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Refusing To Compromise Or Agree On ANY Form Of Deal To Increase The Debt Ceiling Limit (A Usually Routine Procedure) Under The Remainder Of Pres. Obama's First Term, Including The One Comprised By "Gang Of Six" Members Is Proof Positive House GOP Leaders On Capitol Hill Especially The Tea Party Clique, Are INTENTIONALLY Trying To Shut Down Our Nation's Federal Government Solely For 2012 Political Gain.
I Repeat!
House GOP Leaders On Capitol Hill, Especially The Tea Party Clique (Led By Michelle Bachmann) Is INTENTIONALLY Trying To Shut Down Our Nation's Federal Government NOT To Reduce The Deficit They Allowed Former Pres. George W. Bush To Run Up With His Tax Cuts For Extremely Wealthy Citizens, 3 Wars, Medicare Advantage For Wealthy Seniors & Awarding His Political Donors With FAT Government Contracts.
No!
Instead House GOP Leaders Are INTENTIONALLY Refusing To Increase In The History Of Our Nation Solely For 2012 Political Gain.
i.e., Get Rid Of Barack Obama; Our Nation's FIRST Black Legally Elected President!
How Can They Sleep At Night?
I Guess People With Cold Hearts Are Nocturnal & In Need Of Very Little Rest.
Cold Hearts?
Now I Understand How House GOP Leaders & Tea Party Members Are Able To So Easily Ignore The Constituents Who Elected Them Into Office.
For Shame!
Can You Say "Obama Is Definitely Guaranteed A 2nd Term & I'm Certain Pelosi WILL Be Re-Hired As House Speaker Too?"
Good-Bye Boehner, Good-Bye Cantor, Good-Bye Bachmann, Good-Bye Tea Party Members.
PEOPLE GET OUT THE VOTE IN 2012!!!
CHOOSE OBAMA & REHIRE PELOSI IN 2012!!
Push for Broad Budget Deal Intensifies Among Leaders
President Obama and Congressional leaders, spurred by a positive response to a new Senate deficit-cutting plan, sought on Wednesday to resurrect a broad budget agreement as House members condemned a fall-back proposal taking shape in the Senate.
Officials in both parties said discussions had accelerated about a compromise tied to a debt limit increase that would cut spending, reshape entitlement programs like Medicare and call for a future tax overhaul — a package that would slice trillions of dollars from projected deficits over the next decade. The talks picked up after a bipartisan group of senators unveiled their deficit plan on Tuesday, with House Republicans signaling that they might now be open to a deal that would raise more money for deficit reduction by closing tax loopholes and eliminating deductions while also reducing tax rates.
Mr. Obama summoned Republican and Democratic leaders to separate White House sessions. And the White House spokesman, Jay Carney, said Mr. Obama would drop his opposition to signing a short-term increase in the federal debt ceiling, but only for an extension of days and only if the two sides were in agreement on the contours of a deal that raised the ceiling through 2012 and made long-term reductions in federal debt. “There is still time to do something significant if all parties are willing to compromise, because the parameters of what that might look like are well known, especially to the participants in the negotiations the president oversaw last week,” Mr. Carney said.
The search for a solution intensified as House Republicans made clear that they were in no mood to accept a proposal being developed by Senator Mitch McConnell of Kentucky, the Republican leader, who has advocated a procedural maneuver to allow a debt increase to clear Congress without Republican votes.
The four top House leaders — Speaker John A. Boehner of Ohio; Representative Eric Cantor of Virginia, the No. 2 House Republican; Representative Nancy Pelosi of California, the Democratic leader; and Representative Steny H. Hoyer of Maryland, the No. 2 Democrat — met privately Wednesday and, according to officials, reviewed problems with the McConnell plan. Putting it in place would require some House Republicans to back the idea, but the concept has met with mounting resistance in the House even as a last-ditch effort.
“If there is a state or condition worse than death, that’s where it would be,” Representative Trey Gowdy, Republican of South Carolina, said about the McConnell proposal. “I can’t think of one, so we will just go with death for now.”
Senate leaders were still planning to go forward with consideration of the McConnell fallback after considering the “cap, cut and balance” plan that cleared the House on Tuesday but has no chance of passing the Senate, where Democratic leaders assailed it on Wednesday.
“The Republican scheme to cap, cut and kill Medicare is dead on arrival in the Senate,” said Senator Charles E. Schumer of New York, the No. 3 Democrat in the Senate. “Their plan, which passed the House last night on a virtual party-line vote, would wreak havoc on our country’s seniors, the middle class, military preparedness and our standing in the world.”
To improve the prospects for the McConnell plan in the Senate, the leadership was drawing up a list of spending cuts that would be attached to it as well as other deficit-cutting proposals to sweeten the pot.
Though negotiations over a more comprehensive deal had faltered, Mr. Obama and Mr. Boehner have continued to talk, including at a private White House meeting Sunday that was also attended by Mr. Cantor. Both Mr. Boehner and Mr. Cantor also said positive things about the deficit plan crafted by the so-called Gang of Six, which includes three Senate Republican and three Senate Democrats.
Lawmakers said that the proposal would not necessarily provide the definitive solution to the debt impasse but that the welcoming response from both parties showed there was a potential consensus over long-term approaches to reducing the debt and the deficit.
If the president is to proceed with a major agreement, one of his chief hurdles could be winning some support from leaders in the Senate, where neither Mr. Reid nor Mr. McConnell has embraced the Gang of Six plan and the two had teamed up to enact Mr. McConnell’s approach.
Despite widespread talk of a breakthrough after the Gang of Six re-emerged on Tuesday, administration officials privately are increasingly fretful that Congress’s schedule leaves no room for error before the government hits its borrowing limit on Aug. 2, when an error — in terms of unsuccessful votes — is a real possibility given House Republicans’ unwillingness to compromise with the White House.
The situation is reviving memories in both parties of two previous times that House Republicans rebelled against their leadership’s compromises, provoking such negative market reactions that the Republicans quickly retreated — in late September 2008, when the House initially rejected President George W. Bush’s proposed bailout of the financial system, and in October 1990, when House Republicans opposed a deficit-reduction compromise that President George Bush had negotiated with Congress’s Democratic leaders.
“This time is unfortunately more consequential,” said a senior administration official.
On Aug. 3, should the government hit its debt ceiling, the expectation is that the bond-rating agency Standard & Poor’s, and perhaps others, would carry out a warning to downgrade the United States credit rating. That likely would raise the Treasury’s borrowing costs on Aug. 4, when it has scheduled an auction to raise money for $90 billion in principal and interest due to creditors. And the higher interest rates for the government would ripple to loans for businesses and consumers.
The outline of legislation that could pass both the Democratic-controlled Senate and the Republican-controlled House is emerging but still highly uncertain, and complicated significantly by the short amount of time left. What is certain, say people in both parties, is that the action will go down to the wire with no guarantee of legislative success.
“The idea of an 11th-hour bill whose passage is not assured make me very nervous, and I don’t think the markets understand how nervous they should be,” said one official involved in the negotiations.
Behind the scenes, representatives of JPMorgan Chase, led by its president and chief executive, Jamie Dimon, have been particularly active in pressing for a resolution. Jay Powell, a former official in the administration of the elder George Bush, was brought into the House Republican caucus by party leaders to brief the rank and file on the ramifications.
Sources: CNN, MSNBC, NY Times, PBS News, Politico, Russia Today, Youtube
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