Boehner Tweaks Debt Bill to Include Balanced Budget Amendment Provision

ABC News' John R. Parkinson (@JRPabcDC) reports:
After House Republicans failed to line up a majority to pass the Boehner debt plan Thursday night, the GOP leadership decided today to once again tweak the bill, and once again Republicans have recaptured confidence that they will pass a bill to raise the debt ceiling and send it to the Senate.
After struggling to find the votes Thursday evening, House Republicans huddled privately behind closed doors early this morning to find a path forward.
House Speaker John Boehner of Ohio urged his colleagues to pass the measure and put the onus to get a deal done back on the Democratic Senate, according to a senior GOP leadership aide.
“If we pass this today, we will have sent not one, but two bills to the Senate that would end this crisis,” Boehner reportedly told the conference. “All that will stand between the American people and a resolution to this crisis will be the Senate, which has passed nothing.”
Sources inside the room say that Boehner again pleaded for party unity and said the House would vote today on a debt ceiling bill, one way or another.
"I am a happy warrior," Boehner told his colleagues, despite an apparent rebellion in his conference. "I love all of you."
While the Republicans were strategizing, President Obama went to the airwaves and called on the GOP to stop wasting time and compromise with Democrats, saying the stalled GOP House bill “has no chance of becoming law.”
“The House of Representatives is still trying to pass a bill that a majority of Republicans and Democrats in the Senate have already said they won't vote for,” Obama said. “It's a plan that would force us to relive this crisis in just a few short months, holding our economy captive to Washington politics once again. In other words, it does not solve the problem, and it has no chance of becoming law.”
As the GOP meeting began to wrap and lawmakers began to trickle out, Rep. Mo Brooks of Alabama was asked about the president’s comments. Brooks, a Tea Party-supported freshman, dismissed the president’s comments and broke the news that the leadership had tweaked the bill to include a Balanced Budget Amendment element, likely boosting the Whip count over the top.
Boehner’s plan, also known as the Budget Control Act of 2011, was revised only to ensure that a balanced budget amendment is passed by both Houses of Congress before the second tranche of debt limit increase authority is granted to the president.
All the numbers confirmed by the non-partisan Congressional Budget Office stand. The measure would find $917 billion in savings over 10 years, while the debt limit will be increased by $900 billion. The second stage of the plan would still create a select joint committee on deficit reduction before the debt limit is increased again.
As Boehner left the meeting, he announced "we have a deal" and noted that he was smiling. The speaker is expected to be on the House floor this afternoon to discuss the changes to the bill prior to a vote.
As members began streaming out of the conference meeting, many announced that the revision to the bill is enough to win their support. Brooks predicted that the change would bring at least 10 new supporters on board with the Boehner plan.
Rep. Jeff Landry, R-La., was previously a ‘no’ and announced he was a solid ‘yea.’
“Votes on the debt ceiling should be a thing of the past. This mess is not about the debt ceiling; it’s about Washington’s addiction to spending,” Landry said in a statement shortly after the meeting. “My fellow freshmen and I are committed to finding a long-term solution to our nation’s debt. A Balanced Budget Amendment will prevent an immediate downgrade of our credit rating and ensure that we’re not right back at this point next year.”
That sentiment was echoed by other rank and file Republicans who have decided to drop their opposition to the plan now that there is a mechanism for long-term reform in the legislation.
“I’ve said for months that this debt-limit debate is an opportunity to do something big to address our long-term debt. I was undecided on the original version of this bill, because I hoped something better would come along. Today, something better emerged,” Rep. Tom Rooney, R-Fla., said in a statement. “Attaching a balanced budget amendment sends a message to the American people that we’re listening to them, and we’re serious about tackling Washington’s debt problem. A balanced budget amendment is the type of meaningful reform we need to prevent another debt-ceiling crisis like we face today.”
Rep. Randy Hultgren, a Tea Party freshman from Illinois, said that the breakdown last night “was an indication of how we have been able to change the atmosphere in Washington.”
“Our leaders weren't trying to buy votes with pork projects and earmarks, and instead focused on making their case on the merits of the bill itself,” Hultgren, R-Ill., wrote in a statement. “I will vote for the revised version of the Budget Control Act and I admit that it is not perfect; however, the unwillingness of some members in this chamber, and of Sen. Reid and his Democrat colleagues, to support more sweeping fiscal reform leaves me no choice.”
