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Subscribe to RSSSenate Majority Leader Harry Reid has signed off on a debt-ceiling agreeement with the White House and congressional leaders -- pending caucus approval -- his spokesman Adam Jentleson said in an email message to reporters.
This statement came after Reid and Democratic leaders emerged from almost two hour meeting in House Minority Leader Nancy's Pelosi's office.
The final hold up? A GOP source with knowledge of the debt talks tells NBC News that the "last hurdle" to arriving at a deal has to do with cuts to the Defense Department.
In the event that the special commission -- or "Super Congress" -- fails to reach an agreement, and automatic cuts are triggered, the Obama administration would like to see Defense cuts equal 3% of its annual budget in the first year.
The GOP is saying that is way too high, and would like that number to come down to 2% or less.
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Looks like the American Tealiban isn't serious after all on spending cuts huh?
Oh wait...NOW... I get it, they're totally comfortable with Halliburton continuing to pick the pockets of everday Americans, BUT when it comes to Medicare screw the poor people...
Where have I seen this scheme before?
Feisty Red....
You do know that defense of this country is one of the few things spelled out in the US Constitution that the feds are supposed to do, right? Thats more than most of the other BS programs that the feds are funding. Having said that, I'm sure there are a few bucks that could be cut by someone who does not just want to redistribute it to some program for turtle walks or scrimp treadmills, etc....
Just Saying...
Lol, Feisty...
When President Obama reaches an agreement with the GOP to lift the debt ceiling...
You'll also be in agreement.
Won't you...?
No matter WHAT they agree to.
You're a hoot, Feisty.
Still...
You could always prove me wrong....and oppose President Obama's deal to raise the debt ceiling.
Tell the President he's making a mistake, Feisty...
Go get 'em...!
lol...
Feisty redwig seems to be wrapped a little tight again, and she misses the point.
Final Outcome: Obama will get credit for raising the debt limit. Republican conservatives will be able to say they voted no. Boehner will keep his credibility because he got a pure debt limit bill passed only with GOP votes before he crossed the aisle for final passage.
But the real outcome will be to have brought Obama's job approval down from its bin Laden high of 55% to a new Gallup low of 40%. That is ground he won't be able to make up. And, put through the rigors of tension and uncertainly, the economy will sink further into a double dip recession. A recession brought on, in large part, by Obama's crying wolf over the debt limit and creating an environment of financial and economic terror around its passage.
Republicans proved they can govern by passing their one-house debt limit increase. Their fiscal conservative credentials are intact. And Obama looks, once more, like a weak and easily cowed incompetent to his backers and a big spending and borrowing liberal to the rest of us.
Like others have said: Advantage Americans, libretards take a shower!
You call what the Teapublicans just did governing?
BWAA-HA-HA-HA-HA-HA-HA-HA-HA-HA-HA-HA!!!!
No, the right-wingers above are missing the point. I actually laughed when I read the last sentence:
"The GOP is saying [the tax CUT] is way too high..."
If you've followed this Dr. Evil saga all along, you would recall that both Parties agreed to $1.5 to 1.7 trillion in spending cuts during the Biden talks. Those cuts are from discretionary spending and defense. Those cuts, which were Reid's original bill are BIPARTISAN, yet the House had to suck more oxygen from the air with their symbolic vote against it.
Both bills passed by the House were the same bill, so only counts as one bill. That one bill is for amendment to the constitution -- a rare, and a long and difficult process that is completely unrealistic. So neither count.
Come on people, try to keep up.
I hope they reach an agreement soon.
me too lisa I thing we all want this to be finished! Except perhaps 'feisty redhead' --- every post of hers seems to be laced with mean spiritedness and vile insults! I don't think she'd be happy until the country burns. Compromise and civil discussion don't seem to be in her agenda! Thankfully, I know she's in the minority! Does she have another life outside First Read?
Same deal with the tax cuts. . .
Obama caved. If it does not entail big money for his donors, he caves.
If it does entail his giving up something- like his birthday party fundraisers, he caves.
Empty suit/ corrupt politician.
That's your god.
Sally Rocks, just ignore feisty redwig! We believe she lives alone and other than eating children or dogs who get to close to her cave, basically has no life but this blog. She's mean, but has no bite here!
