White House Threatens to Veto ‘Cut, Cap and Balance’

Obama threatens to veto a bill that raises the debt ceiling but also cuts spending by ony a little over 100 billion next year and puts us on a path of fiscal responsibility. I guess if we don’t raise the debt ceiling then this bill would be worst?
Yet Obama can not name one specific program to cut.

So Obama is going to let the US default? The House has given him a way to avoid this but because it’s not HIS way, he’s going to Veto. Good job there Mr. President. You will then become the first POTUS to have default on our debt.

Facing Economic Armageddon?
President Obama will -VETO- any short-term debt-ceiling increase. Now, he will -VETO- house legislation that raises the debt ceiling.
Jake Tapper’s question is answered: “Economic Armageddon” is preferable to President Obama not getting the deal he wants.
Come on, Jake! Go after this empty suit.

What’s sad is much of the cut, cap, and balance idea came from the proposals recommended from Obama’s own debt commission that he formed. This guy is the biggest joke since Jimmy Carter.

How could anyone defend that veto? Oh, right – with lies and fear-mongering. What a lousy President we have. It’s not about what is right for the country, but what is right for the president. He needs to go.

“Would they have blackmailed Bush or Reagan this way?? Of course not! Make no mistake, House Republicans are primarily to blame for this debt ceiling brinkmanship, and voters will remember.”
Not to mention that 97-0 vote in the Senate!

Obama would be wise to veto the balanced budget amendment. The level of cuts that are being proposed are too steep, especially during a recession. (huge spending cuts = more lost jobs = less money for consumers to pump into the economy= decreased demand for goods and services= decreased profit for businesses= more lost jobs)
Have those promoting draconian spending cuts looked at what would have to be cut? The citizens of this great country take for granted many of the things that the government provides (safe food, clean water, national parks, interstate highway system, safe drugs, Medicare, special education funding, pell grants, air traffic controlers, etc) However, they are unwiling to accept the fact that those services do not come free of charge.

President Obama has demonstrated that Constitutional limits are needed no matter which party is in control. A cap and balance should be combined with a Presidential line-item veto as a great compromise!

Posted by: Mindy | Jul 18, 2011 1:32:57 PM
Lucky for us, you guys can’t even drill for oil. Ha!

Oh geezes. 111 billion is NOTHING in comapare to the govenrments spending. The republicans and Obama are both giving us LIP SERVICE. Both parties like to spend, so money can be funneled to their buddies. Both parties should put in prison for their FRAUD and embezzling.

AS HE SHOULD. No leader would ever allow their hands to be so rigidly tied. LOL…This is just another ‘hail Mary attempt’ by the GOP to ‘rile up their dumbed down base’ and make them think the President is being irresponsible. And these are the SAME PEOPLE who have no clue about leadership and the FLEXIBILITY needed to rule a nation of 300 million plus. LOL…These morons still keep referring to their “own checkbooks and personal finances”. Absolutely NO CONCEPT of a nation’s business and REALITY.

At least the republicans are presenting tangible plans instead of talking in vague rhetoric like the president and the dems in congress.

And Au hits a new high. Can’t imagine why…

Posted by: A.Lincoln | Jul 18, 2011 1:55:00 PM
Hysterical comment.

Gas prices on the rise; top $4 in eight states…
Well so much for Obamas oil plan to drive down gas prices as he piddles away the $1.84 a gallon gas he inherited
Leadership you can starve on
—
Keep it that way, please! Another bottle of Xingu in celebration…

Congress needs to call the petulant child’s bluff! He has not listened to Moody’s! He has not listened to the desire of the American people! He has not listened to S & P! He has not even listened to the IMF! Here is a guy who has ZERO experience — other than being a community organizer on the south side of Chicago,
trying to spend this country into oblivion!
He does not know what he is doing! Honestly, think he is purposefully trying to run this country into the ground!
Cannot wait to VOTE AGAINST HIM, regardless of who runs against him in November 2012! At least, we owe our kids and grandkids that vote!!

Forty-five percent of voters said they are leaning towards or would vote for Gov. Rick Perry if the election for President of the United States was being held today and the candidates were Perry, the Republican, and Barack Obama, the Democrat. Forty-two percent said they are leaning towards or would vote for Obama, and 9 percent said they are undecided.
“For the President to be trailing an unannounced candidate in a state he barely won in 2012 has to be concerning for the Obama team,” said Civitas Institute President Francis De Luca. “If Obama is hoping to catch lightning again and win North Carolina, he is going to have to hope for a weaker opponent than Gov. Perry or a big bounce from having the Democratic National Convention here next year.”