After meeting with his caucus today for nearly two hours, Senate Majority Leader, Harry Reid, D-Nev., declared, “the only compromise that there is, is mine”
A vote on the revised plan is expected this evening or tonight although sources say the timing is unclear.
ABC News’ Jonathan Karl contributed to this report.
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Reid: “Any bill coming from the House will die in the Senate.”
Obama: “I will VETO any bill coming from the House.”
I ask you, now WHO is holding America hostage in the debt crisis?
Barack Obama & his sidekick, Harry Reid!
2012 = NOBAMA!
Posted by: David From Texas | July 29, 2011, 2:36 pm 2:36 pm
Why are the Democrats and Obama so against a Balanced Budget? Why hasn’t Obama put forth a plan in writing? Why does Obama try his best to scare Americans?
Answer: Democrats have NO clue what they are doing to America!
DISGRACEFUL!
2012 = NOBAMA!
Posted by: David From Texas | July 29, 2011, 2:42 pm 2:42 pm
John Boehner has accomplished nothing in a whole week of political grand standing. Any bill that ties the debt ceiling to an amendment of the Constitution is bad legislation. I’m so glad the Democrats have control over the Senate to stop such a hastily prepared law from reaching the President. The Republicans need to listen to John McCain – this is crazy talk!
and to DAVE FROM TEXAS – No matter what rhetoric you spew, the Republicans caused this crisis, that’s why they HAVE to be the ones who fix it, or it will be a somber 2012 election year for them…
Posted by: Eric | July 29, 2011, 2:49 pm 2:49 pm
“I ask you, now WHO is holding America hostage in the debt crisis?
Barack Obama & his sidekick, Harry Reid!”
Wait, now because it’s on Obama you’re all of a sudden calling for new leadership? They’re ALL at fault here! Out with them ALL next election!!
Posted by: moderate_guy | July 29, 2011, 2:50 pm 2:50 pm
John Boehner is under the delusion that the House of Representative runs the United States of America. It simply isn’t so! We have a Senate and President that gets to weigh in on this Legislation. And I assure you, this is bad legislation. The Tea Party is going down for this that is certain, and I hope they take a few Republicans with them…
Posted by: Eric | July 29, 2011, 2:56 pm 2:56 pm
This bill is a prime example of the problem Congress is now facing. Republicans are only compromising with themselves. This bill is the exact same as Cut Cap and Balance they passed a week ago. It went nowhere. Every time Boehner tries to pull his party toward a workable solution they make him look like a fool. So he crawls back to their side of the fence. He has no power over them. We are screwed. If they get their way we get another depression. If they don’t get their way, we have another depression.
Posted by: Common Sense | July 29, 2011, 2:58 pm 2:58 pm
COMMON SENSE | JUL 29, 2011 2:58:48 PM….Cut, Cap, and Blance went nowhere because Harry Reid would not allow the bill to be discussed and debated. How long will we have to wait for a WRITTEN plan that can be scored by the CBO? I hope we don’t have to wait as long as we still are for a budget from the president (over 800 days and counting).
Posted by: deanbob | July 29, 2011, 3:03 pm 3:03 pm
That is how long will we wait for a scorable bill from Obama/Reid?
Posted by: deanbob | July 29, 2011, 3:04 pm 3:04 pm
Why hasn’t the Democrats presented a budget in over two years. Obama submitted a budget that was voted down 97-0. He did not even get one member of the Democrats to vote for it. While I think BOTH parties and Obama are responsible for this mess, I DO see the GOP trying to present bills while the Democrats sit back and do nothing. Clash for Clunkers, ObamaCare, and Obama Stimilus were ALL epic failures and have thrown this country into bankruptcy. This is awful and America will not be better until voters kick Obama out of office.
Posted by: Jean | July 29, 2011, 3:05 pm 3:05 pm
deanbob | Jul 29, 2011 3:03:38 PM …. I think it’s crap but Harry Reids bill HAS been scored by the CBO…
Posted by: Common Sense | July 29, 2011, 3:06 pm 3:06 pm
GALLUP TODAY: OBAMA’S APPROVAL RATING DROPS TO 40%, THE LOWEST EVER. HIS DISAPPROVAL IS UP TO 50%!
America is speaking loudly…2012 = NOBAMA!
Posted by: David From Texas | July 29, 2011, 3:07 pm 3:07 pm
From Sen. Obama’s Floor Speech, March 20, 2006:
The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that “the buck stops here.” Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.
