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Senate Leaders' Plan for Obama to Raise Debt Ceiling Gains Traction
Los Angeles Times via KDAF-TV ^ | Thursday, July 14, 2011 | Lisa Mascaro

Posted on 07/14/2011 8:06:59 PM PDT by kristinn

Reporting from Washington— 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 about $1.5 trillion in deficit reduction over the next 10 years — a figure considerably smaller than Republican leaders and 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 at a stalemate, 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 A. Boehner (R-Ohio) indicated that such "last-ditch" efforts could become more palatable in the time ahead.

"What may look like something less than optimal today, if we're unable to get to an agreement, might look pretty good," Boehner said.

House Majority Leader Eric Cantor (R-Va.) toned down his hard-line stance Thursday, saying, "There is a dose of pragmatism in all that we do."

SNIP

...the government of China, which is one of the largest holders of U.S. debt, issued a statement urging American officials to act "responsibly."

SNIP

(Excerpt) Read more at the33tv.com ...


TOPICS: Business/Economy; Front Page News; Government; News/Current Events; US: Kentucky; US: Nevada; US: Ohio; US: Virginia
KEYWORDS: china; ericcantor; harryreid; intraction; johnboehner; kentucky; mitchmcconnell; nevada; obama; ohio; virginia
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To: kristinn
Senate Leaders' Plan for Obama to Raise Debt Ceiling Gains Traction

US Constitution, Article I, Section 8:

No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law;

Breaking News! The LAT has declared Obama KING!!!

41 posted on 07/14/2011 11:29:32 PM PDT by Carry_Okie (GunWalker: Arming "a civilian national security force that's just as powerful, just as well funded")
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To: Carry_Okie
Fed_old_hundy

So the TEA party is WHAT?

42 posted on 07/14/2011 11:31:40 PM PDT by raygun (http://bastiat.org/en/the_law DOT html)
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To: raygun
So the TEA party is WHAT?

Easy. "Tax Everything Anyway."

43 posted on 07/14/2011 11:33:28 PM PDT by Carry_Okie (GunWalker: Arming "a civilian national security force that's just as powerful, just as well funded")
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To: Carry_Okie

Is that s’poda be funny?


44 posted on 07/14/2011 11:39:01 PM PDT by raygun (http://bastiat.org/en/the_law DOT html)
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To: raygun
Is that s’poda be funny?

You might as well laugh, because the well ran dry.

45 posted on 07/14/2011 11:57:25 PM PDT by Carry_Okie (GunWalker: Arming "a civilian national security force that's just as powerful, just as well funded")
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To: raygun
Is that s’poda be funny?

You might as well laugh, because the well ran dry.

46 posted on 07/14/2011 11:57:56 PM PDT by Carry_Okie (GunWalker: Arming "a civilian national security force that's just as powerful, just as well funded")
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To: Carry_Okie

You’re SO obtuse.

What are you talking ‘bout?

I thought this was spoda be some sort of conservative panacea.

It is the worst drek I’ve ever seen.


47 posted on 07/15/2011 12:12:48 AM PDT by raygun (http://bastiat.org/en/the_law DOT html)
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To: kristinn

I’m not understanding this plan at all.

1) Congress washes their hands of their responsibilities
2) Obama raises the debt limit
3) Congress votes to block the increase
4) Obama vetoes the block
5) Congress fails to override Obama’s veto and our debt increases.

???

FTA:

“Republican strategists think that scenario would force Obama to take full political responsibility for the rising national debt, a prospect that White House spokesman Jay Carney said Obama could live with.”

I guess nobody cares about who’s going to end up with the bill.

And what about cuts? Who’s deciding what gets cut somewhere, somehow down the line?


48 posted on 07/15/2011 1:20:29 AM PDT by Nickname
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To: Texan

“Scripture has indicated that the United States is doomed to become a vassal nation...a nation unimportant in international affairs. A nation that is essentially a slave nation to our foreign overlords.