In addition to threatening to veto the Cut, Cap and Balance bill (H.R. 2560), the White House is threatening to veto H.R. 2434, the 2012 Financial Services and General Government Appropriations Act. Among other things, the White House is arguing against a proposed $65 million budget cut to the Executive Office.
You ain’t cuttin my office money…..funny stuff

Does this mean Obama won’t pull off his band-aide or eat his peas?

Nutshell – A balanced federal budget = spending cuts = votes. The liberal party will cease to exist under a scenario where the federal gov’t actually has a legal requirement to spend no more than it takes in. Imagine that.

“Raising the debt limit is a failure of leadership.” Barack Obama, March 26, 2005.

Most Americans know it’s going to take both cutting of spending and an increase in tax revenues for the government to even begin to balancing deficits and paying off the massive debt.
Why Republicans can’t figure this out is beyond most logical people. It’s an election tactic.

Most Americans know it’s going to take both cutting of spending and an increase in tax revenues for the government to even begin to balancing deficits and paying off the massive debt.
Why Republicans can’t figure this out is beyond most logical people. It’s an election tactic.
——
I encourage you to send in extra $ as an example. Feel free to use a credit card!

How come every one calls Obama the President????? He is just a temporary employee who can not make the grade and will be out in the street soon.

Most Americans know it’s going to take both cutting of spending and an increase in tax revenues for the government to even begin to balancing deficits and paying off the massive debt.
Why Republicans can’t figure this out is beyond most logical people. It’s an election tactic.
——
I encourage you to send in extra $ as an example. Feel free to use a credit card!
Posted by: IRS | Jul 18, 2011 2:50:38 PM
You too sparky.

How come every one calls Obama the President?????
Posted by: Don | Jul 18, 2011 2:53:42 PM
Read up on the American Constitution and democracy. You have a long way to go, but even the most important journeys begin with a single step.

Most Americans know it’s going to take both cutting of spending and an increase in tax revenues for the government to even begin to balancing deficits and paying off the massive debt.
Why Republicans can’t figure this out is beyond most logical people. It’s an election tactic.
——
That is like telling an alcoholic that if they limit getting drunk to once a week they can continue drinking! While better than getting drunk 7 days a week it does not address the problem.

““If the President were presented this bill for signature, he would veto it,” the office of Management and Budget said in a statement of administration policy.” A typically partisan and arrogant stance. If the bill were presented to him it would have to be passed by his own party in the Senate, which would hardly qualify it as partisan legislation.

“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.” – Senator Barack Obama, March 16, 2006
Yes, indeed we do, Mr. President. Resign and help make that dream a reality. You’re apparently not up to the job.

Mindy, you must know that Congress works by people who want differing things to offer to vote for something in order to get something they feel the country needs? An increase in the debt ceiling means more spending. You are right that previous debt ceiling increases have been almost certain. These were given on the promise of spending cuts LATER which never happened. Spending keeps increasing with no end in sight. What is wrong with some controls, when NO President wants the spending to stop on his watch? At what point will this madness stop?
And increased revenues? Are you aware that businesses pass on taxes as costs to consumers? Won’t higher prices for food and goods hurt the middle class that Obama pretends to care about? Yes, tax the people who are the only source of new jobs.
Mindy, please name the specific spending cuts Obama wants. You said he wants them. Please, list those specifics the next time you comment. We’ll see how much of the debt that will pay off.

“However, they are unwiling to accept the fact that those services do not come free of charge.”
Posted by: Mindy | Jul 18, 2011 1:32:57 PM
No, they definitely don’t come free. Except for the 51% who don’t pay any federal income taxes. They cost trillions more than we can afford, and frankly, I’m tired of being taxed for them while subsidizing Americans who benefit from federal services disproportionately but have no skin in the game.
Cut government and cut it deeply. And it’s time for the freeloaders to start contributing to the coffers.
“Everybody has got to make some sacrifices, everybody’s gotta take a haircut.” – President Barack Obama, April 5, 2011
It’s time to “eat our peas.” – President Barack Obama, July 11, 2011
That means you, Mindy. I grew up poor and I can get by on much less. I’ll cope and so will you.

For those who are unable to understand the nuances of the English language: The bill would be vetoed because it cuts spending, but does not address the matter of increasing revenues by eliminating corporate tax loopholes. According to polls, most Americans agree that both things need to be addressed. So the Boehner/Cantor debacle does need to be vetoed if it makes it through the Senate.

Posted by: Jim | Jul 18, 2011 3:51:39 PM
You might have a little more credibility if you actually understood how businesses operate.
I operate two restaurants. Sure, I can make less profit but my margins are already pretty tight. I’ve economized as much as possible. Less profit directly impacts my ability to hire new employees, reward my existing employees, and reinvest in my businesses.
If my margins get squeezed too much, I’ll lay people off. If I’m unable to sustain a profit over a long period of time because of increased taxes, I’ll just close my restaurants. How does that help the economy and employment in my area?

“Not necessarily. They can take slightly smaller profits as well. Oil companies would be a perfects example of businesses who make enough profit to absorb a bit of the cost of doing business in America.”
Jim, we can always start with GE! I crack myself up…

It pretty much tells who the grown-ups are and exactly who is playing politics as usual. We have to cut the spending and rating agencies stated SPENDING AS A PERCENTAGE OF GDP!, which no matter how much President Obama spins this and LIES ABOUT IT, does not change the facts. All the taxes in the world will not change the spending quotient. It is spending, Stupid, not taxes. I hope that the media will report this as what the rating agencies actually said instead of blindly supporting Obama no matter what he says, right or wrong. In case you missed it: SPENDING AS A PERCENTAGE OF GDP!.

Hmmmmmmm…. LOL! ….. I wonder if we impose a balanced budget if the Republicans will have the “kahunas” to do away with the HUGE defense contracts, eating away at taxpayer dollars. Everyone should do a search of this “largest federal contractors”… LOL!… just the top 10 cost the American taxpayer $68 billion last year.
That’s it Republicans…get rid of those “bottom feeders”… LOL!

WHY ARE DEMOCRATS UPSET ABOUT THE REPUBLICAN PLAN? WHY? WELL, IF YOU RICH FATCATS ONLY HAD 20 BUCKS TO COVER MONTHLY BILLS AND GROCERY PURCHASES…PERHAPS YOU WOULD UNDERSTANDl!!!!! HAVE YOU HAD TO STAY INSIDE A 90 DEGREES TEMPERATURE WITHOUT AIR CONDITIONING? . OF COURSE YOU HAVE NOT!CAN YOU HAVE ANY COMPASSION? MMM? IF YOU WERE A REAL CHRISTIAN YOU WOULD, BUT YOURS IS A FAKE DOGMATIC FAKE!

REPEAL THE FEDERAL RESERVE ACT AND YOU WON’T HAVE THE DEBT AND THE INTENTIONAL SLAVERY. THE FEDERAL RESERVE IS A PRIVATE BANK THE DICTATES FOREIGN AND DOMESTIC POLICY WHICH IS 100 PERCENT ILLEGAL AND UNCONSTITUTIONAL. LEFT OR RIGHT, DEMOCRAT OR REPUBLICAN, IT DOESN’T MATER EVERYONE IS BEING LIED TO ON A GRAND SCALE BECAUSE IF YOU U TUBE “WHY IS THE FED UNCONSTITUTIONAL” YOU’LL KNOW THE FEDERAL INCOME TAX WAS NEVER RATIFIED THEREFORE ITS THE BIGGEST FRAUD PERPETRATED ON THE AMERICAN PEOPLE. WHY PAY A FRAUDULENT TAX; EVERY SUPREME COURT DECISION SINCE HAS HELD THAT THE FEDERAL INCOME TAX IS UNCONSTITUTIONAL THEREFORE A FRAUD!!! U TUBE IT. THE ONLY SOLUTION IS REVOLUTION AND FORGET THE DEBT CEILING, YOUR BEING CONTROLLED BY THE FED WHICH ISN’T EVEN LEGAL, IT’S A PRIVATE BANK; THAT’S FASCISM. PLEASE LOOK AT THE FEDERAL RESERVE ACT OF 1913 AND YOU’LL KNOW THEIR DIRTY LITTLE SECRET; YOUR A SLAVE WHEN YOU THINK YOU’RE FREE, WAKE UP! THE ENEMY IS THE MAIN STEAM MEDIA OR YOUR TV. WHEN A PRIVATE BANK TELLS YOUR GOVERNMENT WHAT TO DO THEN YOUR NOT FREE AT ALL. TELL THE FED TO SHOVE THAT FAKE PHONY ILLEGAL DEBT WHERE THE SUN DOESN’T SHINE. WHY PAY A DEBT CREATED BY FRAUD?

