Free Republic

Senate Majority Leader Harry Reid (D-Nev.) has revised his plan to raise the debt limit in a last-ditch bid to attract Republican support. The biggest change is that Reid would give the president almost unilateral power to raise the debt limit, borrowing an idea introduced by Senate Republican Leader Mitch McConnell (R-Ky.). Reid would have President Obama request a $2.4 trillion debt-limit increase in two installments of $1.2 trillion each. The requests would be subject to congressional resolutions of disapproval, but these would do little to restrict the president.

House Republicans will bring up Senate Majority Leader Harry Reid’s debt limit package Saturday just to vote it down, an attempt to show that the legislation is dead in the lower chamber, according to GOP leadership sources. Speaker John Boehner’s (R-Ohio) debt limit package passed the House Friday with 218 votes. The Boehner plan would raise the debt limit by $900 billion, requiring another vote to boost the government’s borrowing authority early next year by another $1.6 trillion. Reid and other Senate Democratic leaders have already declared the Boehner plan dead-on-arrival in the Senate. In order to show Reid’s package...

The House plans on voting on Speaker John Boehner's debt limit plan this evening, but with its demise imminent in the Senate, some Senate Republicans are considering getting behind Senate Majority Leader Harry Reid's alternative plan. "I voted for cut, cap, and balance,'" Republican Sen. Scott Brown of Massachusetts said today, in reference to the House Republicans' initial debt limit plan. "I'll vote for Boehner, and I'll vote for Reid. I've already said that. We need to move our country forward. It's time." Senate Democrats have promised to reject Boehner's plan, which would only extend the nation's borrowing authority for...

Back in April, it was Pravda, believe it or not, the Russian News service that warned the end of American Capitalism was very near: The final collapse has come with the election of Barack Obama. His speed in the past three months has been truly impressive. His spending and money printing has been a record setting, not just in America's short history but in the world. If this keeps up for more then another year, and there is no sign that it will not, America at best will resemble the Wiemar Republic and at worst Zimbabwe.... Again, the American public...