Posted on 07/30/2011 10:29:03 PM PDT by Ernest_at_the_Beach
With the prospect of a government default just three days away, the White House entered intense negotiations with Senate Minority Leader Mitch McConnell on Saturday in a last-ditch bid to forge a bipartisan agreement to raise the federal debt limit.
Shortly after 10 p.m., Senate Majority Leader Harry M. Reid (D-Nev.) announced that talks between McConnell (R-Ky.) and Vice President Biden had made significant progress, prompting Reid to delay a vote that had been scheduled for 1 a.m. Sunday on his own debt-limit measure.
“There are negotiations going on at the White House to avert a catastrophic default on the nation’s debt,” Reid said, after announcing that the vote had been pushed back to 1 p.m. Sunday. “There are many elements to be finalized, and there is still a distance to go before any arrangement can be completed. But I believe we should give everyone as much room as possible to do their work.”
He added: “I’m glad to see this move toward cooperation and compromise. I hope it bears fruit.”
The emerging agreement calls for raising the $14.3 trillion debt limit by up to $2.4 trillion in two stages, with the debt limit rising unless two-thirds of both chambers of Congress disapprove, according to officials in both parties familiar with the talks. That would extend the Treasury’s borrowing authority into 2013, satisfying President Obama’s demand to avoid another showdown over the issue in the heat of the 2012 presidential campaign.
(Excerpt) Read more at washingtonpost.com ...
That Dufus McConnell has to go. After this whole exercise the Republicans will make Odumbo the Hero.
McConnell you are a Putz
So after all of this Odunbo gets to go out and Borrow another 2.4 trillion dollars. Who is going to Loan us another 2.4 trillion? I guess they will go to Bernake and tell him to go into the Basement and turn on the Printing presses to print more worthless paper as we Loan ourselves the money. Nice when you can print your own money.
“I hope it bears fruit.”
A piece of FRUIT damned the human race and got us thrown out of the Garden. I think that I see who “mitch the mooch” mcconnel is truly aligned with.
LLS
McConnell is not negotiating he is trying to add a pork project and make a little money, that is what he aways does.
When is the press going to TELL THE TRUTH?
Answer:
Never and never.
No, they raise it through 2013....that’s what these bastards wanted... That’s the only thing they wanted...
No, they raise it through 2013....that’s what these bastards wanted... That’s the only thing they wanted...
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