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Keyword: debtlimit

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  • Huffington Post Forced to Issue Retraction, Apology After Falsely Accusing Andrew Breitbart,,,

    08/03/2011 9:25:03 AM PDT · by tobyhill · 24 replies
    fox news ^ | 8/3/2011 | fox news
    Arianna Huffington’s liberal-leaning Huffington Post was forced to write a retraction Tuesday after alleging that conservative blogger Andrew Breitbart doctored a video clip from a White House press briefing in order to make it look like CBS anchor Norah O’Donnell was unhappy about the recent debt compromise during an exchange with White House press secretary Jay Carney. In the clip, which Breitbart and other conservative media used to describe what they saw as O’Donnell’s liberal bias, the CBS anchor appears to claim about the debt compromise: “You gave them everything they wanted and we got nothing.”
  • Pelosi Predicts: $2.4 Trillion Added to Federal Credit-Card Limit Will Last Only 18 Months

    08/03/2011 7:01:36 AM PDT · by Dubya-M-DeesWent2SyriaStupid! · 59 replies ^ | Tuesday, August 02, 2011 | Terence P. Jeffrey
    ( - House Minority Leader Nancy Pelosi (D.-Calif.) is predicting that the $2.4 trillion that Congress has now added to the limit on the federal credit card--by increasing the legal debt limit--will be exhausted by the Treasury in only 18 months.
  • Democrats Renew Push for Business Tax Increases After Deal

    08/02/2011 9:51:00 AM PDT · by Qbert · 13 replies
    Bloomberg | Aug 1, 2011 | Richard Rubin
    Link only:
  • Senate Debating Debt Deal (Live Video Cspan)

    08/02/2011 9:25:00 AM PDT · by Eyes Unclouded · 36 replies
    CSPAN ^ | 8.2.2011 | CSPAN
    Here is the live proceedings of the debate prior to the final floor vote of the Senate of the 112th Congress of the United States of America.
  • Passing of bipartision 'Budget Control Act' Reminds me of another bill Pelosi passed last Year

    08/02/2011 9:26:57 AM PDT · by sickoflibs · 12 replies
    sickoflibs rant | 8/2/2011 | sickoflibs
    If you look back how Boehner playing this Debt crisis (deal) Budget control Act bill out on the House side it reminds me Pelosi/Obama passing/ramming through Obama-care(without the budget reconciliation) : Steps: 1) Let your House caucus base (liberal/conservative) have their play votes passing their dream plans (Dems: Obama-care Public plan or Repubs: CC+B) in the House even though you will never fight for it. 2) Create the real bill behind closed door negotiations 3) Wait till the Senate passes a modified version of that closed door negotiated bill to the House, whatever they can get through , some watered...
  • Political Theater At The Highest Level (debt limit)

    08/02/2011 6:26:13 AM PDT · by Texas Fossil · 13 replies
    Brussels Journal ^ | 8-2-2011 10:11AM | Johnny Fincioen
    Last Sunday evening the leaders of the Democrats and Republicans in Congress reached an agreement with President Obama to raise the debt ceiling. Almost exactly as I predicted in my previous letter. The deal has two sides. On the one hand: Obama gets permission to make 2,400 billion dollar more debt. This is just enough for him to reach the end of his first term without the need to beg for still more money. During the negotiations it became clear Obama had only one bottom-line: the raise had to be high enough. On the other hand: the Republicans succeeded for...
  • Reuters Analysis: If U.S. debt is downgraded, will anyone care?

    08/02/2011 6:23:06 AM PDT · by Oldeconomybuyer · 20 replies
    Reuters ^ | August 2, 2011 | By Ellen Freilich
    The United States could lose its triple-A credit rating from at least one rating agency this year, raising the question: Who cares? Strange as it may sound, a downgrade could resound in financial markets more with a whimper than a bang. Historical experience suggests a downgrade would produce none of the bond-market angst some fear. Japan lost AAA status more that a decade ago and it has some of the lowest interest rates in the developed world. As it was with Japan, the big issue for markets is the weak U.S. economy, which could slow further due to the spending...
  • Debt ceiling deal won't restart hiring (but we're $3 trillion more in debt)