GAS PRICES ON THE RISE? FALSE. PURE REPUBLICAN MISINFORMATION.POSSIBLY MURDOCK’S STAFF PUBLISHED IT.
TODAY I GOT AN EMAIL BY THE CHAIRMAN OF THE MD.GOP.ORG; HIS NAME: ALEX X.MOONEY. HE CLAIMS THAT,THE DEMOCRATS (HE GIVES NO NAMES) ALTHOUGH HE ACCUSSES MARTIN O’MALLEY OF STACKING THE DECK IN MARYLAND FOR THE NEXT DECADE BY FORCING THROUGH A GERRYMANDERED CONGRESSIONAL REDISTRICING NMAP IN A FALL SPECIAL SESSION.
HE ALSO ACCUSSES O MALLY AND LIUTENANT gOVERNOR ANTHONY BROWN OF WANTING TO RAISE THE GAS TAX DURING THE SPECIAL SESSION BY ANOTHER 10 CENTS PER GALLON.
I HAVE A COPY OF THE E MAIL. I USED TO BE REGISTERED AS A REPUBLICAN UNDER WALKER BUSH. THEN MY HUSBAND LOST HIS JOB THREE TIMES, THE COMPANIES HE WORKEWD FOR WENT BANKRUPT. I FELT BUSH HAD LIED. SO I SWITCSHED PARTIES. NOW I SUPPORT PRESIDENT OBAMA :)
UT SEEMS THE REPUBLICANS ARE SPREADING ALL KINDS OF LIES. IN FACT GAS PRICES HAVE DROPPED. OF COURSE THE BIG OIL COMPANIES CAN AFFORD PAYING TEN CENTS MORE.

Balanced budget will not achieve financial stability? Are you kidding me, Mr. President. In my house, balanced budget is the only way to achieve financial stability!

WE as American need to go back and read the causes of why we seperated from England.We don’t have parliament but Congress’s behavior of not listening to the people resembles them. For the people and by the people.

Our government needs to control what they spend. They need to change laws that do away with big money to big companies that have proven that they are not creating jobs. They need to get their own house in order before they help others. They need to get out of the war. They need to change the way they do business. I say the majority of the people which is usually the middle class and poor are sick and tired of footing the bill for the governments mismanagement. The divide between the rich and the poor is getting wider an wider and when that happens there tends to be a revolt eventually. One other thing the government needs to do is take a pay cut. I had to.

You know..I have talked to, oh, at least 200 people over the last year of all ethnic background’s and found that only one person in the group voted for Obummer. Now taking this a a percentage across the nation, how in the hell did he ever got elected president of this great country?. Posted by: williamg | Jul 18, 2011 5:20:25 PM………..you really don’t know do you?

And increased revenues? Are you aware that businesses pass on taxes as costs to consumers?
Posted by: Huladeb | Jul 18, 2011 3:47:35 PM
Not necessarily. They can take slightly smaller profits as well. Oil companies would be a perfects example of businesses who make enough profit to absorb a bit of the cost of doing business in America
_______________________________________
Jim, ummmm, no businesses RAISE prices. They can do all sorts of things, but generally THEY RAISE prices.

