Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

LIVE COVERAGE: Lawmakers In "General Agreement" Sunday edition
Business Insider ^ | 7/31/2011 | Zeke Miller and Joe Weisenthal

Posted on 07/31/2011 9:30:27 AM PDT by silentknight

12:04pm | Reid vote still scheduled for 1pm.

Senate Majority Leader Harry Reid said the Senate will still vote on his plan to raise the debt limit today.

Reid reading from AP report citing soldiers concerned about supporting their families if debt limit isn't raised.

Reid says he and Obama are "hopeful" that a deal is near. "We are cautiously optimistic," adding serious issues remain to be resolved in the next few hours.

"There's no agreement that has been made, but we're optimistic one can be reached."

Reid thanks McConnell for being a "cheerleader" on this compromise.

Read more: http://www.businessinsider.com/live-coverage-debt-ceiling-sunday-negotiations-2011-7#ixzz1ThTEm13A

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


TOPICS: News/Current Events
KEYWORDS: ceiling; debt; debtdeal; debtdealcavein; debtdealshowdown
Navigation: use the links below to view more comments.
first 1-5051-83 next last

1 posted on 07/31/2011 9:30:28 AM PDT by silentknight
[ Post Reply | Private Reply | View Replies]

To: silentknight

The Treasury decides what gets paid and when. Soldiers and others will be paid of they want them paid. There is more than enough money. The issue about the military being paid is a red herring.


2 posted on 07/31/2011 9:31:54 AM PDT by isthisnickcool (Sharia? No thanks.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: silentknight

Perhaps the most alarming numbers (which I have not heard much discussion on) are these numbers below

People are saying this is a great deal - the budget is being cut - savings - other

But if this information below is true then the discussion should be about what is going to happen over the next 5 to 10 years. The debt goes up and up and up and up and up.


Large as “cuts” of $2.9 trillion might appear, in fact they’re minuscule compared to Washington’s embedded (“baseline”) plan to spend $45.8 trillion over the coming decade (2011-2021), as recently forecasted by the independent Congressional Budget Office (CBO). In the past decade (2001-2010) Washington spent $28.3 trillion, so “baseline” outlays in 2011-2012 would entail a decadal increase of 62%. That’s not the biggest spending boom in U.S. history, but neither would it be anything close to “austerity,” as many critics claim.

Even the most “radical” GOP plan, to “cut” $9 trillion, would boost federal outlays by 30% in the coming decade versus outlays in the past decade, while the most modest GOP plan, to cut a mere $2 trillion, would boost outlays by 55%. Yet Democrats lambaste GOP plans as “Draconian,” prone to trigger a “depression.”

http://blogs.forbes.com/richardsalsman/2011/07/29/washingtons-budget-cuts-would-boost-spending-50/


3 posted on 07/31/2011 9:32:02 AM PDT by silentknight
[ Post Reply | Private Reply | To 1 | View Replies]

To: isthisnickcool

They have no shame. Scaring senior citizens and military. They have absolutely no shame. How do they sleep at night?


4 posted on 07/31/2011 9:32:57 AM PDT by silentknight
[ Post Reply | Private Reply | To 2 | View Replies]

To: isthisnickcool

This here should be echoed in every single discussion

Large as “cuts” of $2.9 trillion might appear, in fact they’re minuscule compared to Washington’s embedded (“baseline”) plan to spend $45.8 trillion over the coming decade (2011-2021), as recently forecasted by the independent Congressional Budget Office (CBO)

again

Large as “cuts” of $2.9 trillion might appear, in fact they’re minuscule compared to Washington’s embedded (“baseline”) plan to spend $45.8 trillion over the coming decade (2011-2021), as recently forecasted by the independent Congressional Budget Office (CBO)

I know that it takes awhile to sink those numbers into our head. Imagine this thread a few years from now.


5 posted on 07/31/2011 9:34:31 AM PDT by silentknight
[ Post Reply | Private Reply | To 2 | View Replies]

To: isthisnickcool

This little nugget isn’t lost on most of us, either

Reid thanks McConnell for being a “cheerleader” on this compromise.


