FIVE DAYS LEFT

[iwasthere]

Anyone for playing kick the can?

yes i will kick all of the cans out of washington dc until we have cans that know how to leed.

[sfc_oliver]

Anyone for playing kick the can?

[Towntalk]

House Speaker John Boehner told House Republicans Sunday night that there is nothing in the framework of the newly announced debt agreement that "violates our principles," according to a transcript of his remarks obtained by CNN.
The agreement calls for more than $2.4 trillion in deficit reduction.
"It's all spending cuts. The White House bid to raise taxes has been shut down. And as I vowed back in May -- when everyone thought I was crazy for saying it -- every dollar of debt limit increase will be matched by more than a dollar of spending cuts. And in doing this, we've stopping a job-killing national default that none of us wanted," he reportedly said.
Both chambers of Congress still must pass the measure.

[Towntalk]

BREAKING NEWS

[/i][/b]

Two days before the deadline for a possible U.S. government default, President Barack Obama and congressional leaders reached agreement Sunday on a legislative package that would extend the federal debt ceiling while cutting spending and guaranteeing further deficit-reduction steps.

The proposed $3 trillion deal, which still requires congressional approval, brought some immediate relief to global markets closely watching the situation play out and a nation filled with anger and frustration over partisan political wrangling that threatened further economic harm to an already struggling recovery.

However, there was no guarantee the plan will win enough support to pass both chambers of Congress.
Democratic and Republican leaders in both the House and Senate were briefing their caucuses about the agreement on Sunday night or Monday.

[Towntalk]

As of 5:50 PM - 7/31/2011

Senate Majority Leader Harry Reid said in a statement issued Sunday that he signed off on a debt ceiling agreement reached with President Barack Obama and Republican leaders, pending approval from his Senate Democratic caucus.

[Towntalk]

In a few short hours the Asian Stock Markets will open setting the stage for other markets, and if a deal hasn't been reached before then, the Federal Government will suffer a hit on its T-Bills. How bad this hit will be can not be determined yet.

In the meantime Senate Republicans on Sunday blocked a Democratic effort to end debate and move to a vote on Majority Leader Harry Reid's debt ceiling proposal, extending consideration of the measure as negotiations continue on a deal to raise the federal debt ceiling and cut spending.

While some of the back-and-forth between the House and Senate and the party leaders was typical of the late stages of a negotiation, the combative and unyielding tone in both chambers of Congress was creating more pessimism in the rank and file about the prospects that a final agreement could be struck and cleared before Tuesday.

[Rick Rowlands]

Doesn't the increase in spending wipe out those proposed reductions?  So we don't actually reduce the debt at all, and next year when those reductions mysteriously disappear we'll continue adding to our spiraling debt! 

This country will collapse.  It is inevitable with children such as this running the show.

[sfc_oliver]

Deficit reduction of nearly 3 trillion in 10 years...........


When might they actually work on debt reduction?

[Towntalk]

As of 1:00 AM 7/31/2011

The framework of a tentative deal to raise the nation's debt ceiling calls for up to $2.8 trillion in total deficit reduction over the next decade, sources tell CNN.

The agreement, still being negotiated by the White House and bipartisan congressional leaders, would allow the debt ceiling to be raised by enough to last at least through the end of 2012.

News of a possible deal came shortly after the Senate delayed consideration of Majority Leader Harry Reid's proposal late Saturday, pushing back a key procedural vote by 12 hours.

[Towntalk]

Is this man the real Speaker of the House?

It looks increasingly as if a majority of House Republicans, their allegiance pledged to Grover Norquist, prefer default by the U.S. government over any increase in tax rates, even on people who make a million dollars a day and pay lower rates than middle-class Americans.
Many signers of the no-tax-rate-hikes pledge invented by Norquist, the anti-tax crusader who is president of Americans for Tax Reform, seem to have forgotten their greater duty to the U.S. Constitution.

[sfc_oliver]

Well then it seems as though we know where the problem lies.

Reid refuses to remove his upper appendage from his posterior.

[Towntalk]

As of 8:00 PM EST
Senate Majority Leader Harry Reid, D-Nevada, said Saturday afternoon that GOP claims of new progress on a debt ceiling deal are "not true."

Senate Minority Leader Mitch McConnell, R-Kentucky, and House Speaker John Boehner, R-Ohio, held a 4 p.m. ET afternoon press conference in which they both said a deal was close. Two hours later, Senate Majority Leader Harry Reid, D-Nevada, asserted the claims of his Republican counterparts were simply "not true."

[irishbobcat]

Wow.>>Sarge the know-it-all has spoken!!!!!!!!!!!

[sfc_oliver]

We sort of knew that they would come up with something. I'm not sure that whatever they come up will be good for the country. I know for certain that it won't be what's best for the country.

[Towntalk]

As of 7/30/2011 at 5:30 PM EST

Republican congressional leaders indicated Saturday afternoon they are close to reaching a deal with President Barack Obama to raise the nation's debt limit and avoid what would be an unprecedented national default.

Senate Minority Leader Mitch McConnell, R-Kentucky, said he had talked to Obama and Vice President Joe Biden this afternoon and was "confident and optimistic" that there will be an "agreement within the very near future."

A national default "is not going to happen," McConnell promised.

House Speaker John Boehner, R-Ohio, also expressed optimism that an agreement is near.