Posted by: David From Texas | July 29, 2011, 3:09 pm 3:09 pm
Just to make sure the Democrats in this forum got a chance to read:
From Sen. Obama’s Floor Speech, March 20, 2006:
The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that “the buck stops here.” Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.
Posted by: David From Texas | July 29, 2011, 3:10 pm 3:10 pm
“Hey, Obama, what goes around, comes around!”
From Sen. Obama’s Floor Speech, March 20, 2006:
The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that “the buck stops here.” Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.
2012 = NOBAMA!
Posted by: David From Texas | July 29, 2011, 3:12 pm 3:12 pm
“The second stage of the plan would still create a select joint committee on deficit reduction before the debt limit is increased again”. Absolute crap. Obama has already done that and NO ONE has listened to what the group has recommended! What a massive waste of time in Washington writing bills that have no ability or interest in being enforced.
Posted by: RalphF | July 29, 2011, 3:19 pm 3:19 pm
Where is the budget Reid? Where is the leadership Obama? The silence is defening.
Posted by: huh? | July 29, 2011, 3:19 pm 3:19 pm
COMMON SENSE | JUL 29, 2011 3:06:38 PM…You are correct. I stand corrected.
Posted by: deanbob | July 29, 2011, 3:20 pm 3:20 pm
@Eric (2:49)- Republicans are not solely responsible for this crisis. The debt has been added onto by presidents that were Republican and Democrat. The debt ceiling has been raising by Democratic-controlled Congresses and Repulican-controlled Congresses. You cannot lay blame on one party over the other. It’s the fault of the entire nation. We are the ones who voted these spenders into office. They are the ones who have spent pork money on useless programs. We are ALL to blame. Now, Obama must understand this and take responsiblity. He is president and needs to grow up and be a good leader, instead of inciting hatred over one party over the other. Every president in the history of this nation, with the exception to Washington, has taken on the problems of his predecessor. Obama needs to understand this and move on…and LEAD, not make dumb whiny speeches that would only divide this country even more than it already is. “Not a president of Blue States, not a president of Red States but of the United States” my arse…he has done nothing in the past 2.5 years but try to divide this country into red and blue states!
Posted by: Ann | July 29, 2011, 3:34 pm 3:34 pm
Eric: get a grip! What did the Republicans have to do with obama’s porkulus? Cash for Klunkers, Government moters? Blame yes, poor fiscal responsibility by all parties. The Republicans caused it? You have had to much of the Obama kool aid!
Posted by: huh? | July 29, 2011, 3:36 pm 3:36 pm
Eric: get a grip! What did the Republicans have to do with obama’s porkulus? Cash for Klunkers, Government moters? Blame yes, poor fiscal responsibility by all parties. The Republicans caused it? You have had to much of the Obama kool aid!
Posted by: huh? | Jul 29, 2011 3:36:30 PM
Even when spelled out to Democrats, they STILL live in denial.
Posted by: David From Texas | July 29, 2011, 3:38 pm 3:38 pm
DavidfromTexas: NO, the American People WANT a Compromise. Smart Americans already KNOW that Congress is NOT the only chamber …. and it was designed like that for all you Constitution loving people to Follow.
A divided government leads to what the founding fathers knew what was right…COMPROMISE.
Posted by: raven | July 29, 2011, 3:39 pm 3:39 pm
OBAMA’S APPROVAL RATING FALLS 3 PTS. IN ONE DAY ACCORDING TO GALLUP: APPROVAL 40% DISAPPROVAL 50%.
Obama’s approval rating is below that of former President Bill Clinton’s lowest approval rating during the government shutdowns of 1995.
Posted by: David From Texas | July 29, 2011, 3:45 pm 3:45 pm
Simple! Simple! Simple!…….14th AmendmentSection 4. The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned. But neither the United States nor any State shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void.
Section 5. The Congress shall have power to enforce, by appropriate legislation, the provisions of this article……………ALLOW CONGRESS TO DEFAULT ON THE DEBT…..as they fail to enforce, by appropriate legislation….THEY WILL BE IN COMTEMPT OF THE CONSTITUTION BECAUSE THEY DID NOT AUTHORIZE PAYMENT OF THE COUNTRIES DEBT. THEN ON AUGUST 3, AT 12 A.M………REQUEST THE SURPREME COURT TO APPOINT THE EXECUTIVE BRANCH THE EXECUTOR OF THE ACCOUNT BECAUSE IN THE 14TH AMENDMENT CLEARLY STATES …….The validity of the public debt of the United States, authorized by law shall not be questioned. ……OBAMA IN 2012 AND 2016…2020…2024
Posted by: BALANCED BUDGET | July 29, 2011, 3:47 pm 3:47 pm
After a President has been in office for 1 year it is customary for the
last President to send a note of congratulations to the new one.
