Last-Minute Debt Agreement May Be Close
- Posted on July 30, 2011 at 11:35pm by
Christopher Santarelli
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Officials say the White House and Republican leaders in Congress are making significant progress toward a last-minute agreement to avoid a default threatened for Tuesday.
These officials say the two sides are discussing a plan to raise the debt limit by about $2.4 trillion and enact spending cuts of a slightly larger amount in two stages.
The deal under discussion would also require Congress to vote on a balanced budget amendment to the Constitution, but not require its approval.
The officials spoke on condition of anonymity, citing the sensitivity of the discussions.
Reid delayed a test vote on the Democratic debt limit increase plan until 1 p.m. Sunday, as some Senate leaders are expected to work with White House officials through the night.
The Associated Press contributed to this article.



















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Comments (174)
Brasil2520
Posted on July 31, 2011 at 12:18amThat‘s what I’ll tell Wells Fargo for my monthly home payment I’m “close” to paying you, see how long I last.
GBMBulletsSKNRD
Posted on July 31, 2011 at 12:32amSo the American children, grandchildren and great grandchildren get scr3wed again. Nothing to see here people just move along.
Report Post »angroehl
Posted on July 31, 2011 at 12:37amExactly!
Report Post »SovereignSoul
Posted on July 31, 2011 at 12:37amRemember, if you default you”ll be downgraded. When I”m short on cash I just print some more. Is that wrong?
Report Post »ConservativeFirst
Posted on July 31, 2011 at 12:44amYeah, like “I wrote the check, but there is no obligation that it be mailed”. The Senate isn’t going to pass a Balanced Budget Amendment – heck, they have’t passed a budget in over 800 days. Obama submitted a budget that received ZERO votes in support for budget. The Senate can’t even get a Debt Ceiling bill to the floor for a vote.
So, the debt ceiling will be raised and we will be in the same position as we are now, but further in debt. And, I assume this will be kicked down the road until after the Presidential Election?
This isn’t sounding too promising to me…….but then again, I am probably one of those “Extremist” Tea Party People!
Tea anyone?
Report Post »Rice Water
Posted on July 31, 2011 at 12:57amThank heavens all these kind, charitable sponsors are still willing to let me trade my worthless dollars for their gold!
Report Post »tifosa
Posted on July 31, 2011 at 1:00am“The Associated Press contributed to this article” is a funny way of wording it. The most interesting thing is what theblaze editor LEAVES OUT that Associated Press included. You know, little details like them calling what would occur without a deal an “economy-crippling default.”
Report Post »Teaparty-grammy
Posted on July 31, 2011 at 1:23am@ConservativeFirst:
“Kicking the whole issue down the road” until AFTER the 2012 elections is EXACTLY what the Demonrats are after, and they will not be satisfied with ANY plan that does not do that. They do not want the voters reminded yet AGAIN before the election of what a colossal mess they made of this country, and will do just about ANYTHING to postpone that bad news until after they are re-elected, which is really ALL they care about. Oh, you thought they were worried about you? ROTFLMAO! The only cure is to VOTE THE BUMS OUT in 2012, no matter WHAT they promise between now and then!
Report Post »Favored93
Posted on July 31, 2011 at 1:50amTHIS DRIVES ME NUTS!!!!!!!!
Report Post »It’s these last min,hurry up and get it passed that ALLWAYS ends up making us grab our ankles and just take it kinda deals!
The republicans need to just slow their rolls and do what is RIGHT for this country! STAND NO MATTER WHAT THE LEFT HAS TO SAY ABOUT IT!!!!!!!!!!!!!!!!!!!!
We all know what kinda deal we will get with this last min “emergency” cra’p!
SHAFTED!!!!!!!
ACgirl
Posted on July 31, 2011 at 4:03amI think it’s time to give Barry a little birthday present. I’m going to my employer and change my tax status to exempt, and stash the cash until I file my taxes in April. Do you think if their 180 billion they get each month was cut in half for the next 8 months or so they would GET THE HINT THAT WE’RE PISSED OFF!!!!
