Silver Bullet? Reid, McConnell Hatch Plan To Avoid Default

[brooklynite]

Source: Talking Points Memo

Senate Minority Leader Mitch McConnell (R-KY) made clear that he wants to avoid a catastrophic debt default when he proposed a solution that would allow President Obama to raise the debt limit, but put a large political onus on the Democratic party.

Now, he and Senate Majority Leader Harry Reid (D-NV) are privately crafting a modified version of that plan, which would ease up on the politics, but include some of the spending cuts bipartisan negotiators have identified.

...snip...

While most members and observers have been focusing on the debt talks at the White House, a striking number of principal negotiators have said they could accept the McConnell's plan as a way out.

Reid has praised the plan, the White House has suggested it would reluctantly accept it, and House Minority Leader Nancy Pelosi (D-CA) said "What Leader McConnell has put on the table recognizes that we must pass. So it has that merit in that it says what are we talking about here: We have to pass this. And let's talk about the others things that are going on."

Read more: http://tpmdc.talkingpointsmemo.com/2011/07/silver-bullet-reid-mcconnell-hatch-plan-to-avoid-default.php?ref=fpblg

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What is missing from this story is any reference to the House Republicans. If Boehner was willing to accept this deal, Cantor certainly wouldn't, and I can't believe the House Republican Freshmen would vote for it.

[denverbill]

1. I wonder if the leadership will tell the freshment to vote 'present'.

That way they would have to vote for it and it could pass without Republican support.

[Laf.La.Dem.]

2. Is this more "pulling the football"?

Lucy pulling the football from Charlie Brown:mad:

Will the House Republicans "change their mind" the last minute?

[aquart]

10. No, it's more like the Chamber of Commerce won't donate if you don't.

[applegrove]

3. So Obama will look like more of a debt cutter than the GOP. I can live with that.

[Lone_Star_Dem]

4. What cuts?

That's the real question here. What are they willing to cut in the name of bipartisanship?

Pelosi and Reid had best be very careful not to hand over core planks of our platform as a closing act in this little drama.

[Liberalynn]

12. I agree. What cuts?

SS. and Medicare better be off the table. They aren't giving on the tax loopholes, so why should we give them anything either?

[Hell Hath No Fury]

18. Until we know --

this "deal" is a total question mark.

[Ikonoklast]

5. Seems like Boehner is trying to be invisible.

Boehner is going to let McConnell take the world of shit coming from the Teabaggers on this, while he ducks.

Political cowardice at its finest.

[chill_wind]

6. Not surprising.

Bloomberg was foreshadowing this somewhat yesterday:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=103x613420#top

It's pretty clear Obama was very livid yesterday that they dropped this flaming hot dog-doo of "onus" in his lap. And I really seriously doubt he's going to hold out and let it "bring down his presidency."

"While most members and observers have been focusing on the debt talks at the White House, a striking number of principal negotiators have said they could accept the McConnell's plan as a way out."

[damntexdem]

7. Yeah, if the House Repukes don't go along, there will be no raised debt ceiling.

The 14th Amendment is looking more and more important each day, despite the different readings of what it means.

[reformist2]

8. Exactly. I think the media is trying to make it look like things are under control

by giving McConnell's hare-brained plan any credibility.

[aquart]

9. They are adding face-saving measures.

After which someone will explain things to the posturing new idiots.

[julian09]

11. If they were leaders in the House instead of Senate

it might mean something. The minority "Tea Party" section of the Gop party is running the republican party, not Boehner. Cantor is kissing up to tea party to get Boners job. I think the 14th amendment, may be the solution, it's there constitutionally, use it.

[florida08]

13. those cuts better be defense and oil subsidies

[No Elephants]

14. Rethugs recognize their shutting down government helped Bubba get re-elected.

Rethugs don't want to help re-elect Obama. Ergo, they do not want to shut down government. Ergo, they will raise the debt ceiling, no matter what. So, why are we letting them blackmail us anyway?

[ProfessionalLeftist]

15. Good question: why did Obama cave before negotiations even started re: Medicare and SS

:wtf:

[brooklynite]

20. Please describe EXACTLY how Obama "caved"...

[ProfessionalLeftist]

21. Simple: He offered cuts to vital social programs BEFORE Republicans offered ANYTHING

(and he should not have offered cuts to those programs at all - ever)

[Doctor_J]

16. Sounds like, "Get ready to bend over and brace yourself"

[earcandle]

17. The governments job is to levy (legally raise) taxes (revenues) to pay our debts.

Revenue is like sales in business. You have to raise revenue to pay cost of goods and overhead.

The governments job is to levy taxes (revenues) to pay our debts.

I don't understand why they are not simply raising the taxes.

This is a numbing argument. I took government accounting.. our leaders are charged with levying taxes to pay our debts. If they have no courage to do it, then they need to be impeached. If they refuse to do it, they are treasonous and need to be not only recalled, they need to go to jail.

People, stop being duped. Tax raising is required. The share of taxes you will pay is relative too the profit you make. If there are no profits, you pay no taxes.

Spending is legally mandated to provide services to the American people with the money we (individuals and businesses) pay for taxes, licenses, and fees. Some spending is allowed because of grants and contributions made by organizations that want something done for a restricted reason.

The costs to run a country is based on the ability to raise revenues.

If the tax cuts are returned to our coffers, and the loopholes are closed, then the debt can be paid in one no time.

NOT to raise taxes is stupid. Are we stupid?

And cuts are NOT a raise in taxes.

This would be putting back into the coffers what has been missing for the last ten years.

If we remove cuts and loopholes and raise taxes fairly, we will all be prosperous.

I am tired of government by belief. Think and act for a change, or leave. Do your job.

http://www.earcandleproductions.com/Get_Out.swf

[MadMaddie]

19. The only silver bullet is the solution that should have been

implemented in the first place, the very solution that many of the exisitng Republicans have voted for every year and that is a "Clean Bill". That's it and that's all. The budget cutting should have never been included with the increase of the Debt Ceiling. Fuck the Republicans.