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No debt deal hours before markets open (Obama, Reid and Pelosi try to steal the GOP ideas)
Politico ^ | 7/24/2011 | By JAKE SHERMAN & MANU RAJU & JOHN BRESNAHAN

Posted on 07/24/2011 2:53:54 PM PDT by tobyhill

House and Senate negotiators have not reached a deal that would lift the nation’s debt ceiling just hours before markets in Asia are set to open — a test of whether Washington political dysfunction is beginning to shake the global economy.

House Republicans are not able to reach a deal with Senate Democrats, said congressional sources, though staff-level negotiations are continuing.

And in a sign that talks with Republicans appear to be going sour, Senate Majority Leader Harry Reid (D-Nev.) began to draft his own legislation Sunday that would slash at least $2.5 trillion to match an extension of the nation’s borrowing limit through the 2012 election, leadership aides said.

Reid and House Minority Leader Nancy Pelosi are heading to the White House at 6 p.m. to meet with President Barack Obama. Reid may discuss his proposal with the Senate Democratic Caucus as early as Sunday evening.

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


TOPICS: Extended News; News/Current Events
KEYWORDS: boehner; default; planners; police; teachers

1 posted on 07/24/2011 2:54:00 PM PDT by tobyhill
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To: tobyhill

“No debt deal.” That’s a good thing, and may it go on and on. Whatever they do, no tax, “fee” or other “revenue” hikes! If they raise “revenues” more, then slowdown, until the beast is emaciated!


2 posted on 07/24/2011 2:57:39 PM PDT by familyop ("Plan? There ain't no plan!" --Pigkiller, "Beyond Thunderdome")
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To: tobyhill

Obama plays the game of a dictator. When will his party figure it out???


3 posted on 07/24/2011 2:59:19 PM PDT by Sacajaweau
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To: Sacajaweau
Obama plays the game of a dictator. When will his party figure it out???

Heck, that's what they want.

4 posted on 07/24/2011 3:03:17 PM PDT by raybbr (People who still support Obama are either a Marxist or a moron.)
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To: tobyhill

Borrow now, cut later (never).


5 posted on 07/24/2011 3:04:09 PM PDT by Paladin2
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To: tobyhill

$10 wager> Weed will cut $2,500 billion in Tax Spending, since all the money belongs to the Gubmint and the Gubmit decides how much we need


6 posted on 07/24/2011 3:04:33 PM PDT by Steven Tyler
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To: Sacajaweau
“And in a sign that talks with Republicans appear to be going sour, Senate Majority Leader Harry Reid (D-Nev.) began to draft his own legislation Sunday that would slash at least $2.5 trillion to match an extension of the nation’s borrowing limit through the 2012 election, leadership aides said.”

This is exactly what Boehner proposed before Obama and the Rats threw in the tax hikes.

7 posted on 07/24/2011 3:04:33 PM PDT by tobyhill (Real Spending Cuts Don't Require Increasing The Debt)
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To: tobyhill

39 Trillion over next 10 years and he going to cut 2.5 Tillion? NOT


8 posted on 07/24/2011 3:06:29 PM PDT by scooby321
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To: tobyhill

Reid is just now doing something?


9 posted on 07/24/2011 3:08:07 PM PDT by Brilliant
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To: scooby321

That will go nowhere.
The House should reject it before a vote (like the Senate did.)


10 posted on 07/24/2011 3:08:35 PM PDT by Eric in the Ozarks (Eh ?)
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To: tobyhill
'No they didn't"


11 posted on 07/24/2011 3:11:19 PM PDT by John 3_19-21
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To: John 3_19-21

LOL ... I remember that guy!


12 posted on 07/24/2011 3:14:06 PM PDT by OwenKellogg (Defund Elmo, TOTUS, and GOTUS)
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To: Paladin2
Of course they'll never cut and that's why Boehner needs to demand a down payment of at least $500 billion now.
13 posted on 07/24/2011 3:14:45 PM PDT by tobyhill (Real Spending Cuts Don't Require Increasing The Debt)
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To: Sacajaweau

He’s not playing, and they’re fine with that.


14 posted on 07/24/2011 3:14:47 PM PDT by nina0113
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To: tobyhill

“This is exactly what Boehner proposed before Obama and the Rats threw in the tax hikes. “

This is why the rats are meeting. Obama has lost his bluff and is made irrelevant AND the democrats look the same - the rats goal is to make the bill their own and claim they are what makes things happen. The no taxes bill seems inevitable so don’t let the repubs score any more points as the party of action and accountablility, change Boehner’s details slightly and shout how it took the president and the dems to save the country. On the positive side a no taxes budget would be great even if the dems try to rewrite history that they were the heroes all along.


15 posted on 07/24/2011 3:19:35 PM PDT by Duke of Milan
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To: John 3_19-21
Boehner’s original offer was equal cuts for equal increase and now that's what Obama, Reid and Pelosi are pretending they are proposing.
16 posted on 07/24/2011 3:19:57 PM PDT by tobyhill (Real Spending Cuts Don't Require Increasing The Debt)
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To: Brilliant

That was my first thought too—that Reid is more than a little late to the game. If the writers of the piece had an objective bone in their bodies, they would note how long it took the Dems to put pen to paper. Well maybe some US citizens will see it, even if the partisan hacks at Politico never will.


17 posted on 07/24/2011 3:20:45 PM PDT by Fantasywriter
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To: tobyhill

Does obama lose leverage if the Asian markets don’t tank?

What they’re going to do is present a plan that the republicans reject then they can go back to the “party of no” crap.


18 posted on 07/24/2011 3:23:12 PM PDT by Terry Mross (I'll only vote for a SECOND party.)
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To: tobyhill

/s


19 posted on 07/24/2011 3:24:59 PM PDT by John 3_19-21
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To: tobyhill
Obama, Reid and Pelosi try to steal the GOP ideas

Why wouldn't they? Their bottom line is to get their hands on a couple more trillion dollars to flush through their constituencies. And every proposal offered by the GOP raises the debt ceiling and therefore gives them that.

20 posted on 07/24/2011 3:25:46 PM PDT by EternalVigilance (Return to the strictures of the Enumerated Powers. The budget will balance.)
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To: Brilliant

-—Reid is just now doing something?-—

Boehner called Obama buff and now Obama and Reid have a pair of dueces to Boehner full house

Reid just trying not to look like obama poodle


21 posted on 07/24/2011 3:25:58 PM PDT by Popman (Obama. First Marxist to turn a five year Marxist plan into a 4 year administration.)
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To: All
Why are POLICE and TEACHERS appearing as "keywords" for many articles that have nothing to do with them?

Did I miss a memo?

22 posted on 07/24/2011 3:26:27 PM PDT by newzjunkey (Obama until 2017. Could happen.)
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To: tobyhill
I find it interesting that when the Dems were talking about "revenue" increases our side was rightly saying BS and not supporting it. But now when Boehner talks about 800B in revenue increases we're supposed to believe that's due to economic growth and not tax increases. So basically we're going to increase the debt ceiling and increase spending with the promise of future spending cuts and the hope that we have economic growth which brings in 800B of new revenues.

Why can't we pay the interest on the debt, take care of the military and entitlements and then deal with the rest after that? And if it causes a government shutdown, so be it.

23 posted on 07/24/2011 3:27:30 PM PDT by ejdrapes (Can we keep our attacks focused on the real enemy: Obama)
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To: Terry Mross
If the Rats try to pull that one then the GOP Senate should filibuster the bill and then simultaneously pass the House version and send it to the Senate.
24 posted on 07/24/2011 3:29:37 PM PDT by tobyhill (Real Spending Cuts Don't Require Increasing The Debt)
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To: Terry Mross
He should lose leverage if they don't tank and just checking now there's no sign of the panic he hoped to trigger for political leverage.

I think he'll double-down and try harder to talk the markets into panic and blame Republicans.

25 posted on 07/24/2011 3:31:02 PM PDT by newzjunkey (Obama until 2017. Could happen.)
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To: tobyhill
Looks to me like Reid has folded.

He's agreeing to Boehner's demand for equal cuts to ceiling rise.

He'll tweak a few of the cuts to make them more "liberal" but the fact that they're talking equal cuts says it all.

26 posted on 07/24/2011 3:34:21 PM PDT by Siena Dreaming
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To: newzjunkey

If the republicans win this debate and the economy chugs along obama will be re-elected as the saviour who worked with republicans to get things done. Remember, obama can flip anytime he wants the media never mentions it.


27 posted on 07/24/2011 3:35:29 PM PDT by Terry Mross (I'll only vote for a SECOND party.)
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To: familyop

An increase in the debt limit is an increase in taxes....


28 posted on 07/24/2011 3:39:12 PM PDT by stockpirate (Republicans that vote for socialism, support socialists are socialists.)
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To: tobyhill

they obama, reid and pelosi copy cause they have NOTHING...


29 posted on 07/24/2011 3:41:32 PM PDT by television is just wrong
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To: stockpirate

Agreed. Even rising inflation alone has the effect of tax hikes, although it would eventually be corrected by default and would not require the unlikely repeal. But in reality, we are seeing a process of default, and the default is the only chance for freedom in the future.

Granted, socialists (incl. those by proxy) who feel that they are doing well with the status quo would rather not see the default ahead, because the default will break the perceived power of their plantation.

I want to manufacture something without paying unworkable flooring costs to government-sucking socialists. I’m in the middle of nowhere on a large lot. Land use regs. must also go, along with anti-family social policies.

Many others feel the same way and are cutting their personal spending more in time. So yes, there will be a default. Raise ostensible taxes/fees, and the default process will be even more physically difficult and harmful for all.


30 posted on 07/24/2011 3:56:13 PM PDT by familyop ("Plan? There ain't no plan!" --Pigkiller, "Beyond Thunderdome")
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To: Popman
Boehner called Obama buff

Perish the thought!! Is that a new negotiating tactic?

31 posted on 07/24/2011 4:08:09 PM PDT by Moorings
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To: Moorings
LOL damn blackberry keys and screen are too small

“Buff” well our boy king is the naked emperor

32 posted on 07/24/2011 4:33:44 PM PDT by Popman (Obama. First Marxist to turn a five year Marxist plan into a 4 year administration.)
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To: Brilliant
We would be a lot better off without Reed and Pelosi.
Heck, I'd take Soupy Sales over both of them. At least he had talent.
33 posted on 07/24/2011 4:55:02 PM PDT by JimmyMc
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To: Popman

LOL. Sorry, couldn’t resist.


34 posted on 07/24/2011 4:58:39 PM PDT by Moorings
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To: raybbr

14 amendment ? He’s going to bypass everyone.


35 posted on 07/24/2011 5:03:49 PM PDT by molson209
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