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Debt limit request delayed
Politico44/whiteboard ^ | 12/30/11 | Jennifer Epstein

Posted on 12/30/2011 11:42:54 AM PST by ColdOne

HONOLULU -- President Obama will hold off on asking Congress to raise the debt limit on Friday as the Treasury Department had originally intended, White House principal deputy press secretary Josh Earnest said.

Listening to requests from House Speaker John Boehner (R-Ohio) and Senate Majority Leader Harry Reid (D-Nev.) to have more time so that both houses can vote on a measure of disapproval. As part of the $1.2 trillion deal reached in August, both houses voted on a similar incremental increase in September. It passed in the House but fell in the Senate, and would need a two-thirds majority to override a presidential veto.

The debt is expected to reach within $100 billion of the limit later Friday.

Statement from Earnest after the jump.

Earnest's statement:

"The Budget Control Act provides that the president may submit a written certification to Congress when the debt subject to the limit is within $100 billion dollars of the debt limit. Under the statute the president may submit this certification at any point after the debt comes within $100 billion of the limit. As indicated on Tuesday, the Treasury Department expects that the debt will be within $100 billion of the limit by the close of business today and therefore we had anticipated submitting a certification to Congress later today pursuant to the Budget Control Act.

However, we have been asked by the bicameral leadership of Congress to delay certification in order to give both houses time to consider when votes may occur

(Excerpt) Read more at ...

TOPICS: Politics/Elections
KEYWORDS: bankrupt; broke; budget; debt; debtlimit; limit; obamanomics; spending

1 posted on 12/30/2011 11:42:57 AM PST by ColdOne
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To: ColdOne

waiting to see how much his latest vacation costs so he can wrap it into the new debt limit total.

2 posted on 12/30/2011 11:47:08 AM PST by WOBBLY BOB (Congress: Looting the future to bribe the present.)
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I don’t see what difference it makes. They will argue and bicker about it until the day the crisis comes and the government might shut down then the Republicans will cave in, Boehner might shed a few tears for Drama’s sake, and give it to him.

Where is the friggin Budget?

No Budget no mo’ money.

3 posted on 12/30/2011 12:03:23 PM PST by Venturer
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To: Venturer
true. how can we have a "Budget Control Act" when we don't have a budget?
4 posted on 12/30/2011 12:04:35 PM PST by WOBBLY BOB (Congress: Looting the future to bribe the present.)
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To: ColdOne
The delay is only so Congress doesn't have to come back from their own vacations early to start the 15 day consideration period. They can say no. Obama can simply veto their denial. The only path left to stop the increase is a veto override in both House and Senate. While technically possible, it is improbable with Reid and the Democrats in control of the Senate. "Boner" was a fool for ever allowing the legislation that set up this condition to get a vote on the House floor.
5 posted on 12/30/2011 12:22:26 PM PST by Myrddin
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To: Myrddin

Do you think this has anything to do with an Obama polling failure in his recent “signing statement” trial balloon?

Keyword: signingstatement; signingstatements

6 posted on 12/30/2011 12:55:51 PM PST by thouworm (.)
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To: Venturer

“Where is the friggin Budget?”

The House should refuse to act on anything until the Senate passes a budget. Call Reid’s bluff.

7 posted on 12/30/2011 1:37:51 PM PST by Starboard
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To: Starboard

That’s a great idea. You have to wonder why Boehner never thought of it-—uhhh wait, maybe you don’t—I doubt he can think that far ahead./

8 posted on 12/30/2011 2:01:53 PM PST by Venturer
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