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SarasotaRepub
07-31-2011, 05:50 PM
Washington (CNN) -- The Senate's top Democrat said Sunday that he has signed onto a debt ceiling deal with President Barack Obama and Republican leaders, pending approval of his caucus.

The statement from Senate Majority Leader Harry Reid, D-Nevada, was the first confirmation of a pending deal after legislative leaders dropped hints all day that an agreement was close.

"Senator Reid has signed off on the debt-ceiling agreement pending caucus approval," said the statement his office issued.

A senior Senate Democratic aide told CNN on condition of not being identified that while some grumbling is occurring among Democratic senators, they are likely to support the compromise and it "will get the votes."


LINK (http://www.cnn.com/2011/POLITICS/07/31/debt.talks/index.html?hpt=hp_t1)



OMG!!! Thank God!!!! :rolleyes::vomit:

djones520
07-31-2011, 08:44 PM
Ok, and what is this deal?

I really hope it's the left caving to the right. I'd love to see that DUmp implosion.

Wei Wu Wei
07-31-2011, 08:53 PM
Ok, and what is this deal?

I really hope it's the left caving to the right. I'd love to see that DUmp implosion.

You mean like it has been non-stop since 2009?

It's not surprising anymore...

Rockntractor
07-31-2011, 08:57 PM
You mean like it has been non-stop since 2009?

It's not surprising anymore...

I know what you're smoking but Jones better not be!:rolleyes:

Arroyo_Doble
07-31-2011, 09:33 PM
Ok, and what is this deal?

I really hope it's the left caving to the right. I'd love to see that DUmp implosion.

Both sides will claim victory and both extremes will cry, "cave!"

Pick your bandwagon and jump on.

Rockntractor
07-31-2011, 09:41 PM
Both sides will claim victory and both extremes will cry, "cave!"

Pick your bandwagon and jump on.

http://i686.photobucket.com/albums/vv230/upyourstruly/129107453978045842.jpg

Nubs
07-31-2011, 09:53 PM
I don't know which bandwagon to get on. I'm reading they agreed to $1 Trillion in cuts over 10 years. Me thinks it is time to eliminate any variable interest debt and put the rest in gold.

Rockntractor
07-31-2011, 09:57 PM
I don't know which bandwagon to get on. I'm reading they agreed to $1 Trillion in cuts over 10 years. Me thinks it is time to eliminate any variable interest debt and put the rest in gold.

Actually they are only cutting back one trillion of 8 trillion in increases, so I don't know how you view that.

Nubs
07-31-2011, 10:02 PM
Actually they are only cutting back one trillion of 8 trillion in increases, so I don't know how you view that.

I'm just looking at headlines/summaries at the moment. Need more time to digest.

Rockntractor
07-31-2011, 10:05 PM
I'm just looking at headlines/summaries at the moment. Need more time to digest.

I'm going to look the other way, everything will have to crash and burn before we ever have it fixed, they are drunk with borrowed money.

djones520
07-31-2011, 10:13 PM
1 trillion in cuts to be determined now, with another 1.5 trillion to be determined by a bipartisan committee by the end of the year. That for an agreement to raise the debt ceiling by an equivalent amount.

So basically we gave up a year and a half of spending for this, going by the budget of the last few years.

Madisonian
07-31-2011, 10:22 PM
So basically the 800 pound man is still eating the cheese fries, cupcakes, triple Whopper and whole apple pie but is going to cut back by drinking a Diet Coke.

Rockntractor
07-31-2011, 10:24 PM
So basically the 800 pound man is still eating the cheese fries, cupcakes, triple Whopper and whole apple pie but is going to cut back by drinking a Diet Coke.

Rather than three slices of cheese on that triple whopper it will be cut back to 2 also.

djones520
07-31-2011, 10:24 PM
So basically the 800 pound man is still eating the cheese fries, cupcakes, triple Whopper and whole apple pie but is going to cut back by drinking a Diet Coke.

I'd call 2.5 trillion a bit more then a diet coke, but it's far from what we really need.

Arroyo_Doble
07-31-2011, 10:25 PM
It is a nice, righteous bandwagon.

Rockntractor
07-31-2011, 10:29 PM
It is a nice, righteous bandwagon.

Shut the fuck up troll!

Madisonian
07-31-2011, 10:41 PM
I'd call 2.5 trillion a bit more then a diet coke, but it's far from what we really need.

We will have to see if it actual cuts in spnding or cuts in the amount of spending increases.

Either way, the debt will go marching onward and upward.
Fortunately, I will probably be ok at my age.
Unfortunately, at your age, you are screwed.

Rockntractor
07-31-2011, 10:43 PM
We will have to see if it actual cuts in spnding or cuts in the amount of spending increases.

Either way, the debt will go marching onward and upward.
Fortunately, I will probably be ok at my age.
Unfortunately, at your age, you are screwed.

That is the way I'm seeing it, people under thirty will be the ones to suffer from this behavior the most.

djones520
07-31-2011, 10:46 PM
We will have to see if it actual cuts in spnding or cuts in the amount of spending increases.

Either way, the debt will go marching onward and upward.
Fortunately, I will probably be ok at my age.
Unfortunately, at your age, you are screwed.

*shrugs* All the cancer in my family history, I may not even make it to your age. :p

Apocalypse
08-01-2011, 01:13 AM
Deal details

Under the framework deal, a $1 trillion increase in the debt-ceiling would be coupled with an immediate $1 trillion cut in discretionary spending.



Obama said these cuts would not happen so abruptly that they would be a drag on the economy.



A further increase in the debt ceiling that would last past 2012 would await the outcome of a special bipartisan Congressional committee tasked with coming up with additional deficit reduction before Thanksgiving that would be put before Congress for a vote.



If the second debt-reduction package is not passed, the deal would establish an automatic trigger of cuts to programs both Democrats and Republicans hold sacred.


So a Trillion now over the next 10 years (Guessing) and another trillion in '12 depending on a committee. Or automatic cuts (No specifics) on 'Programs'.

No tax increasses (Unless special bipartisan Congressional committee says we need them).

Not the best deal, and sounds a little like this was agreed upon a while ago.

I would have loved more, but I can live with it.... for now.

Rockntractor
08-01-2011, 01:32 AM
This has a bad smell.

No tax increasses (Unless special bipartisan Congressional committee says we need them)

RobJohnson
08-01-2011, 03:31 AM
This has a bad smell.

The entire bill has a very bad smell to me.

It would be great if the U.S. was a creditor nation like it once was and the fights were about how to spend the national surplus.

So they increase the debt limit by 2.3 trillion and only cut 1 trillion? We just went in debt another 1.3 trillion.

Why do I get the feeling when the details are released tomorrow we are all going to feel like we were fucked in the ass?

lacarnut
08-01-2011, 05:55 AM
The entire bill has a very bad smell to me.

It would be great if the U.S. was a creditor nation like it once was and the fights were about how to spend the national surplus.

So they increase the debt limit by 2.3 trillion and only cut 1 trillion? We just went in debt another 1.3 trillion.

Why do I get the feeling when the details are released tomorrow we are all going to feel like we were fucked in the ass?

This is a bad bill for sure. The debt increase is 2.8 trillion with spending cuts off in the future. Most of those cuts will probably be from the defense budget. Government is getting bigger rather than smaller. The Repubs will tout that taxes were not raised. Big deal.

Apocalypse
08-01-2011, 08:43 AM
Just read the NYT's article on this. And with how they put it, (The spittle flecked outraged piece.) must be a better bill then I thought.


To Escape Chaos, a Terrible Deal

Published: July 31, 2011

There is little to like about the tentative agreement between Congressional leaders and the White House except that it happened at all. The deal would avert a catastrophic government default, immediately and probably through the end of 2012. The rest of it is a nearly complete capitulation to the hostage-taking demands of Republican extremists. It will hurt programs for the middle class and poor, and hinder an economic recovery.


It is not yet set in stone, and there may still be time to make it better. But in the end, most Democrats will have no choice but to swallow their fury, accept the deal and, we hope, fight harder the next time....

....The next $1.5 trillion will be determined by a “supercommittee” of 12 lawmakers that could recommend revenues, but is unlikely to do so since half its members will be Republicans.

{Trigger Cuts} For Democrats, the penalty would include cuts to Medicare providers. The penalty for Republicans should have been new tax revenues, but of course they refused to consider that and got their way. Instead, their incentive will be trying to avoid large cuts in the military budget.

....There will be no second hostage-taking on the debt ceiling in a few months, as Speaker John Boehner and his band of radicals originally demanded. Democratic negotiators decided that the automatic cut system, as bad as it is, was less of a threat to the economy than another default crisis, and many are counting on future Congresses to undo its arbitrary butchering.

Sadly, in a political environment laced with lunacy, that calculation is probably correct. Some Republicans in the House were inviting a default, hoping that an economic earthquake would shake Washington and the Obama administration beyond recognition. Democrats were right to fear the effects of a default and the impact of a new recession on all Americans.



President Obama could have been more adamant in dealing with Republicans, perhaps threatening to use constitutional powers to ignore the debt ceiling if Congress abrogated its responsibility to raise it. But this episode demonstrates the effectiveness of extortion. Reasonable people are forced to give in to those willing to endanger the national interest.



Democrats can look forward to the expiration of the Bush tax cuts next year, and will have to make the case in the 2012 elections for new lawmakers who will undo the damage.


http://www.nytimes.com/2011/08/01/opinion/to-escape-chaos-a-terrible-debt-deal.html?_r=1&ref=politics

There is nothing but hate in that piece. NYT's must be exploding with hatred.

Wei Wu Wei
08-01-2011, 12:14 PM
Both sides will claim victory and both extremes will cry, "cave!"

Pick your bandwagon and jump on.

Been watching a lot of CNN lately? :rolleyes:


What is your assessment of the deal? Some people are calling this a compromise, but I don't see it, what does the left get out of this? Everything in the bill is what the right wing wanted, the far right members of the Republican party forced this bill and somehow everyone went along.

lacarnut
08-01-2011, 12:34 PM
Been watching a lot of CNN lately? :rolleyes:


What is your assessment of the deal? Some people are calling this a compromise, but I don't see it, what does the left get out of this? Everything in the bill is what the right wing wanted, the far right members of the Republican party forced this bill and somehow everyone went along.

You must have taken one of your stupid pills today. Most conservatives wanted deep spending cuts, tax cuts, and zero increase in the debt limit. The right wing got none of these. The compromise-rs will have to answer to the voters in 012.

Arroyo_Doble
08-01-2011, 12:35 PM
Been watching a lot of CNN lately? :rolleyes:


No. As a rule, I try to avoid cable news.


What is your assessment of the deal?

It is nebulous but it appears to be some hybrid of Boehner, McConnell, Reid, and agreements worked on in the Biden talks.


Some people are calling this a compromise, but I don't see it, what does the left get out of this?

Once it became clear that the Debt Ceiling was going to be used as leverage to get cuts in spending, the left was never going to get anything out of this except for least bad.


Everything in the bill is what the right wing wanted, the far right members of the Republican party forced this bill and somehow everyone went along.

The far right members of the Republican Party did not force this bill; the mainstream of the Republican Party did. And I think it could be argued a good portion of the Democratic Party as well. Remember, the clean bill vote in the House failed 318-97. That is a strong bipartisan rejection.

RobJohnson
08-02-2011, 01:03 AM
You must have taken one of your stupid pills today. Most conservatives wanted deep spending cuts, tax cuts, and zero increase in the debt limit. The right wing got none of these. The compromise-rs will have to answer to the voters in 012.

:toast:

lacarnut
08-02-2011, 01:56 AM
Most of the spending cuts will come from the military. In other words, reduction in troops will happen because you know that the big contractors will not feel much pain in these cuts. They have the best lobbyists that money can buy; the troops are shit out of luck. It also would not surprise me if benefits and VA facilities were not cut. A retired military officer was on Fox tonight stating that this is a disastrous bill for anyone in the military.

Lager
08-02-2011, 10:16 AM
Been watching a lot of CNN lately? :rolleyes:


What is your assessment of the deal? Some people are calling this a compromise, but I don't see it, what does the left get out of this? Everything in the bill is what the right wing wanted, the far right members of the Republican party forced this bill and somehow everyone went along.

What does the left get out of it? All these government programs that have base line budgeting will only increase their funding 3 percent instead of 6 percent next fiscal year. Both parties will crow about how much was "cut". They'll pat themselves on the back and the charade will go on as usual. Meanwhile the share of the public dependent on government for more and more of their basic needs will grow nicely.