Skip to comments.Obama endorses Reid debt deal
Posted on 07/25/2011 12:38:39 PM PDT by Berlin_Freeper
WASHINGTON (CNN) - President Barack Obama on Monday endorsed a debt-ceiling proposal by Senate Majority Leader Harry Reid that would cut government spending by $2.7 trillion and increase the federal borrowing limit through 2012, the White House said.
(Excerpt) Read more at politicalticker.blogs.cnn.com ...
well this plan must suck then....
That’s $2.7 Trillion in cuts - WHEN?
If its one of those ridiculous 10 year deals - forget about it.
As long as he gets this off the table prior to the election he will sign ANYTHING!
Tell him to shove it.
If Zer0 likes it, there’s something wrong.
Too much money. No 2.7 trillion. How about 1 trillion for the next 18 months, you know shared sacrifice and all, bo only gets 1 trillion to buy votes with.
We’ll ‘’cut’’ 2.7 trillion (counting the ending of expenditures for Iraq and Afghanistan) over ten years (maybe, mostly the ‘cuts’ are trimming increases) for 2.7 trillion in debt authorization for the next year. IE: Give us 2.7 trillion to blow through, we’ll give you empty promises.
Not only no deal, I’d just for once like to see a reporter stand up and ask ‘what do you anticipate the cost of borrowing 2.7 trillion dollars to be, and did you account for that in your budget plan?’
And $1.2T would come from cuts in discretionary spending.
Yup...if Odumbo agrees to a Dem deal, there is absolutely something wrong.
I thought the proposed raise in the debt ceiling was minimal and temporary, so "O" would have to come up with a better plan in the interim or stuggle with this issue while campaigning.
Remember that the Rat definition of “cut”, is slightly less $$ in planned increases (maybe).
It's only wrong for Zer0. He has to take it or he'll have to face this same debate again in an election year with the 2-step plan.
He's having to concede to MORE cuts than the debt hike with NO tax increase which is exactly what Boehner and Cantor have been calling for.
LOL. He is getting NOTHING he wants with the possible exception of saving Medicare from being included so the Dems can have that for an election issue.
This is a big win for Boehner.
He did not win; Boehner only introduced the Mar '12 idea in the last couple of days to corner Obama.
Obama has lost bigtime...no tax hikes!!
Why does the Reid plan say through 2012; and give me a list of the cuts in the bill, there will never be any.
Then why is Boehner proposing something else?
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