Report Post »Dustyluv
Posted on July 31, 2011 at 4:30amIf Reid has anything to do with it we are screwed.
Report Post »Consteacher
Posted on July 31, 2011 at 6:12amright on! Get your preps together, top off, get ready. This whole scheme of the Dems and Gop will not end well. Prep and pray, the end has arrived. If we are screwed again (most likely), well, even a kitten when pushed into a corner comes out swinging. The corner is fast approaching.
Report Post »sissykatz
Posted on July 31, 2011 at 6:43amAny one want to make a bet????? The Debt Ceiling will be raised, There will be some reductions, the part about the Balanced Budget will be in there (of course it won’t pass) AND THE BIG ONE IS OBAMA
Report Post »WILL NOT HAVE TO RE=VISIT THE ISSUE UNTIL AFTER THE ELECTION…..
I posted this earlier on Saturday on another story, but I’m still thinking that is what will be done.
So really the only thing the Tea Party Extremists will get is that the Balanced Budget will come up for a vote. YIPPEE YIPPEE I am just sick. Oh they will say we cut a lot of the spending, but we all know it won’t be “real cuts”. So yeah we will get to put the BBA on the ballot so it can be voted down.I am just sick about this.
But I would bet that is what it will be. Some one wake me Nov. 2012 I don’t think I can keep doing this. I read it all day and night and go to sleep for a couple of hours and dream about it. Get up and start over again. I have just about had it ,,,,,,,,,,and ready to quit.
one years food ration like glenn says
Posted on July 31, 2011 at 8:34amThis guy needs mental medical help .. He looks and sounds insane.. I mean really, this isn’t a person that is suppose to be working in our government.. He needs to be in a white room with a str8 jacket..
Report Post »circleDwagons
Posted on July 31, 2011 at 8:56amDear IRS the checkbook is the den, I think I might have a pen in the kitchen… i need to find my glasses …. wait there is the dog …. what day is it? oh yes you will be the first to be paided … now wheres my tea?
Report Post »loriann12
Posted on July 31, 2011 at 9:05amWell, we don’t have to worry about the military retirees getting paid. We got our check electronically deposited yesterday.
Report Post »sbish
Posted on July 31, 2011 at 9:11amIf Moody’s is not going to endorse either the Reid or Boehner Plans, I don’t see them endorsing this plan either. It isn’t much different. The lowest we should set that bar for raising the debt ceiling is that the ratings companies need to find that the cuts deep enough to put us on the right path and avoid a ratings down grade. We should strive for better, but that is the lowest we should set the bar. In essense, Cut Cap and Ballance is the only plan which meets the lowest setting of the bar and the Democrats have not even taken it seriously. If the GOP can stop falling overthemselves trying to put out new plans every 5 minutes and realize this fact, they could get the majority of the country behind them, force the Ds to negotiate a CCB bill and actually get it done. That probably won’t happen, as the GOP leadership are not very savvy negotiators, however. Negotiating against yourself is one of the first things an attorney or sales person learns not to do while on the job, and for some reason, this group is not aware of that concept (which is strange considering they are a bunch of attorneys).
Report Post »hauschild
Posted on July 31, 2011 at 10:00amMy God – what’s happened to this country???
Report Post »vtxphantom
Posted on July 31, 2011 at 10:24amLast minute “sh**” deal. Do it in the open, on Cspan, not a back room deal. Bend over people, the doctor needs to do an exam. Impeach obama. Vote these clown out of office. I don’t much care how we get rid of these clown, we just need to do it.
Report Post »whitebears
Posted on July 31, 2011 at 1:02pmA run on the banks…hmmmm….interesting…Soros sold out on Saturday, liquidated…
http://www.theseason.org/revelation/revelation13.htm
Report Post »SavingtheRepublic.com
Posted on July 31, 2011 at 12:18am^____^____^
Take note it mentions the White House and the republicants are working on a last minute deal, there is no indication that the dems are involved. That means they will torpedo this thing when it hits the Senate floor. The White House is not working on behalf of dems IMO, Emperor O has his own agenda that may mimic their beliefs but he has his own plans.
Was it not reported earlier that Reid was filibustering his own plan? No one can be trusted on this and making the bal. budget amend something that can be voted on but not needing approval is unacceptable. DCs spending is the problem it must be stopped.
Stop playing their game and start playing your game http://SavingtheRepublic.com
Report Post »hauschild
Posted on July 31, 2011 at 10:04amI don’t agree. This plan is Reid’s plan – he’s the one that insisted the White House NOT include tax hikes.
This sham will pass the senate, go back to the House where it will have overwhelming democratic support and it’s done.
Republicans in the House and Senate ought to be ashamed of themselves. This is a sad, sad day for traditional Americans.
Report Post »flagbearer
Posted on July 31, 2011 at 12:16amPatriots, don’t think that a balanced budget amendment is a fix-all. If it is not well-written it could backfire on us. The WSJ, the Canada Free Press, and Judge Napolitano, have all said that there are dangers to it: finances could end up in the hands of federal courts, taking the power from the legislative branch and putting it in the hands of the judicial branch. So, yes, I’m in favor of a balanced budget amendment, but we need to make sure this scenario doesn’t happen. Many of the federal judges, if not most, are progressive/liberals. Tell your Tea Party reps.
Report Post »Jaycen
Posted on July 31, 2011 at 12:53amThey always backfire, Flagbearer. 49 of 50 states already have some form of BBA in their State Constitution. Most of the states are swimming in debt. The BBA is not a magic fix-all. It doesn’t even mean anything. They always make sure to look for a loophole and spend past it anyway.
Tea Partiers, BBA is a nothing issue. Ignore it. Pay attention to your Representatives and Senators. Contact them. Let them know you want spending for current programs cut now.
Report Post »MidWestMom
Posted on July 31, 2011 at 8:26amChanging our Constitution is not a trivial matter – its a very, very serious action. Certainly not something to be “tacked on” to other legislation.
The whole issue of a BBA is nothing more than a diversion. Too many voters are saying “if I have to live within my means [ie: a budget] than so should the government” or something to that effect. Members of congress are throwing out BBA hoping voters will stop looking at anything else for awhile.
Like throwing scraps to a pack of hungry wolves. Delay them long enough so you can grab your gun and shoot them.
Report Post »mrmikejohnson
Posted on July 31, 2011 at 12:13amMoodys has already come out and said they’re going to downgrade us if any of the bills being considered passes.
I hope Tuesday comes and goes with no deal.
Report Post »Kevin The Elder
Posted on July 31, 2011 at 5:12am@mrmikejohnson commented: ‘Moodys has already come out and said they’re going to downgrade us if any of the bills being considered passes. I hope Tuesday comes and goes with no deal.’
I would add that S & P has hinted that it too will downgrade unless spending is not reduced by at least $4.5 tril-tr-tr-TRILLION. The sad thing is that these politicians think we’re too stupid to know what will happen if no agreement is made, i.e. the government shut down, etc. WE DO KNOW! But we also know that unless something that drastic happens the McConnells, Boehners, Reids, Pelosis, et al we just continue business as usual. I agree with you totally.
Report Post »gotta light
Posted on July 31, 2011 at 5:31amI think Barry’s office has been calling Moodys and encouraging them to say the whole “downgrade” bit. It part of his “taking it to the people”
Hey bud gotta light?
Report Post »saranda
Posted on July 31, 2011 at 11:55amA down grade is not the worst thing in the world. Canada was downgraded in the mid 1990′s and now is the poster child for fiscal restraint. Of course they got back on track with a liberal government who took things seriously and began a program of cuts including business subsidies by 40 -60% and a 15% cut in defense spending, along with cutting 23% of federal employees and a 20% trimming overall of federal spending. Rates went up a couple points but they quickly got their act together and this time the recession almost missed them completely.
Report Post »TheCenturion
Posted on July 31, 2011 at 12:10amAh yes, the bourgeoisie thinks they’re putting one over on the proletariat.
ALL of the establishment republicans must be replaced with TEA party conservatives, ASAP.
Report Post »Favored93
Posted on July 31, 2011 at 1:56amAMEN!!!
