White House, Republicans Strike Tenative Deal To Raise Debt Ceiling

ABCNews ^ | July 30, 2011 | Jonathon Karl

[Art in Idaho]

Forgot this little exponential gem:

So, any guesses on where this number will be in 10 years without a Sarah Palin or Phase II? . . Your grandkids and generations unborn are going to Pay and Pay Big. . .

[sickoflibs]

RE :”If this bill is killed, I could care less, the debt ceiling is not raised.”

Really? What if the whole planet blows up on Tuesday? Want to risk that? Maybe this fellow can change your mind, he sounds so reasonable :)

Debt Ceiling Was Raised 18 Times Under President Reagan And 7 Times Under George W Bush (Obama , July 30, 2011 CNBC )

Obama demands a clean debt limit large enough to last till 2013 (with no spending cuts since time is so short) if you listen closely, That was his opening demand before his phony 'negotiations'.

[Clairity]

Thanks for posting the graphics. Republicans should put these in their ads, instead of being so timid.

[DoughtyOne]

One tenet from the article..

The formation of a special Congressional committee to recommend further deficit reduction of up to $1.6 trillion (whatever it takes to add up to the total of the debt ceiling increase).  This deficit reduction could take the form of spending cuts, tax increases or both.

Man oh manochevits!

[BigSkyFreeper]

It's not a win for our side, there's no transparency in the process and there's a whole lot of hysteria about meeting phony deadlines to avoid default.

Raising the debt limit is the coward's way out.

Doing so, it gives an excuse for Obama and the establishment Republicans in power to do two things, raise taxes and spend more.

The stalemate is getting spending under control. Not going in to default or raising the debt limit. Only Obama can take this country in to default and only big government types can see raising the debt limit as a solution to the problem. 

Both sides are working this issue through the prism of re-election.

Neither side want to make the tough decision about targeted and specific spending cuts.

[DoughtyOne]

We’ll be right back here in 24 to 36 months, and our national debt will be $17 trillion plus.

Really nice work. /$

[Lucius Cornelius Sulla]

‘I didn’t realize I was addressing an Establishment groupie.’

If more than 50 years as part of the conservative movement and a lack of tin foil makes me an Establishment groupie I guess that is true. It is also true that the last time an American political party was as conservative as the current GOP Calvin Coolidge was President.

[Art in Idaho]

Thanks for posting the graphics. Republicans should put these in their ads, instead of being so timid.

You're welcome Clairity! I've always been a believer in scientific truthful graphs. . they don't lie, . . "it's the dater stupid" as one prof from Boston said . .

Pass em' on and get em' in the campaign!

[Lucius Cornelius Sulla]

‘If a BBA is part of this deal, it means exactly NOTHING’

Gosh, I never knew that supporting the Balanced Budget Amendment made you a liberal. On the other hand, until you pointed it out, I didn’t know that Justices Thomas, Scalia, Alito and Roberts were also liberals.

[SideoutFred]

Yes, there are some liberals on the court but if you think Scalia, Alito and Roberts are liberals you are nuts. I know for damn sure Ginsberg, Kagan, Sotomayer are and keeping Obama in office means more are going to be nominated.

There is a difference

[furquhart]

Agreed. Given where we began - and who’s in the White House - this is a huge win for Republicans.

No tax increases. A two vote process. Dollar for dollar match of spending cuts for limit increase.

Best that could be done until 2012. I mean - the alternative isn’t this or some magic world where the budget can suddenly be cut 40%. The alternative is financial panic, followed by enough moderates peeling off to pass something better for the Democrats.

[SideoutFred]

We’ll see. I don’t think we could possibly have as bad a candidate as McCain.

Secondly, the press did NOTHING to vet Obama in 2008. We were coming off a disaster with Bush and people pissed about the wars. Obama will own this economy, his golden halo is long gone and euphoria about electing the first African American will be gone. This time around, people that actually voted for him might look for some substance, something many independents and even some Democrats now realize he never had but were caught up in the moment.

He needs a major turnaround to get elected unless we’re stupid enough to put someone like Bachmann or Palin in there, in which case he will coast to victory.

[Lucius Cornelius Sulla]

‘He needs a major turnaround to get elected unless we’re stupid enough to put someone like Bachmann or Palin in there, in which case he will coast to victory.’

I get the feeling that this thread is about to get even more interesting.

[SideoutFred]

Yes, but by extending it now, hopefully in 24 to 36 months we will be back with a GOP in the WH and a GOP Senate and House to make REAL cuts.

If we defaulted, Obambi wins the WH, keeps the Senate and likely wins back the House.

Think about it

[Owen]

Winning the Senate means nothing.

The Dems will have 40+ votes and can stop anything via filibuster.

[NoRedTape]

Where’s FOX News on this? Please decipher........

[Art in Idaho]

Oh, and speaking of debt, deficits, caps, spending and all, what about the fact the biggest government revenue source is people that are employed, i.e., how's that Job thing workin' out for ya' America?

What, private jobs are down? Small business has too many rules and regulations? . . But we did the stimulus!. . and, er, ugh, We have more government jobs, and, and, . .

Quiet you fool. . Free enterprise, free market capitalism is the biggest producer of jobs and government revenue. I wonder if they know American business has Gone Galt? Shhhh, don't tell them. . .

[Mensius]

Dollar for dollar match of spending cuts for limit increase.

If the dollars spent are for 18 months and the dollars saved are over ten years, it's a 15% ratio (interest excluded). Plus it's all based on rate of growth with NO ACTUAL cuts.

Definitely not a win for anyone outside the beltway. Just sayin'

[piytar]

I agree with your analysis. Freepers are so used to being stabbed in the back and screwed over by the fGOP (formerly Grand Old Party) that they are reacting in knee-jerk fashion.

And I can’t blame them...

[Qbert]

“If more than 50 years as part of the conservative movement and a lack of tin foil makes me an Establishment groupie I guess that is true.”

It sounds like you are confusing being a Republican with being a Conservative.

I’ll grant we don’t know all the details yet, but it’s highly unlikely that Conservatives will support this mess.