Politics

Sources Say Obama Scolded Leaders Before Walking Out of Debt Mtg: ‘Enough is Enough’

Sources Say Obama Scolded Leaders Before Walking Out of Debt Mtg: Enough is EnoughWASHINGTON (The Blaze/AP) — Amid new warnings and fresh signs of strain, President Barack Obama and congressional leaders are entering a perilous debt-limit endgame. After allegedly storming out of negotiations yesterday, the president has a message for both sides: Get your act together.

Obama is now saying “enough is enough” and is demanding that budget negotiators find common ground by week‘s end even as the Senate’s top Republican gained followers for his own last-ditch scheme to avoid a government default.

The continuing impasse was unsettling Wall Street, which up to now had performed as if an increase in the debt ceiling was not in doubt. And the looming Aug. 2 cutoff for action was creating new tensions between the president and Republican leaders.

Moody‘s Investors Service said Wednesday it will review the government’s credit rating, noting there is a small but rising risk that the government will default on its debt. If Moody’s were to lower the ratings, the consequences would ripple through the economy, pushing up rates for mortgages, car loans and other debts. A Chinese rating agency, Dagong Global Credit Rating Co., also warned of a possible downgrade.

Federal Reserve Chairman Ben Bernanke, addressing lawmakers, warned Wednesday that not increasing the nation’s debt ceiling and allowing the nation default on its debt would send “shock waves through the entire financial system.”

And in the cauldron of the White House Cabinet Room, Obama and top lawmakers bargained for nearly two hours Wednesday on spending cuts. Obama curtly ended the session when House Majority Leader Eric Cantor, R-Va., urged Obama to accept a short, monthslong increase in debt instead of one that would last through next year’s presidential election.

“Enough is enough. … I’ll see you all tomorrow,” Obama said, rising from the negotiating table and leaving the room, according to several officials familiar with the session.

The United States hit its current $14.3 trillion debt ceiling in May and the Obama administration says the government will default on its obligations if the debt limit is not increased by Aug. 2. For a new debt ceiling to last to the end of 2012 would require raising it by about $2.4 trillion.

Republicans, in control of the House of Representatives in part because of the support of tea party activists, say they will not vote to raise the limit if Obama doesn’t agree to at least an equal amount of deficit reductions over 10 years.

Obama and the top eight House and Senate leaders met for the fourth time in as many days Wednesday, and, despite the tense ending, agreed to meet again Thursday. Cantor, speaking to reporters after the meeting broke up, said the White House had been lowering the amount of spending cuts it would put on the table, offering less than $1.4 trillion over 10 years, mostly in domestic and defense spending outside of the major benefits programs like Medicare, Medicaid and Social Security.

The White House argued that the total was closer to $1.7 trillion over 10 years when counting about $240 billion in reduced interest payments from the lowered debt.

Earlier, in comments to a small group of reporters before the White House session, House Speaker John Boehner complained that negotiating with the White House “the last couple months has been like dealing with Jell-O.”

Democratic officials have portrayed the White House as the more flexible party in the negotiations, willing to cut cherished programs like Medicare, Medicaid and Social Security, provided Republicans agree to some increases in revenue. Thursday’s meeting was to focus on spending cuts in the two health care programs and on new tax revenue.

With talks reaching a critical stage without real breakthroughs, some Republican and Democratic lawmakers were looking at a plan proposed by Senate Republican leader Mitch McConnell that would give Obama new powers to overcome Republican opposition to raise the debt ceiling.

The proposal would place the burden on Obama to win debt ceiling increases up to three times, provided he was able to override congressional vetoes – a threshold Obama could manage to overcome even without a single Republican vote and without massive spending cuts. Conservatives promptly criticized the plan for giving up the leverage to reduce deficits. But the plan raised the prospect of combining it with some of the spending cuts already identified by the White House in order to win support from conservatives in the House.

In an interview with radio talk-show host Laura Ingraham, McConnell described his plan in stark political terms, warning fellow conservatives that failure to raise the debt limit would probably ensure Obama’s re-election in 2012. He predicted that a default would allow Obama to argue that Republicans were making the economy worse.

“You know, it’s an argument he has a good chance of winning, and all of a sudden we (Republicans) have co-ownership of a bad economy,” McConnell said. “That is a very bad positioning going into an election.”

The proposal won praise from two disparate points in the political spectrum – Republican Sen. John McCain of Arizona and Senate Democratic leader Harry Reid of Nevada.

