I know I can’t be the only one who breathes a sigh of relief every time I read something like this. Andrew Stiles, The Corner:
Senate Majority Leader Harry Reid (D., Nev.) has released a statement slamming Republican “intransigence” for “pushing us to the brink of default.” He says he is “deeply disappointed in the status of negotiations with my Republican colleagues” — which began today at the White House and continued in House Speaker John Boehner’s (R., Ohio) office this afternoon — to find a way forward on raising the debt ceiling. Upon leaving the Capitol this evening, Reid allegedly told reporters to “talk to Republicans…We did our best.”
Earlier in the day there appeared to be progress toward a deal. In a conference call with House Republicans, Boehner said he hoped to unveil a final plan by Sunday afternoon before financial markets open in Asia in order to avoid a potential panic. Sources familiar with the call confirm that the speaker discussed a “two-tiered” plan that would raise the debt ceiling and achieve “savings” of between $3 trillion and $4 trillion. The plan would likely involve a short-term debt increase paired with spending cuts that exceed the amount of the increase, and would establish a framework for additional cuts and savings, whether by establishing a special commission (as outline in the McConnell-Reid plan) or issuing guidance to congressional committees to come up a set level of savings by a target date.
[…]
Reid says he won’t support a two-tiered option, which is understandable given that he has 20-plus Senate Democrats facing reelection next year who would presumably wish to avoid multiple votes to raise the debt ceiling, not to mention President Obama’s insistence that any increase get him through the to 2013. But Reid’s statement has Chuck Schumer (D., N.Y.) written all over it. Back in April, Schumer was doing everything he could to force a government shutdown, believing it would play to Democrats’ political advantage. And several GOP sources speculate that he was behind the leaked report of a “grand bargain” between Boehner and the White House, in an effort to scuttle the deal because it included some changes to entitlement programs (thus rending less effective the “Mediscare 2012? campaign Democrats are gearing up for).
If the president’s press conference last night was not evidence enough, it’s becoming more and more clear now that Democrats may be actively be trying to spook financial markets in the hopes that Republicans will bear the brunt of the blame.
Is that so? Well, then I hope Schumer has a tar-proof suit.
Meanwhile, remember that sigh of relief? Perhaps I spoke too soon. Byron York:
House Republicans are finishing work on a new proposal to resolve the standoff over the debt ceiling. The proposal, set to be finished Sunday, will be in two parts. The first will combine a short-term increase in the debt ceiling with spending cuts. The second will lay the groundwork for a longer-term increase in the debt ceiling coupled with far-reaching deficit reduction.
“Senator Reid said on Friday that he is going to wait for us to move,” says a well-informed GOP House aide. “So we’ll move.” Another well-informed aide confirmed the basic outline of what’s happening.
Staff of the House Rules Committee is involved in the work, which is an indication that the process is nearing completion. Before any bill can be considered on the House floor, the Rules Committee must first pass a rule setting out the process for its consideration. Once the proposal is finished, it would likely be posted on the Rules Committee website, probably no later than Monday, so the committee could meet to consider it on Tuesday and it could be on the House floor by Wednesday.
Work on the new proposal was underway before negotiations with the White House blew up on Friday. Sources say the plan was being created last week, even as the House leadership devoted considerable time to passing the “Cut, Cap, and Balance” proposal. Once the Senate Democratic leadership blocked “Cut, Cap, and Balance,” House leaders stepped up work on the new proposal. Right now, the new direction is believed to be the only way forward. “McConnell-Reid is just not a viable option in the House,” the aide says, referring to Senate Minority Leader Mitch McConnell’s complicated proposal to allow the president to increase the debt ceiling.
And from McConnell’s office,
“There is bipartisan agreement on the need to prevent a default, but given the unprecedented size of the debt ceiling increase the President is requesting, this is not an easy process.”
I can live with a short-term increase that cuts spending immediately commensurate to the raise in the debt limit, but only if I knew that the Senate would then keep pressing CCB, tying it to any new legislation, using overwhelming public approval to agitate publicly for a vote, and then hanging any failure on the Senate’s part to pass the legislation around the necks of the vulnerable Democrats who ran on balancing the budget.
In fact, campaigning against them for 2012 would at that point be easy: as their opponent, promise to vote to balance the budget, which your opponent failed to do after promising to s/he would.
If Obama then vetoes the legislation, he’ll have been laid completely bare, and not even the media will be able to protect him at that point.
But I have my suspicions that a number of establishment Republicans would be plenty happy to end this “crisis” without committing to a structural change to the way DC works. And my guess is, we’re going to see the kind of “compromise” I noted the other day, where we’ll be promised future cuts in exchange for a raise in the debt ceiling — and as a sop to the GOP, we’re likely to see a reform to the tax code that increases the tax base, at the expense of certain “loophole closures” that will bring the Leviathan more “revenue.”
If the Democrats refuse such a compromise — and I hope they do, frankly, because it would mark another GOP cave — then my guess is that the President is planning on making the legal argument that he has the power to circumvent Congress and raise the debt ceiling unilaterally. At which point we’ll know for certain that we live in a dictatorship and that we live under a thinly disguised tyranny.
Thing about tyrants, the thing common to them all, is they understand there’s an unwritten Lapua clause waiting to be invoked the moment they aren’t looking.
If the truth doesn’t work, what will?
In other news, Terry Francona just picked up his 1000th win as a manager, and the Red Sox are now three games up on the Yankees in the most competitive division in baseball.
October. See you there.
I find it slightly amusing that the Democrats refuse to consider legislation that cuts spending now, and promises to look at tax revenue increases in the future. That’s because they know those taxes will not be increased, because they set the precedent already by lying about future spending cuts they never planned to make.
One thing I cannot figure out is why the GOP isn’t making the case that the Democrats already have a huge spending increase that started in 2006 and really shot to the moon since 2008, and they still want more. Any argument over more spending needs to involve pointing this out. The Democrats pretend that never happened, and that the current incredibly bloated and unsustainable budget is somehow the new baseline.
If the Republicans had some brains and balls, they might not waste this “crisis.”
sell sell
I’ve seen a few of the Republicans make that case cranky-d, though Ryan is by far the best of them.
I was reading the opposite earlier on zerohedge, which is currently down for a few hours for mainetnance, that Pelosi had spoken of an agreement that would be the opposite of the usual; spending cuts now and “revenue increases” later. I’ll put up the link later as soon as they’re back up.
But I wouldn’t put anything past that hypocrite Schumer. He’s promised to cut spending and balance the budget for nearly his entire career. Yet, he never seems to vote for measures to do so. In fact, just as a reminder for everyone
http://www.conservativecommune.com/2011/07/just-a-reminder-none-of-the-senate-democrats-voted-to-raise-the-debt-ceiling-in-2006/
Every Democrat voted against raising the debt ceiling in 2006. Including Mr. Obama.
I don’t think the GOP is the enemy here this time. It’s the Democrats all the way, in my opinion.
Ryan seems to be the only one bright enough to start most discussions of spending cuts by stipulating that Obama essentially increased the “baseline” by approximately 25% in his first year; he explicitly says that the “stimulus” was added to the budget baseline.
It’s just that when he talks wonkery, a lot of folk’s eyes roll back in their heads and they start to drool; even though it is today’s front-and-center issue!
It’s easier to watch American Idol I guess.
or chop chop
“he explicitly says that the “stimulus” was added to the budget baseline.”
if they can’t visually point this out in less than 30 seconds they really are the stupid party
I sit corrected, sdferr and Bob, but I think it needs to be said often by all of them.
Trainwreck’s a comin’, yup.
HUFFINGTON POST: Boehner Set To Call Obama’s Bluff In Push For Short-Term Debt Ceiling Deal.
Someone ought to write a spoof of, “Train kept a rollin'”, based around that line cranky-d.
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.
Over the past 5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion.That is “trillion” with a “T.” That is money that we have borrowed from the Social Security trust fund, borrowed from China and Japan, borrowed from American taxpayers. And over the next 5 years, between now and 2011, the President’s budget will increase the debt by almost another $3.5 trillion.
Numbers that large are sometimes hard to understand. Some people may wonder why they matter. Here is why: This year, the Federal Government will spend $220 billion on interest. That is more money to pay interest on our national debt than we’ll spend on Medicaid and the State Children’s Health Insurance Program. That is more money to pay interest on our debt this year than we will spend on education, homeland security, transportation, and veterans benefits combined. It is more money in one year than we are likely to spend to rebuild the devastated gulf coast in a way that honors the best of America.
And the cost of our debt is one of the fastest growing expenses in the Federal budget. This rising debt is a hidden domestic enemy, robbing our cities and States of critical investments in infrastructure like bridges, ports, and levees; robbing our families and our children of critical investments in education and health care reform; robbing our seniors of the retirement and health security they have counted on.
Every dollar we pay in interest is a dollar that is not going to investment in America’s priorities.
Senator Barack Obama
Senate Floor Speech on Public Debt
March 16, 2006
I truly believe that no agreement will make ti through the House, Senate and be signed by the President unless the Republicans go for a large tax increase and thus doom themselves and the economy. If they do that they will not be blamed for the economy because their base will revolt if anyone has time for other than keeping a roof over our heads and food on the table.
If they stick to the no taxes and cut spending agenda then every bill will die either in the Senate or by veto until we get a downgrade to AA or even A and then shit will hit the fan too. Nice game of chicken going on and the Dems think they are driving a M1A1 tank when they are in a “Smart Car”.
That ol’ “Good Man” the one we should hope succeeds. Right?
#?*!#?*!#?*!
No comment.
http://www.washingtonpost.com/business/economy/no-hints-of-breakthrough-in-white-house-debt-talks/2011/07/23/gIQAdDxKVI_story.html?wpisrc=al_national
Pass the dang short term extension. Dare Obama, or the Senate Dems, to vote it down. Let it be on them if the date they keep hyperventilating about passes…
From the same WaPo article.
I’ve been in favor of a short-term tactic since a long time ago, so I’m hard pressed to quit it now. Put the screws to him, make him veto a solution covering at least Aug-Sept, if not the longer bigger $500B payout Krauthammer had in mind. Make him explain to the country why his political interests are more important than the nation’s interests in paying its near term bills.
Maybe the White House shuld quit issuing dmands from on high, and instead, produce a plan.
bumblefuck must be panicked and excited at the same time – he fucked America’s credit rating!
I bet he was hoping to save that achievement for his second term though
still, Daddy Soros will be very pleased
I still think they should hold a daily vote on Barcky’s last written budget. And they should pass a temporary bill through the end of the year, with at least 2 or 3 to 1 in actual real cuts. They should do that on Monday, Wednesday, and Friday, and on the other days, pass CC&B. Just keep dumping this in the Senate’s lap.
When all those anonymous peole got arrested, was Barrett Douchenozzle Brown amongst them?
As antsy as the Democrat leadership may be getting, imagine how uptight the 20 some odd Democrat Senators running for reelection next year are starting to feel — like they’re being slow boiled in oil I reckon.
at no point did America’s sad cowardly limp dick president ever say hey guys here’s my plan
here’s what I think is fair
now his hoochie is gonna have to teach all of us how to cook nutritious low-cost meals
in retrospect it was really pig-ignorant for our favorite chinless McConnellwhore to have floated his moronic scheme
and doctor okietard looks as douchey as Meghan’s coward daddy did when he got all flustered and suspended his campaign for to save the world
“I want to reaffirm my statement from last night. I will not support any short-term agreement, and neither will President Obama”
baracky’s “positions” change frequently harry
mr. gi john did save the rino world mr. feet
Sometimes I reread these posts and realize that I should maybe get into better shape, finally get an AR-15 and actually buy some cottage industry level brewing supplies rather than joking about it.
And a German Shepherd. Who I will name something outlandish to fit the times.
Do you already live outside the city, bh? That’s key as well I think.
Like Krogul. Or The Adjudicator.
Yep, outside the city, cranky.
With over 10 square feet already dedicated to agriculture. I probably should have planted a bunch of new hops rhizomes this spring. I’ll probably end up regretting that.
Thank you, dirty socialist Associated Press bitch. Is this sorta kinda like how the failshit federal government tosses consumers aside and grabs taxes for to redistribute to fat-ass illiterate union whores?
Compare and contrast.
Best argument against the existence of God EVAR:
Love it.
