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Editor/Founder: Bill Smith, Ph.D. [aka: OzarkGuru & 2010 AFP National Blogger of the Year]
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One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors. -- Plato (429-347 BC)

Tuesday, July 26, 2011

House Speaker Delays Debt Vote; Looking For More Spending Cuts

Evening Update - July 26, 2011: According to the Washington Post, the White House continues to threaten today to veto any legislation pending in the House to avert a threatened default. The ARRA News Service editor has seen the White House's Statement of Administrative Policy on Speaker Boehner's version of S. 627 – Budget Control Act of 2011. The advisory reads, "The Administration strongly opposes House passage of the amendment in the nature of a substitute to S. 627. If S. 627 is presented to the President, the President’s senior advisors would recommend that he veto this bill."

It does not say the President will veto the bill. In response to this advisory, there appears to be potential "wiggle room." Brendan Buck, a Boehner Spokesman, said “The House plan is the only one with a pathway to the President’s desk, and we appreciate his apparent willingness to sign it. By signing the House bill, the President could quickly end the crisis atmosphere he’s created and demonstrate he’s serious about cutting spending.”

Speaker Boehner has stopped action to vote on his proposed debt-ceiling bill being but together by several House members and his staff. The vote originally scheduled for for Wednesday may now be held on Thursday.

The reason is that the Congressional Budget office (CBO) scored the proposed house bill and reported late today that Boehner's plan to raise the debt limit would fall short of the savings expected by the bill. The CBO projected that the present bill would save about $840 billion over the next decade which is about $400 billion less than the planned figure of $1.2 trillion.

Michael Steel, the speaker's spokesman, said that Boehner's staff is "looking to rewrite the legislation" and that “We’re here to change Washington – no more smoke-and-mirrors, no more ‘phantom cuts.’ We promised that we will cut spending more than we increase the debt limit – with no tax hikes – and we will keep that promise. As we speak, Congressional staff are looking at options to re-write the legislation to meet our pledge. This is what can happen when you have an actual plan and submit it for independent review – which the Democrats who run Washington have refused to do.”

Rep. Jim Jordan (R-OH), Chairman Republican Study Committee, shook up things today when he said he doubted Rep. Boehner had enough support to pass his plan. The Boehner bill would provide an immediate debt ceiling increase but would require further action before the 2012 elections. Many House Republicans want permanent cuts established now. Jordan is one f the authors and promoters of the "Cut, Cap, and Balance" bill that passed in the House and was tabled by the Senate.

President Obama also opposes that last requirement to revisit spending and cuts before the 2012 elections. Obama argues that it would reopen the delicate and crucial debt discussions to unending political pressure during next year’s campaigns. Again as detailed in a prior article, Obama is focused more on the 2012 Elections than his present responsibilities which includes saving American both from financial default and from wrecking our country with our of control spending which he and his cronies Sen Harry Reid and Rep. Nancy Pelosi released in his first two years as president.

Notice the connection, Pelosi corrals the House Democrats and keeps them from supporting responsible bills, and Sen. Harry Reid tables them when they arrive in the Senate. "Chicago Style" Business as usual. These liberal progressive democrats are making respectable democrats sick and they don't care. Obama wants 5 1/2 more years in the White House, Sen. Reid already has 5 1/2 and Rep. Pelosi from the City of Fruits and Nuts want to be Speaker again but this is doubtful so she just serves as the drag on positive efforts in the House.

Tags: US House, debt bill, CBO, spending, Barack Obama, veto threats, To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
Posted by Bill Smith at 8:39 PM - Post Link

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