So when the note came from Bush to Obama, the President was somewhat
troubled because it was written in code and all it said was:
370H-SSV-0773H
This troubled him as he had always heard from his peers how former
president Bush was perceived to have been scholarly challenged.
So he took the note to his wife. She was unable to decipher it.
They called in the VP, and he was unable to decode the message. They
called in the chief of staff and the head of Secret Service detail and
they were unable to determine the meaning of the note.
Next he called in the head of the Senate and Speaker of the House.
They both were mystified by the meaning of the coded message.
Now there was complete panic in the Oval Office.
They called all of their contacts in the media and sent copies of the
note to all of them, and not one was able to come up with an answer.
A special emergency meeting was called by the staff.
All branches of the military, counter intelligence, CIA, FBI were called
in, and the best minds were unable crack the code.
After a sleepless night, a now humbled President Obama picked up the
phone and called the former president, and asked him the meaning of the
note.
George Bush chuckled and replied: ‘Bud, you’re holding it upside down!’
Posted by: billy bob | July 29, 2011, 3:48 pm 3:48 pm
Obama said in March 206 that “increasing the debt limit shows a lack of American leadership and it will hurt future generations of Americans”. So was Obama wrong in 2006 or in 2011? Obama is a complete hypocrite and a fraud.
Posted by: Peter King | July 29, 2011, 3:51 pm 3:51 pm
PLEASE let Obama invoke the 14th Amendment so the IMPEACHMENT proceedings can begin! PLEASE!!!!!
2012 = NOBAMA!
Posted by: David From Texas | July 29, 2011, 3:55 pm 3:55 pm
Boehner Only talking with the Republicans? This is NOT what Leaders do…but there’s no shame or any interest in Governing. He ought to KNOW better. Whether the TEALICANS wanted him working with the Democrats or the President or NOT….He Should know, after 20 years in government, HOW our democracy works. Their ONLY agenda is to F…the American people in their quest to win an election that they WON’T. This is Extreme and I hope this is showing ALL Americans why this country hasn’t moved forward for 3 years now. This conversation or wrangling Should Not have been a “prerequiste” for raising the debt ceiling that has been done 50+ years. Where are your Morals and sense of country…we have “little 401′s” left after this country was Ruined by them for 8 years. We have lost value in our homes and we are unemployed or underemployed. The American people are Hanging on a Thread and the minorities that’s making up this angry “fringe” group Should NOT be Controlling the Majority, that has More to LOSE.
Posted by: raven | July 29, 2011, 3:56 pm 3:56 pm
I don’t know what these mostly the same republicans are saying today, but I believe those ones from 2000 to 2006 who were telling us with Cheney,that “Reagan has proven that deficits don’t matter!” and put in all of our two huge tax cuts for the rich, two huge wars with a life time of consequences, a prescription drug program that cost more than Obama’s health care, except that it is not paid for–all on America’s credit card and destroyed our economy and gave us the great recession! I thank them. Now I don’t know why all of a sudden deficits are bad? Did they get a new religion?
Posted by: zazu | July 29, 2011, 3:58 pm 3:58 pm
3 Branches of Government …NOT ONE!
Posted by: raven | July 29, 2011, 3:58 pm 3:58 pm
I am all for constraining government to a balanced budget. And the Constitution is a contract between the People, states and federal government to restrict what the federal government may do. However…
I see two problems with an amendment. First of all, and this is critical, who is abiding by the Constitution now? If the government would abide by their oath of office to uphold the Constitution we would not have this problem to begin with. We are in this mess because all three branches and the federal bureaucracy have ignored the Constitution.
Secondly, I can easily see the government using the amendment solely as justification to keep increasing taxes, not to enforce spending cuts. I also can see the rationalization that debt increase also would balance the budget.
We do not want either outcome I see as likely. What we need is to enforce the supreme law of the land which is the Constitution.
