GOP, Democrats ready rival emergency debt plans

[Omaha Steve]

Source: AP

By BEN FELLER and DAVID ESPO

WASHINGTON (AP) - With bipartisan debt-limit talks deadlocked, House Republicans and Senate Democrats readied rival emergency fallback plans Sunday in hopes of reassuring world financial markets the U.S. government will avoid an unprecedented default.

In a conference call, Speaker John Boehner summoned his conservative rank and file to swing behind a "new measure" that could clear both houses of Congress.

"It won't be 'Cut, Cap and Balance' as we passed it," he said, referring to a measure - killed in the Senate on Friday - that would have required spending cuts of an estimated $6 trillion as well as congressional approval of a constitutional balanced budget amendment for ratification by the states.

The new approach is "going to require some of you to make some sacrifices," he added, according to a person familiar with his remarks.

Read more: http://apnews.excite.com/article/20110724/D9OM9UCG1.html

---

In this photo provided by ABC News U.S. Treasury Secretary Timothy Geithner talks about the debt-ceiling on ABC's "This Week" Sunday, July 24, 2011, in Washington. Congressional leaders in Washington planned to work on a fiercely hot Sunday to try to reach a bipartisan accord to avert a debt-ceiling crisis on Aug. 2. (AP Photo/ABC, Fred Watkins)

[no_hypocrisy]

1. Harry Reid should have a last minute vote with a clean bill, up-or-down

and send a reciprocal bill to the House and say the rest is up to John Boehner.

[Samantha]

8. I think he should put it to a vote EVERDAY between now and August 2

and continue each day it fails to schedule another vote again for the next day. C_SPAN would probably televise the votes. It is not much, I now, but in this way, constituents could see who plans to vote for it and who votes against it. Once they realize their representative might held take down the U.S. economy, they will make their opinions known by contacting them (except for those who applaud, of course). What else can Reid do but make it apparent to everyone within range who will not support the lifting of the debt cap? At the very lease, he can try to publicly shame these people (those who are capable of feeling shame, which of course, is not all of them).

Sam

[no_hypocrisy]

9. YEAH

[gateley]

14. Not all that many constituents are following this that closely, I don't think.

Certainly not to the extent we are.

I use my family as an example -- like disparaging those in Washington who can't do a damn thing, but just assume it'll all work out and their lives won't be adversely affected.

And the news that the majority of people watch - their local and/or one of the Big Three networks, doesn't really SHOW what's going on.

[tinwi]

15. Sounds like a plan, better than giving into the terrorists

[Horse with no Name]

2. Spending cuts are up to $6 TRILLION now????

For fuck sake....what else are they giving away?

Let's see what's still left...Pell Grants, Food Stamps, unemployment (did you really think that would stay safe? That was sooo last 6 months ago!),utility assistance, women's health, more SS, more Medicare, more Medicaid, more cuts from the poor.

I fully expect to wake up to a "New Deal" that is in line with the social safety net in Mexico...oh wait...

[FreakinDJ]

3. Reaganomics in its Finest Hour

[Parker CA]

4. They said it won't be the bill they were pushing with $6T. Probably going to be something

in the $2.5T range.

[Horse with no Name]

5. And you believe them????

:scared: I don't.

[Ed Suspicious]

6. It's so not amusing watching them triangulate and float out these shit filled balloons.

[Fearless]

10. +10000

[harun]

13. Norquist has always wanted taxes solely for Military. Which will be getting

plenty of funds.

[asjr]

7. Is each side going to take a stage name or

just be the good guys against the bad guys? Will it be winner-take-all? Whatever it is I do not like my future being used for gambling. And I do not think any trophy will be given when the game is over.

[oldbanjo]

11. If they screw around a put this Country

in a Depression I think the Tea Party will turn on them. If it wasn't so bad for the Country it might be worth watching. I'm sure there would be a lot of job openings.

[harun]

12. Translation:

"This new approach is going to require 99% of you to make some sacrifices."

"To the top 1%, your donations can be sent via www.barackobama.com."

[No Elephants]

16. "Rival" plans? LOL!