6 posted on 07/31/2011 9:35:25 AM PDT by silentknight
[ Post Reply | Private Reply | To 2 | View Replies]

To: silentknight

Dingy Harry, Drama Queen


7 posted on 07/31/2011 9:40:10 AM PDT by bigbob
[ Post Reply | Private Reply | To 1 | View Replies]

To: silentknight

http://www.cagle.com/news/KickTheCan/main.asp


8 posted on 07/31/2011 9:40:18 AM PDT by silentknight
[ Post Reply | Private Reply | To 6 | View Replies]

To: bigbob

http://www.cagle.com/news/ObamaPeas/main.asp


9 posted on 07/31/2011 9:42:26 AM PDT by silentknight
[ Post Reply | Private Reply | To 7 | View Replies]

To: silentknight

They’re gonna have to print like mad. No other way around it.

Their “growth”/revenue projections are most likely a fantasy. If interest rates go up, we go from simply being screwed to totally doomed. We’ll be looking back, longing for the days when we were screwed.


10 posted on 07/31/2011 9:43:29 AM PDT by KoRn (Department of Homeland Security, Certified - "Right Wing Extremist")
[ Post Reply | Private Reply | To 5 | View Replies]

To: silentknight

Sens. McConnell, Kyle and McCain (and others) are so used to having their butts kicked on a regular basis, that today is just another day at the office.

The only victories they can secure to make themselves feel better is beating up on movement conservatives.


11 posted on 07/31/2011 9:43:34 AM PDT by taxcutisapayraise (Making Statism Unpopular)
[ Post Reply | Private Reply | To 1 | View Replies]

To: bigbob

12:26pm | Republican Senators to meet at 1:45 for briefing on the debt limit negotiations.

Read more: http://www.businessinsider.com/live-coverage-debt-ceiling-sunday-negotiations-2011-7#ixzz1ThWXfFIk


12 posted on 07/31/2011 9:43:49 AM PDT by silentknight
[ Post Reply | Private Reply | To 7 | View Replies]

Comment #13 Removed by Moderator

To: KoRn

Imagine what gold will cost. Someone said it normally goes up about $100 per trillion dollars in debt. Someone on here posted a graphic the other day showing this move.


14 posted on 07/31/2011 9:45:15 AM PDT by silentknight
[ Post Reply | Private Reply | To 10 | View Replies]

To: silentknight

Lawmakers In “General Agreement” Lawmakers In “General Agreement”

Must be series given the double in the title.


15 posted on 07/31/2011 9:47:20 AM PDT by umgud
[ Post Reply | Private Reply | To 1 | View Replies]

To: AmericanPatriot2012

Sigh

CNN talking about how this deal is going to create all sorts of new jobs. This deal is going to save the economy. Best thing since apple pie. But only if we can get this deal done.

Where have we heard this before?


16 posted on 07/31/2011 9:48:38 AM PDT by silentknight
[ Post Reply | Private Reply | To 13 | View Replies]

To: umgud

oops


17 posted on 07/31/2011 9:49:10 AM PDT by silentknight
[ Post Reply | Private Reply | To 15 | View Replies]

To: silentknight
"General Agreement"

Visual Kabuki translation :


18 posted on 07/31/2011 9:51:35 AM PDT by mrsmith
[ Post Reply | Private Reply | To 1 | View Replies]

To: silentknight

I like that! Peas be upon them all...


19 posted on 07/31/2011 9:53:44 AM PDT by bigbob
[ Post Reply | Private Reply | To 9 | View Replies]

To: AmericanPatriot2012

Everyone in the house ans senate (well most everyone) should be given acting awards. Perhaps a Grammy.

It is like a bad Hollywood movie.


20 posted on 07/31/2011 9:54:53 AM PDT by silentknight
[ Post Reply | Private Reply | To 13 | View Replies]

To: silentknight
Lawmakers seem to have decided the national debt should equal the national trade deficit, but neither are related.
21 posted on 07/31/2011 9:54:55 AM PDT by no-to-illegals (Please God, Protect and Bless Our Men and Women in Uniform with Victory. Amen.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: umgud

22 posted on 07/31/2011 9:55:33 AM PDT by shooter223 (the government should fear the citizens......not the other way around)
[ Post Reply | Private Reply | To 15 | View Replies]

To: silentknight

ans=and

Wish FreeR had an edit button!


23 posted on 07/31/2011 9:55:33 AM PDT by silentknight
[ Post Reply | Private Reply | To 20 | View Replies]

To: silentknight

LOL, you will really piss the republican cook aide drinkers off posting that type of information, they are running around trying to rub Vaseline on the tax payers rears and tell them it was all a bad dream. Vote for the republicans we can change this in the year 2050, sure.