Posted by: Sven Peterson | July 29, 2011, 4:02 pm 4:02 pm
I am all for constraining government to a balanced budget. And the Constitution is a contract between the People, states and federal government to restrict what the federal government may do. However…
I see two problems with an amendment. First of all, and this is critical, who is abiding by the Constitution now? If the government would abide by their oath of office to uphold the Constitution we would not have this problem to begin with. We are in this mess because all three branches and the federal bureaucracy have ignored the Constitution.
Secondly, I can easily see the government using the amendment solely as justification to keep increasing taxes, not to enforce spending cuts. I also can see the rationalization that debt increase also would balance the budget.
We do not want either outcome I see as likely. What we need is to enforce the supreme law of the land which is the Constitution.
Posted by: Sven Peterson | July 29, 2011, 4:02 pm 4:02 pm
Sure, the Democrats are playing politics just as much as anybody, and they aren’t helping nearly as much as they could, but you gotta admit that they’ve ALREADY COMPROMISED to try to appease the republicans while the republicans have refused to budge from their “no revenue increase” stance. As “Common Sense” said, they’ve only compromised with themselves. Let’s hope that the more reasonable republican delegates aren’t listening to Boehner and will vote for Reid’s bill or otherwise work with the democrats to come up with a better compromise.
Oh, and if you want a man who epitomizes the root of our political polarization crisis today, it’s that jerk DAVID FROM TEXAS.
Posted by: NewtFromPA | July 29, 2011, 4:10 pm 4:10 pm
From start of war in Afghanistan, then Iraq, mountains of US cash was stolen from US citizens to rebuild the infrastructure of these nations. This money was not included in the budget at that time, it was invisible money. Much of that money went around in circles and ended up in private corporations. Now that invisible debt is suddenly visible, and we have to pay interest on it. Who is responsible?
Posted by: Jim | July 29, 2011, 4:15 pm 4:15 pm
“We the People, in order to form a more PERFECT Union,” will kick Obama out of the White House in 2012!
2012 = NOBAMA!
Posted by: David From Texas | July 29, 2011, 4:18 pm 4:18 pm
So, his plan is to default in order to save us? Huh? Brilliant!
Posted by: Greg | July 29, 2011, 4:21 pm 4:21 pm
Apparently Mr. Boehner doesn’t know that voters today are much more sophisticated. . Stop toying with the America public and seek a bipartisan compromise. It only takes 218 votes to win a simple majority. There are 193 democrats and 242 republicans. You don’t need the entire Republican Party to back a deal. He would rather see America fall than work with this President.
Posted by: RealTalk | July 29, 2011, 4:21 pm 4:21 pm
Barack Obama’s approval rating plummeted to 40% today, a 3pt loss in ONE day. Obamas 40% approval rating is lower than Bill Clintons was during the 1995 debt crisis. Obama’s disapproval rating rose to 50% today. Gallup.com
It’s clear that America does NOT approve of the way Obama has been handling the debt crisis.
2012 = NOBAMA!
Posted by: David From Texas | July 29, 2011, 4:21 pm 4:21 pm
@Jim(4:15)-Who is responsible? The president who went to war to defend the country and the Congress which authorized those wars. But our debt existed before these wars and was added onto by the current administration…Heard of that unathorized war in Libya and stimulus money and Healtcare? So, yeah…all of Congress and all previous presidents are to blame. But blaming doesn’t solve the problem. The president needs to lead. He is not doing that…he’s busy trying to blame others and causing Americans to divide and lay blame on either Democrats or Republicans. The time for blame is over. It’s time to take responsibility. We need a leader, not a whiner.
Posted by: Ann | July 29, 2011, 4:28 pm 4:28 pm
Here are the facts! In 1996, Clintons first budget was 1.6 trillion. His last in 2001 was 1.9 trillion. An increase of .3 trillion. In 2002 Bush’s first budget was 2.0 trillion. Bush’s last budget was 3.1 trillion in 2009. That was an increase of 1.1 trillion; doubled from 1996! Obama’s first budget was 3.6 trillion in 2010. 2011′s was 3.8, and the proposed in 3.7. Do the math! This is historical FACT!
Posted by: Greg | July 29, 2011, 4:30 pm 4:30 pm
The time for blame is over. It’s time to take responsibility. We need a leader, not a whiner.
Posted by: Ann | Jul 29, 2011 4:28:03 PM
Well put.
