White House, Republicans Strike Tenative Deal To Raise Debt Ceiling

ABCNews ^ | July 30, 2011 | Jonathon Karl

[Beaten Valve]

ABC News has learned that Republicans and the White House have struck a tenative deal to raise the debt ceiling before the Aug. 2 deadline.

It's not done yet, but here is the framework of the tentative deal they have worked out, according to a source familiar with the negotiations:

[Lucius Cornelius Sulla]

‘Sometimes you guys need to take small victories in the pursuit of the large victory. This probably assures Obama is out in 2012.’

Some of the strategists around here make Augustus’s General Varus look like a genius.

[EternalVigilance]

Laugh all you want. But the liberals control the whole government, including the House, which holds the purse strings. That’s self-evident.

[Elendur]

another thing most people here forget, is that ALL the projection numbers, are based on 3.0 GDP growth.

and those numbers are lies. as we see quarter after quarter.

http://www.freerepublic.com/focus/f-news/2756478/posts
2011 Q2 GDP - The Numbers Don’t Add Up (We have never really left recession)

so another 2.8 trillion in cap, another 9 trillion on National debt, and Obama killing the economy for another 1.5 years, will destroy us.
the ONLY way to stop him, is to NOT raise the ceiling,
NOW.
http://www.freerepublic.com/focus/f-news/2756453/posts
Moody’s: Neither debt plan protects the nation’s AAA rating

and people are forgetting the Cloward-Piven Plan!
Obama is one of them!
and George Soros criminal HISTORY of crashing currencies and markets.

[kabar]

There are no real cuts, just reduced levels of spending. We will still add trillions to the national debt. We will run a deficit of more than a trillion dollars each in FY-2011 and FY-2012. The $2.8 trillion debt ceiling increase will get us just into 2013.

[skinkinthegrass]

A Kentucky Ping.

...for those interested. :D

When Republicans Say Bipartisanship, They Mean Surrender

[Clairity]

One more thing — from the other article I mentioned, there is NOT Balanced Budget Amendment, UNLESS the Commmittee “fails”.

I knew it was all smoke and mirrors. And wait until you see all the additional weasel words. Bottom line, Obama got his debt ceiling increase, Republicans got empty promises. Calling them the stupid party is too kind.

“If the Super Committee fails, Congress must send a balanced-budget amendment to the states for ratification. If that doesn’t happen, across-the-board spending cuts would go into effect and could touch Medicare and defense spending.”

http://nationaljournal.com/budget/outlines-of-debt-compromise-emerge-20110730

[hinckley buzzard]

All well and good but there never has been a tax increase associated with an increase in the debt ceiling.. This is just business as usual all the way around.

Don't anybody hold your breath waiting for those "cuts" to appear either.

[Qbert]

“More useless committees with “recommendations”.”

—And the article says if Congress doesn’t approve of the committee’s suggestions, there will be automatic cuts to Defense and Medicare...

...IOW, the “cuts” to Medicare will merely involve waste and fraud numbers already assumed, and the Defense cuts will either be real (during the middle of three wars), or the phony Afghanistan drawdown numbers that Harry Reid was already scheming on using.

[LdSentinal]

What HotAir/National Journal is reporting:

Update II: Via Jeff Dunetz, National Journal’s Major Garrett also gets a similar story from his sources, but the news is a little better:

•2.8 trillion in deficit reduction with $1 trillion locked in through discretionary spending caps over 10 years and the remainder determined by a so-called super committee.
•The Super Committee must report precise deficit-reduction proposals by Thanksgiving.
•The Super Committee would have to propose $1.8 trillion spending cuts to achieve that amount of deficit reduction over 10 years.
•If the Super Committee fails, Congress must send a balanced-budget amendment to the states for ratification. If that doesn’t happen, across-the-board spending cuts would go into effect and could touch Medicare and defense spending.
•No net new tax revenue would be part of the special committee’s deliberations.

Sounds preposterous to me.

Link

[ncalburt]

Who are you working for TROLL ??????

Obama or Mittens ?????

[Jim Robinson]

There is absolutely no reason whatsoever to raise the debt ceiling.

[SideoutFred]

Yeah, it does matter. Let me give you a few reasons why to jolt you back to reality.

Scalia

Alito

Thomas

Roberts

vs

Sotomayer

Kagan

Ginsberg

Breyer

There is plenty to hate about the GOP, but there is MUCH MUCH MUCH more to hate about the DNC. So yes, there is a difference. You may conveniently lump them all together and brush stroke it as they are the same, but that would not be accurate.

[Terry Mross]

If our credit rating drops none of these numbers add up anyway.

Does anyone know who will choose the dems and RINOS to be on the committee?

[Lucius Cornelius Sulla]

‘What exactly is being cut in the near term?’

There was no chance whatsoever that actual reductions in expenditures would pass at this time.+

[cajungirl]

Looks good to me seeing as how we only have the House. No taxes, the issue will perk up to Christmas. Bosh ER made them cave and no Tuesday crises. Rome wasn’t built in a day.

[EternalVigilance]

As Limbaugh predicted, Republicans have been suckered, again.

Where do you people get this stuff? They haven't been suckered. They're getting exactly what their leadership said they wanted from day one. Two TRILLION plus in additional borrowed money to spend.

[TomasUSMC]

BBA tied to NOTHING??—

//////////////////
EXACTLY ....not to mention that a Balanced Budget will not reduce the Debt ....not by one cent ....EVER. We need Surplus budgets.

Heck, a 2 trillion dollar unbalanced budget is better than a 5 trillion dollar balanced one.

FREEZE THAT CEILING NOW

[sickoflibs]

RE :”I’ve been accused of being too negative. But like you, I listen to people who are a lot smarter than I am who tell me things are bad and going to get worse.”

You cant lose that bet.

I am guessing that if this deal is even real, then it is just a WH-Senate Deal since they were the only ones negotiating now. McConnell talked with Obama and then afterward Obama called Reid and Pelosi for a meeting. If it gets the Senate (60) votes it goes to Boehner/House. Then he will try to get the votes or modify it if he cant.

Getting any bill the Senate passes through through the House will be a challenge, both conservaives and liberal Marxists are likely to reject it. Tomorrows Sunday shows should be interesting,

[silentknight]

By 2018-2020 the debt level would be closer to what number? 20-25 trillion - does that sound right? Perhaps more than 20 trillion - quite a bit more than that.

[aruanan]

“$2.8 trillion in deficit reduction with $1 trillion locked in through discretionary spending caps over 10 years and the remainder determined by a so-called super committee.”

"I'll gladly pay you next Tuesday for a trillion dollar cheeseburger today."