“I am heartened by what I read,” Reid said. “This is a serious proposal. And I commend the Republican leader for coming forward.”

McConnell’s plan was even winning some consideration in the White House. Democratic officials said that even as Obama confronted Cantor and Boehner in Wednesday’s meeting, he commended McConnell.

“Sen. McConnell at least has put forth a proposal,” a Democratic official quoted the president as saying. “It doesn‘t reduce the deficit and that’s what we have to do. It just deals with the debt limit. Now Sen. McConnell wants me to wear the jacket for that.”

The officials said Obama went on to say they all had a responsibility to find a compromise.

Comments (128)

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  • CulperGang
    Posted on July 14, 2011 at 10:19am

    Sen. Mitch McConnell wants Congress to GIVE the power of raising the debt ceiling to Obama??
    McConnell is either a traitor to the Consitution or is senile. The power of the debt ceiling in Obamas hand is like, “Here go ahead and rape the wealth of the nation, have at it.” RESIGN McCONNELL! How dare you? The power is not your to give; It is the peoples.
    MONEY=POWER TOTAL POWER. McConnell wants a dictarorship in the Executive Branch??????
    McConnell destroying checks and balances?? HELL YEAH.(the little we have left)

    NO to allowing Obama to FURTHER destroy the wealth of the nation by redistributing it to HIS rich benefactors!!! by raising the debt ceiling.

    Soc. Sec can be taken out of bureaucracies that CAN BE closed down. Agencies that have proven to be DESTRUCTIVE to the Constitution and the welfare of We the People.
    1)Education Dept.
    2) Labor dept.
    3)Agriculture
    4)TSA there is more…….

    All these useless wasteful agencies that do nothing but “meddle with freedom of choices” CAN PAY FOR SOCIAL SECURITY.

    99% of the time you call these agencies and the workers NO NOTHING…..That is if you get to talk to a live body. Many of these agencies are designed so you DON”T speak to anybody about your concerns. These agencies are NOT there for the people……..they are there to implement bureaucrat policies THAT THE MAJORITY OF THE PEOPLE NEVER WANTED. CLOSE THEM DOWN!

    Report Post » CulperGang  
    • USAMama
      Posted on July 14, 2011 at 11:23am

      Agree 100%!! McConnell must go, if he was worried about co-owning this economy before elections, he should be more worried that he showed his true PROGRESSIVE colors!! He is a wolf in Sherpa clothing and his mask just fell off!!

      Of course Harry Reid and Obama LOVE this proposal, duh!! And it’s even more brilliant for their agenda because a “republican” came up with it!! I am so frustrated with these people I could spit nails!!

      Report Post » USAMama  
    • USAMama
      Posted on July 14, 2011 at 11:25am

      Thank you IPhone auto correct, that should be he is a wolf in SHEEPS clothing!!! Lol.

      Report Post » USAMama  
    • Mil-Dot
      Posted on July 14, 2011 at 11:47am

      McConnell must go. He is more worried about the election prospects of GOPs instead of doing what the people want done. THe people are behind the GOPs but the Dems always seem to beat the stuffing out of them. McConnell is getting his marching orders from somewhere outside the country. He is a traitor. He must be defeated in the next election or dragged out by his feet. One of the two.

      Report Post »  
    • Steve
      Posted on July 14, 2011 at 12:00pm

      These professional politicians have to go. Term limits must be set. To much power for to long corrupts anyone.

      Report Post »  
    • Islesfordian
      Posted on July 14, 2011 at 12:42pm

      Let me pose this question to you: What can the House do? Can it pass a budget on its own? No. Obama can veto it. Can the Republicans in the Senate overide his veto? No. Will the public blame Obama or the Republicans if there is no deal and the markets panic? They should blame Obama, but he controls the spin machines that the moderates listen to.

      What do we gain if we prevent a hike in the debt limit but incur both market instability and more sympathy for Obama the way Clinton played it in ‘96?

      The debt ceiling is not the goal. It is only one tactic. 2012 is the goal. Defeating Obama is the only thing that matters. We don’t control the Senate. Thus we cannot force Obama’s hand unless we have something to threaten him with. What do we have? He doesn’t care about America or our capitilist system. Chaos is his friend. We have to find a way to get through this without making our future worse. That might mean a strategic retreat, like we did in the Philipines. It sucked, but we surviuved to come back and kick *** a**.

