Obama, Congressional Leaders Reach Debt Deal

[AnCap Dave]

Source

Washington –  The United States managed to reach a bipartisan deal to raise the debt ceiling and avoid the country defaulting on its bills on Aug. 2, after weeks of fruitless negotiations in Congress.

"The leaders of both parties, in both chambers, have reached an agreement that will reduce the deficit and avoid default - a default that would have had a devastating effect on our economy," President Barack Obama said Sunday

The private negotiations that the White House started Saturday with the leader of the Republican Senate minority, Mitch McConnell, became the key for reviving a process marked by partisan obstructionism.

The accord, announced Monday by McConnell, will raise the debt ceiling enough so that it will not need to be raised again until the end of 2012 after the presidential elections.

According to the Republican leader, the plan calls for a deficit reduction of $3 billion over the next 10 years, in two phases and with the guarantee that no taxes will be raised, at least in the first stage.

"The first part of this agreement will cut about $1 trillion in spending over the next 10 years - cuts that both parties had agreed to early on in this process," Obama said.

The second part of the deal "establishes a bipartisan committee of Congress to report back by November with a proposal to further reduce the deficit, which will then be put before the entire Congress for an up or down vote. In this stage, everything will be on the table," the president said.

The full session of the Senate ended Sunday still with no decision on the debt plan proposed by the Democratic majority leader of that chamber, Harry Reid, who was unable to put an end to the eternal wrangling over his measure and put to a vote.

However, that did not keep Reid from announcing soon afterwards that he will support the plan arising from the negotiations between the White House and McConnell, as long as the rest of the Senate Democrats agree to back the measure.

Sen. Reid is supporting the agreement on the debt ceiling in hopes that the Democratic caucus will approve it, the majority leader's spokesman, Adam Jentleson, said in a statement.

The new agreement, according to sources close to the negotiations, takes elements both from Reid's plan and from that of House Speaker John Boehner, and will produce savings of $917 billion over the next 10 years and will raise the debt ceiling by $900 billion in two phases before the end of the year.

After an immediate reduction of the deficit of around $1 trillion, a new bipartisan committee in Congress will guarantee at least another $1.5 trillion off the deficit, Politico reported.

"Now, is this the deal I would have preferred? No. I believe that we could have made the tough choices required - on entitlement reform and tax reform - right now, rather than through a special congressional committee process. But this compromise does make a serious down payment on the deficit reduction we need, and gives each party a strong incentive to get a balanced plan done before the end of the year," Obama said.

On Tuesday the time limit expires for raising the debt ceiling that was set by the Treasury Department, which has warned that the government will then have gone over its debt limit of $14.29 trillion and consequently would be left without sufficient funds to pay all of its obligations.

Idiots! IDIOTS I SAY!

We all knew it was coming though. The circus that they pulled was just that, a show to entertain the news media.

[MrBogosity]

Fixed:

Washington –  The United States managed to reach a bipartisan deal to saddle our children with higher debt payments and increase the chance the country will default on its bills on Aug. 2, after weeks of principled Congressmen trying to avoid this outcome.

"The leaders of both parties, in both chambers, have reached an agreement that will reduce the deficit and avoid default - a default that would have had a devastating effect on our economy," President Barack Obama lied Sunday.

The private negotiations that the White House started Saturday with the leader of the Republican Senate minority, Mitch McConnell, became the key for reviving a process marked by responsible and necessary opposition.

The accord, announced Monday by McConnell, will raise the debt ceiling enough so that it will just need to be raised again after a year and a half, further exacerbating the problem.

According to the Republican leader, the plan calls for a deficit increase of $3 billion less than what it would have been over the next 10 years, in two phases and with the empty promise that no taxes will be raised, at least in the first stage.

"The first part of this agreement will cut about $1 trillion in spending over the next 10 years - cuts that both parties had agreed to early on in this process," Obama spun, despite the fact that spending will still increase.

The second part of the deal "establishes a bipartisan committee of Congress to report back by November with a proposal to further reduce the deficit, which will then be put before the entire Congress for an up or down vote. In this stage, everything will be on the table," the president said, with "further reduce" apparently being synonymous with "keep increasing how we want."

The full session of the Senate ended Sunday still with no decision on the debt plan proposed by the Democratic majority leader of that chamber, Harry Reid, who was unable to put an end to the vigilant defense of the American taxpayers and put to a vote.

However, that did not keep Reid from announcing soon afterwards that he will support the plan arising from the negotiations between the White House and McConnell, as long as the rest of the Senate Democrats agree to back the measure.

Sen. Reid is supporting the agreement on the debt ceiling in hopes that the Democratic caucus will approve it, the majority leader's spokesman, Adam Jentleson, said in a statement.