24 posted on 07/31/2011 9:56:48 AM PDT by org.whodat (What does the Republican party stand for////??? absolutely nothing.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: silentknight

Reid: “Let’s get this done. Obama has a party to go to on the 4th.”


25 posted on 07/31/2011 9:58:55 AM PDT by hattend (As always... FUJM.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: silentknight

So now the Democrats are holding the members of the military as hostages? Does Reid mean he could never find a way to insure the military got paid? That doesn’t exactly inspire confidence.


26 posted on 07/31/2011 10:03:23 AM PDT by popdonnelly (The Liberal Era is over.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: KoRn

Reminded of my CONgress Rep Walz, D-Mn,

September 28, 2010...Walz ... he said efforts by the Democratic Congress to boost renewable energy and expand off-shore oil drilling will stabilize energy prices by making America less dependent on foreign oil.


27 posted on 07/31/2011 10:04:21 AM PDT by Son House (The Economic Boom Heard Around The World => TEA Party 2012)
[ Post Reply | Private Reply | To 10 | View Replies]

To: silentknight
Republican Senators to meet at 1:45 for briefing on the debt limit negotiations.

Shouldn't Senators be 'breifed' before the vote?
28 posted on 07/31/2011 10:06:20 AM PDT by Son House (The Economic Boom Heard Around The World => TEA Party 2012)
[ Post Reply | Private Reply | To 12 | View Replies]

To: silentknight
"Wish FreeR had an edit button!"

In a way it does. Before hitting Post, use the Preview button. :-)

29 posted on 07/31/2011 10:06:59 AM PDT by Spunky (“To compel a man to subsidize with his taxes the propagation of ideas which he disbelieves and abh)
[ Post Reply | Private Reply | To 23 | View Replies]

To: silentknight

T-shirts printed with image of U.S. President Barack Obama dressed in Communist Cultural revolution era military uniform are displayed for sale with others at a shop in Beijing, China, Sunday, July 31, 2011.
30 posted on 07/31/2011 10:18:46 AM PDT by Berlin_Freeper (Obama is making me sick.)
[ Post Reply | Private Reply | To 1 | View Replies]

Comment #31 Removed by Moderator

To: Spunky

Doh - you are right. I could edit before I hit the post button :)

1:01pm | Senate now voting for cloture on the Reid plan. It will fail.

Read more: http://www.businessinsider.com/live-coverage-debt-ceiling-sunday-negotiations-2011-7#ixzz1ThfaOrGA


32 posted on 07/31/2011 10:20:39 AM PDT by silentknight
[ Post Reply | Private Reply | To 29 | View Replies]

To: AmericanPatriot2012

Don’t forget Obama also saved us from another great depression. Let’s not forget that little nugget. Just look at all the jobs that were SAVED (note - not created).

Pick a number - any number - really - just pick a random number.


33 posted on 07/31/2011 10:21:57 AM PDT by silentknight
[ Post Reply | Private Reply | To 31 | View Replies]

To: silentknight

You don’t understand inflation.

Or demographics.


34 posted on 07/31/2011 10:28:00 AM PDT by Owen
[ Post Reply | Private Reply | To 5 | View Replies]

To: silentknight
Obama caved on nearly all fronts.

He's trying to save face by saying he got the one-tier deal, but he didn't. This deal still keeps the debt discussion going till November (when the second part must be done).

In addition the 2 tier idea didn't even enter the discussion until about 10 days ago; he's desperately trying to pretend he has something to take to his left-wing base LOL.

35 posted on 07/31/2011 10:33:37 AM PDT by Siena Dreaming
[ Post Reply | Private Reply | To 1 | View Replies]

To: AmericanPatriot2012
and everyone sing praise to the great Obama master negotiator

That's not going to happen.

Obama caved on all his priorities.

36 posted on 07/31/2011 10:35:57 AM PDT by Siena Dreaming
[ Post Reply | Private Reply | To 31 | View Replies]

To: AmericanPatriot2012

Money and Credit Creation (Monetary Inflation) in excess of Real GDP causes Price Inflation.

Price Inflation means the Purchasing Power of the Monetarily Inflating Currencies is being and will continue to be degraded, e.g. the Purchasing Power of the U.S. Dollar has declined about 97% in the last hundred years, and about 30% in the last decade (basis USDX, and much more basis Gold).
This excessive Fiat Money and Credit (i.e. Debt) Creation has already brought us to the threshold of Hyperinflation if one considers the Real Numbers rather than the Bogus Official Statistics.