8 is a very lucky number in Korea
so is kimchi
and talmud study
Talmud Study in Korea
this is new
oh who cares
sell sell
“oh who cares”
well you could pay the bills and stop the spending
BWAAAHAHAHAHAHA!
Time to call a spade a spade (so to speak) and let the chips fall where they may.
Not that they actually have the balls to do this, but the message later today ought to be that the only plan that does what the President claims he wants done (“avoid default and cut the deficit,” according to Jay Carney) is the CCB plan passed by the House and supported by 2/3 of the American people. Since neither the President nor the Democrat leaders in the Senate have presented a plan of their own, the only conclusion that can be (reluctantly) drawn is that they want the country to default in order to gain a partisan advantage.
Throw it right back at ’em.
That’s a fucking lie and Obama is a fucking liar. Creditors and rating agencies don’t give a shit where our debt limit is, only whether we’re capable of servicing our debt.
See how easy that was?
“Well, then I hope Schumer has a tar-proof suit.”
I suspect he may be getting an earful from his donors – you know, the morons on Wall Street that think they can give him money and get anything other than a slap upside the head.
Oh, #32 made me laugh – thatnks for that. I’d go with “The Adjudicator” m’self.
Also, if this breaks really bad – I’ll try for a battalion command and won’t hurt any civilians who aren’t actively stealing or hurting others.
gi
Obama?
As Conwat Twiity said: “Ain’t she cooool?”
The Republicans should stop using the word “cut” for anything other than an actual dollar decrease in spending. “Spending less more” is confusing but good for highlighting absurdity. A “Washington cut”. A “Democrat cut”, they still spend more, and borrow to pay for it, just not as much more as they really, really wanted to. Challenge it every time, and use it to clarify the bias of the questioner. It’s a linguistic battle the Republicans seem to have accepted defeat on and that’s a huge mistake.
Dick Durbin on CBS Bob Schieffer. The Dems have been crafting this narrative for a long time and they’ve gotten it digested and poll-tested and bite-sized down to the point that even a machine hack like Dick Durbin can deliver the lies smoothly and seamlessly.
Schieffer. Asian markets! Geitner warns! Amok! Amok! You’ve told us to fear-monger over default. But a crack is appearing in the coalition; Schieffer keeps asking why they can’t then accept a short-term deal, to “prevent default” and keep negotiating.
Boehner claimed he had a deal on the $800B with Geither last weekend. So by playing word games now (“the White House”, “The president and the speaker”), Geither appears to disown his own word to Boehner last Sunday. No damn wonder Boehner can’t trust ’em.
Geithner is a tax cheat
And Geithner and Obama are counting on the eyes of the world not to notice the fact that neither of them have done anything to put a detailed specific proposal on the table for the American public to see.
Or not to notice that Obama called for a Commission on Debt and Deficit in the Spring of 2010 and then when that Commission came forward with recommendations in Dec. of 2010, Obama ignored it altogether.
Or not to notice that the Democrat controlled Senate hasn’t written a Budget in over 814 days.
Or not to notice that Obama proposes to increase US debt by another 6T over the next ten years.
Or not to notice that Obama submitted a Budget to Congress last Feb. which was defeated in the Senate controlled by his own party 97-0.
Or not to notice that Obama gave a speech offering no detail, a speech the CBO director said could not be scored for impact.
We could go on, but what’s the point? No-one will notice.
The eyes of the world are on us to see if we’ll cut the percentage of debt to GDP.
The GOP has done that, both in their budget and in the CCB plan. That’s all the media need report. Why they don’t, well, see my posts from yesterday. They are an active enemy. A real fifth column. Simple as that. I don’t think I could make it any more plain — and I believe it’s time to stop whining about it and start aggressively making the case.
Accept their invites and then speak around them. Call them liars who, for whatever reasons that perhaps they’d care to offer, they seem intent on keeping the public ignorant of the facts and propping up those who have done nothing to fix the problem after having spent us to the brink.
Such anti-media attacks, using the mainstream press as the forum and then allowing the clips to go viral on social media, is a sound strategy, if in fact we wish to win this fight.
And we must. But few politicos have the balls.
Liberal friend this morning “This whole thing is George Bush’s fault. He’s the one that got us into this mess”.