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LIVE COVERAGE: Congressional Debt Ceiling Showdown
Business Insider ^ | 7/30/11 | Zeke Miller and Joe Weisenthal

Posted on 07/30/2011 8:38:07 AM PDT by silentknight

10:56am | Good Saturday morning.

The House and Senate will convene at 1pm today. The House will likely go out of session after a vote on the Reid plan to raise the debt limit, while the Senate will stick around until 1 am Sunday to vote to end debate on the plan.

Read more: http://www.businessinsider.com/live-coverage-congressional-debt-ceiling-showdown-2011-7#ixzz1TbPkr4wi

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


TOPICS: Breaking News; News/Current Events; Politics/Elections
KEYWORDS: 112th; 2012budget; boehner; budgetbattles; ceiling; debt; debtceiling; debtdeal; debtdealshowdown; debtlimit; default; house; mcconnell; obama; reid; senate
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1 posted on 07/30/2011 8:38:13 AM PDT by silentknight
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To: silentknight

10:57am | Boehner calls Reid bill “dead on arrival” in the House:

From Speaker of the House John Boehner’s blog:

“Today the House of Representatives will bring up – and defeat – Senate Majority Leader Harry Reid’s debt limit legislation. This vote will demonstrate that the Reid bill cannot pass the House. This will also expose any Senate vote on the Reid bill as a pointless political exercise that squanders precious time as the specter of a job-crushing default looms.”

Read more: http://www.businessinsider.com/live-coverage-congressional-debt-ceiling-showdown-2011-7#ixzz1TbPriFIj


2 posted on 07/30/2011 8:38:41 AM PDT by silentknight
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To: silentknight

11:00am | Snowe calls for compromise.

Sen. Olympia Snowe (R-ME), a moderate Republican Reid hopes to bring over to support his proposal has released a statement calling for bipartisanship to end the negotiating impasse.

“Time is of the essence, and the moment has long since arrived for shelving politics and instead striking the right policy. Hopefully now all sides will work together in an expeditious manner to work out the issues and bring us closer to agreement. I do find it rather ironic that for this entire year, this Senate, described as ‘least productive’ at a time that coincides with one of the most challenging economic periods of our nation’s history, has done nothing substantial, rejecting numerous opportunities to pursue policies important to our job creation, boosting our economy, and doing what is right for the fiscal stability of our nation.”

Read more: http://www.businessinsider.com/live-coverage-congressional-debt-ceiling-showdown-2011-7#ixzz1TbPriFIj


3 posted on 07/30/2011 8:39:13 AM PDT by silentknight
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To: silentknight

Snowe wants to fold and help Dingy Harry out, but I think her wishes are dead in the House.


4 posted on 07/30/2011 8:42:19 AM PDT by Cicero (Marcus Tullius.)
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To: silentknight

>>>Sen. Olympia Snowe (R-ME), a moderate Republican Reid hopes to bring over to support his proposal has released a statement calling for bipartisanship to end the negotiating impasse.

Bipartisanship in her world means, “Bend over, Dingy Harry’s driving.”


5 posted on 07/30/2011 8:43:24 AM PDT by Keith in Iowa (Hope & Change - I'm out of hope, and change is all I have left every week | FR Class of 1998 |)
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To: silentknight

I think we need a referendum on abolishing the federal government altogether. I would certainy support it.


6 posted on 07/30/2011 8:43:31 AM PDT by madprof98 ("moritur et ridet" - salvianus)
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To: silentknight
Boehner calls Reid bill “dead on arrival” in the House:

Now that's good to hear.

7 posted on 07/30/2011 8:43:36 AM PDT by Principled
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To: silentknight

President Obama Is No Longer Tethered To Reality

http://blogs.forbes.com/peterferrara/2011/07/28/president-obama-is-no-longer-tethered-to-reality/

Finally on Monday night, Obama threatened America’s seniors with more, saying that if House Republicans don’t agree to his tax increase to increase the debt limit, “we would not have enough money to pay the bills — bills that include monthly Social Security checks.” This can only be described as calculated deception.


8 posted on 07/30/2011 8:44:06 AM PDT by silentknight
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To: silentknight
Time is of the essence, and the moment has long since arrived for shelving politics and instead striking the right policy.