Report Post »We are in desperate need of term limits!!!!!
staythecourse
Posted on July 31, 2011 at 12:08amSo… how many pages is this bill going to be…and will anyone actually read it before voting on it? Obama and his croinies are all liers! They want to destoy our country and will do anything to accomplish that end. I do not trust them!
Report Post »jedi.kep
Posted on July 31, 2011 at 12:07amWatch the other hand!
Report Post »Jack MeOff
Posted on July 31, 2011 at 12:19amwhy?
Report Post »loriann12
Posted on July 31, 2011 at 9:09am@Jack MeOff
Because it’s like a magician….redirection. They do something spectacular in one hand, while the trick is actually performed in the other hand. They have something low down planned.
Report Post »jacquecustard
Posted on July 31, 2011 at 12:04amWelcome to tax slavery to the Statists
Report Post »Husker66
Posted on July 31, 2011 at 12:02amWTF,,, “but not require its approval”,,,screw it all go to default, these clowns are unbelievable.
Report Post »Captain Crunch
Posted on July 31, 2011 at 12:00amI’m sorry but I have no faith or confidence in them to make faithful agreements, even legally binding agreements, and then abide by them. These politicians, expecially the Democrates have shown a history of deceitful deceptiveness. I believe the two step process is buying time for them to figure out a way, by hook or crook, to do just the opposite and not abide by the terms of the agreement. The part about “not requiring passage” of a balanced budget amendment is noting more than an escape hatch. Their past pattern of behaviour confirms they are liars who are not to be trusted for a moment.
NOT TO BE TRUSTED…just like habitual criminals.
Report Post »Jack MeOff
Posted on July 31, 2011 at 12:06amHey Capt’n… How’s that “report a post” working out for ya????
Captain Crunch
Posted on July 31, 2011 at 12:08amGo away idiot.
Report Post »Jack MeOff
Posted on July 31, 2011 at 12:22amNow, Capt’n, is that anyway to talk to your crew? You should be ashamed!
GBMBulletsSKNRD
Posted on July 31, 2011 at 12:45amCaptain,
You are right on the mark.
Jack,
You are an idiot but do keep up the trolling.
And Captain,
Report Post »So the American children, grandchildren and great grandchildren get scr3wed again. Nothing to see here people just move along.
JUSTANOTHEROPINION
Posted on July 31, 2011 at 12:00amI am so tired of hearing Reid saying the Republicans won’t compromise and how the Democrats are the reasonable ones. He claims that he and the Democrats are working for the people and that’s a lie. If they are working for the people then why is it they want to just get more money to spend. I do not know one person that wants higher taxes. He needs to get his head out of Obamas’ butt and see the light.
Report Post »cane247
Posted on July 31, 2011 at 1:27amReid IS working for the people, the people that own his sorry ass. They’re also known as the NWO crowd.
Report Post »saranda
Posted on July 31, 2011 at 11:42am@cane247 – both sides work for the people who own their sorry ass (as you put it). The Dems just represent a constituency which you cannot sympathize. That is just the reality. Just as Dems cannot sympathize with the constituency of the TP or the repubs. That is why we have two political parties. Without two parties, one constituency would be run roughshod over.
Report Post »The founding fathers made it difficult to pass bills under this system for good reason. It is far from perfect but I do like our system.
BJC
Posted on July 30, 2011 at 11:58pmThis is the Community Agitator’s favorite time. He gets high off of a crisis. He’s a crisis junkie. Now is when the Community Agitator slips in his extra set of laws that no-one wil have time to read and figure out. Just like Stimulus, and Obama Care. They‘ll have to pass it before we can all know what’s in it. God help us!!
Report Post »shorthanded12
Posted on July 30, 2011 at 11:56pmLets use VAN Jones annalogy…. From the TOPP DOWN way down “YOUR FIRED”
Report Post »SPOT_OF_TEA
Posted on July 30, 2011 at 11:55pmNow is the time to bring out the real bill that was agreed on several months ago.
Report Post »Jack MeOff
Posted on July 30, 2011 at 11:59pmI told you to keep watching your TV!!!
