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Boehner Bill Clears Key Hurdle Ahead of Showdown Vote on Debt Limit
Published July 28, 2011
| FoxNews.com
AP
House Speaker John Boehner takes part in a news conference on Capitol Hill in Washington July 28.
Washington – House Speaker John Boehner's deficit-reduction bill was headed for a showdown vote Thursday evening after clearing a key procedural hurdle, as Democrats warned the speaker that he was wasting his time.
Boehner, vowing to deliver the bill to the Senate, worked to corral the support of reluctant conservatives ahead of a final vote Thursday evening. The House first approved what's known as the "rule" for the bill in a 238-186 vote, in a boost of confidence for the speaker.
"Let's pass this bill and end this crisis," Boehner said at a press conference with other party heads.
Related StoriesThe Card Reality: Credit Downgrade Will Cost YouAEHQ Blog: The Hitchhiker's Guide to Thursday in the House of RepresentativesAEHQ Blog: How Far Will Obama Go in Debt Ceiling Debate?Downgrade Day: What It Will Look LikeRelated Video
Boehner Plan Picking Up Steam in the House?
Speaker updates proposal, gains support
Related Video
Why a Debt Deal Can't Get Done
Talking Points: 7/27
But with the vote expected to be very close, [COLOR=blue !important][COLOR=blue !important]Minority [COLOR=blue !important]Leader [COLOR=blue !important]Nancy [/COLOR][COLOR=blue !important]Pelosi[/COLOR][/COLOR][/COLOR] and other Democrats worked to psych out the GOP leadership, claiming the Boehner bill was doomed to failure and that he was risking economic calamity just to score political points.
Lawmakers spoke in epic terms as they set the scene for debate Thursday, with the nation's borrowing power, the economy and everybody's interest rates in the balance.
Pelosi said Democrats were trying to "save the world from the Republican budget" and "save life on this planet as we know it." White House Press Secretary Jay Carney and Senate Majority [COLOR=blue !important][COLOR=blue !important]Leader [COLOR=blue !important]Harry [/COLOR][COLOR=blue !important]Reid[/COLOR][/COLOR][/COLOR] insisted the Boehner bill would die in the Senate.
However, the Senate is expected to act on the Boehner bill should it pass. Democratic aides told Fox News that Boehner's bill is actually the best vehicle for getting a debt-cap bill to the president's desk provided changes are made to it on the Senate side -- Reid could prime the bill for those changes Thursday night.
Even if something along the lines of Boehner's bill passes, that doesn't necessarily end the current crisis. Congress might lift the debt ceiling -- something the administration says must happen by Aug. 2 to avoid the possibility of default -- but the U.S. could still be at risk of losing its AAA credit rating if Congress does not do enough to address the deficit. A Standard & Poor's official suggested as much Thursday, saying a $4 trillion deficit-reduction package -- which is not on the table at present -- would be a "good down payment."
But Republicans showed increasing confidence with their proposal in its current form.
About two dozen House Republican freshmen voiced support for the Boehner bill Thursday morning.
A House GOP leadership aide said that the Boehner bill, which the aide described as the "Boehner compromise," will pass, leaving Reid and President Obama with only two other options -- approving the more severe deficit-reduction bill the House has already passed or missing the Aug. 2 deadline.
In addition, Reid still has a bill on the Senate side, which Republicans have derided as a "blank check" for the administration. Aside from that, Carney continued to push for a compromise between two parties in the next few days.
But the speaker has worked with uncharacteristic toughness over the past two days to present his bill as the only viable option.
After facing a mutiny on Tuesday from conservative lawmakers concerned his bill does not go far enough in cutting spending and balancing the budget in the future, Boehner has tried to polish the package and rally his caucus behind him.
At a closed-door session Wednesday, Boehner exhorted his colleagues to "get your ass in line" behind his bill. Boehner needs 216 votes to pass his bill and cannot afford to lose many Republicans.
Ideally, Boehner wants the House to approve the bill and virtually force the Senate to follow suit.
Reid says the GOP bill is dead on arrival in his chamber. Every Democrat in the Senate wrote a letter Wednesday saying they would not support it.
However, Reid could attach changes to Boehner's bill if it seems to be the only option, triggering some last-minute arm-twisting on both sides.
The new measure on the House side depends on caps on agency budgets to cut more than $900 billion from the deficit over the coming decade while permitting a commensurate increase in the nation's borrowing to allow the government to pay its bills. It would provide for another debt-ceiling vote next year if Congress can find another $1.8 trillion in deficit reduction.