Then why has Reid tabled two bills instead of allowing members to debate? ==> He's using you, again [obamacare]

9 posted on 07/30/2011 8:45:23 AM PDT by Principled
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To: silentknight

talk about wet snow

Is voting with democrats the only way she gets invited out to dinner?


10 posted on 07/30/2011 8:45:33 AM PDT by silverleaf (All that is necessary for evil to succeed, is that good men do nothing)
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To: silentknight

The bottom line is that Republicans need to get out front now and say this..

No plan that Harry Reid or Obama have put forward is going to stop the rating agencies from downgrading the USA credit rating.

It is time for serious cuts, Cut Cap and Balance would have added the security needed for these agencies to keep America’s credit rating at a triple A rating.

Senate Democrats and Obama refused to even vote on the plan that would have actually worked.


11 posted on 07/30/2011 8:46:47 AM PDT by Typical_Whitey (Ask a liberal to explain how tax increases create jobs in America)
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To: silentknight

usually the democrat cowgirls herd the rinos where they want them.

it just takes time.


12 posted on 07/30/2011 8:48:02 AM PDT by ken21 (dem + rino progressives -- destroying america for 150 years.)
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To: silentknight
“Finally on Monday night, Obama threatened America’s seniors with more, saying that if House Republicans don’t agree to his tax increase to increase the debt limit, “we would not have enough money to pay the bills — bills that include monthly Social Security checks.”

The Republican response should be that if that were true, then it's because Obama robbed them and spent their social security money on his agenda. In fact, that would be a nice one-liner: ‘Obama spent your social security money.’

13 posted on 07/30/2011 8:48:08 AM PDT by pieceofthepuzzle
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To: silentknight

Showdown? SHOWDOWN?!!!! It’s going to be a Boehner/Repuclican beat down!


14 posted on 07/30/2011 8:48:31 AM PDT by Bushbacker1 (I miss President Bush greatly! Palin in 2012! 2012 - The End Of An Error! (Oathkeeper))
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To: Principled

Limpie went all bi-partisan on obamacare

and Maine got a waiver from it

HYPOCRITE “and” a useful tool


15 posted on 07/30/2011 8:48:37 AM PDT by silverleaf (All that is necessary for evil to succeed, is that good men do nothing)
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To: silentknight

The elitist jack-asses in the Senate just don’t get it: cut the damn spending!! We don’t have the money! Lower our damn taxes! Stop foreign aid to Egypt, Pakistan, Israel, China and a hundred other countries that hate us.
Take care of Amercian citizens first, and foremost.


16 posted on 07/30/2011 8:48:37 AM PDT by ransacked
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To: silentknight

CNN Poll today: Which party deserves more blame for the U.S. debt-ceiling standoff?

http://www.cnn.com/

Liberals are killing us.


17 posted on 07/30/2011 8:48:54 AM PDT by Attn to Detail
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To: Typical_Whitey

I found these tables helpful in trying to see where these plans are taking us.
http://www.cbo.gov/ftpdocs/112xx/doc11231/frontmatter.shtml#1014410


18 posted on 07/30/2011 8:49:37 AM PDT by IM2MAD
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To: Cicero
Honest to God, are these two dingbats from Maine going to get primary challenges or what. One of them has to be up for reelection this year, can't we find and support a person to run them off in the primary.

A democrat would be better than either one of these old political whores, at least we would be less disappointed.

19 posted on 07/30/2011 8:49:54 AM PDT by Jim from C-Town (The government is rarely benevolent, often malevolent and never benign!)
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To: silentknight

I admit it, I’m confused. The general consensus among conservatives who opposed the Boehner bill, is that we have gotten screwed, because Reid will strip out everything from the Boehner bill, load up all the Dem stuff, and send it back to the House on Monday, where suppsoedly the GOP will cave, due to the pressure of impending default. All the Dems, and some Pubbies will pass the bill. I can’t see the GOP caucus cracking like that..


20 posted on 07/30/2011 8:50:21 AM PDT by ken5050 (Save the earth..it's the ONLY planet with CHOCOLATE!!!)
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To: Typical_Whitey
It is time for serious cuts,

YES real cuts - not just cuts in the rate of expenditure increases.
21 posted on 07/30/2011 8:51:25 AM PDT by Cheerio (Barry Hussein Soetoro-0bama=The Complete Destruction of American Capitalism)
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To: Keith in Iowa

Missouri’s new senator Blunt is rumored to be throwing in with Reid & Co.
Not unexpected...


