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House Speaker John Boehner's debt plan is going nowhere, as it faces opposition in his own party...

House Speaker John Boehner's debt plan is going nowhere, as it faces opposition in his own party and Pres. Obama threatens a veto. Sen. Harry Reid's plan, or a modified version of it, that even Larry Kudlow seems to like now appears to be the only remaining way out of the impasse.
Comments (27)
  • Bear Bait
    , contributor
    Comments (672) | Send Message
     
    There for a while I thought there might be some hope for Boehner; but, I was wrong.
    26 Jul 2011, 06:03 PM Reply Like
  • tunaman4u2
    , contributor
    Comments (3027) | Send Message
     
    Boehner is a moron, Obama sucks too but at least he's trying & is compromising a bit
    26 Jul 2011, 06:09 PM Reply Like
  • mike8599
    , contributor
    Comments (592) | Send Message
     
    John has risen to the most admired person in congress. He only one to stand up and do what is right.....

     

    He does what he says, and doesn't play with words like Obama
    26 Jul 2011, 09:23 PM Reply Like
  • Monngie
    , contributor
    Comments (928) | Send Message
     
    I admire his fake tan and his emotional outbursts complete with real tears.

     

    He's great.
    26 Jul 2011, 09:44 PM Reply Like
  • Hendershott
    , contributor
    Comments (1561) | Send Message
     
    Boehner doesn't play with words? Are you for real? Here's a question for you, why go to the extent of risking the GOP and the country to defend approximately 5% of the income earners from a modest tax hike, even if it's really just letting a break expire? Particularly when the top tax bracket has the lowest tax rate and the highest proportion of the unadjusted gross income in history? As a Republican, I don't get it.
    26 Jul 2011, 10:33 PM Reply Like
  • HiSpeed
    , contributor
    Comments (1107) | Send Message
     
    If I recall correctly, the USA AAA rating would get cut unless at least $4 trillion in spending cuts were made. I don't see either party offering that (yet)...
    26 Jul 2011, 06:11 PM Reply Like
  • Dana Blankenhorn
    , contributor
    Comments (6018) | Send Message
     
    I don't think that's accurate. I think an immediate cut in government spending anywhere near that magnitude would cause a quick recession, however, and that would cause a downgrade.

     

    Government spending is spending. It's jobs, and money in peoples' pockets. Take that away quickly, as states are doing right now, and you get significant downdraft in the economy.
    26 Jul 2011, 08:57 PM Reply Like
  • MMMPARSLEY1
    , contributor
    Comments (67) | Send Message
     
    No, it's not spending. It's further debt which needs to end up being paid with additional debt or productive capacity gains that we are nowhere near achieving due to uncompetitiveness in wages in comparison to Asia.

     

    You can print all the money you want, but it will leak to Asia and you'll need to keep increasing the debt to pay for further government interventions until finally the currency is fully destroyed.
    26 Jul 2011, 09:50 PM Reply Like
  • Hoopono
    , contributor
    Comments (246) | Send Message
     
    I'd like the Reid plan more if instead of providing money to prop-up Fannie & Freddie it enabled the government to sell and transfer them to private industry. Thus getting the government out of a venture it clearly does not belong in, does not know how to manage, and is the most likely to get us back into serious trouble.
    26 Jul 2011, 06:36 PM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    its called control..they now control the housing market...just think how much power that enables them....make loans in Democratic districts only....loans only to political contributors...get the idea...just like Russia had..you were gifted an apartment there...you had to have the connections.
    26 Jul 2011, 06:59 PM Reply Like
  • Monngie
    , contributor
    Comments (928) | Send Message
     
    My, My, My, aren't you anticipatory!!!!
    26 Jul 2011, 09:46 PM Reply Like
  • wyostocks
    , contributor
    Comments (8088) | Send Message
     
    Seems everyone has a plan but Obama. Carney admitted today that the president has no plan; so much for leadership.
    26 Jul 2011, 07:03 PM Reply Like
  • psmith819
    , contributor
    Comments (535) | Send Message
     
    Obama is a bigger MORON than Bush.......that says something!!! HERMAN CAIN FOR PRESIDENT!!!!
    26 Jul 2011, 10:14 PM Reply Like
  • jackdeaton
    , contributor
    Comments (30) | Send Message
     
    I was under the impression that all that trillions of dollars that Obama gave to the banks was gonna fix all of this??????
    26 Jul 2011, 07:04 PM Reply Like
  • 7footMoose
    , contributor
    Comments (2266) | Send Message
     
    Nothing was "given" to the banks. Billions were "loaned" and most has been repaid with interest. Try to keep up with the history of the last four years.
    26 Jul 2011, 07:57 PM Reply Like
  • Bear Bait
    , contributor
    Comments (672) | Send Message
     
    What has the bail out got to do with the debt ceiling? I for one would like to know. The banks were doing fine the other gazillion times the debt ceiling was raised.
    26 Jul 2011, 07:59 PM Reply Like
  • Joe Morgan
    , contributor
    Comments (1500) | Send Message
     
    The funds were loaned to the banks as part of a broad package to prevent a liquidity crisis. Most of the banks paid back the loans and with interests to the treasury.