I’m very curious as to which scripture you’re referring to which you think applies to the U.S.”

There is no scripture that mentions the US either directly or indirectly in scriptures.
It is this fact which bring people to conclude that power and influence over world affairs must have somehow been lost and become so insignificant that it merits no mention.

AND / OR

There will be at sometime a catastrophe so great that it destroys the US.

Can you say Sodom and Gomorrah?

An eruption of Yellowstone could do just that. Of course this just hypothetical. But, with that being said it is highly plausible given Yellowstone’s recent swarms or seismic activity and significant bubble rise of it’s caldera.


49 posted on 07/15/2011 3:57:53 AM PDT by diverteach (If I find liberals in heaven after my death.....I WILL BE PISSED!!!)
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To: LostInBayport

The summer soldier and the sunshine patriot will, in this crisis, shrink from the service of their country ...


50 posted on 07/15/2011 4:04:24 AM PDT by EBH ( Whether you eat your bread or see it vanish into a looter's stomach, is an absolute.)
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To: diverteach; Texan

Yes, there is that viewpoint. And an eruption in Yellowstone would turn the moon blood red and darken the earths skys etc.

But, there are a few other scriptures, that if one believes many of the descriptions represent countries, then America has a huge role to play in the last days.

Exodus 19:4
Ye have seen what I did unto the Egyptians, and how I bare you on eagles’ wings, and brought you unto myself.

Deuteronomy 28:49
The LORD shall bring a nation against thee from far, from the end of the earth, as swift as the eagle flieth; a nation whose tongue thou shalt not understand;

Daniel 7:4
The first was like a lion, and had eagle’s wings: I beheld till the wings thereof were plucked, and it was lifted up from the earth, and made stand upon the feet as a man, and a man’s heart was given to it.

Isaiah 40:31
But they that wait upon the LORD shall renew their strength; they shall mount up with wings as eagles; they shall run, and not be weary; and they shall walk, and not faint.

Revelation 12:14
And to the woman were given two wings of a great eagle, that she might fly into the wilderness, into her place, where she is nourished for a time, and times, and half a time, from the face of the serpent.

Ezekiel 10:14
And every one had four faces: the first face was the face of a cherub, and the second face was the face of a man, and the third the face of a lion, and the fourth the face of an eagle.

In the Bible the eagle is revered and despised. One can find a nearly equal number of passages for both. What is seen is God often uses the eagle in prophecy quite symbolically as a creature of His power, His strength, His glory, and His destruction.


51 posted on 07/15/2011 4:23:03 AM PDT by EBH ( Whether you eat your bread or see it vanish into a looter's stomach, is an absolute.)
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To: kristinn
Who will make sure the “cuts” actually happen after giving Obama a blank check?
52 posted on 07/15/2011 4:26:26 AM PDT by tobyhill (Real Spending Cuts Don't Require Increasing The Debt)
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To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; Convert from ECUSA; ...

Thanks kristinn.


53 posted on 07/15/2011 5:27:19 AM PDT by SunkenCiv (Yes, as a matter of fact, it is that time again -- https://secure.freerepublic.com/donate/)
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To: kristinn

I called McConnell’s office. Told the girl there he was selling us out (again). I told her there will not be a Republican Party after 2012 if he does this.

90% of the Senate is nothing better than common criminals. We are two years (tops) from being Venezuela.


54 posted on 07/15/2011 6:40:19 AM PDT by ChildOfThe60s ( If you can remember the 60s....you weren't really there)
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To: kristinn

I’ve read aboout McConnells’ plan and my first thought was something that Ron White said once or twice.

“Hit somethin’ hard, I don’t want to limp away from this wreck.”


55 posted on 07/15/2011 10:04:29 AM PDT by Grunthor
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To: Carry_Okie

Roger that.

I’m horkin dry.

So. What now? Is we good to go?


56 posted on 07/16/2011 10:18:16 PM PDT by raygun (http://bastiat.org/en/the_law DOT html)
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