Its happened...
Senate Majority Leader Harry Reid (D-Nev.) has signed off on a bipartisan deal between President Obama and GOP leaders to raise the debt limit.
After meeting with House Democratic Leader Nancy Pelosi (Calif.) for over an hour and a half on Sunday, Reid and other Senate Democratic leaders must now sell the deal to their caucus.
“Senator Reid has signed off on the debt-ceiling agreement pending caucus approval,” said Adam Jentleson, a spokesman for Reid.
Sources familiar with the outlines of the deal say it would raise the debt limit by about $2.7 trillion and reduce the deficit by the same amount in two steps. It would cut about $1 trillion in spending up front and set up a select bicameral committee to put together a future deficit-reduction package worth $1.7 trillion to $1.8 trillion.
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U.s about to default on their debt?
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by anti-hero » Wed Aug 03, 2011 9:06 am
SupitsJonF wrote:I absolutely cannot stand political parties. The best person should always be elected, not miss out on votes due to being a republican or democrat. Parties create blind and ignorant voting imo. And I really dont blame Obama much, because had McCain been elected I think we would still be in all of the same problems we are in anyways. It just seems like this is the way the times are at the moment, the president is just the face of the problem, and it wont be solved in a 4 year term.
I also dont expect things to get better soon, a politician can help fix the economy with some long run economics, but it makes things not so great in the short run, hence not being re-elected for a second term, and no one wansts to do political suicide, not even for the good of the country
holy moley that is brilliant.
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anti-hero - >> LFC Elite Member <<
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33 posts
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