Entitlement my ass, I paid cash for my social security insurance!! Just because they borrowe the money doesn’t make my benefits some kind of charity or hand out!!
Congressional benefits ,aka.free healthcare ,outrageous retirement packages,67 paid holidays,three weeks paid vacation, unlimited paid sick days, now that’s welfare, and they have the nerve to call my retirement entitlements !!! scroll down…..
WHAT THE HELL”S WRONG ???
Wake up America !!!
1- California ‘s 20 Billion Dollar Budget Deficit
2 The California Supreme Court ruling that ILLEGALS can attend college and get benefits.
Why don’t they just deport them when they arrive to register ?
3- Last year they ran an article on the yearly costs to California Taxpayers from Illegals using Hospital Emergency Rooms for their general health care-
An just one Hospital the cost to the tax payers totaled over 25 Million a year.
Someone Please tell me what the Hell’s wrong with all the people that run this Country !!!!!!
We’re broke ” & can’t help our own Seniors , Veterans, Orphans, Homeless etc.???????/
In the past months we have provided aid to Haiti, Chile, and Turkey. And now Pakistan… home of bin Laden. Literally, Billions of DOLLARS.
Our retired Seniors living on a fixed income” receive no aid nor do they get any breaks while our Goverment and Reglious Organizations pour Hundreds od Billions of $$$$$ and Tons of Food To Foreign Countries!!
Thay call Social Security and Medicare an entitlement even though most of us have been paying for it all our working lives and now when its time for us to collect, the Goverment is running out of Money. Why did they borrow it in the First Place??
We have hundreds of adopted children who are shoved aside to make room for adoption of foreign orphans.
America : a country where we have homeless without shelter, children going hungry, elderly going without “needed” meds, and mentally ill without treatment- etc-etc.
Yet ………………
They have a ‘BENEFIT” for people of Haiti on 12 TV stations, ships and plANES LINING UP WITH FOOD ,WATER,TENTS, CLOTHES,BEDDING,DOCTORS AND MEDICAL SUPPLIES.
IMAGINE IF THE * Goverment *gave “US” the same support they give to the other Countries.
SAD ISN”T IT?
This is America at it’s sadest hour.
AND we have a Jackass that is brain dead. ” Due to over dose’s of drugs ” UH HUH > It’s party time again 8/3/2011, your ticket price is $38,500 , includes a photo with the King Big Daddy. an coctails, this is being held in ‘ where else Chicago ,

It’s amazing how many people have their CAPS LOCK key stuck in the “I’LL SHOUT SO I LOOK IGNORANT AS SIN” position.
Posting the same thing over and over again doesn’t make people more likely to agree with you, either — at least the people intelligent enough to matter to the economy. Quite the opposite, in fact.
This whole situation is not going to get any better until and unless we do the implausible: stop demanding something for nothing and letting those who benefit from our divisions continue to divide us further. We need an alternative to the Democratic and Republican Wings of the Corporate Party, and we need to start working on it yesterday.
That is, if we want to continue having an economy larger than that of Niue, a middle class that’s proportionately not a rounding error, or more personal liberty than, say, Singapore or China. If we’re content to let the tiny minority who control the largest corporate cartels control what once was the United States of America, then by all means just carry on as now.

Look. Yes they send money to all these other countries as aid when we need that money here at home to help ourselves. Another and possible the biggest problem is that all the government wants to do is help themselves, NOT the people they are in office to represent, they want to cut social security, veterans benefits, and so no ,YET , they give themselves a $3000.00 a month pay raise…… Come on people, HERE’S YOUR SIGN… The government is the problem…..

we need vote against every idiot in office there selling are country out.

They should pass the bill. If the Senate refuses to vote on it, fine. Then the GOP can ask them to produce their own bill – not happening. It will never get the President’s desk to veto as it can’t get thru the Senate. It will just move the talking points.

It is interesting that cutting the deficit and the balance budget is so important to the republicans while they don’t have the power to pass it. For six years they controlled the House, the Senate, and the executive branch. None of these things were passed while they increased the deficit by 80% and never passed a balance budget. Neither party can be trusted because both parties have promised to correct our problems in our past and yet we still have major problems like high cost of medical care, high influx of illegal immigrants, no balanced budgets, constantly increasing deficit, starting unnecessary wars, companies exporting jobs to other countries, etc. etc. Tell both parties how unhappy you are with their performance!

What a colossal waste of time this is! These yahoos know the Senate won’t pass it, and the President won’t sign it, so all they’re doing is making a political statement to appease the TP terrorists.
They have real work to do – and should be spending their time on that. Where are all the jobs they promised last fall?

How about this: we force 2 term limits for congress, The only pay raises they get have to be voted on by the people they serve, NO perks. No hefty retirements for them, & NO special medical benefits after they leave congress. Lets have an executive order to that effect… Also, 1 vacation per year for the President and his family, paid for by him, NOT the taxpayers!!!