Jack MeOff
Posted on July 30, 2011 at 11:54pmHarry Reid runs this country. The sooner you sheeple come to terms with that fact, the easier it will be for you!!! Now, keep watching your TV……
seeker9
Posted on July 31, 2011 at 12:13amAre you encinom who was sexually abused as a child? When the Progs bankrupt us, you are not going to be in such a happy stste yourself, you know.
Report Post »shorthanded12
Posted on July 31, 2011 at 1:10amHarry Reid is nothing more than a Puppet with a string just like Barry O, they speak when the shadow government inside the Federal Reserve tells them to. Look into the Fed Reserve like companys called Blackrock<—a shadow company of Bank of America.
Report Post »mavsfan75
Posted on July 30, 2011 at 11:54pmAny agreement that puts this thing off until after the 2012 election should be considered TREASON!!!
Report Post »Barry O and the Liberals will do whatever it takes to give this stooge a platform to stand on for re-election in ‘12. I can hear it now…”and at the end of July of last year, I was able to garner support and step across the aisle in the true spirit of bi-partisanship and pull the country back from the brink of bankruptcy…VOTE FOR ME!!!!”
shorthanded12
Posted on July 30, 2011 at 11:53pmdoes timmy tax cheat geithner and the benny bernanke show have the printing press in idle mode ready to print 2.2 trillion worthless dollars???????????
Its about time we the people ‘STOP PAYING TAXES” maybe them JERKS in DC Just Might Get the hint….“Heres Your Sign”
Report Post »hauschild
Posted on July 30, 2011 at 11:53pmDoesn’t this plan have to go back to the House???
Report Post »angelcat
Posted on July 31, 2011 at 12:00amyes
Report Post »JMartin76
Posted on July 30, 2011 at 11:51pmWhat good ever comes when egomaniacs meet together in the secret of night?
Report Post »Our country must change course. Unfortunately, the republican establishment doesn’t have the stomache to do what is best for the people in the long run…
hereandnow
Posted on July 31, 2011 at 12:17amliving in their little bubble…., it‘s not Repub’s vs Demo’s, or congress vs the executive branch…. it’s the Federal Government as a whole (presently socialist guided) vs “WE THE PEOPLE”.
Report Post »82dAirborne
Posted on July 30, 2011 at 11:50pmI will NEVER again vote for anyone who opposes an amendment to the US Constitution REQUIRERING a balanced budget. They won’t have to belong to the TEA Party but they will have to share the same values. And most importantly of all they had better do what they promise to do.
It’s time for another revolution. Not with weapons but with our votes. You would never put up with so many lies from your children or a friend or a business partner….. Why in the world do we allow our elected officials to get away with it?????
Report Post »angelcat
Posted on July 31, 2011 at 12:02amUnfortunately, because of our entitlement society and the number of people who pay no attention to what is going on, not voting will just keep things going as they have been.
Report Post »82dAirborne
Posted on July 31, 2011 at 12:07amOh I’ll vote!!!!!!!
Report Post »ConservativeFirst
Posted on July 31, 2011 at 12:52amUnfortunately, there is no guarantee that they will do as they say. Look at the Slimy Senator Sherrod Brown who is on video two separate times over the last 15 years supporting a balanced budget amendment. I would bet you a large sum that he will not support it now if it should come up for a vote.
Report Post »Snowleopard {gallery of cat folks}
Posted on July 31, 2011 at 2:38am@82nd Airborne — Indeed, it is past time for a peaceful revolution to occur.
One thing has been troubling me for some time now, the recent ranting of Homeland Security and Napoletano over ‘domestic terrorists’ and the mentioning of the possible invoking of the section 4, of the 14th amendment that deals with debts and the ‘insurrection and rebellion’ parts makes me wonder if this may be the ultimate goal of Obama in his causing of the crisis.
Think on it — if there is anything that occurs over the debt, say the military does not get paid, or Soc Security, or such; he signs prearranged executive order that a ‘rebellion’ or ‘insurrection’ is occuring due to the debt limit fiasco…and he may have grounds to stand upon in the Supreme Court in the matters of the Constitutial usurping of authority he would do.