The White House threatened a veto, saying the bill did not meet Obama's demand for an increase in the debt limit large enough to prevent a rerun of the current crisis next year, in the heat of the 2012 election campaign.
Instead, Obama supports the alternative drafted by Reid that contains comparable cuts to agency operating budgets but also claims savings from low-ball estimates of war costs. Reid's plan would provide a record-breaking $2.7 trillion in additional borrowing authority, enough to tide the government over through 2012. Reid, however, is plainly short of the votes needed to overcome a [COLOR=blue !important][COLOR=blue !important]GOP [COLOR=blue !important]filibuster[/COLOR][/COLOR][/COLOR].
As the House prepared to vote Thursday, investor worries that a dysfunctional Congress might remain gridlocked sent stocks plunging. The Dow Jones industrial average dropped almost 200 points Wednesday, on top of a 92-point drop the day before.
While Boehner holds out hope that the Senate will pass his measure, there still is the possibility that negotiators can come up with a compromise.
In fact, Boehner's plan has enough in common with Reid's -- including the establishment of a special congressional panel to recommend additional spending cuts this fall -- that Reid hinted a compromise could be easy to snap together.
"Magic things can happen here in Congress in a very short period of time under the right circumstances," Reid told reporters.
Unless Congress acts by Tuesday, administration officials say, the government will not be able to pay all its bills. They include $23 billion in Social Security benefits due Aug. 3, an $87 billion payment to investors to redeem maturing Treasury securities and more than $30 billion in interest payments that come due Aug. 15. And other officials warn that a default could prove catastrophic for an economy still recovering from the worst recession in decades. But some skeptics, including conservative Republicans like Sen. Pat Toomey of Pennsylvania, say Geithner can manage Treasury's cash flow to avoid a catastrophe if Congress fails to act.
[COLOR=blue !important][COLOR=blue !important]House [COLOR=blue !important]Republicans[/COLOR][/COLOR][/COLOR] tweaked their measure Wednesday to enhance its prospects of passage after a worse-than-expected cost estimate from congressional budget analysts on Tuesday. The changes were modest, but under arcane budget conventions, they brought projected savings for 2012 to $22 billion, part of a 10-year cut of $917 billion. That would trigger a $900 billion increase in the debt limit.
The Associated Press contributed to this report.
Read more: Boehner Bill Clears Key Hurdle Ahead of Showdown Vote on Debt Limit - FoxNews.com[/COLOR]
Published July 28, 2011
| FoxNews.com
AP
House Speaker John Boehner takes part in a news conference on Capitol Hill in Washington July 28.
Washington – House Speaker John Boehner's deficit-reduction bill was headed for a showdown vote Thursday evening after clearing a key procedural hurdle, as Democrats warned the speaker that he was wasting his time.
Boehner, vowing to deliver the bill to the Senate, worked to corral the support of reluctant conservatives ahead of a final vote Thursday evening. The House first approved what's known as the "rule" for the bill in a 238-186 vote, in a boost of confidence for the speaker.
"Let's pass this bill and end this crisis," Boehner said at a press conference with other party heads.
Related StoriesThe Card Reality: Credit Downgrade Will Cost YouAEHQ Blog: The Hitchhiker's Guide to Thursday in the House of RepresentativesAEHQ Blog: How Far Will Obama Go in Debt Ceiling Debate?Downgrade Day: What It Will Look LikeRelated Video
Boehner Plan Picking Up Steam in the House?
Speaker updates proposal, gains support
Related Video
Why a Debt Deal Can't Get Done
Talking Points: 7/27
But with the vote expected to be very close, [COLOR=blue !important][COLOR=blue !important]Minority [COLOR=blue !important]Leader [COLOR=blue !important]Nancy [/COLOR][COLOR=blue !important]Pelosi[/COLOR][/COLOR][/COLOR] and other Democrats worked to psych out the GOP leadership, claiming the Boehner bill was doomed to failure and that he was risking economic calamity just to score political points.
Lawmakers spoke in epic terms as they set the scene for debate Thursday, with the nation's borrowing power, the economy and everybody's interest rates in the balance.
Pelosi said Democrats were trying to "save the world from the Republican budget" and "save life on this planet as we know it." White House Press Secretary Jay Carney and Senate Majority [COLOR=blue !important][COLOR=blue !important]Leader [COLOR=blue !important]Harry [/COLOR][COLOR=blue !important]Reid[/COLOR][/COLOR][/COLOR] insisted the Boehner bill would die in the Senate.
However, the Senate is expected to act on the Boehner bill should it pass. Democratic aides told Fox News that Boehner's bill is actually the best vehicle for getting a debt-cap bill to the president's desk provided changes are made to it on the Senate side -- Reid could prime the bill for those changes Thursday night.
Even if something along the lines of Boehner's bill passes, that doesn't necessarily end the current crisis. Congress might lift the debt ceiling -- something the administration says must happen by Aug. 2 to avoid the possibility of default -- but the U.S. could still be at risk of losing its AAA credit rating if Congress does not do enough to address the deficit. A Standard & Poor's official suggested as much Thursday, saying a $4 trillion deficit-reduction package -- which is not on the table at present -- would be a "good down payment."
But Republicans showed increasing confidence with their proposal in its current form.
About two dozen House Republican freshmen voiced support for the Boehner bill Thursday morning.
A House GOP leadership aide said that the Boehner bill, which the aide described as the "Boehner compromise," will pass, leaving Reid and President Obama with only two other options -- approving the more severe deficit-reduction bill the House has already passed or missing the Aug. 2 deadline.
In addition, Reid still has a bill on the Senate side, which Republicans have derided as a "blank check" for the administration. Aside from that, Carney continued to push for a compromise between two parties in the next few days.
But the speaker has worked with uncharacteristic toughness over the past two days to present his bill as the only viable option.
After facing a mutiny on Tuesday from conservative lawmakers concerned his bill does not go far enough in cutting spending and balancing the budget in the future, Boehner has tried to polish the package and rally his caucus behind him.
At a closed-door session Wednesday, Boehner exhorted his colleagues to "get your ass in line" behind his bill. Boehner needs 216 votes to pass his bill and cannot afford to lose many Republicans.
Ideally, Boehner wants the House to approve the bill and virtually force the Senate to follow suit.
Reid says the GOP bill is dead on arrival in his chamber. Every Democrat in the Senate wrote a letter Wednesday saying they would not support it.
However, Reid could attach changes to Boehner's bill if it seems to be the only option, triggering some last-minute arm-twisting on both sides.
The new measure on the House side depends on caps on agency budgets to cut more than $900 billion from the deficit over the coming decade while permitting a commensurate increase in the nation's borrowing to allow the government to pay its bills. It would provide for another debt-ceiling vote next year if Congress can find another $1.8 trillion in deficit reduction.
The White House threatened a veto, saying the bill did not meet Obama's demand for an increase in the debt limit large enough to prevent a rerun of the current crisis next year, in the heat of the 2012 election campaign.
Instead, Obama supports the alternative drafted by Reid that contains comparable cuts to agency operating budgets but also claims savings from low-ball estimates of war costs. Reid's plan would provide a record-breaking $2.7 trillion in additional borrowing authority, enough to tide the government over through 2012. Reid, however, is plainly short of the votes needed to overcome a [COLOR=blue !important][COLOR=blue !important]GOP [COLOR=blue !important]filibuster[/COLOR][/COLOR][/COLOR].
As the House prepared to vote Thursday, investor worries that a dysfunctional Congress might remain gridlocked sent stocks plunging. The Dow Jones industrial average dropped almost 200 points Wednesday, on top of a 92-point drop the day before.
While Boehner holds out hope that the Senate will pass his measure, there still is the possibility that negotiators can come up with a compromise.
In fact, Boehner's plan has enough in common with Reid's -- including the establishment of a special congressional panel to recommend additional spending cuts this fall -- that Reid hinted a compromise could be easy to snap together.
"Magic things can happen here in Congress in a very short period of time under the right circumstances," Reid told reporters.
Unless Congress acts by Tuesday, administration officials say, the government will not be able to pay all its bills. They include $23 billion in Social Security benefits due Aug. 3, an $87 billion payment to investors to redeem maturing Treasury securities and more than $30 billion in interest payments that come due Aug. 15. And other officials warn that a default could prove catastrophic for an economy still recovering from the worst recession in decades. But some skeptics, including conservative Republicans like Sen. Pat Toomey of Pennsylvania, say Geithner can manage Treasury's cash flow to avoid a catastrophe if Congress fails to act.
[COLOR=blue !important][COLOR=blue !important]House [COLOR=blue !important]Republicans[/COLOR][/COLOR][/COLOR] tweaked their measure Wednesday to enhance its prospects of passage after a worse-than-expected cost estimate from congressional budget analysts on Tuesday. The changes were modest, but under arcane budget conventions, they brought projected savings for 2012 to $22 billion, part of a 10-year cut of $917 billion. That would trigger a $900 billion increase in the debt limit.
The Associated Press contributed to this report.
Read more: Boehner Bill Clears Key Hurdle Ahead of Showdown Vote on Debt Limit - FoxNews.com[/COLOR]
big_boom
Forumer storico
Nessun accordo, tutto sospeso. I repubblicani litigano fra di loro.
A livello politico sembra che stiano emulando le nostre gesta.
Paura!
i politici sono dei comici messi li per distrarre il popolino, mentre loro fanno i veri affari
MARCO12
Forumer storico
guardate che gli americani sono tutti daccordo fra di loro...fanno finta di litigare...perchè vogliono far scendere il piu possibile il prezzo della loro carta straccia di bond....e la cancelliera che è collegata via telefono con obama....ha fatto vendere anche alla sua banca dia bond che btp....si scenderà parecchio in pochi gg....hanno fatto uscire pinco da tutto x non far perdere le pensioni americane e poi quando gli darà ordine compreranno di nuovo i loro bond come la grecia a prezzi 50% in meno e si risistemerà tutto ma con l'america con 50% in meno di debito.....semplice....unica cosa vedere se i cinesi saranno cosi coglioni da svendere in parte tutto al 50%....
okkio si scende in super gap down ....
loro hanno le banche che emettono i rating come vogliono loro e fanno scendere o salire a loro piacimento prima delle aperture di borsa...okkio a chiudere sempre i long alla fine di giornata solo con gli short si guadagna sicuramente...
okkio si scende in super gap down ....
loro hanno le banche che emettono i rating come vogliono loro e fanno scendere o salire a loro piacimento prima delle aperture di borsa...okkio a chiudere sempre i long alla fine di giornata solo con gli short si guadagna sicuramente...
mike 70
Forumer storico
A questo punto oggi potrebbe scorrere il sangue vero.....................
I politici sono degli adulti viziati come dei bambini, non si rendono conto di pilotare il motore delle economie, i mercati non sopportano le incertezze, un altro w.end senza accordo li manderà fuori di testa
I politici sono degli adulti viziati come dei bambini, non si rendono conto di pilotare il motore delle economie, i mercati non sopportano le incertezze, un altro w.end senza accordo li manderà fuori di testa
MATLEY
Forumer storico
Debito Usa, voto annullato alla Camera: si riparte da zero
Si complica il percorso per evitare il default degli Stati Uniti. Rivolta nel Tea Party, repubblicani in difficoltà
New York, 29 lug. (TMNews) - Si complica il percorso per evitare il default degli Stati Uniti. Quando mancano quattro giorni alla data che segna, secondo il Tesoro, il momento in cui finiranno i soldi per pagare i creditori dello stato federale, il presidente della Camera John Boehner è stato costretto ad annullare il voto previsto sulla proposta repubblicana per alzare il tetto del debito. Motivo: mancava la certezza dei 216 voti necessari a far passare il disegno di legge. E' vero che la proposta si sarebbe arenata subito sul no certo del Senato democratico, ma si trattava di un passaggio chiave per consentire ai repubblicani capitanati da Boehner di muovere un passo verso una proposta di compromesso con i democratici, che a loro volta hanno in tasca una contro-proposta da mettere ai voti. Il problema emerso è che Boehner non ha i voti dell'ottantina di deputati vicini al Tea Party, che ritengono la proposta del presidente della Camera troppo moderata in termini di tagli alle spese.
Il piano che sarebbe dovuto andare al voto della Camera prevedeva di alzare il tetto del debito di 900 miliardi subito e 1.600 il prossimo anno, consentendo al governo di prendere nuovi fondi a prestito e così pagare gli interessi sui buoni del Tesoro. Insieme al nuovo debito erano previsti tagli alle spese per circa 1.000 miliardi subito e 1.800 il prossimo anno: troppo poco per gli intransigenti del Tea Party, che vogliono tagli massicci in cambio del sì all'assunzione di nuovo debito da parte del governo federale. Ieri sembrava che la leadership repubblicana fosse riuscita a ottenere i voti dei 'Tea Partiers', ma in serata si è capito che la maggioranza non c'era. E così Boehner ha prima rinviato il voto e poi, dopo ore febbrili di negoziati dentro il gruppo del partito alla Camera, ha deciso di annullarlo.
Non si sa quale sarà la prossima mossa: si potrebbe riparlare di un voto della Camera già oggi, dopo una riunione della leadership repubblicana alle 10 di Washington (le 16 in Italia), oppure si potrebbe tentare il compromesso con i democratici su una proposta terza. Quella del senatore democratico Harry Reid per 2.500 miliardi di innalzamento del debito subito è destinata a incontrare il no della Camera, e quindi si dovrà trovare una via diversa. E mentre il Congresso si prendeva un giorno in più per negoziare una soluzione, la Casa Bianca ha taciuto. Per Barack Obama ha parlato alla fine della giornata il suo portavoce, Jay Carney, intervistato in diretta da Msnbc alle 20 di Washington (le 2 di questa mattina in Italia). "Questo ormai è un circo" ha detto, mentre dietro di lui calava il sole su un'altra giornata finita senza un'intesa per salvare gli Stati Uniti d'America dalla prima dichiarazione d'insolvenza della loro storia.
Si complica il percorso per evitare il default degli Stati Uniti. Rivolta nel Tea Party, repubblicani in difficoltà
New York, 29 lug. (TMNews) - Si complica il percorso per evitare il default degli Stati Uniti. Quando mancano quattro giorni alla data che segna, secondo il Tesoro, il momento in cui finiranno i soldi per pagare i creditori dello stato federale, il presidente della Camera John Boehner è stato costretto ad annullare il voto previsto sulla proposta repubblicana per alzare il tetto del debito. Motivo: mancava la certezza dei 216 voti necessari a far passare il disegno di legge. E' vero che la proposta si sarebbe arenata subito sul no certo del Senato democratico, ma si trattava di un passaggio chiave per consentire ai repubblicani capitanati da Boehner di muovere un passo verso una proposta di compromesso con i democratici, che a loro volta hanno in tasca una contro-proposta da mettere ai voti. Il problema emerso è che Boehner non ha i voti dell'ottantina di deputati vicini al Tea Party, che ritengono la proposta del presidente della Camera troppo moderata in termini di tagli alle spese.
Il piano che sarebbe dovuto andare al voto della Camera prevedeva di alzare il tetto del debito di 900 miliardi subito e 1.600 il prossimo anno, consentendo al governo di prendere nuovi fondi a prestito e così pagare gli interessi sui buoni del Tesoro. Insieme al nuovo debito erano previsti tagli alle spese per circa 1.000 miliardi subito e 1.800 il prossimo anno: troppo poco per gli intransigenti del Tea Party, che vogliono tagli massicci in cambio del sì all'assunzione di nuovo debito da parte del governo federale. Ieri sembrava che la leadership repubblicana fosse riuscita a ottenere i voti dei 'Tea Partiers', ma in serata si è capito che la maggioranza non c'era. E così Boehner ha prima rinviato il voto e poi, dopo ore febbrili di negoziati dentro il gruppo del partito alla Camera, ha deciso di annullarlo.
Non si sa quale sarà la prossima mossa: si potrebbe riparlare di un voto della Camera già oggi, dopo una riunione della leadership repubblicana alle 10 di Washington (le 16 in Italia), oppure si potrebbe tentare il compromesso con i democratici su una proposta terza. Quella del senatore democratico Harry Reid per 2.500 miliardi di innalzamento del debito subito è destinata a incontrare il no della Camera, e quindi si dovrà trovare una via diversa. E mentre il Congresso si prendeva un giorno in più per negoziare una soluzione, la Casa Bianca ha taciuto. Per Barack Obama ha parlato alla fine della giornata il suo portavoce, Jay Carney, intervistato in diretta da Msnbc alle 20 di Washington (le 2 di questa mattina in Italia). "Questo ormai è un circo" ha detto, mentre dietro di lui calava il sole su un'altra giornata finita senza un'intesa per salvare gli Stati Uniti d'America dalla prima dichiarazione d'insolvenza della loro storia.
claudios
Forumer storico
esatto
alla fine l'opposizione in usa collabora sempre
altrimenti vengono considerati antiamericani dall'opinione pubblica