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Boehner Preparing To Offer New Debt Deal

From a white knuckled Associated Press:

Boehner preparing to move on debt limit

By ALAN FRAM – Associated Press
July 25, 2011

WASHINGTON (AP) — Bickering in public yet bargaining in private, congressional leaders are struggling for a compromise debt limit deal that avoids a market-rattling default in little over a week while cutting trillions in spending.

If only. By the way, if we actually did cut trillions in spending we wouldn’t need to raise the debt ceiling, would we?

House Speaker John Boehner, R-Ohio, planned to meet with his chamber’s Republicans on Monday to discuss the GOP’s clash with President Barack Obama over extending the government’s borrowing authority, which lapses on Aug. 2 — a week from Tuesday. There were widespread expectations on Capitol Hill that Boehner would unveil debt ceiling legislation by that session, if not earlier.

How many plans do the Republicans have to come up with? They have already presented and passed the so-called ‘Ryan budget’ and ‘Cap, Cut and Balance.’ And they have offered who knows how many other plans.

Meanwhile, Mr. Obama and the Democrats have offered nothing. They have not even come up with a budget for more than 815 days.

After meeting at the White House on Sunday with Obama and House Democratic Leader Nancy Pelosi, D-Calif., Senate Majority Leader Harry Reid said bipartisan talks on a solution had collapsed because Republicans were insisting on only extending the debt limit for a short period.

The Democrats are obsessed with kicking the can down the road past the 2012 elections. They don’t want their unprecedented spending to be a campaign issue. And getting re-elected is all they care about.

The country can go to fiscal hell for all they care, as along as they keep their cushy jobs.

He said he was crafting a $2.7 trillion package of spending cuts that would also push the government’s borrowing authority through next year, a timeline that Obama and top Democrats are demanding.

You can bet Mr. Reid’s plan will never be written down. It will always remain a list of talking points, so that it can be whatever he says it is.

Moreover, Reid’s ‘spending cuts’ are reported to be all from defense spending. His plan assumes we will save $1 trillion dollars by leaving Iraq and Afghanistan in the immediate future.

Reid, D-Nev., called Boehner’s forthcoming proposal "a nonstarter in the Senate and with the president." In a written statement, he said that it "would not provide the certainty the markets are looking for and risks many of the same dire economic consequences that would be triggered by default itself."

How does he know? The details have not even been released. But once again, the Democrats are rejecting a real plan, while coming up with nothing of their own but words.

If the government’s authority to borrow money isn’t renewed by Aug. 2 — its current $14.3 trillion limit has been reached — it won’t have cash to pay all its bills. The administration and many others say that scenario would risk a first-ever federal default, with higher interest rates and other devastating effects cascading through the entire economy

The AP simply refuses to stop lying about this. They could have given Joseph Goebbels propaganda lessons.

Part of us would love to see the negotiations go way past the supposed August 2nd limit, if only to expose the media and the rest of the Democrat Party’s dire predictions for what they are – the most blatant fear mongering lies. Speaking of which:

Speaking to the U.S. Chamber of Commerce in Hong Kong early Monday, Secretary of State Hillary Rodham Clinton tried to reassure financial markets that America’s economy is sound and a deal on the debt limit would be reached. But world markets fell Monday, starting in Asia and spreading to Europe. Futures augured losses on Wall Street

Mrs. Clinton, like Mr. Obama and the rest of his despicable administration, is trying to talk the foreign markets into panicking. To put more pressure on the Republicans. But so far, despite the AP’s lies to the contrary, it isn’t working.

In a conference call with his colleagues on Sunday, Boehner provided no details of what he was considering, other than saying it would embrace the principles of the so-called cut, cap and balance bill. That measure, which the House approved last week and the Democratic-led Senate defeated, would have cut spending deeply and extended the debt limit into 2013 — but only on condition that Congress approve a constitutional amendment requiring a balanced federal budget…

Actually, ‘Cut, Cap And Balance’ was never really voted on in the Senate. It was ‘tabled’ by a party line vote, without any debate or any vote on its merits.

"It’s gonna require some of you to make some sacrifices," Boehner said of his strategy during the 45-minute call, according to excerpts the speaker’s office distributed to Republican offices. "If we stand together as a team, our leverage is maximized, and they have to deal with us. If we’re divided, our leverage gets minimized."

Officials said Boehner’s legislation would likely add about $1 trillion to the debt ceiling, enough to last about six months, accompanied by a slightly greater amount of spending cuts and the prospect of more savings later — in effect a dare to the Senate and Obama to reject it. Those elements were part of a plan that congressional and White House negotiators discussed over the weekend but never completed because of clashes over how the future, deeper spending cuts would take effect…

Note the conspicuous absence of any mention of taxes.

Administration officials took to the airwaves on Sunday to make their case, with White House chief of staff William Daley saying Obama would veto a bill that didn’t extend the borrowing limit into 2013.

"The president believes that we must get this uncertainty in order, to help the American economy and help the American people," Daley said on NBC’s "Meet the Press."

All of a sudden Mr. Obama is concerned about effect of uncertainty on the economy?

This is the same person who fought extending the Bush tax cuts as long as he possibly could. And then said he would get rid of them as soon as he could. Which he is still trying to do now, via the debt ceiling negotiations.

Doesn’t that cause economic uncertainty?

This article was posted by Steve on Monday, July 25th, 2011. Comments are currently closed.

5 Responses to “Boehner Preparing To Offer New Debt Deal”

  1. Reality Bytes says:

    Funny how liberals love delegating NASA to private industry but run in horror of the idea of doing the same to the federal agencies of energy, education, EPA, DEP, HHS, HLS not to mention all the federal land that is – unconstitionally – owned by the US government.

  2. Rusty Shackleford says:

    “(Reid) said he was crafting a $2.7 trillion package of spending cuts that would also push the government’s borrowing authority through next year,…

    Yup, it’s easy when you know how and have years and years of experience on how to fabricate things out of whole cloth like he’s doing. He could write the book on how to lie effectively to get what you want and then stick your finger in the eye of the people who agreed to it. He’s been playing republicans for saps for decades and will continue to do so.

    As a side note, it’s interesting that “talks” with the self-acclaimed “only adult in the room” broke down fairly quickly so that the big guns had to come out in the form of Pe-loser and dingy Harry. Yup, two pieces of excrement who know how to bum-rush people and pickpocket them for cash while pretending to be something they’re not.

    Having only recently become a fan of the Farscape sci-fi series, one character stands out and he reminds me mostly, of Dingy Harry. He’s called Scorpius and is the embodiment of pure evil. http://images.wikia.com/farscape/images/3/35/Scorpius250.jpg Kinda looks like Harry too.

  3. proreason says:

    Great analysis from our esteemed host.

    I suggest an 8pm EST timeslot for him on Fox News. Last I looked, that slot was filled by the “Go Spin Zone”, and the word of the day was bombastic.

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