Harry Reid
Posted on 07/29/2011 8:58:12 PM PDT by tobyhill
Senate Majority Leader Harry Reid (D-Nev.) has revised his plan to raise the debt limit in a last-ditch bid to attract Republican support.
The biggest change is that Reid would give the president almost unilateral power to raise the debt limit, borrowing an idea introduced by Senate Republican Leader Mitch McConnell (R-Ky.).
Reid would have President Obama request a $2.4 trillion debt-limit increase in two installments of $1.2 trillion each. The requests would be subject to congressional resolutions of disapproval, but these would do little to restrict the president.
(Excerpt) Read more at thehill.com ...
Boehner and Reid have been doing backroom deals for some time now.
No, it's the rope by which we hang ourselves....oppose this poison pill and the Dems have an instant, "But it was YOUR IDEA!!" soundbyte ready for play from here to eternity.
Thanks for nothing, Mitch.
Can’t wait!
Can’t wait!
Harry Reid
Why do we even have a Congress, if they’re just going to roll over and let Obama do whatever he pleases? What is the hold this overgrown child has over the American people??
I can’t believe what I’m seeing. What happened to America??!!
” Resolution of Disapproval”
Or they could just fart in their general direction.
I mean, contemplate that. I live in California, we've got hell of a high sales tax rate (8.75 percent.) Over half again as much of every dollar earned, Obama wants to borrow.
Let's put it another way. Obama wants to borrow over the next fifteen or so months the entire gross domestic product of the UK! Each installment is equal to the entire GDP of Australia.
The House needs to do one thing, and one thing only. Daily vote to slash the federal budget. Flood the senate with bill after bill after bill which they have to table, and watch the fur fly as a defacto balanced budget restriction falls upon the federal government as they're forced to use taxes as they come in rather than borrow more money.
I mean, it's a joke. The United States wants to borrow 2 cents of every dollar made anywhere on the planet per year. To have a budget deficit that is equal to one third of the entire GDP of Germany, or a quarter of China's. This just boggles the mind.
Republicans are now going to fold because they’re afraid Chrissy Matthews will say mean things from them. Boehner will appear on Rush and Laura and make some rationalization that will amount to “But we’d get the blame if we stood in the way.”
It’s that standing in the way that you’re being paid to do.
I don’t hate Boehner the way some here seem to, but he had a taste of doing the right thing and now he’s folding.
Republicans are now going to fold because they’re afraid Chrissy Matthews will say mean things from them.Wanna bet?
If Reid’s plan or a variation of it is approved, the USA will very rapidly become Greece or Argentina. Interest rates will shoot up. The bond rating will be downgraded (a near certainty as it is.) The dollar will continue to decline.
You cannot borrow and spend beyond your means forever. The Tea party approach is the last possibility of reducing spending voluntarily. The Dems do not care they are only concerned with power and reelection in 2012
Reid is at least 2 RINOs short right now.
No worry, the rest of the rino herd will soon appear.
Tell him it’s dead in the House before he even sends it over.
Good point. That’s how we know the fix was in already.
Boner, tell Dingy that his bill is DOA
Won’t happen, the same Tea Party house members that voted for Boner’s bill, (kinda like Ron Paul’s earmarking scams) will now vote against dingy harry’s, but there will be enough pubbies + dems to vote yes and get it passed.
I smell a Boner rat set up here. The GOP is now officialy the party of surrender monkey wimps.
(L to R: Obama, Boehner, Reid)
Nobody in DC wants to correlate the rising debt ceiling with declining jobs.
The rising debt ceiling has two consequences....
more regulation ...
to occupy employees in expanding federal bureaucracies...which expand because “they have more money” and another layer of bureaucrats need their 20 year promotions... Each round of regulatory expansion is the effective equivalent of another targeted tax increase on the object of the regulation.
more taxes...
The rising debt ceiling has demands and expectations of creditors for new elements of “revenue raising” by the Feds...taxes or fees.
In this strangling environment job creation is simply NOT possible.
In fact the only logical conclusion..can be ..is that the Federal apparatus -initially an asset to the United States..by virtue of its abilities to raise an effective Navy in the late 1700’s, and early 1800’s to facilitate overseas trade on behalf of the States, has become nothing other than the States greatest liability at this point in time. In the absence of profound regulatory and taxation reform-which is not capable of coming from the same minds that created the problem..we may well be at the end of the line.
For DC to face this fact...means the end of the K St-Congressional Party cycle in DC
Yep...TABLE it!
Congress is worse than worthless. It needs to collapse. It is a stain and drain on the country.
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