Here is complete video of President Barack Obama’s Press Conference today where he demanded that Congress give him a blank check to keep up runaway deficit spending by increasing the debt-ceiling. He also threatened he was going to use “Executive Powers” to move against the 2nd Amendment rights of Americans. He indicated there are some steps he can take without legislation, and he intends to take those steps where possible. He did not specify what those steps will be.
This sums up where we are in America today. Democratic House Minority Leader Nancy Pelosi is asked if she supports President Obama’s desire to have unlimited and unilateral power to raise the nation’s debt ceiling – without any bother with Congress. Without a moment’s hesitation, Pelosi just says, “Yes.”
That’s pretty much the attitude toward virtually everything Obama wants to do, not only by Pelosi, but by the nation’s media, and by 51% of the American people. Obama is proposing nothing in the way of significant spending cuts to deal with an obvious spending problem.
Speaking of mindless, remember this gem from Pelosi about why we needed to pass ObamaCare?
President Obama has now signed into law the Debt Limit Agreement passed by both the House and Senate, which increases the nation’s Debt Ceiling:
ABC NEWS: Hours before the U.S. faced a first-ever default, President Obama signed into law a compromise deal that averts a crisis by raising the debt limit, but signaled that he will not abandon his stalled efforts to raise taxes on the wealthy.
“It’s an important first step to ensuring that as a nation we live within our means, yet it also allows us to keep making key investments in things like education and research that lead to new jobs and assures that we’re not cutting too abruptly while the economy’s still fragile,” Obama said in a statement from the White House Rose Garden before signing the bill.
Moments before his remarks, senators voted 74 to 26 to pass the Budget Control Act, the last hurdle for the controversial measure that was first approved by the House Monday night, making a $2.4 trillion down-payment on the federal deficit over the next 10 years.
Obama’s signature ends a bruising Washington-made crisis that has gripped the country and lifts what the administration has called a “cloud of uncertainty hanging over the economy.” . . . Read More
The uncertainty that is killing the economy and keeping jobs from being created is having a President who is focused on increasing regulation and taxes on the job creators in this country! That uncertainty is still there – and will be until Barack Obama is out of the White House.
Here is video of the U.S. Senate passing the Debt Limit Agreement by a vote of 74-26. It now goes to President Obama to be signed into law. The deal was approved by the U.S. House yesterday by a 269-161 margin.
The U.S. Senate will take up the Debt Limit Agreement this morning, with a vote on the deal scheduled for 12 Noon ET. The House passed the agreement yesterday by a 269-161 vote:
FOX NEWS: With just hours to go before the midnight deadline, the Senate is expected to vote on a bipartisan deal to raise the debt ceiling Tuesday, following the bill’s passage in the House a day earlier despite grumbling from both liberals and conservatives.
Approval in the Senate, which has scheduled a vote for noon, sends the bill to President Obama, whose signature will prevent the nation from its first-ever government default.
The House passed the deal 269-161 in an 11th-hour vote Monday, which was also notable for marking Rep. Gabrielle Giffords’ return to Capitol Hill. The Arizona representative hadn’t been in the House since January when she was critically injured in a shooting rampage in Tucson. Giffords was met by loud applause on the House floor and voted yes. . . . Read More
Here is video of the U.S. House of Representatives passing the Debt Limit Agreement today by a 269-161 margin. As the final votes were being cast, spontaneous applause began to echo through the House Chamber as members realized Arizona Rep. Gabrielle Giffords had entered to cast her vote. Giffords was casting her first vote on the floor since being shot by an assailant in January. The Debt Limit Agreement now moves to the U.S. Senate for a vote tomorrow, August 2, 2011, at 12 Noon ET.
(MSNBC) WASHINGTON — President Barack Obama announced on Sunday that Democrats and Republicans leaders have reached an agreement to reduce the U.S. deficit and avoid default.
Obama said the agreement will cut about $1 trillion over 10 years.
The bipartisan plan will be presented to Congress on Monday, Senate Majority Leader Harry Reid said.
“Leaders from both parties and in both chambers will present this agreement to our caucuses tomorrow,” Reid said on the Senate floor.
“To pass this settlement, we’ll need the support of Democrats and Republicans in both the House and Senate. There is no way either party, in either chamber, can do this alone.”
On Fox News Sunday, Sen. Jon Kyl goes after the Tea Party members in the House who say they are “standing on principle” by voting against raising the debt ceiling. Kyl said they remind him “a lot of Senator Barack Obama, who did the same thing, voting against the debt ceiling increase when he was in the senate.”
H/t: Gateway Pundit
BREAKING: ABC News’ Jonathan Karl is reporting tonight that the Obama White House and Republicans have struck a tentative deal to increase the Debt Ceiling before the August 2 deadline set by President Obama:
ABC NEWS – ABC News’ Jonathan Karl reports:
ABC News has learned that Republicans and the White House have struck a tenative deal to raise the debt ceiling before the Aug. 2 deadline. It’s not done yet, but here is the framework of the tentative deal they have worked out, according to a source familiar with the negotiations:
– Debt ceiling increase of up to $2.8 trillion
– Spending cuts of roughly $1 trillion
– Vote on the Balanced Budget Amendment
– Special committee to recommend cuts of $1.8 trillion (or whatever it takes to add up to the total of the debt ceiling increase)
– Committee must make recommendations before Thanksgiving recess
– If Congress does not approve those cuts by late December, automatic across-the-board cuts go into effect, including cuts to Defense and Medicare.
UPDATED 11:13 PM ET: ABC News has added that a “Vote on the Balanced Budget Amendment” is also included in the tentative deal. The White House is now saying no deal has been struck – that talks are ongoing.
The Rev. Jesse Jackson says President Obama should have been “tougher” in his dealings with Republicans over the Debt-Ceiling issue. Jackson thinks Obama is “too trusting,” and does not understand how much Republicans want to “destroy him”:
POLITICO: Jesse Jackson said Friday that President Obama should have been “tougher” with Republicans and less compromising to keep the debt ceiling negotiations from reaching their current crisis point.
“He has a propensity to be trusting, on the side of reconciliation,” the veteran civil-rights activist told POLITICO. “He kind of underestimates how ideological these guys are and how determined they are to destroy him.”
Jackson criticized the White House for agreeing too readily to take items such as war spending, taxes on the wealthy and corporate profits off the negotiating table, so that the only option left was cutting programs that assist the needy.
As a result, he said, extreme right-wing voices have been able to drive the debate.
“I think they’ve gotten used to watching him at some level give more ground,” he said, listing handouts to insurance companies in the health-care reform act and the extension of the Bush tax cuts as examples. “They feel they can keep pushing and he’ll keep giving. They have not seen a stiffness.”
The president could have begun by issuing an ultimatum — that if Congress didn’t act, he would act unilaterally. “To me, that line needed to be drawn in the sand earlier on,” Jackson said. . . . Read More
It appears Jackson thinks Obama should arbitrarily increase the Debt Ceiling without approval of Congress. If no bill is sent to Obama’s desk, it will be interesting to see what Obama does.
It appears House Republicans have revamped the Boehner Bill and have added a “Balanced Budget Amendment” requirement to the legislation, that would require the BBA to go to the states for a second debt-ceiling increase to take place. Fox News producer Chad Pergram tweets that sources tell him they have the votes to pass the revamped bill.
UPDATE 11:30 AM ET: Here are more Tweets from Fox News Producer Chad Pergram on the revamped “Boehner Bill”: