White House, Congressional Leaders Reach Debt Deal
The “leaders” – Boehner, McConnell, and Reid told Obama they have a deal. Of course, Obama jumps up and down and tells the world, “We have a deal!” And the Asian Markets jump up and down too. The Nikkei and Hang Seng opened strong on the news. Hell, I even got excited for a second.
Is this really our cue to cheer? It still has to pass Congress. So basically, no. Or not yet. Michelle Bachmann already says she’s going to vote no. I don’t understand why the hell not? This deal is all cuts, no revenue. Nancy Pelosi says she has to look it over with her caucus first. I understand why. This deal is all cuts, no revenue.
There is a deal, but in no way is it done. The Tea Party wants way more cuts. The Democrats would like to see some revenue too. But all that shouldn’t be tied to the debt ceiling.
The whole point is that we can’t default on our obligations. We have to raise that debt ceiling. It’s not about being able to spend more, but pay for the stuff we already bought. The Tea Party doesn’t see it like that. They see it as an opportunity to use it as leverage to get what they want. I guess that’s one way to do it. Being ready to slit your country’s throat to get your way.
So, when should we break out the champagne? August 3. Either to celebrate or cry into our flutes.
Spinny Liberal 
August 1st, 2011 at 12:56 AM
Weep for the middle class…..Dems are allowing the screwing to continue!
August 1st, 2011 at 9:29 PM
Since they got the vote, “allowed the screwing.” Oh well.
August 1st, 2011 at 6:02 AM
I wish someone would ask these debt dealers how after ten years of cutting taxes and borrowing the money we do spend is going to kill the deficit. This was essentially going on for eeight years under Bush/Cheney and you see where that got us.
When you cut spending you not only cut programs that contain jobs but these job loss don’t get absorbed into the private sector, especially because the narrow minded tea party mentality doesn’t want to spend money to create new job initiatives.
It’s all about no spending and no tax increases with these twits to generate needed revenue. How does anyone clear their debts this way when the interest alone will eat up what cuts are taking place?
August 1st, 2011 at 6:08 AM
Larry, I did that on twitter….I have a Fla. TP member following me…and I am waiting for an answer…if it ever comes…….the deal is a sh*t sandwich (politics on either side and a whole lotta crap in the middle)….
August 1st, 2011 at 9:31 PM
You got it right there. Those jobs aren’t absorbed, so they’ll be unemployed with no money to spend and stimulate the economy.
August 1st, 2011 at 8:10 AM
Sigh.
Why is it that people get all outraged and mobilized to dump congress people who cheat/Tweet their junk, but not when congress people intentionally try to sabotage our economy because their # 1 goal is sinking the president instead of serving the people?
Gotta love priorities.
August 1st, 2011 at 9:33 PM
No kidding. I’d rather have the shame of Weiner’s weiner than their shameless objective – making sure Obama is a one-term president.
August 1st, 2011 at 12:13 PM
Start taxing the rich, the super-rich, close the loop holes that the mega corporations find in order to cut what they will pay if any, and part of this mess will go away. Until then, the Tea Party shit heads keep getting their way, then it will continuously get worse.
Their the ones who are playing with fire, and the blaze is getting higher. Time to extinguish it, and run these assholes out of town.
August 1st, 2011 at 9:33 PM
Especially those loopholes!! God that is so maddening.
August 2nd, 2011 at 10:38 AM
Well, it looks like the Senate just passed it so, it’s about to head to Obama’s desk.
Frankly, when I first heard that the Tea Baggers were forcing cuts in order to pass the debt ceiling increase I was angry, but then I thought that this may be a good opportunity to look at some longer range structural reforms to save money – like closing some military bases and increasing taxes on the wealthiest. Obviously that’s not what the Tea Party had in mind and this “deal” has 95% of what they wanted (a number spewed by Boner I mean Boehner). Totally a waste of a prime opportunity to get our house in order.
If I was a congressman I would have voted ‘no’. Obama should have shown leadership and unilaterally raised the ceiling by invoking the 14th amendment until Republicans decided it was time to compromise. But alas, I’m not one.
August 2nd, 2011 at 10:43 AM
Obama should have shown leadership and unilaterally raised the ceiling by invoking the 14th amendment until Republicans decided it was time to compromise.
Absolutely PR. There was no shared sacrifice here. There was a president who didn’t have the balls. Again. *sigh*