22 posted on 07/30/2011 8:52:26 AM PDT by Eric in the Ozarks (Eh ?)
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To: ken5050
I can’t see the GOP caucus cracking like that..

I don't either. The pressure is on the squishy ones to hold the line. Thanks to the TEA folks for allowing the latest Boehner bill to pass, the squishy folks are more likely to hold firm. They simply know that they will not be reelected if they blow it - they don't wonder, they KNOW.

TEA made itself stronger last night IMO - and boy do we need that. Reid has two bills now that would have given them what they wanted. Now make Reid debate them. Or no increase.

23 posted on 07/30/2011 8:54:18 AM PDT by Principled
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To: pieceofthepuzzle

Barky can’t delay social security,

“the Jeffersons” are already packed to par-TAY in Chicago and then head for two weeks of lobsta and slurpies on Martha’s Vineyard


24 posted on 07/30/2011 8:54:18 AM PDT by silverleaf (All that is necessary for evil to succeed, is that good men do nothing)
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To: Typical_Whitey

I would say that the Republicans are losing the PR battle. From what I have read online on forums and postings. It seems like this is all one big show for the cameras.

The fix is and has been in for awhile. Or so it seems.


25 posted on 07/30/2011 8:55:29 AM PDT by silentknight
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To: ransacked

I totally agree with except on Israel - among all those nations on your list, Israel is America’s only friend - we must not, cannot abandon them.


26 posted on 07/30/2011 8:56:37 AM PDT by Nevadan
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To: silentknight
Reid's bill assumes Congress won't fix the AMT at the end of 2011 (which they always do). Ignoring the AMT results in 3.8 Trillion assumed savings. Reid's bill also "saves" another cool Trillion by cutting defense budgets (Iraq/Afghanistan) for spending that's not even supposed to occur.

Jeff Sessions brings up more problems in this bill, worrying about tax increases after losing the "savings" from the AMT expiring (and other tax cuts set to expire). Part of the bill allows the Joint Select Committee to "include recommendations and legislative language on tax reform.”
Analysis says Reid's budget plan contains gimmicks that could result in tax increases
27 posted on 07/30/2011 8:57:13 AM PDT by Girlene
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To: Bushbacker1

Did Obama win the PR battle because

1. He had the prime time television coverage - bully pulpit?
2. America is so stupid that they just don’t understand what is happening?
3. Republicans have no idea how to win the minds of the American public?
4. Republicans don’t know how to deliver the message or fight this type of battle?

How can so many Americans be so stupid? I am reading media facebook pages and overwhelmingly the American people blame the dirty old rich people and Republicans.


28 posted on 07/30/2011 8:58:39 AM PDT by silentknight
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To: Attn to Detail

You beleive anything on CNN??????


29 posted on 07/30/2011 9:00:57 AM PDT by dusttoyou ("Progressives" are wee-weeing all over themselves, Foc nobama)
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To: ransacked

We don’t have the money! Lower our damn taxes! Stop foreign aid to Egypt, Pakistan, Israel, China and a hundred other countries that hate us.
Take care of American citizens first, and foremost.


Amen - those should be the first to cut before throwing Americans off the cliff. Plus throw in nation building in the war countries and charging countries for providing their defense. Those foreign lobbies must be strong for Congress never puts any cuts on their interests.


30 posted on 07/30/2011 9:02:01 AM PDT by ex-snook ("Above all things, truth beareth away the victory")
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To: silentknight
You forgot one option.....................
1. He had the prime time television coverage - bully pulpit?
2. America is so stupid that they just don’t understand what is happening?
3. Republicans have no idea how to win the minds of the American public?
4. Republicans don’t know how to deliver the message or fight this type of battle?
5. All of the above.
31 posted on 07/30/2011 9:02:42 AM PDT by Cheerio (Barry Hussein Soetoro-0bama=The Complete Destruction of American Capitalism)
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To: Girlene

http://beyondthecusp.wordpress.com/2011/07/30/coming-weekend-emergency-debt-debate/