**Shadowstats.com calculates Key Statistics the way they were calculated in the 1980s and 1990s before Official Data Manipulation began in earnest. Consider

Bogus Official Numbers vs. Real Numbers (per Shadowstats.com)

Annual U.S. Consumer Price Inflation reported July 15, 2011
3.56% vs 11.13 % (annualized June, 2011 Rate)

U.S. Unemployment reported July 8, 2011
9.2% vs 22.7%

U.S. GDP Annual Growth/Decline reported June 24, 2011
2.33% vs -2.60%

Interesting stats on just how much has changed with the dollar over the past decades.

http://www.marketoracle.co.uk/Article29569.html


37 posted on 07/31/2011 10:36:34 AM PDT by silentknight
[ Post Reply | Private Reply | To 31 | View Replies]

To: silentknight

We have to change from baseline budgeting. Must.


38 posted on 07/31/2011 10:36:47 AM PDT by Principled
[ Post Reply | Private Reply | To 4 | View Replies]

To: Siena Dreaming

The next election cycle will be incredibly nasty - negative.

It will be interesting to see if the Tea Party can put all of this into some context that Americans understand. Or if Obama will use his inspiring teleprompter skills to win over those who don’t get it.

Also will Obama be able to get those who put him into office - back out to vote.


39 posted on 07/31/2011 10:39:27 AM PDT by silentknight
[ Post Reply | Private Reply | To 35 | View Replies]

Comment #40 Removed by Moderator

To: silentknight

We need the Mack/Rand plan. Cap at currant spending then cut 1% a year for ten years!!!


41 posted on 07/31/2011 10:41:54 AM PDT by tallyhoe
[ Post Reply | Private Reply | To 3 | View Replies]

To: silentknight

We’ve been sold. No pol gets it. The one’s that talk the talk are in on it too. At this point if they’re not calling for revolution or secession, they don’t get it.


42 posted on 07/31/2011 10:44:10 AM PDT by demshateGod (The fool hath said in his heart, There is no God.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: tallyhoe

Did I just hear correctly that Dingy Harry changed his vote from yes to no?


43 posted on 07/31/2011 10:45:02 AM PDT by Kevin in California
[ Post Reply | Private Reply | To 41 | View Replies]

To: silentknight

Let me translate. GOP caved in again. This can only help the Tea Party.


44 posted on 07/31/2011 10:48:56 AM PDT by Diggity
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kevin in California

Yes


45 posted on 07/31/2011 10:49:17 AM PDT by novemberslady
[ Post Reply | Private Reply | To 43 | View Replies]

To: silentknight

Senate just blocked the Reid plan. Not sure exactly what they are up to.


46 posted on 07/31/2011 10:50:29 AM PDT by Chandalier (Obama is a Chicken Hawk!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kevin in California

Yes, purely procedural. So he can move cloture again should he desire to do so. I note the democrats die even get all the democrats to vote for cloture. The vote was only 50 for and 49 against, if you count Reid for cloture. They were still short 2 democrat votes.


47 posted on 07/31/2011 10:51:29 AM PDT by brydic1
[ Post Reply | Private Reply | To 43 | View Replies]

To: brydic1

OK, thanks, I get it now.


48 posted on 07/31/2011 10:52:41 AM PDT by Chandalier (Obama is a Chicken Hawk!)
[ Post Reply | Private Reply | To 47 | View Replies]

Scot from mass voted yes, manchin and nelson from nebraska voted no.


49 posted on 07/31/2011 10:53:42 AM PDT by novemberslady
[ Post Reply | Private Reply | To 47 | View Replies]

To: Chandalier

1:26pm | Cloture vote on Reid measure fails.

As expected, Reid did not have the required 60 votes to end debate on his plan. Reid voted no on his plan to be sure he can maintain the “House vehicle” — the underlying Boehner plan — to get expedited consideration of the ultimate compromise to raise the debt limit.

All Republicans but Sen. Scott Brown (R-MA) and Democrats Joe Manchin (D-WV), Ben Nelson (D-NE), and Bernie Sanders (D-VT) voted against ending debate on the Reid measure.

The final tally: 50-49. 60 yea votes were required.

Read more: http://www.businessinsider.com/live-coverage-debt-ceiling-sunday-negotiations-2011-7#ixzz1ThnzVuC2


50 posted on 07/31/2011 10:53:44 AM PDT by silentknight
[ Post Reply | Private Reply | To 48 | View Replies]


Navigation: use the links below to view more comments.
first 1-5051-83 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson