Posted on 07/14/2011 6:33:51 PM PDT by SeekAndFind
A plan by the Senate's two top leaders to allow President Obama to raise the debt limit without congressional approval is emerging as the most likely strategy to avoid a looming federal default.
The plan being drafted by Senate Minority Leader Mitch McConnell of Kentucky and Majority Leader Harry Reid of Nevada would lock in roughly $1.5 trillion in deficit reduction over the next ten years — a figure considerably smaller than Republican leaders or President Obama had been seeking. Administration officials have said they still would prefer a more sweeping deal on the deficit, but they signaled the idea would be acceptable to Obama.
Conservatives, particularly in the House, seem likely to oppose it. But with efforts to deliver a larger deficit-reduction deal still stalemated, the new plan, which builds on a proposal put forward earlier in the week by McConnell, could provide a way out of a dead end that has become politically and economically perilous.
House Speaker John Boehner (R-Ohio) indicated such "last-ditch" efforts may become more palatable in the time ahead.
(Excerpt) Read more at chicagotribune.com ...
This is not ‘allowing’ him to raise the debt limit- it is raising the debt limit, period.
The Constitution would have to be amended to allow the president to sell debt on his own.
So it’s a lie, all a lie.
From weak-willed wimps incapable of exercising the appointed responsibility: to protect and defend the Constitution.
Men who will not confront evil will be consumed by evil.
Statesmen don't contrive cheap little political tricks that allow them to escape blame and responsibility. Politicians do.
2014
Third party here we come.
Good bye Mitch. Good by John.
O wins in ‘12 and we go broke. Nice move assholes.
Our country is insolvent and it cannot be pushed into the future. WE ARE BROKE NOW!
We cannot be saved by these bastards in Washington.
This country cannot be saved by the political class. They are the ones who brought to this ruin.
You missed all of yesterday’s discussions. You should go back and read through them.
They better not vote for this if they plan to be in office next time they run for election.
October 2008, Biden: "We're going to have...a generated crisis..."
$6 Trillion in debt added since 2006 qualify as a generated crisis?
>>> You missed all of yesterday’s discussions. You should go back and read through them.
No I didn’t. What’s your point?
How 'bout you give us the Cliff's Notes?
Thanks. No wonder he is pulling this kind of stunt. They know that by re-election time folks will forget most of this.
It’s got to pass the House....it ain’t goin’ happen...
No, I don't think so. This is like the obamacare vote. It will live on.
>>> The House would pass it. There are only 80 or so “TEA partiers” out of 435 seats.
Total insanity... Absolutely NO WAY.
If they do, our republic is OVER.
The chicken sh** SOBs are going to cave. This is such BS. Boner and McConnell are such cowards. They don’t even believe their own BS about how great this plan is. Why not just raise the debt ceiling and give him the taxes, at least that way it would be constitutionally done instead of this illegal BS of giving the President this much power.
That is one of the worst gutless ideas in the history of RINO losers who will never again get my vote for anything.
DAMN DAMN DAMN!
Obamacare wasn’t doing a good enough job at bankrupting us?
So much for republican party. Tea Party gets my money and my time now... unless they can show me how 1.5 trillion over ten years [that’s 150 billion per year] is actually going to do anything. It won’t happen anyway.
Just damn.
I hope so.
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