      Report Post » Islesfordian  
    • NWalters78
      Posted on July 14, 2011 at 3:28pm

      Agreed, we need to ditch Elmer Fudd McConnell. We have these libs in a position to back the crap off, and the RINOs and GOP jellyspines wanna cave. Talk about snatching defeat from the jaws of victory. Yeah, the Tea Party and real Americans elected some leaders, but we have a loooooong way to go getting the opposition cohesive enough to counter Odumbutt.

      In regards to Baby Barry whining and stomping off. Awwwww, someone call the Waaaaaaambulance!

      Sack up, Sotero. Politics is a grown ups profession. Go play games back in Chicago where you belong.

      Report Post » NWalters78  
    • USAMama
      Posted on July 14, 2011 at 4:10pm

      Islesfordian:

      What the repubs need to do is pass exactly what they want to and send it to the Senate. Let the Dems in the Senate either pass it or not. If they dont it’s their problem now, if they do it goes to Obama. Let him pass or veto, if he vetoes it’s HIS decision and HIS alone. That’s what they would do to us, why are we so afraid of having spines? JUST DO IT! Let them be the ones to take responsibility.

      Report Post » USAMama  
    • 1stzookid
      Posted on July 14, 2011 at 4:31pm

      Agreed

      Report Post » 1stzookid  
  • NotFooled
    Posted on July 14, 2011 at 10:15am

    Obama is wrong and he knows it. Everyone in that room knows it, even his cronies. He’s just pissed because the people are not bowing down to him anymore. What a baby….

    You ever had a boss that no matter what he did the decision they made was just idiotic. That’s Obama…

    Worst President ever. Carter is now in second place just in front of FDR. 18 more months, Thank God!

    Report Post » NotFooled  
    • GIDEON612
      Posted on July 14, 2011 at 10:26am

      And he has the nerve to criticize the house leader for crying, which is a shame in itself.
      We need warriors that have the armor of God on and not worried about what anyone but God thinks of them.

      Report Post » GIDEON612  
    • Doc Freeman
      Posted on July 14, 2011 at 1:01pm

      HAVE YOU SEEN THIS?

      Our Petulant Child President July 13, 2011

      This isn’t a surprise to anyone who has been playing attention to our child president over the past three years. The Obama administration has been a veritable Mecca for narcissism and incompetence from the time Obama took the oath of office.
      Now, for the first time since taking office, Obama is forced to make a decision that entailed personal risk. It isn’t a pretty sight.
      http://www.redstate.com/streiff/2011/07/13/our-petulant-child-president/

      IF MY CHILD DID THIS HE WOULD BE GROUNDED, SPANKED, AND NO TV FOR AT LEAST A MONTH, IN THIS CASE NO GOLF FOR SIX MONTHS SINCE HE IS OLD ENOUGH TO KNOW BETTER.

      Report Post » Doc Freeman  
  • thegrassroots
    Posted on July 14, 2011 at 10:09am

    BHO needs to just shup up and do what he needs to do. BHO and his minion lemmings are the only ones who need to compromise; because, BHO, et al, are the only ones who are on the wrong side of integrity.

    Stand Firm, Republicans! Ignore BHO’s silly little temper tantrums! Call BHO’s Bluff! Draw That Line In The Sand And Force BHO To Walk Over It! If BHO doesn’t walk over it; any default is on BHO and him only!

    Report Post »  
    • Miguelito
      Posted on July 14, 2011 at 10:16am

      Obama no more than a man child bully. No leader at all!

      Report Post »  
  • kunman
    Posted on July 14, 2011 at 10:07am

    McConnell has no spine! He is no patriot and if I lived in his state, I would do everything I could to take his senate seat. It is time to stay your ground and defend the Country dammit. Its future is a stake. Cut spending! No new taxes. Pacifist have no business at the bargaining table.

    Report Post »  
  • positive1
    Posted on July 14, 2011 at 10:07am

    Through “Executive Order” will the President impose such financial measures as if a Dictator or Emperor, as if the Congress is irrelevant, If financial freedom and liberty should fail??? or, if we are attacked like 9/11 again, will the President put on a very formal military uniform like the Furor, Castro, Stalin, Mao??? and will martial law go into effect to the point you are allowed to only stay on paved public roads, go to the government stores, government gas stations, government jobs, government schools? no trips to the mountains, lakes. beaches, rivers and/or SUN UP TO SUN DOWN PUBLIC ELECTRICITY ONLY out of fear of WE THE PEOPLE? and if you break any of these martial laws, will you go to a FEMA/DEATH camp?