Posted by: billy bob | July 29, 2011, 4:44 pm 4:44 pm
It’s insanity. Why isn’t Boehner negotiating with the house democrats (who represent many more voters than the tea party). If he can strike a deal with them he’d have plenty of votes to pass his bill plus it would get some support in the Senate.
Why is he catering to a few tea party idiots
Posted by: tferretti | July 29, 2011, 4:47 pm 4:47 pm
President Obama is NOT against a balanced budget. He and the Democrats are against balancing the budget off of the working poor, middle class and retired seniors living off of Social Security. I applaud the Democrats for not bowing to pressure and giving away the farm for the working class of this country. I think the Republicans are right, we do need to stop frivolous government spending. However, that could be accomplished with aplomb by getting out of the Middle East ASAP. This would save trillions of dollars. Raising taxes on the wealthy is a must. The tax rates on this country’s wealthy are the lowest in history! Who is paying the most taxes? The average citizen, if they even have a job!
Posted by: RohnertPark1 | July 29, 2011, 4:48 pm 4:48 pm
THIS ARTICLE: “Boehner’s plan, also known as the Budget Control Act of 2011…”
LMAO!…. Sound familiar folks? Maybe because a couple times before, the Republicans have pushed and passed their bullogni “balanced budget” laws. You remember, right? Like when the 1985 Republican controlled Senate, passed the the “Balanced Budget and Emergency Deficit Control Act of 1985″ which also set deficit limits, well… at least until Ronald Reagan asked for debt limit increases 18 times, so that he could “borrow and spend” to pay for the big government that he never downsized.
You all remember that right?
Posted by: georgie_bushie | July 29, 2011, 4:49 pm 4:49 pm
If this was a good restraint, why didn’t the Republicans amend the constitution when they controlled all the three branches of govt? This would have saved us from the catastrophe they put us in.
Posted by: zazu | July 29, 2011, 4:52 pm 4:52 pm
America is not too big to fail, and the tea part could care less. Politics is the art of the possible, but sinking the ship is a no win for anyone. That no republican seems willing to cross the floor is damning. Their point is made. The GFS will look like a blip if the US goes down!
Posted by: BBG | July 29, 2011, 5:33 pm 5:33 pm
Will the GOP plan cut out the loopholes that allows Goldman-Sachs to pay almost nothing in taxes? Will it close the loopholes for Chinese investments? Is the GOP willing to make this information public before they whip the masses into a frenzy?
Posted by: Art | July 29, 2011, 5:36 pm 5:36 pm
Obama is one man, not the entire government. Congress created this mess when they spent the money. Now that we have to pay the bill, everyone is trying to blame everyone else. Congress needs to get this fixed in the bipartisan fashion that made this country great to begin with.
After all, the last time we had a balanced budget, who was the President??? Oh my gosh, it was a Democrat, but more importantly it was an American who cared about the American people and the American economy. Why can’t congress put us first instead of themselves and their political agendas?
Posted by: PC | July 29, 2011, 5:46 pm 5:46 pm
The CBO have evaluated Dem and GOP proposals and declared them as both short of claimed target, thus requiring revisions. Then when asked about Barack’s proposal, they declared can’t evaluate WORDS, can only evaluate numbers ! That should be eye-opener for those who wants to find who to blame !
Posted by: wyl5326 | July 29, 2011, 5:57 pm 5:57 pm
The problem is everyone is afraid for one party or the other to look good. Well they all look bad at this point. The President is right…Congress needs to find a way to work this out. They spent the money, now they need to pay the bill without ruining the American economy. Wall Street is already reacting and it’s not good for anyone with a 401K, a credit card, or any kind of investment. If the interest rates go through the roof then everyone is going to pay with a tax increase of a different kind. This can all be avoided with reasonable compromise on both sides, but they better get the Tea Party out of the way. Boehner was ready to compromise and he couldn’t get support from his own party, because a minority called the Tea Party is derailing everything. Those rookies need to get out of the way and let this country move forward in a constructive manner. Everyone can win, but they have to stop their political posturing and put the American people FIRST not their respective political parties.
Posted by: PC | July 29, 2011, 6:14 pm 6:14 pm
Now that is what I call compromise! Now lets see who is the party of no!
