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Sunday, July 24, 2011

Debt Deal Updates- LINKFEST

Plenty of news on the ongoing negotiations regarding the debt ceiling increase Barack Obama has demanded from Congress and the delicate discussions between the two sides of the debate.

So, a linkfest for you!!!

Congress ditches Obama on debt talks ---

First came the Biden talks. When those blew up, the Obama-Boehner talks took center stage. And when that failed, the McConnell-Reid talks looked promising. And after they faltered, the Obama-Boehner talks tried to find a new life.

Now it’s all come down to the Boehner-Reid-Pelosi-McConnell talks to solve the debt crisis. Notably absent? The president.

GOP readies new debt ceiling plan; bill set for Sunday---

House Republicans are finishing work on a new proposal to resolve the standoff over the debt ceiling. The proposal, set to be finished and crafted into the form of a bill by 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.

Pelosi says leaders looking at two-tiered debt approach---

House Minority Leader Nancy Pelosi (D-Calif.) said Saturday night that congressional leaders are considering a two-tiered approach to raising the debt ceiling and reducing the nation’s long-term budget deficit.

Pelosi reiterated that she backs “a long-term extension” of the $14.3 trillion debt limit, putting her in line with the demands of President Obama and Senate Majority Leader Harry Reid (D-Nev.).

Congressional leaders met for just under an hour in House Speaker John Boehner’s (R-Ohio) office late Saturday, trying to forge an agreement to slash government spending and raise the debt ceiling by the Aug. 2 deadline.

Reid, however, released a statement that was less than optimistic about reaching an agreement on the timeframe of a deal.

"I hope that Speaker Boehner and Leader McConnell will reconsider their intransigence," Reid said in his statement. "Their unwillingness to compromise is pushing us to the brink of a default on the full faith and credit of the United States. We have run out of time for politics. Now is the time for cooperation.

Since it was Reid and fellow Seante Democrats that killed the Cut, Cap and Balance Act the House passed which did include a debt ceiling hike, perhaps Reid should be a little more honest about who is stopping the deals from going through.

Speaker Boehner: President Obama 'worried about his next election'---

Boehner also criticized President Obama for recommending a debt ceiling deal be timed to last beyond the next election season.

“The president’s worried about his next election, but my God, shouldn't we be worried about the country?” Boehner said. “I'm not worried about the next election. I told the president months ago: Forget about the next election!”

The administration though has indicated that the debt ceiling should be raised at least through 2012, in order to take politics out of the negotiation.

The president said in his speech Friday evening that he would be willing to work on “any plans” that lawmakers brought him over the weekend. “The only bottom line that I have is that we have to extend this debt ceiling through the next election, into 2013,” President Obama said.

No one is naive enough to believe Obama cares about anything but his next election.

Boehner prepared to move debt plan by himself---

House Speaker John Boehner says the short-term measure he plans to announce Sunday to avert a debt limit crisis may not get support from Democratic leaders, but he'll push forward even without such backing.

Responsibility for debt talks shifts to Congress and away from Obama---

House Speaker John Boehner (R-Ohio) reasserted his intention to do just that, issuing a statement that didn't even mention the president or the administration.

"[O]ver this weekend Congress will forge a responsible path forward," the Speaker said. "House and Senate leaders will be working to find a bipartisan solution to significantly reduce Washington spending and preserve the full faith and credit of the United States."

And, to emphasize responsibility now lies with Congress, Boehner and congressional leaders held their own meeting at the Capitol Saturday evening.

Happy Reading Everyone!!!!

PS- Just for giggles after obama's comment about Boehner leaving him at the altar:

Graphic lifted from Google images which took me to EmptyWheel