Not likely he will do this, yet someone on the radio tonight mentioned that there is a ‘insurrection’ in DC; and that got me to wondering. We may indeed be seeing the obvious triggering event in Obamas grab for power and control of the nation…this indeed may be the end game happening now.
We always watch the other hand…and yet I still feel we have been outplayed in this part of the game.
Just as I feel Reid has been set up as a scapegoat for Obama to shield himself when this mess goes off before the elections.
Report Post »MidWestMom
Posted on July 31, 2011 at 8:52am@snow
Bingo! I‘ve suspected for a long time that a ’manufactured crisis’ of some sort would happen. I believe this could be it. There’s a lot more going on here than raising the debt ceiling. The American people have been intentionally pushed & pushed in numerous ways over the last few years. We are one tiny sliver away from a ‘torches & pitchforks’ mob. Our economy has been brought to its knees. The country is literally falling apart at the seams. I don’t think a bill will be passed and then the situation will get really interesting. Engineered default – Sharp stock market drops – Credit Rating Downgrades – Withholding social security, medicare & military checks…..etc etc etc.
Its the perfect storm. And the perfect set-up to declaring a national emergency & martial law. When that happens, its over. All bets are off. And it will be ugly, very ugly.
Report Post »shorthanded12
Posted on July 30, 2011 at 11:49pmAnything with the names attached to it such as: Harry Reid, Barry “O” and Pelosi is just another PONZY SCHEME. CRIME INC RUNS RAMPED IN THE SOUP BOWL IE: DC
REMEBER FOLKS AND THE CORNHUSKER KICKBACKS DURING OBAMACARE…..IF IT SMELLS LIKE SH_T IT IS SH_T. And we the people suffer the most.
Report Post »Brasil2520
Posted on July 31, 2011 at 12:14amThe biggest ponzy scheme is Social Security and even that, thanks to congress is just about out of money
Report Post »freedom_gurl35
Posted on July 30, 2011 at 11:44pmSo the “slightly than larger cuts”, how long exactly will these be made over? The next 10 years, or the next 6 months? Big difference when you’re talking about raising the debt ceiling by 2.4 trillion dollars. Will step one be immediate, or down the road a bit? The way this short article phrases the balanced budget amendment sounds like a cop-out. Sure, Congress can vote on it – does that include a vote to table it (’cause that’ll happen in the Senate)?
I’m going to reserve judgment until the details of this agreement are made public, but I won‘t hold my breath that it’ll do anything to alleviate the Washington spending problem.
Report Post »buckster6.0
Posted on July 30, 2011 at 11:49pmsame old ********.
Report Post »cane247
Posted on July 31, 2011 at 1:33amSpending cuts will be over 10 yrs which means that there will be ZERO cuts. If there is any actual money “cut” it will be something phoney like money not spent in Afganistan after we withdraw this Fall. Cut ACORN $$ and maybe I’ll start to believe in the tooth fairy again.
And what good is a “vote” on the BBA when Reid will sink it anyway?
Let’s just DEFAULT and start the 2nd Revolution Tuesday Night.
Report Post »Psychosis
Posted on July 30, 2011 at 11:40pmEVERY POLITICIAN THAT VOTES TO NOT PASS A BALANCED BUDGET AMENDMENT SHOULD BE “ TARGETED ” :) FOR A PRIMARY COME ELECTION TIME
write your congressmen and representatives and remind them we are watching , and will face the repercussions of not voting yay for the balanced amendment option
Report Post »comstox
Posted on July 30, 2011 at 11:39pmWHAT???? Sold down the freeakin river… AGAIN!
Report Post »Even so come quickly November!
Snowleopard {gallery of cat folks}
Posted on July 30, 2011 at 11:36pmWe are being SO set up America.
Report Post »discardofevil
Posted on July 30, 2011 at 11:44pmWe are definitely in trouble! Obama is screwing us! Wake up people don’t you get it!! The liberals have destroyed this country!!!! Bring it trolls!!
Report Post »freedom_gurl35
Posted on July 30, 2011 at 11:45pmYes, we are – and from this height, the drop down is looking pretty scary.
Report Post »