The new agreement, according to sources close to the negotiations, takes elements both from Reid's plan and from that of House Speaker John Boehner, and will produce extra spending that is $917 billion less than what it would have been over the next 10 years and will raise the debt ceiling by $900 billion in two phases before the end of the year.

After an immediate reduction of the deficit of around $1 trillion, a new bipartisan committee in Congress will guarantee at least another $1.5 trillion off the deficit, Politico reported, but the debt itself will still grow, so this is meaningless tripe.

"Now, is this the deal I would have preferred? No. I believe that we could have made the tough choices required - on entitlement reform and tax reform - right now, rather than through a special congressional committee process. But this compromise does make a serious down payment on the deficit reduction we need, and gives each party a strong incentive to get a balanced plan done before the end of the year," Obama prevaricated.

On Tuesday the time limit expires for raising the debt ceiling that was set by the Treasury Department, which has warned that the government will then have gone over its debt limit of $14.29 trillion and consequently would be left without sufficient funds to pay all of its pet boondoggles.

[AnCap Dave]

Sounds about right.

Here is the the deal in full details.

You can download it as a PDF if you want as well.

[AnCap Dave]

OH FUCK YOU NEWS! FUCK YOU!

Apparently Gabbie Giffords showed up and they're using this as a means for celebration that the debt ceiling was raised. They're using a woman who was shot as a symbol of their achievement. This political circus is flat out disgusting at this point.

[AnCap Dave]

Well the names came in as far as who voted to raise the debt ceiling.

Source

Voting no were 95 Democrats and 66 Republicans.

X denotes those not voting.

There are 2 vacancies in the 435-member House.

ALABAMA

Democrats - Sewell, Y.

Republicans - Aderholt, Y; Bachus, Y; Bonner, Y; Brooks, N; Roby, N; Rogers, Y.

ALASKA

Republicans - Young, Y.

ARIZONA

Democrats - Giffords, Y; Grijalva, N; Pastor, N.

Republicans - Flake, N; Franks, N; Gosar, Y; Quayle, N; Schweikert, N.

ARKANSAS

Democrats - Ross, Y.

Republicans - Crawford, Y; Griffin, Y; Womack, Y.

CALIFORNIA

Democrats - Baca, X; Bass, Y; Becerra, N; Berman, Y; Capps, Y; Cardoza, N; Chu, N; Costa, Y; Davis, Y; Eshoo, Y; Farr, N; Filner, N; Garamendi, Y; Hahn, N; Honda, N; Lee, N; Lofgren, Zoe, N; Matsui, N; McNerney, N; Miller, George, N; Napolitano, N; Pelosi, Y; Richardson, N; Roybal-Allard, N; Sanchez, Linda T., N; Sanchez, Loretta, Y; Schiff, Y; Sherman, Y; Speier, Y; Stark, N; Thompson, Y; Waters, N; Waxman, N; Woolsey, N.

Republicans - Bilbray, Y; Bono Mack, Y; Calvert, Y; Campbell, Y; Denham, Y; Dreier, Y; Gallegly, Y; Herger, Y; Hunter, N; Issa, Y; Lewis, Y; Lungren, Daniel E., Y; McCarthy, Y; McClintock, N; McKeon, Y; Miller, Gary, Y; Nunes, N; Rohrabacher, Y; Royce, Y.

COLORADO

Democrats - DeGette, N; Perlmutter, Y; Polis, Y.

Republicans - Coffman, Y; Gardner, Y; Lamborn, N; Tipton, N.

CONNECTICUT

Democrats - Courtney, Y; DeLauro, N; Himes, Y; Larson, N; Murphy, N.

DELAWARE

Democrats - Carney, Y.

FLORIDA

Democrats - Brown, N; Castor, Y; Deutch, Y; Hastings, N; Wasserman Schultz, Y; Wilson, Y.

Republicans - Adams, Y; Bilirakis, Y; Buchanan, Y; Crenshaw, Y; Diaz-Balart, Y; Mack, N; Mica, Y; Miller, Y; Nugent, Y; Posey, N; Rivera, Y; Rooney, Y; Ros-Lehtinen, Y; Ross, N; Southerland, N; Stearns, N; Webster, Y; West, Y; Young, Y.

GEORGIA

Democrats - Barrow, Y; Bishop, Y; Johnson, Y; Lewis, N; Scott, David, Y.

Republicans - Broun, N; Gingrey, N; Graves, N; Kingston, N; Price, Y; Scott, Austin, N; Westmoreland, N; Woodall, Y.

HAWAII

Democrats - Hanabusa, Y; Hirono, Y.

IDAHO

Republicans - Labrador, N; Simpson, Y.

ILLINOIS

Democrats - Costello, Y; Davis, Y; Gutierrez, Y; Jackson, N; Lipinski, Y; Quigley, Y; Rush, Y; Schakowsky, N.

Republicans - Biggert, Y; Dold, Y; Hultgren, N; Johnson, N; Kinzinger, Y; Manzullo, Y; Roskam, Y; Schilling, Y; Schock, Y; Shimkus, Y; Walsh, N.

INDIANA

Democrats - Carson, N; Donnelly, Y; Visclosky, N.

Republicans - Bucshon, Y; Burton, N; Pence, Y; Rokita, N; Stutzman, N; Young, Y.

IOWA

Democrats - Boswell, N; Braley, N; Loebsack, N.

Republicans - King, N; Latham, N.

KANSAS

Republicans - Huelskamp, N; Jenkins, Y; Pompeo, Y; Yoder, N.

KENTUCKY

Democrats - Chandler, Y; Yarmuth, N.

Republicans - Davis, N; Guthrie, Y; Rogers, Y; Whitfield, Y.

LOUISIANA

Democrats - Richmond, Y.

Republicans - Alexander, Y; Boustany, Y; Cassidy, Y; Fleming, N; Landry, N; Scalise, N.

MAINE

Democrats - Michaud, Y; Pingree, N.

MARYLAND

Democrats - Cummings, N; Edwards, N; Hoyer, Y; Ruppersberger, Y; Sarbanes, N; Van Hollen, Y.

Republicans - Bartlett, Y; Harris, N.

MASSACHUSETTS

Democrats - Capuano, N; Frank, N; Keating, Y; Lynch, Y; Markey, N; McGovern, N; Neal, N; Olver, N; Tierney, N; Tsongas, Y.

MICHIGAN

Democrats - Clarke, N; Conyers, N; Dingell, Y; Kildee, Y; Levin, Y; Peters, N.

Republicans - Amash, N; Benishek, Y; Camp, Y; Huizenga, Y; McCotter, Y; Miller, Y; Rogers, Y; Upton, Y; Walberg, Y.

MINNESOTA

Democrats - Ellison, N; McCollum, N; Peterson, Y; Walz, Y.

Republicans - Bachmann, N; Cravaack, N; Kline, Y; Paulsen, Y.

MISSISSIPPI

Democrats - Thompson, N.

Republicans - Harper, Y; Nunnelee, Y; Palazzo, Y.

MISSOURI

Democrats - Carnahan, Y; Clay, Y; Cleaver, N.

Republicans - Akin, N; Emerson, Y; Graves, Y; Hartzler, N; Long, Y; Luetkemeyer, Y.

MONTANA

Republicans - Rehberg, N.

NEBRASKA

Republicans - Fortenberry, Y; Smith, Y; Terry, Y.

NEVADA

Democrats - Berkley, Y.

Republicans - Heck, Y.

NEW HAMPSHIRE

Republicans - Bass, Y; Guinta, Y.

NEW JERSEY

Democrats - Andrews, Y; Holt, N; Pallone, N; Pascrell, Y; Payne, N; Rothman, Y; Sires, Y.

Republicans - Frelinghuysen, Y; Garrett, N; Lance, Y; LoBiondo, Y; Runyan, Y; Smith, Y.

NEW MEXICO

Democrats - Heinrich, Y; Lujan, N.

Republicans - Pearce, N.

NEW YORK

Democrats - Ackerman, N; Bishop, Y; Clarke, N; Crowley, N; Engel, N; Higgins, Y; Hinchey, X; Hochul, Y; Israel, Y; Lowey, Y; Maloney, N; McCarthy, Y; Meeks, Y; Nadler, N; Owens, Y; Rangel, N; Serrano, N; Slaughter, N; Tonko, N; Towns, N; Velazquez, N.

Republicans - Buerkle, N; Gibson, Y; Grimm, Y; Hanna, Y; Hayworth, Y; King, Y; Reed, Y.

NORTH CAROLINA

Democrats - Butterfield, N; Kissell, N; McIntyre, N; Miller, N; Price, N; Shuler, Y; Watt, N.

Republicans - Coble, Y; Ellmers, Y; Foxx, Y; Jones, N; McHenry, Y; Myrick, Y.

NORTH DAKOTA

Republicans - Berg, Y.

OHIO

Democrats - Fudge, N; Kaptur, N; Kucinich, N; Ryan, N; Sutton, N.

