Tag: debt ceiling

UPDATED: It is about pea-picking time: Deal possibly reached on Debt Ceiling

Posted on3 Comments

I’m running on about three hours of sleep; so, if I sound a bit cranky, that is why.

Finally, these morons have gotten their proverbial shit together and got some sort of a deal together….FINALLY:

Here, according to Democratic and Republican sources, are the key elements:

A debt ceiling increase of up to $2.1 to $2.4 trillion (depending on the size of the spending cuts agreed to in the final deal).

They have now agreed to spending cuts of roughly $1.2 trillion over 10 years.

The formation of a special Congressional committee to recommend further deficit reduction of up to $1.6 trillion (whatever it takes to add up to the total of the debt ceiling increase). This deficit reduction could take the form of spending cuts, tax increases or both.

The special committee must make recommendations by late November (before Congress’ Thanksgiving recess).

If Congress does not approve those cuts by December 23, automatic across-the-board cuts go into effect, including cuts to Defense and Medicare. This “trigger” is designed to force action on the deficit reduction committee’s recommendations by making the alternative painful to both Democrats and Republicans.

A vote, in both the House and Senate, on a balanced budget amendment.

via Congressional Sources: Republicans and Democrats Reach Tentative Debt Deal – The Note.

Of course, the left is not happy with this at all; because there is no revenue (read: Tax Increases!) at all. The right is not breaking out the pom-poms either; they’re saying the cuts are not enough.

To both sides; I say this…. Well, it is something! 🙄

Because folks, whether either side wants to acknowledge this or not — if we default — we are seriously fucked! Trust me, when I say this; we do not want that, at all. 😮

As for me; I will be so glad, when this story goes away — because I am about damned sick and tired of reading about it! 😡

Anyhow, here’s the round up of the bellyaching and ballyhooing and so forth: The Daily Beast, Le·gal In·sur·rec· tion, The New Republic, Shakesville, theblogprof, No More Mister Nice Blog, AmSpecBlog, Pirate’s Cove, The Daily Caller, americanthinker.com, The Sundries Shack, RedState, YID With LID, Daily Kos, Booman Tribune, The Moderate Voice, Donklephant, Weasel Zippers, Hugh Hewitt’s TownHall Blog, AMERICAblog News, CNN, The Right Scoop, Alan Colmes’ Liberaland, Taegan Goddard’s …, Questions and Observations, Pajamas Media, Politics and Verum Serum — The rest via Memeornadum

Update: 3:44 — Would you believe those morons have not struck a deal….yet? AllahPundit has the low down.

 

Republicans say “No Mas!” to debt ceiling talks

Posted on

Looks like the Republicans have had enough.

This comes via ABC’s The Note:

Senate Minority Whip Jon Kyl, R-Ariz., will also drop out of the debt talks, a source within his office confirms today. The Arizona Republican’s office will issue a formal statement shortly.

After House Majority Leader Eric Cantor (R-VA) dropped out of the talks this morning, Senator Kyl was the lone Republican in the group left. And with his withdrawal late this morning, the group does not have a Republican negotiator left in the room.

The group was set to meet for the 11th time this afternoon with Vice President Biden, their third meeting of the week.

The group started as six – but is now down to four members from Congress. The remaining members are: Senate Finance Committee Chairman Max Baucus (D-Mont.), Senate Appropriations Chairman Daniel Inouye (D-Hawaii), Assistant House Minority Leader James Clyburn (D-S.C.), and House Budget Committee ranking member Chris Van Hollen (D-Md.).

This is nothing more, than the Republicans finally growing a pair and telling the Democrats, “you made this bed; now lay in it!!”

What I find amusing is this idiot spin by the Democrats:

UPDATE 12:00 p.m. – A Senior Democratic aide says, “Cantor and Kyl just threw Boehner and McConnell under the bus. This move is an admission that there will be a need for revenues and Cantor and Kyl don’t want to be the ones to make that deal.”

More liberal spin and bullcrap. The Republicans; unlike liberals, know that raising taxes on the Nation’s top earners is NOT a smart way to create jobs and generate revenue for the Country. The way to do this properly is to lower taxes for the top earners and remove regulation for the aspiring entrepreneur, who wants to follow the American dream and be his own boss.

But, no, the Democrats want to TAX the crap out of EVERYONE; not just the top earners, but everyone, to pay for their ill-conceived and hair-brained plans like so-called “economic stimulus” that did not work at all. This is why the Republicans walked out on these talks.

Allahpundit over at HotAir.com snarks:

Note to self: Buy gold.

…….and seeing that the Republicans and Democrats are not willing to come together to fix this problem. That is most likely not a very bad idea……