Sally Rocks classically
I agree with your statement Sally, for it does seem she and a few others from the NewsVine Progressive Fan Club throw the insults at every opportunity. I don't know the lady, and I will give her the benefit of doubt, but civility isn't a part of her DNA.
Does she have a job? Why that's is an interesting question. Care to answer that Feisty Redhead?
Sally and Bill- I'm sorry, but picking on people, no matter how mean, is just plain wrong.
Feisty has no life. Just First Read, her imaginary bar, and her imaginary friends. You have to feel sorry for people like that- they belong to a religious cult of "Obama the Famous". Famous for what? Well, failure, if you must be so rude as to enquire.
Once he's gone, what will she have? No job, no family - heck, I think even her cats ran away.
You need to pity people like that- not mock them.
No Joe,
Pity her - why? Feisty must have a need to strike out with personal attacks on people who only want to become more involved in the political process. She believes she is funny, and to a degree is. I enjoy laughing at her rants daily, or whenever I log on. But only her fans from the NewsVine Club must enjoy the snappy one-liners she uses.
Poor lady, but ye reap what ye sow.
Hunky, I understand what you are saying, but really, I find it hard to pick on the pathetic.
As nasty as she is, (and she has reserved the most vitriolic of her comments for me), I pity her.
She is a sad, sad person, with no life. It's hard for me to condemn someone that sad.
But not as sad as the three stooges of the Senate: Harry, dickie and chuckie (Fanny and Freddie are solvent) Schumer. The GOP leaders sit across from Barry O and VP what's-his'name Biden, to discuss the deficit issue while the head stooge and Nancy talk from the phone in Nancy's office.
So, Barry O again sold the Progressives down-the-river and Harry has to sign his name to a document he tabled twice because Barry said to. Anything to save the Barry O image and his chance of re-election. But are the people as stupid as he believes?
Oh, NavyBoy, am I starting to get this connect the dots thingy right? How simple when you use Progressive ill-logic to the equation.
Nowhere in the Constitution does it spell out paying for 700+ military bases overseas in the name of 'defense.' The DoD is a misnomer (kind of an Orwellian one). It is the War Department. It could use a haircut.
It can already be said the BS is knee deep. Did anyone catch this from the article?
the Obama administration would like to see Defense cuts equal 3% of its annual budget in the first year.
Can someone tell me what budget? We haven't seen a budget in years. How do the American people know where to look for the 3%?
Sometimes I think this is all a dream... so much fantasy coming out of Washington is convincing me that I'm deep asleep and outside of my body there's a sane world out there. I'm getting sick and tired of being lied to by our government. They do it regularly and without any compunction. It's the normal order of business. Tell them anything... they'll believe it... and if they don't... so what!
[Can someone tell me what budget?]
The Defense budget...
[We haven't seen a budget in years.]
There has been a defense budget EVERY year...
[How do the American people know where to look for the 3%?]
We don't...it's on a "need to know" basis, and we don't need to know...besides, if you take the 2010 defense budget of $664 billion and cut 3% you get approximately $644 billion dollars, or a little less than $20 billion less.
http://en.wikipedia.org/wiki/Military_budget_of_the_United_States
Brianb, I think this whole process is fascinating. Its a Sunday, usually a slow news day. Today you see the results of cable 27/7 political/news coverage, who's winning, who is between a rock and hard place. The operative words from all commentators: "what are you hearing?" ;Everyone is giving their "sense of what is going on".
This is code for" nothing is agreed to until everything is agreed to." So each congressman and senator is getting free time to speak to their voters. It costs them nothing until the tally of the votes are on the boards.
Brian, what sport analogy would you use that would also describe what we are seeing for the last three weeks?
There isn't a budget. What R the specific cuts in understandable dollar amounts? Cuts 2 what programs by how much each year? Do they want us 2 do the math?
When they finish negotiating, this is still going 2B a no deal bill. If they had all their ducks in a row, there would be a vote on the debt ceiling bill, already.
We R down 2 the wire! It is the eleventh hour.
Mr. President invoke the 14th Amendment.(period)
Take charge of this run away T-Bagging RePuckincons dung ho deal.
Northstar - Tennis comes to mind. A long game of tennis... back and forth, across the net. The score is love/love. No winners... and we are in the first set.