Posted by: Voice_Reason | July 29, 2011, 6:32 pm 6:32 pm
Can you please show me the democratic congress legislations to handle the debt…? I like to see it. And to your point can the democratic congress compromise too, did not one of them agree with Boehner’s legislation, with so many democratic congressman in office if they would have compromised with Boehner’s bill it wouldn’t have required all of the republicans to back his bill…a little from here and a little from there 200 republicans + 16 democrats =216. That is what you call a real compromise. Why is that republicans are always having to compromise but Democrats don’t? What is with this President seems everything seems to becomes a sense of urgency, I mean did he not know the Debt was this high within is first year office, could he not have done something then? He campaigned on how Bad Bush made the economy; couldn’t he have gotten this debt ceiling raised when his party was in office instead of working on healthcare…? It seems to me this had higher priority than healthcare legislation.
This whole thing is making me sick; I am just tired of it and all of the people on this website that keep playing the blame game are exasperating…Let’s just fix the problem people….You know and I know that you can’t pay your way out of debt….Something has got to give and I am not talking about raising taxes…I live in the ghetto and I know that not one of my fellow ghetto neighbors don’t pay my bills or can give me a job…So that tax crap ain’t going to work, YOU don’t tax people that higher us. Instead you give them an incentive to higher…. They higher we spend money the economy grows then you can tax all of us to keep this thing going round and round..
Posted by: it ain't that hard | July 29, 2011, 6:54 pm 6:54 pm
Obama is a great leader!!!!! I stand by and RESPECT my PRESIDENT!!! He walked into a mess that HE did not create!!!
Rock on Barack Obama-keep doing what your doing!!!!
Posted by: kelly | July 29, 2011, 7:34 pm 7:34 pm
Boehner needs to respect the President –He does run this country although he seems to think he does. If anyone is dividing this country he is–why shouldn’t big business and oil companies not get tax cuts and be increased? We are working class citizens we have to live paycheck to paycheck like every other American.These companies should support this country-We helped them when they were down!!!
Posted by: kelly | July 29, 2011, 7:45 pm 7:45 pm
The wealthiest have been given tax breaks from the Bush administration that were not funded and contributed to this deficit and thus far that has not proven to create jobs. This idea of taxing the wealthy will kill jobs is inaccurate. It hasn’t worked to-date, so it is unfounded. The oil and gas companies had ~30 billion in profits, not revenue, but profits, in the first quarter of this year. Should these guys really be getting tax breaks? They reap the benefits of the American economy, but don’t want to pay their fair share.
Both parties can share in the blame, but how can anyone say that the Democrats won’t compromise when they took out ALL the tax increases to please the Republicans who were completely unwilling to compromise and agree to a balanced approach. They are just demanding cuts with no tax increases. I think that is unrealistic and completely idealistic. We all need to deal with reality at this point.
We can’t kick the can down the road with a temporary raise in the ceiling or we will find ourselves in this same fix six months from now. I can’t imagine creating this kind of chaos again in six months. There needs to be a responsible approach.
Posted by: PC | July 29, 2011, 10:31 pm 10:31 pm
The second stage of the plan would still create a select joint committee on deficit reduction before the debt limit is increased again”. Absolute crap. Obama has already done that and NO ONE has listened to what the group has recommended! What a massive waste of time in Washington writing bills that have no ability or interest in being enforced.wsoftlips
Posted by: govind | July 30, 2011, 6:17 am 6:17 am
Clinton left Bush with a 3 trillion dollar surplus that he said should be used to reduce the national debt.
Bush decided it was better to lower the tax rates of the wealthy (lowest in the world), which didn’t create a single job, hence the recession we are in today.
The Republican philosopy that giving more money to the corporations and rich people creates jobs is totally insane, it doesn’t happen.
The thing that creates jobs is the good old fashined law of supply and demand. Give the middle class a tax break and they’ll spend it creating demand, some one will want to make money filling that demand, hence jobs.
Posted by: tferretti | July 30, 2011, 2:09 pm 2:09 pm
wyl5326 wrote, “The CBO have evaluated Dem and GOP proposals and declared them as both short of claimed target, thus requiring revisions. Then when asked about Barack’s proposal, they declared can’t evaluate WORDS, can only evaluate numbers !”
Once more, someone on the Right who doesn’t understand the process. The president can only PROPOSE legislation. He can only say what he would LIKE to see. Congress is the body that HAS TO WRITE POLICY! And ANY bill that impacts the federal budget must, BY LAW, originate in the House of Representatives. The House that Boehner and the Republicans have been in charge of since last November…..
Posted by: Searambler | July 30, 2011, 3:08 pm 3:08 pm