Posted on 07/14/2011 2:06:46 PM PDT by tcrlaf
President Barack Obama told congressional leaders that a deal must be in place on Friday, or lawmakers will have to make contingency plans to raise the national debt ceiling, a top Democratic negotiator said Thursday.
Senate Majority Whip Dick Durbin (D-Ill.) relayed Obama’s message to reporters Thursday, saying they will have to act fast on a Plan B if a deal doesn’t appear in place by tomorrow. Treasury has said the country will run out of money to pay all of its bills on Aug. 2.
"The president has expressed to the group that by Friday we have to get something done,” Durbin said Thursday. “And it’s realistic because if we’re going to extend the debt ceiling, it takes some time to not only write the bill but to have it scored and move forward.”
Asked if that meant that Congress must move to another option if a deal isn’t reached on Friday, Durbin said: “We will have no choice at that point but to turn to some other option.”
(Excerpt) Read more at politico.com ...
Oh - obama still wants to funnel money to La Raza, SEIU, ACORN, Hamas, and a hundred other illicit outfits... obama thinks these things are more important than S.S., Medicare, etc.
It will be incredibly interesting to see what gives. If Obama caves and starts cutting drastically, he will lose his base and basically be finished as a President. If the GOP caves and allows spending to increase with no meaningful cuts it will spell the end of their careers. Neither side will cave, imho. Not sure what is going to happen. If O issues executive orders to supersede the House then we will have a constitutional crisis on our hands. People will revolt. Literally.
That doesn’t address the question of how the decision is made of which bills won’t be paid right now, once the debt limit is reached.
Tic Tic Tic
Let him move to Schumers option...it will give the house NO choice but to impeach him.
Mister Bigshot is full of BS, too.
Bump to the TRUE Conservatives who have said they won't vote to allow nobama's continued spending our country inyo oblivion!
Congress is on double secret probation.
Speaker said ,,,,NO.
To be specific, Mr. Obama lied when he threatened on July 12 that there wouldn't be enough money to send out Social Security checks on August 3 if the debt ceiling isn't raised.
The federal government receives more than $200 billion in tax revenue a month. Interest on federal debt per month is $29 billion. Social Security costs per month are about $49 billion. Medicare and Medicaid about $50 billion. Active duty military personnel and veterans programs some $2.9 billion each. Those monthly costs add up to around $134 billion - which leaves $66 billion per month left over.
The problem is - and get ready for this - the federal government is spending $108 billion more than it takes in every month now. The CBO estimates are that Washington spent $973 billion more, which means borrowed, than it received for the first nine months of FY2011. The Demagogues are digging the hole we're in $108 billion deeper every month - and they say the only way out is to keep digging and borrowing more!
I say no. I say this has to stop. Which is why I must admit I am keenly disappointed by my fellow Republicans in the House leadership, whom I feel have been suckered into a red herring trap on this.
They keep proposing ridiculous alternatives to Mr. Obama's impossibly destructive demand to raise both the debt ceiling and taxes - such as "entitlement reform," and agreeing to raise the debt ceiling by trillions right now in exchange for what Congressman Allen West appropriately terms "fairy dust" cuts in spending years from now.
I feel what they need to insist on is spending reform right now. As we saw in the numbers above, this requires the following actions by the House:
*Refusing to raise the debt ceiling. (Remember that only the House has the Constitutional authority to raise it, or indeed to authorize any and all spending by the federal government.)
*Specifying that the approximately $200 billion in monthly federal revenues be first spent as itemized above (debt interest payment, Social Security, et al).
*Negotiating with Mr. Obama on how the remaining some $66 billion in monthly revenues should be prioritized. This is the only discussion the House leadership should be having with Mr. Obama.
The discussion should go something like this. Mr. Obama, you've been spending $174 billion a month beyond the most essential priorities of debt service, Social Security, etc., and as of next month, you'll only have $66 billion. As Commander-in-Chief, a most basic responsibility of yours is to provide for the national defense, so a significant fraction of that $66 billion must go to the Pentagon. How do you propose to spend what's left, realizing that a majority of the House has to agree?
No they won't. That is all hyperbole and hot air.
To me, it looks like since he's calling for that action by the house, he's saying there IS nothing currently to rank Social Security as a priority spending item.
No they won't. That is all hyperbole and hot air.
Yup. That's probably how this will go. They'll just exceed the debt limit and the world won't come to an end. Then they'll just endlessly increase our debt load without ever having to go to the trouble of debating it anymore.
We have the revenue to pay all these programs with 66 billion left over.
Or maybe not?
I know the democrats would say that redistribution of wealth is the only proper function of government, but I don't know if that is how things would work out legally or not.
This is like juggling!
If there is no question about the priority of what the available money will be spent on, then why does he say this "requires the following actions by the House":
*Specifying that the approximately $200 billion in monthly federal revenues be first spent as itemized above (debt interest payment, Social Security, et al).
*Negotiating with Mr. Obama on how the remaining some $66 billion in monthly revenues should be prioritized. This is the only discussion the House leadership should be having with Mr. Obama.
It looks to me that if those actions aren't taken, Social Security may fall to the back of the list of what gets paid.
My family has actually been thankful for Obama’s comment about eating peas. It reminded me of a pea salad my mother used to make for many of our family gatherings. I made up a batch that day and I have had to make two more batches of it since then because the family liked it so much.
It is very easy to make just throw a bag of thawed frozen peas in a bowl with small cubes or grated chededar cheese, and some cooked bacon bits, and mix it all up with a very little bit of mayonaise, and some seasonings and you have the salad made.
Perhaps some of the rest of you would like to eat your peas like this too! LOL!
Fear Not....Jim DeMint has said it would be illegal...there is a law that SS has to be paid. Do not be afraid...it is nothing but pure lies...SS will be paid...first...The Democrat Party should be referred to as the Demagogue Party. [Demagogue means political leaders, who gains power by arousing the emotions, passions, and prejudices of the people.] Just think of a little child who wants his/her way so he tries to manipulate you with threats when you know that is pure manipulation and the threat is hallow...
Someone brought that salad to a high school choir banquet a few years ago. I got the recipe and it’s a family favorite now.
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