Snip

Well, President Obama came out Friday again and once again threw down his gauntlet challenging the House Republicans to pass a bill in bipartisan unity with the Senate sending legislation to the President that he can sign before the country defaults on the debt payment due Tuesday. Unfortunately, what the President actually did was a tad different than this rendition which I predict most of the media will use to some extent in their coverage. Truth be told, President Obama threw a temper tantrum where he lightly tossed a delicate lacey silk evening glove in the general direction of Speaker Boehner and the Republicans double daring them not to keep their promise to the American people and in a huff he insisted they include tax increases as part of the debt ceiling raise, and place less importance on spending cuts. He whined that he was upset and about to cry and would hold his breath until he turned blue and pout and not eat his peas unless they come with a tax increase to make those terrible mean old rich peoples pay their fair share. He was later seen in the Oval Office sucking his thumb while kicking his legs and waving his other arm crying on the floor sputtering about how mean those nasty Republicans were and claimed if they did not play nicely, he would take his ball and go home, then see what they will do.


32 posted on 07/30/2011 9:07:30 AM PDT by silentknight
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To: Cheerio

Honestly, from what I see online, I believe we are dealing with a bunch of Americans who have absolutely no clue how the economy works. They actually believe that Obama is going to shut down Social Security.


33 posted on 07/30/2011 9:08:48 AM PDT by silentknight
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To: silentknight
The thing is that Obama, Reid, Pelosi and the other Dems have not forgotten the last election. They are playing "pay back." On purpose the Dems are holding the American public hostage for electing the Tea Party supported candidates. They have no concern about the real problem, all they want to do is punish the voters who elected all those Republicans.

The Democrats have been sour since they lost in November. They are being vindictive out of spite and holding out, clouding up the issue, lying, and...in Obama's case... being noncommittal and "like jello" when it comes to taking a leadership position. It has become so confusing that the public can hardly follow what is going on. Like attorneys who create chaos in a courtroom with nonsensical suppositions, the Dems just want to confuse the public so we give up, go away, and ignore what ends up being passed.

They are also, as usual, playing the blame game as part of their retaliation, and so far they are succeeding. With the help of all the liberal media, the Republicans are the ones who are taking the fall in the eyes of citizens who are not willing to listen to anyone but the talking heads on MSNBCCNNCBSNBCPBS who, of course, are in bed with the hateful, vengeful Democrats.

Truly, I hate what has happened in America...especially in Washington. I can't see anything good coming out of there in the future.

34 posted on 07/30/2011 9:08:48 AM PDT by CitizenM (He who is silent is understood to consent)
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To: silentknight
BASELINE BUDGETING (This is the "reason" spending always Has to go up)
35 posted on 07/30/2011 9:09:55 AM PDT by mewzilla (Forget a third party. We need a second one.)
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To: silentknight

It’s acutally very easy to understand. Whoever sends me a check or promises one is the one I vote for. We have become a nation of moochers.


36 posted on 07/30/2011 9:12:15 AM PDT by animal172 (Does anyone even remember the USA of old?)
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To: mewzilla

Yes - but doesn’t Mack’s One Percent Solution dissolve that kind of thinking?

Hell using baseline budgeting, Mack’s bill cuts 8% in yr 1, 16% in yr 2, etc. I think.

Shows ta go ya just how bad “baseline budget” is for understanding. In baseline budgeting, isn’t there assumed a 7% annual increase?


37 posted on 07/30/2011 9:13:28 AM PDT by Principled
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To: Nevadan

There is nothing special about them at all. Cut all foreign aid till we get OUR house in order. Tired of squandering billions all over the globe and we get jack in return. Its time WE paid down OUR debts. THEN we can go and talk about foreign aid.


38 posted on 07/30/2011 9:18:09 AM PDT by Soothesayer9
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To: Typical_Whitey

This is all political theater. Boehner, Reid, and Obama have already agreed to a deal. Once the Senate bill is defeated, then the real bill will emerge and be passed by both the Senate and the House. The Dems in the House will vote overwhelmingly for it and the bill will be passed with Rep help. The Tea Party members of Congress can vote against it as political cover. The fix is already in.


39 posted on 07/30/2011 9:21:57 AM PDT by kabar
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Comment #40 Removed by Moderator

To: kabar

You are absolutely right...In the old circus days, this would be called the greatest show on earth. Clowns, acrobats, wire walkers and trained beasts.


41 posted on 07/30/2011 9:30:52 AM PDT by PoloSec ( Believe how that Christ died for our sins, was buried and rose again for our justification)
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To: Typical_Whitey
It is time for serious cuts, Cut Cap and Balance would have added the security needed for these agencies to keep America’s credit rating at a triple A rating.

CCB is garbage too -- The cuts amount to NOTHING.

I am afraid the only way "real" cuts will ever happen is total economic collapse. Short of that, nothing meaningful will happen.

Our Republic is too far down the road to Socialism to be turned around. The EVIL left owns most of our institutions and have successfully weakened the mindset of enough Americans to guarantee the trajectory of our future -- Socialism.

42 posted on 07/30/2011 9:35:48 AM PDT by sand88 (Sarah Palin announces her run: August 12, 2011 11:10am ET)
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To: Principled

I think what has changed and what is significant was Thursday night’s non-vote. The Tea Partiers did not fall for it. This means that any bill from the senate, crafted by Reid, will also not pass.

I predict that August 2 will come and go with no bill. This if the House barely passed a Boenher bill with the Balanced Budget Admendment, it will not pass the crap that Reid and McConnell will put together.

IMO, Hussien and the jackass’s are not in control. The Tea Party is. People will wake up on August 3 are realize that the sun did come up and people are going to work and then realize that all this panicky talk was just that.


43 posted on 07/30/2011 9:36:29 AM PDT by TMA62 (Al Sharpton - The North Korea of race relations)
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To: silentknight

44 posted on 07/30/2011 9:44:03 AM PDT by Liberty Valance (Keep a simple manner for a happy life :o)
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To: Attn to Detail

Don’t believe anything you see on The Communist News Network.

They do push polls. Most of the idiots they poll are democraps.


45 posted on 07/30/2011 9:45:52 AM PDT by july4thfreedomfoundation (Palin / West in 2012 or West / Palin. Either combination will serve America well.)
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Comment #46 Removed by Moderator

To: Attn to Detail

Oh please, do you seriously think that poll has any credibility? Kos and DUmmie land are hitting that poll and after all, it is CNN.


47 posted on 07/30/2011 9:54:23 AM PDT by mojitojoe ( 1400 years of existence & Islam has 2 main accomplishments, psychotic violence and goat curry)
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To: silverleaf
Movin’ on up

48 posted on 07/30/2011 9:56:17 AM PDT by mojitojoe ( 1400 years of existence & Islam has 2 main accomplishments, psychotic violence and goat curry)
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To: TMA62
I think what has changed and what is significant was Thursday night’s non-vote. The Tea Partiers did not fall for it. This means that any bill from the senate, crafted by Reid, will also not pass

There will be a compromise bill coming out of the Senate that will pass. McConnell and a bunch of the Rep Rinos will support it along with most of the Dems. The House will then pass it with the Dems heavily supporting it along with most of the Reps. The killing of the Boehner and Reid bills is part of the political theater/cover. After that, the real bill is passed. It will all be done by August 2nd with both sides claiming victory. The only losers are the American people.

49 posted on 07/30/2011 9:56:25 AM PDT by kabar
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To: silentknight
LOL, I can visualize that! More on Reid's shennanigans. Reid changing debt ceiling plans to woo Republicans

This article talks about some of the changes Reid is proposing, and further explains some of the possible tax traps that Amanda Carey explained in the previous link I posted. Here's their take:

.............."the Reid plan has a big and unpleasant surprise for Republicans on taxes. Reid’s figures rely on current law — and current law has all of the Bush-era tax rates expiring and rising to their previous levels. It also assumes that Congress won’t provide a “patch” for the AMT:"..................

........"Total tax hike over 10 years, according to the GOP analysis? $3.8 trillion. And those would not just be tax hikes on the “wealthy,” either. Those tax hikes would hit the middle class like a freight train, both on basic rates and the AMT creep that Congress has parried for years. If this analysis is correct, Reid either wants to hit the US with the biggest tax hike in its history, or he’s offering bogus deficit reduction that will never occur."....................
50 posted on 07/30/2011 9:57:59 AM PDT by Girlene
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