GOP Rep. Paul Ryan is indicating his support for the plan House Speaker John Boehner has put forward in the Debt Limit Debate. Ryan says the plan is not perfect, but considering the situation, he supports it:
THE CORNER (Paul Ryan):The Budget Control Act takes an important step in the right direction by cutting $1.2 trillion in government spending over the next decade. Critically, it does this without resorting to Senator Reid’s gimmicks and without imposing the president’s preferred tax increases on American families and the struggling economy.
This bill is far from perfect. We still have a long way to go toward getting the key drivers of our debt — especially federal health-care spending — under control. But considering that House Republicans control only one-half of one-third of the federal government, I support this reasonable, responsible effort to cut government spending, avoid a default, and help create a better environment for job creation.
In addition to securing a down payment of $1.2 trillion in spending cuts, the Budget Control Act tasks a congressional committee with cutting $1.8 trillion more. Such a committee would not be necessary if the Senate would do its job and address our nation’s biggest fiscal challenges, as the House has done. Unfortunately, the Senate has failed to pass any budget for 818 days, while the president has failed to put forward a serious, credible plan to get the debt under control. . . . Read More
Here is video of House Speaker John Boehner unveiling a two-stage plan to increase the Debt Ceiling, and make dollar-for-dollar cuts in spending.
WASHINGTON TIMES: House Speaker John Boehner’s legislation would provide for an immediate $1 trillion increase in the government’s $14.3 trillion debt limit in exchange for $1.2 trillion in cuts in federal spending.
It also envisions Congress approving a second round of spending cuts of $1.8 trillion or more in 2012, passage of which would trigger an additional $1.6 trillion in increased borrowing authority.
The two-step approach runs afoul of Obama’s insistence that lawmakers solve the current crisis in a way that avoids a politically charged rerun next year in the middle of the election campaign.
Stopping short of a veto threat, White House communications director Dan Pfeiffer called the proposal “not a serious attempt to avert default because it has no chance of passing the Senate.” . . . Read More
Obama is going to speak to the nation tonight at 9:00 PM ET, no doubt wanting to drone on again about the need for a “balanced” approach – “more revenues” – which means higher taxes on Americans. Obama and the Democrats seem to believe raising taxes is a winning message for them. But what it is doing is reinforcing all the stereotypes (that happen to be true) about liberals and Democrats – “They never met a tax increase they didn’t like.” I hope they keep talking about it all the way to Election Day, November 6, 2012.
Oh yes, he did. At the University of Maryland last week, Obama talked with some students and actually compared the way he is trying to handle the Debt Limit negotiations to the way President Abraham Lincoln handled the Emancipation Proclamation!
Can there be anyone who doubts The One’s immense ego?
President Obama met with Leaders of Congress today, one day after he went on a tirade against GOP House Leader John Boehner – and Republicans in general – for not agreeing to his demands for a massive tax increase as part of a “Big Deal” to raise the nation’s Debt Limit. Republicans in the House passed, “Cut, Cap and Balance,” which would raise the Debt Limit, but Obama and the Democrats in the U.S. Senate have rejected it because it does not include tax increases, and it would require a Balanced Budget Amendment. No deal was reached today during the 49-minute meeting demanded by Obama yesterday:
CBS NEWS: President Obama and congressional leaders met at the White House Saturday morning to discuss ways for the U.S. to avoid default on its loans in 10 days, a day following the breakdown in talks between the president and House Speaker John Boehner on the so called “grand bargain” to raise the debt limit, cut spending and raise government revenue.
Today’s meeting included House Speaker John Boehner; House Democratic Leader Nancy Pelosi; Senate Majority Leader Harry Reid; Senate Republican Leader Mitch McConnell; and Vice President Joe Biden.
There was no new deal following the meeting, which lasted about an hour, according to the White House. A statement from the White House said the leaders agreed to to talk to their respective members to continue discussions throughout the day. . . . Read More
Here is video of Wisconsin GOP Senator Ron Johnson on Fox News last night, where he said, “I never believed the President was negotiating in good faith.” Johnson said Obama’s behavior at his angry Press Briefing yesterday demonstrates that, and lets the American people see clearly that Obama “is certainly not the adult in the room.”
Johnson cited as further evidence the fact that Obama only started to meet on the Debt issue “a month ago,” and that earlier this year he presented a joke of a budget that would have added $12 Trillion to the Debt! It was defeated 97-0 in the U.S. Senate, not getting a single Democrat vote!
“He was going to add $12 Trillion to our debt, and yet he didn’t enter the negotiations until, what, about a month ago? That is not a serious player in these negotiations. He’s simply not serious.”
Johnson said he would support a “short-term deal” to keep the Government operating and to provide time for “Cut, Cap, and Balance” time in the public arena, because Johnson said the American people support a Balanced Budget Amendment. “Cut, Cap, and Balance is the answer.”
The Democrats in the U.S. Senate have killed the Balanced Budget Amendment this morning, defeating the “Cut, Cap, and Balance” measure passed by the Republican-controlled House of Representatives on Wednesday. In the video above, pathetic Democrat Senate Majority Leader Harry Reid says, very pleased with himself – “It’s over, done and it’s dead”:
POLITICO: The Democratic-controlled Senate on Friday narrowly voted to block a Republican measure that would force Congress to pass a stringent balanced budget amendment and cap spending before increasing the debt ceiling.
The legislation, a conservative priority, never had a chance of passing, but the strictly partisan 51-46 vote to table the “Cut, Cap and Balance” bill highlighted the partisan divide in Washington over how to tackle spending and raise the nation’s $14.3 trillion debt limit. Before the vote Majority Leader Harry Reid (D-Nev.) again called the plan “radical” and “one of the worst pieces of legislation to ever be placed on the floor of the United States Senate.”
The vote handed conservatives a chance to showcase their strategy for restricting future spending in Washington, but it faced a veto from President Barack Obama, so it was more of a symbolic vote for Republicans to put their mark on deficit reduction.
With Cut, Cap and Balance out of the way, the Senate rejection now clears the way for congressional leaders to take up a possible multitrillion-dollar deficit-cutting package or a fallback plan now being negotiated by the two Senate leaders. . . . Read More
It is clear that President Obama and the Democrats don’t want a balanced budget, because they don’t want to stop spending to feed all their Left-wing pets and causes. This straight party-line vote of 51-46 shows why it is vital for Americans to give Republicans at least 60 votes in the Senate, as well as the White House in 2012. America’s fiscal house will never be in order with Obama and the Democrats in control.
It’s also important to note that Obama and the Democrats have now rejected the ONLY plan offered to increase the Debt Limit. They have no plan, and if the Debt Limit is not raised – it’s on their heads.
The U.S. House of Representatives approved an bill that would increase the U.S. Debt Limit by $2.4 Trillion, accompanied by spending cuts, a cap on future expenditures and a Balanced Budget Amendment requirement. The bill passed the Republican-controlled House 234-190:
FOX NEWS: The House of Representatives has approved the GOP’s ‘Cut, Cap and Balance’ plan with a vote of 234 to 190.
The bill imposes caps on federal spending as a percentage of GDP. It also allows for an increase in the debt ceiling by $2.4 trillion in exchange for both the Senate and House approving a balanced budget amendment.
Nine Republicans voted no on the plan, including Rep. Michele Bachmann (R-MN). Five Democrats sided with Republicans. . . . Read More
Obama and the Democrats cannot say that Republicans have done nothing to deal with the Debt Limit crisis. It is Obama who has done nothing – literally – to deal with the nation’s massive debt, except add to it.