It could also be described as a game of football... no one crossing the goal line... a lot of punts but no score here either. Plenty of side line commentators though. Everyone having an opinion on what play to make next... a lot of second guessing but each time we reach 4th down, a punt is kicked and the other team has the ball.
What sport did you have in mind?
Wait! Another one comes to mind... We are in the 7th inning stretch. Score 0 to 0. Its a no hitter for each pitcher... no one has reached 1st base... lots of outs and a few curveballs have been thrown.
I guess this whole debacle could be taken in any sort of sport... Even dodgeball... LOL
Hey Phyllis,
Well...we can just do the senator obama playbook ploy and vote no because of the lack of leadership in the White House, right? I mean that's why he voted no back then...so either he was an idiot back then or he is one now...which is it?
There is no budget this year.
There was no budget last year.
Or the year before that.
There will be no budget next year.
It's historic- unprecedented even- for a president to spend his ENTIRE term with no budgets.
That's what happens when you try to have no record. He has one, though- billions for his donors, and four trillion on the debt.
You guys should try to save your party- get this moron to resign. He will not be reelected. Not by a longshot. And he'll lose the Senate, too.
And Obamacare? Gone. Just as soon as the new president is sworn in- whoever the republican nominee is, he'll win.
Or she.
Eliminating the loopholes would go along way to achieving a balanced budget. When a multi-billion dollar company paid $0.00 in taxes last year, then announces recently they are moving their entire x-ray unit to China.... something is wrong, very wrong! Unfortunately for us, GE's CEO is actually an Obama appointee for the President's task force on job creation! Is this a joke or are we in the Twilight Zone ? "key TZ soundtrack now" Don't think we'll be seeing Obama making any effort to close all those loopholes!
Ryan's budget includes removing loopholes, and it addresses the defense in a more realistic manner that Obama would like.
BOOOOOOOO!!!!!!!!!!!!!! What a victory--give the republicans everything they want, get nothing for the democratic base and then lie to us and tell us this is a compromise!! I repeat--boooo!
Don't ya just love it Sueb1! And this isn't the first time Barry O vasilated to the Republican side. How about those Obama tax credits too!!!
don't feel bad Sueb1, Barry O will do anything for his image. And as for telling lies, well, I received my VA disability check yesterday; my wife, the Navy vet also received hers; my brother the Battalion Commander, US ARMY beat Navy, received his military pay; and our parents received their SS check.
Now who in the OvaL Office lied to the population? holding the seniors and the military hostage through fear tactics, right.
Why, I'll bet even US Navy Retired and Disabled, or whatever NavyBoy calls himself received his check too yesterday. Care to comment NavyBoy?
Hunky, You lie. Your parents did not receive their SS checks for the month of August. They are sent on the Wednesdays of each month. The first one will be in the mail or your checking account on Wed. Aug 3.They receive it based on their birth date.
So glad our tax dollars are supporting your family. I am more than happy to pay my fair share each and every year. I support all the programs you are qualified to participate in.
You have a plesant evening.
Northstar, the check was in the account. If they are sent early, so much better for them.
Ah Northstar, tax dollars are not supporting my family. We are gainfully employed, but do collect the VA benefits received due to earning them in combat. My brother earns his in the military. And the parents really don't need SS benefits since they did earn and invest wisely during their working years.
And I am happy to see your fair share each month in the VA check. And my morning is pleasant as it is every morning I awake and go to work.
JK1963
Not so fast! Don't call the President an idiot just yet.
Even if the debt ceiling passes, we still don't have any details on how much will be cut from each Entitlement Program. For instance, cuts in Medicaid can be in form of making doctors pay, say $300 across the board 4 a cast that they would normally bill the government $500 2 $1000. Then doctors will have 2 do business only with those suppliers who charge $300 per cast.
The so called Obamacare has put in place a program that will let ER and doctors from border 2 border pull a patient's Medical Records 4 comparison 2 avoid duplicate tests regardless 2 where a person goes 4 healthcare. Money saved.
President Obama is putting an end 2 many fraudulent Medical claims filed by people pretending 2B doctors. Money saved
There R so many loop holes in the deal President Obama just made until it don't make sense. I believe the GOP is going 2 get screwed on this 1, because we still don't have any specifics.
Let's just let it play out.