The President's Speech: The Nation is Stuck in Congressional Stalemate

[The Straight Story]

The President's Speech: The Nation is Stuck in Congressional Stalemate


Democratic officials say in his speech to the nation this evening, the president will point out that House Republicans are pursuing a plan that likely cannot pass the Senate, Senate Democrats are pursuing a plan that likely cannot pass the House (and may not even make it through the Senate). The nation is stuck in a congressional stalemate, he will say, and now we need to come together to avoid default.

“We have to put a premium on compromise,” the Democratic official said.

Mr. Obama opposes the House Republican plan, which will raise the debt ceiling by $1 trillion or so, meaning this debate would need to be revisited in Spring 2012. The plan, put forward by House Speaker John Boehner, R-Ohio, today, will establish a 12-member bipartisan super-committee of members of the House and Senate to come up with $1.8 trillion in deficit reduction.

If they fail to pass something not only out of committee but as legislation, the House and Senate would be required to come up with $1.8 trillion in deficit reduction. If it does so successfully, the president would automatically be able to raise the debt ceiling by $1.6 trillion.

http://blogs.abcnews.com/politicalpunch/2011/07/the-presidents-speech-the-nation-is-stuck-in-congressional-stalemate.html

[KoKo]

1. Oday.................I'll keep that in my files...

[Cleita]

2. Whatever happened to all those executive orders that

GWB was so fond of to push through his agenda? It seems this calls for such a tactic.

[MannyGoldstein]

3. "But make no mistake: we can all agree to steal your Social Security"

"I've asked Jamie Dimon and Lloyd Blankfein to discuss the solution to this problem with me, over foie gras and a fine sauterne."