Republicans - Austria, Y; Boehner, Y; Chabot, Y; Gibbs, Y; Johnson, Y; Jordan, N; LaTourette, Y; Latta, Y; Renacci, Y; Schmidt, Y; Stivers, Y; Tiberi, Y; Turner, N.

OKLAHOMA

Democrats - Boren, Y.

Republicans - Cole, Y; Lankford, Y; Lucas, Y; Sullivan, Y.

OREGON

Democrats - Blumenauer, N; DeFazio, N; Schrader, Y; Wu, Y.

Republicans - Walden, Y.

PENNSYLVANIA

Democrats - Altmire, Y; Brady, Y; Critz, Y; Doyle, N; Fattah, Y; Holden, Y; Schwartz, Y.

Republicans - Barletta, Y; Dent, Y; Fitzpatrick, Y; Gerlach, Y; Kelly, Y; Marino, Y; Meehan, Y; Murphy, Y; Pitts, Y; Platts, Y; Shuster, Y; Thompson, Y.

RHODE ISLAND

Democrats - Cicilline, Y; Langevin, Y.

SOUTH CAROLINA

Democrats - Clyburn, Y.

Republicans - Duncan, N; Gowdy, N; Mulvaney, N; Scott, N; Wilson, N.

SOUTH DAKOTA

Republicans - Noem, Y.

TENNESSEE

Democrats - Cohen, N; Cooper, Y.

Republicans - Black, Y; Blackburn, Y; DesJarlais, N; Duncan, Y; Fincher, Y; Fleischmann, N; Roe, Y.

TEXAS

Democrats - Cuellar, Y; Doggett, Y; Gonzalez, N; Green, Al, N; Green, Gene, Y; Hinojosa, Y; Jackson Lee, Y; Johnson, E. B., Y; Reyes, N.

Republicans - Barton, Y; Brady, Y; Burgess, Y; Canseco, Y; Carter, Y; Conaway, Y; Culberson, Y; Farenthold, Y; Flores, Y; Gohmert, N; Granger, Y; Hall, N; Hensarling, Y; Johnson, Sam, Y; Marchant, Y; McCaul, Y; Neugebauer, N; Olson, Y; Paul, N; Poe, N; Sessions, Y; Smith, Y; Thornberry, Y.

UTAH

Democrats - Matheson, Y.

Republicans - Bishop, N; Chaffetz, N.

VERMONT

Democrats - Welch, N.

VIRGINIA

Democrats - Connolly, Y; Moran, N; Scott, N.

Republicans - Cantor, Y; Forbes, N; Goodlatte, Y; Griffith, N; Hurt, Y; Rigell, Y; Wittman, Y; Wolf, Y.

WASHINGTON

Democrats - Dicks, Y; Inslee, Y; Larsen, Y; McDermott, N; Smith, N.

Republicans - Hastings, Y; Herrera Beutler, Y; McMorris Rodgers, Y; Reichert, Y.

WEST VIRGINIA

Democrats - Rahall, Y.

Republicans - Capito, Y; McKinley, Y.

WISCONSIN

Democrats - Baldwin, N; Kind, Y; Moore, X.

Republicans - Duffy, Y; Petri, Y; Ribble, Y; Ryan, Y; Sensenbrenner, Y.

WYOMING

Republicans - Lummis, Y.

[MrBogosity]

Am I reading that right? Many Democrats voting NOT to raise the debt ceiling with many Republicans voting TO raise it?

[AnCap Dave]

Am I reading that right? Many Democrats voting NOT to raise the debt ceiling with many Republicans voting TO raise it?

Well if there is a Y after the comma after their name, then yeah.

[MrBogosity]

I was mostly looking at my home state:

NORTH CAROLINA

Democrats - Butterfield, N; Kissell, N; McIntyre, N; Miller, N; Price, N; Shuler, Y; Watt, N.

Republicans - Coble, Y; Ellmers, Y; Foxx, Y; Jones, N; McHenry, Y; Myrick, Y.

Only one of seven Democrats voted for it, only one of 6 Republicans voted against it!

So much for the party of smaller government...

[AnCap Dave]

I was mostly looking at my home state:

Only one of seven Democrats voted for it, only one of 6 Republicans voted against it!

So much for the party of smaller government...

To be honest, I was kind of shocked to see some of the Connecticut reps not vote for it. Though they also claimed that Republicans were the ones who held the economy hostage unless their demands were met. You know, because Obama didn't go on television and state that he would hold back social security checks if the debt ceiling wasn't raised.

[AnCap Dave]

[yt]KOfwyh7Jx34[/yt]

Apparently, the retired WRESTLING GAWD John Bradshaw Layfield decided to toss his hat into the national debt debate.

[FSBlueApocalypse]

I'm shocked at some of the people who voted no on this.