    08/01/2011 3:13:05 PM PDT · by tobyhill · 9 replies
    cnn ^ | 8/1/2011 | Chris Isidore
    The deal to raise the debt ceiling may remove the risk of a 2008-like meltdown in financial markets that had made employers very nervous in recent months. But even if the debt deal is passed by Congress, labor market experts don't expect it to jumpstart hiring growth. "I would say this will have little effect if any," said Jeff Joerres, Chairman and CEO of staffing firm ManpowerGroup (MAN, Fortune 500). "It's nice to clear one worry off the desk, but there are a lot of other things to worry about. "At the end of the day, demand trumps all, and...
  • Raising the Debt Ceiling (Live link to CSPAN) [Hse Bill Passed]

    08/01/2011 4:15:47 PM PDT · by Eyes Unclouded · 153 replies
    CSPAN ^ | 8.1.2011 | CSPAN Here is the live proceedings and current vote count from the House of Representatives of the 112th Congress of the United States of America.
  • CBO confirms that debt-ceiling plan would cut $2.1 trillion

    08/01/2011 2:55:49 PM PDT · by RC one · 19 replies
    Los Angeles Times ^ | August 1, 2011, 11:25 a.m. | Michael Muskal
    The nonpartisan Congressional Budget Office on Monday confirmed that the debt-ceiling compromise now slowly working its way through a political minefield would cut deficits by at least $2.1 trillion over 10 years. The finding, reported in a letter to Speaker John A. Boehner (R-Ohio) and Senate Majority Leader Harry Reid (D-Nev.), is fresh ammunition for supporters of the plan in the face of conservative opposition that the spending cuts are too small. Liberals are also unhappy, arguing that Democrats are caving in to the GOP by not insisting on raising more revenue by closing tax loopholes on the richest. According...
  • Tea Party Patriots leader warns of primaries against debt-deal supporters

    08/01/2011 2:18:59 PM PDT · by Qbert · 21 replies
    The Hill ^ | 08/01/11 | Cameron Joseph
    Tea Party Patriots co-founder Mark Meckler warned he was "not finding a lot of people who are happy" with the bipartisan debt-ceiling deal, and that the local groups he helps coordinate might go after incumbents who vote for it. "When it comes time to decide whether to primary folks this will be a factor," Meckler told The Hill Monday afternoon. The Tea Party Patriots is an umbrella organization for more than 3,500 local Tea Party groups around the country. While the larger organization does not raise or spend money on campaigns, where it stands is a good indicator of how...
  • Filibuster w/ Lee, West Needs TEA, Rubio Quote, Expose Default Scare Fraud, End Dems Ponzi Economics

    08/01/2011 11:26:48 AM PDT · by Golden Gate · 18 replies
    Monday August 01, 2011 | FR - Golden Gate
    *** Please Read Before Posting *** - Thread Protocol Rules - (Real Simple) This is a prototype idea for a FR Working Group: US Budget FY-2012 / Nat. Debt If the budget is approved before this is posted, it can be an idea for FR working groups on other subjects and issues. To improve our work and activism on FR, there are times when we need to have a specific type of information or instructions in one dedicated long channel or stream. On threads that have less than 30 posts or so, this is less important, as you can...
  • GOP presser LIVE on FOX

    08/01/2011 1:11:13 PM PDT · by Jim Robinson · 182 replies
    FOX News | Aug 1, 2011 | Jim Robinson
    The GOP "leadership" is united in lying to the public while they stab us in the back. I must correct their lies. There is not a nickle in spending cuts in this bill. It's absolutely idiotic to pile on more debt and continue spending when you're already so deeply in debt that you can never get out. No deal would be better than this MARXIST POS!! It's the spending, stupid!! Tea Party Freshmen: HOLD THE LINE!! Rebellion is brewing!! Reinforcements coming in 2012!!
  • Strategic analysis of the Budget Control Act

    08/01/2011 12:33:14 PM PDT · by PhxRising · 6 replies
    Keith Hennessey blog ^ | 8/1/2011 | Keith Hennessey
    The President’s priorities The President knows he will get debt limit increases through early 2013 no matter what House conservatives/Tea Party members do. Those Members can no longer “hold a debt limit increase hostage” before the 2012 election. We could also describe this as eliminating liquidity risk through 2012. Assuming someone doesn’t find a way out of the enforcement mechanisms in the bill (1 in 3 chance), there will be at least $2.1 T in deficit reduction over the next 10 years as a result. While I think that’s a big policy benefit, I’m not sure how important that is...
  • Club for Growth is 'strongly' against deal