     

    The Fed also deserves the nod as they prevented the recession to accelerate into a full blown economic depression.

     

    Obama did some good things, especially his proposed payroll tax cut and the infrastructure spending. But he clearly made a big mistake with Obamacare and his anti business rhetoric.

     

    Obama presidency has been a mixed bag....
    26 Jul 2011, 10:36 PM Reply Like
  • neutrinoman
    , contributor
    Comments (700) | Send Message
     
    No one is noticing that this is it for Obama -- a debt deal, if it is done, will happen in spite of him, not because of him. The Dem Senators are worried about losing the Senate next year and apparently inching toward writing Obama off.
    26 Jul 2011, 08:09 PM Reply Like
  • 7footMoose
    , contributor
    Comments (2266) | Send Message
     
    OB is caught oh the horns of a dilemma. He is dammed if he does and dammed if he doesn't. He is just where the Tea Party wants him.
    26 Jul 2011, 08:16 PM Reply Like
  • Dana Blankenhorn
    , contributor
    Comments (6018) | Send Message
     
    I know Republicans would like to believe that, and they're being encouraged to it by Democratic discouragement over what is already being offered. But the cards aren't all on the table, and in the end the President -- of either party -- almost always wins these confrontations. Reagan did. Clinton did. Even GW Bush did.
    26 Jul 2011, 08:59 PM Reply Like
  • mike8599
    , contributor
    Comments (592) | Send Message
     
    Obama is being setup for one term - it is fun to watch
    26 Jul 2011, 09:25 PM Reply Like
  • Monngie
    , contributor
    Comments (928) | Send Message
     
    Yes, I can't wait to see Michele Bachman as President.

     

    Now that would be fun to watch. Especially if you don't give a S#!+ about this country.
    26 Jul 2011, 09:49 PM Reply Like
  • psmith819
    , contributor
    Comments (535) | Send Message
     
    I'll take Bachman over Obama any day!
    26 Jul 2011, 10:16 PM Reply Like
  • davidbdc
    , contributor
    Comments (3158) | Send Message
     
    Boehner sure as heck better get a deal passed in the House. If he's left holding no legislation and has to take what Reid passes over to him he'll look like a general with no army.

     

    Even if its not his plan that ultimately gets passed you can't go on national tv and say your going to pass a plan and then not pass one.

     

    He's either the Speaker of the House or he isn't. I don't care if he has to personally twist 100 members arms hard to get the votes - its time to deliver.
    27 Jul 2011, 01:16 AM Reply Like
  • jackdeaton
    , contributor
    Comments (30) | Send Message
     
    Obama is going to step in and fix this impasse. Not because he is smart by any stretch of the imagination either. very least is he will take the credit somehow
    29 Jul 2011, 02:41 AM Reply Like
  • Dana Blankenhorn
    , contributor
    Comments (6018) | Send Message
     
    If the Speaker can't pass any legislation the President has to follow the Constitution in absence of clear Congressional direction.

     

    This would be true for any situation, any President, any party.
    29 Jul 2011, 08:33 AM Reply Like
  • davidbdc
    , contributor
    Comments (3158) | Send Message
     
    How? Right now there is only one bill (cut, cap, balance) that has been passed by a house of congress. That bill was tabled in the Senate.

     

    A bill has to pass both houses of Congress - and assuming they don't the only thing the president can do is to give direction to the Treasury Secretary as to the folks that will get paid first - ie what are the priorities.

     

    What the president needs to do and frankly should have already done. Is to explain to the American people what those priorities will be and what is the practical impact (ie SS checks will be 75%, Medicare will only cover emergency procedures, whatever).

     

    Of course what the president should have done is to have taken the commissions plan this winter and used it as a blueprint for his budget rather than promoting a plan to spend 1.4 trillion more than we have. Unfortunately thats all water under the bridge along with the other poor choices the president has made. Its quite something that Bush and Obama have made this country yearn for Clinton!!
    29 Jul 2011, 12:35 PM Reply Like
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