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  1. #1
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    House To Vote To Lift Debt Limit

    WASHINGTON (AP) The Republican-controlled House will vote next week to permit the government to borrow more money to meet its obligations, a move aimed at heading off a market-rattling confrontation with President Barack Obama over the so-called debt limit.

    Full details aren't settled yet, but the measure would give the government about three more months of borrowing authority beyond a deadline expected to hit as early as mid-February, No. 2 House Republican Eric Cantor of Virginia said Friday.

    The legislation wouldn't require immediate spending cuts as earlier promised by GOP leaders like Speaker John Boehner of Ohio. Instead, it's aimed at forcing the Democratic-controlled Senate to join the House in debating the federal budget. It would try to do so by conditioning pay for members of Congress on passing a congressional budget measure.

    "We are going to pursue strategies that will obligate the Senate to finally join the House in confronting the government's spending problem," Boehner told GOP lawmakers at a retreat in Williamburg, Va. "The principle is simple: 'no budget, no pay.'"

    The Senate hasn't passed a budget since 2009, which has drawn lots of criticism from Republicans but protected Democrats controlling the chamber from politically difficult votes.

    Senate Majority Leader Harry Reid welcomed the House GOP move.

    "It is reassuring to see Republicans beginning to back off their threat to hold our economy hostage," said Reid spokesman Adam Jentleson. "If the House can pass a clean debt-ceiling increase to avoid default and allow the United States to meet its existing obligations, we will be happy to consider it."

    GOP leaders have been grappling with how to gain leverage in their battles with Obama over the budget. Boehner successfully won about $2 trillion in spending cuts as a condition of increasing the government's borrowing cap in 2011.

    Obama, however, was dealt a stronger hand by his re-election in November and successfully pressed through a 10-year, $600 billion increase on upper-bracket tax payers earlier this month.

    Other choke points remain, including sharp across-the-board spending cuts that would start to strike the Pentagon and domestic programs alike on March 1 and the possibility of a partial government shutdown with the expiration of a temporary budget measure on March 27.

    Failing to meet those deadlines would have far less serious consequences than defaulting on U.S. obligations like payments to bondholders, Social Security recipients and myriad other commitments when the government confronts a cash crisis and can no longer borrow to make payments. That could cause a meltdown in financial markets and would inflame voters already disgusted with Congress.

    Boehner has previously invoked a promise that any increase in the government's borrowing cap would be matched, dollar for dollar, by spending cuts or "reforms" that could include curbs on the long-term growth in retirement programs such as Medicare. Friday's announcement did not repeat that specific promise.

    "Before there is any long-term debt limit increase, a budget should be passed that cuts spending," Boehner said. "The Democratic-controlled Senate has failed to pass a budget for four years. That is a shameful run that needs to end, this year."

    The measure picked up support from key GOP conservatives, including the current and former chairmen of the Republican Study Committee, a powerful group inside the House GOP.

    "In order to allow time for the Senate to act, next week's bill will extend the debt limit for three months," the Study Committee said Friday in a statement. "This is a necessary first step as we work to halt the decline of America and puts the focus where it belongs: on the Senate who has failed to do their jobs to pass a budget for more than three years." The statement was issued by RSC Chairman Steve Scalise, R-La., and former chairmen, Jim Jordan, R-Ohio, Tom Price, R-Ga., and Jeb Hensarling, R-Texas.

    Obama's budget is due early next month but is expected to be released several weeks later.
    So, basically the Senate has 3 months to pass a budget. If they don't pass a budget, none of the congressional members gets paid.

    Thoughts?

  2. #2
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    Looks like the GOP is blinking on the debt limit. Boehner and his boys are looking weak and disorganized.

    Hopefully this is a prequel to some actual budget reform talks. Bills gotta be paid, deficit needs to be dealt with. If the GOP is actually serious about doing this, not just cutting democratic spending programs under the guise of reducing the deficit, then we can get something done. That would be good.

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    I think the plan is for the senate to get a budget done before the 3 month time period is over. If they don't, they don't get paid, the blame goes to the democrats.

    I think it's a good plan for the GOP. They will get blamed if they didn't lift the debt ceiling. If the Senate doesn't pass a budget, the democrats get the blame, and they don't get paid. Smart plan if you ask me.

  4. #4
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    Quote Originally Posted by IndyFan View Post
    Looks like the GOP is blinking on the debt limit. Boehner and his boys are looking weak and disorganized.

    Hopefully this is a prequel to some actual budget reform talks. Bills gotta be paid, deficit needs to be dealt with. If the GOP is actually serious about doing this, not just cutting democratic spending programs under the guise of reducing the deficit, then we can get something done. That would be good.

    Um so if the GOP passes a debt ceiling they are called weak. If they don't they are hijacking the country for political gain. So no matter what happens they are never the winners or at the least doing their jobs.


    Come to psd where admitted dupes who do nothing but troll the gd and fs forum are free. But man don't you dare mention trolling on someone's wall.

  5. #5
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    Quote Originally Posted by behindmydesk View Post
    Um so if the GOP passes a debt ceiling they are called weak. If they don't they are hijacking the country for political gain. So no matter what happens they are never the winners or at the least doing their jobs.
    Not exactly. They had stated they were not going to raise the limit without dollar for dollar cuts. So, raising the rate without the extortion is being called weak. In my opinion, it is just making sense. The debt limit is about paying what you have already spent. The continuing resolution is where they should be looking at cuts, because that is where future spending takes place. You have to pay your debts.

    From a winner/loser point of view, they were never going to be winners when they stated that that they were going to extort cuts over the debt ceiling. It was a stupid strategy that set them up for a lose/lose outcome if President Obama was reelected.
    Here is the question of the day, does anyone think that wealthy people should pay a lower percentage of their income to taxes than middle class people? Don't argue tax brackets, just a simple question. Do you think someone earning 46 million dollars should pay a lower percentage of their income than say someone earning sixty thousand?

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    Quote Originally Posted by behindmydesk View Post
    Um so if the GOP passes a debt ceiling they are called weak. If they don't they are hijacking the country for political gain. So no matter what happens they are never the winners or at the least doing their jobs.
    I equate it to a punt in football.

    Congress is already dealing with very low approval ratings and it seems like they don't want to be the source of Americans anger anymore.

  7. #7
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    I don't understand the premise of the article. If the GOP controls the House and the Dems control the senate, then how can the GOP unilaterally tie pay to passing a budget? The article seems to indicate that premise is possible, which even if it weren't for a Constitutional Amendment wouldn't be possible. Only the president could do that by using his executive authority to determine what bills get paid (Congressional pay, at least to my understanding) is a payroll obligation of the executive branch since I think they get paid out of the Treasury.

    Regardless, I am glad to see them moving forward though I actually disagree with Harry Reid very strongly. The idea of not tying spending cuts to this is asinine. They should cut spending I mean we are talking about raising the debt limit, it should be offset in the future.
    Member of the Owlluminati!

  8. #8
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    Quote Originally Posted by behindmydesk View Post
    Um so if the GOP passes a debt ceiling they are called weak. If they don't they are hijacking the country for political gain. So no matter what happens they are never the winners or at the least doing their jobs.
    Doing their jobs would be passing the debt limit bill and starting to negotiate, in good faith, on spending reduction. Looking weak is stretching this out with silly conditions trying to shift the blame to the senate.

    What needs to be done is not rocket science, but it does require compromise. Unless/until the GOP decides to make real efforts to come to an agreement, they are just playing political games. Poorly. Unfortunately for them.

  9. #9
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    The Republican house, never had any leverage in this deal, and decided to save face NOW, rather then having their bluff called later, this was the only move.
    In regards to this consistent message from the RT that the senate and the Dems and Obama have NEVER proposed a budget, do you guys on the RT even know that, that is a lie?

    Honestly..how many of you believe that the Obama administration has never submitted a budget in 5 years?

    Total BS.

    what happened was the R house gave him a stupid budget plan so he gave them one right back, they then adjusted their bill(barely) and he refused to respond with another budget becasue they had really moved any of their positions.

    Now they keep saying ,the Ds havent doen thier job and the people you trust to keep you informedx just flat out lie to you.
    STORK WAS RIGHT!
    Mcfadden is useless

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