    08/01/2011 12:31:57 PM PDT · by Qbert · 7 replies
    The Hill ^ | 08/01/11 | Cameron Joseph
    The fiscally conservative Club for Growth "strongly opposes" the compromise President Obama worked out with Republican and Democratic leaders and will include the vote in its "key vote" Congressional scorecard, the group announced Monday. "The problems with this proposal are many, but fiscal conservatives should have obvious concerns for the lack of guaranteed future spending cuts, no requirement that a balanced budget amendment to the Constitution be sent to the states, a commission that could still recommend job-killing tax increases, and worse of all, two debt limit increases totaling over $2 trillion within only a matter of months," said Club...
  • Understanding the Budget Control Act

    08/01/2011 12:31:43 PM PDT · by PhxRising · 6 replies
    Keith Hennessey blog ^ | 8/1/2011 | Keith Hennessey
    How taxes are treated in the Joint Committee This bill does not raise taxes. The $917 B of spending cuts that immediately take effect are just that, spending cuts. No tax increases there. The Balanced Budget Amendment might or might not have a 2/3 voting requirement to raise taxes. That’s up to the House and Senate to decide when they vote on a BBA. It gets complex when you look at the new Joint Committee. I think it’s easier if I break it into four questions: If the Joint Committee process fails, could the automatic sequester mechanism raise taxes? Is...
  • Quick summary of the Budget Control Act

    08/01/2011 12:28:44 PM PDT · by PhxRising · 8 replies
    Keith Hennessey blog ^ | 8/1/2011 | Keith Hennessey
    I’m going to try to be neutral in this description and put my analysis in a separate post. Debt limit The debt limit will be increased by $2.1 T no matter what Congress does. The debt limit can be increased up to an additional $300 B depending on what Congress does on deficit reduction and a Balanced Budget Amendment (BBA). The debt limit increase will happen in three steps: $400 B immediately, then +$500 B, then the remainder after Congress tries to enact further deficit reduction and pass a BBA. Assuming the economy doesn’t go into the tank, this should...
  • Bachmann: Debt Limit Deal Means ‘We Embrace Being Greece’ (A GiftHorse GoP & O's >2T 'gifts')

    08/01/2011 10:16:14 AM PDT · by NormsRevenge · 24 replies ^ | 8/1/11 | Nicholas Ballasy
    Rep. Michele Bachmann (R-Minn.). who is seeking the Republican presidential nomination, said today on Laura Ingraham's radio show that the debt-limit deal struck by President Barack Obama and congressional leaders is “like saying we embrace being Greece.” Bachmann preferred the bill she co-sponsored with Reps. Steve King (R-Iowa) and Louie Gohmert (R-Texas) that would pay the interest on the debt, cut checks for military personnel and then prioritize federal spending. “My opinion is we’re going to now give the president almost a trillion dollars and then come Christmas time, he’ll get potentially--we’ll find it what the final numbers were--potentially upwards...
  • WHIP COUNT: House leaders in both parties seek votes to pass debt-limit deal (List)

    08/01/2011 9:41:43 AM PDT · by Qbert · 13 replies
    The Hill ^ | 08/01/11 | Hill Staff
    The debt-limit deal announced on Sunday night is expected to attract more than 60 votes in the Senate, but its outlook in the House is much more cloudy.   Speaker John Boehner (R-Ohio) will need Democratic votes to clear the bill through the lower chamber. How many remains unclear.   The following is a rundown of The Hill’s constantly updated whip count. Please send tips and feedback to     LAST UPDATED ON AUG. 1 at 11:56 a.m. RECENT UPDATES -- Earl Blumenauer (D-Ore.), Peter DeFazio (D-Ore.), Michael Grimm (R-N.Y.), Jim Jordan (R-Ohio), Paul Tonko (D-N.Y.), Tim Walz (D-Minn.),...
  • Next Up: Who’s on the Super Committee

    07/31/2011 4:11:39 PM PDT · by jimbo123 · 27 replies
    Wall Street Journal ^ | 7/31/11 | Corey Boles
    A leader of a centrist group of House Democrats on Sunday said most of the group’s members are likely support an emerging deal to raise the country's $14.29 trillion debt ceiling and cut deficits by up to $2.4 trillion over the next decade. First, the debt ceiling deal that’s just been tentatively agreed needs to pass the Senate and the House. Then, Republican and Democratic leaders will have to deal with the politically-charged question of who they appoint to the super committee of lawmakers who will decide what more spending to cut, or revenues to raise, to narrow the budget...