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 nations 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 nations 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 ...
-—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
Did I miss a memo?
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.
I think he'll double-down and try harder to talk the markets into panic and blame Republicans.
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.
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.
An increase in the debt limit is an increase in taxes....
they obama, reid and pelosi copy cause they have NOTHING...
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.
Perish the thought!! Is that a new negotiating tactic?
“Buff” well our boy king is the naked emperor
LOL. Sorry, couldn’t resist.
14 amendment ? He’s going to bypass everyone.
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