list: “Debt Ceiling Betrayal Imminent.” WHAT DOES HE KNOW?
http://www.foxnews.com/politics/2011/07/28/house-gop-sets-vote-on-revamped-debt-limit-bill/
The fix does appear to be in. I thought the Boehner bill was DOA at the Senate???
I don't know, be he'd better pass it around.
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