    Report Post »  
  • mikenleeds
    Posted on July 14, 2011 at 10:07am

    Run out the 14 million illegals and we d save a ton of money since they all live on food stamps/welfare/Medicaid/and section 8 housing and they don t pay a penny in taxes

    Report Post » mikenleeds  
  • workinghard
    Posted on July 14, 2011 at 10:06am

    Finally, he speaks the truth: enough is enough, now leave and don’t come back.
    Does anybody find this confusing? We spend $1.5 trillion more than we have each year and they are talking about $4 trillion over 10 years? Why not $1.5 trillion now? Are we all just supposed to be too stupid to figure out they aren’t really doing anything?

    Report Post »  
    • Islesfordian
      Posted on July 14, 2011 at 12:50pm

      Obama’s going to do what he wants if he has the power. Does he have the power? Do we have any real power to stop him? I don’t think so. But we can TRY to stop him, which may be worse, because he can play that against us in the media the way Clinton did. I hated the McConnell plan when I heard about it, but it may in fact be a pragmatic making a silk purse out of a sow’s ear. If Obama is going to get the debt ceiling raised by hook or by crook, and the public doesn’t like the idea very much, why not let him OWN IT? There won’t be anything he can pin on us. No Govt. shutdown, no default or market panic as a result of our “stubborn ideological intransigence”. The continuing debt will be all on him as we move into 2012.

      If we can’t stop him why let him dirty us with his sh*t? The goal is getting rid of him. Isn’t it?

      Report Post » Islesfordian  
  • hottips2011
    Posted on July 14, 2011 at 10:06am

    This behavior from: the leader of the free world
    the smartest man in DC
    the man with the laser-like focus on jobs
    the man that got Osama Bin Laden
    the greatest constitutional scholar of all time
    the most prolific golfer ever elected as potus
    on and on ad nauseum………

    Dear Mr. President, Richard Nixon resigned, so can you. Go ahead, you’ll feel better, and we will too!

    Report Post » hottips2011  
    • bestartist
      Posted on July 14, 2011 at 2:22pm

      And Just think Mr. Prez. you will have then, finally, create at least one job ….

      Report Post » bestartist  
  • TheLeftMadeMeRight
    Posted on July 14, 2011 at 10:05am

    The deficit reduction over 10 years is a SCAM and the Dems have played it before. They agree to whatever in exchange for future cuts that never happen.

    FOR ONCE DO THE RIGHT FN THING AND HOLD FIRM,
    DEMAND A BALANCED BUDGET ADMENDMENDMENT OR NOTHING AT ALL!

    THE REPUBLICANS HOLD ALL THE CARDS, DON’T SCREW THIS ONE UP OR IT’S HELLO THIRD PARTY (T-PARTY) AND HELLO 2ND TERM FOR THIS NIGHTMARE.

    DO THE RIGHT THING AND DON’T WORRY ABOUT YOUR FN RELECTION.

    Report Post » TheLeftMadeMeRight  
  • psadie
    Posted on July 14, 2011 at 10:05am

    Oh, Boo (friggin) Hoo! They don’t need him at the debt meeting; he doesn’t know what the hell he is doing and neither do his BRILLIANT economists. Uh, who is left now, right Timmy the FOOL. 2012 can’t come soon enough GET THE HELL OUT NOW.

    Report Post »  
  • twistin
    Posted on July 14, 2011 at 9:56am

    OK, this time if it’s not done by 4.30 pm, Barney Frank’s teeth will fall out. Oh, wait.

    Report Post »  
  • Earningit
    Posted on July 14, 2011 at 9:55am

    Obama needs to go, end of story

    Report Post »  
  • constitutionaldirective
    Posted on July 14, 2011 at 9:53am

    UNFORTUNATELY… Oblabba’s “Common Ground” includes revenue generation.. NOT gonna happen.. or at least BETTER NOT HAPPEN!

    Report Post » constitutionaldirective  
  • twistin
    Posted on July 14, 2011 at 9:52am

    Just KEEP walking string bean.

    Report Post »  
  • dcarva
    Posted on July 14, 2011 at 9:45am

    I can’t take this POTUS anymore. Why has he not been impeached yet. Makes no sense…

    Report Post »  
  • blackcatrun
    Posted on July 14, 2011 at 9:42am

    This is nuts. the democrats waited over two years for this to happen. Now when the reality hits the bottem line the obama regiem takes to walking out of a meeting. Well tough nuggets congress. Republicans draw up a short bill and vote on it send it to the senete let old dirty harry handle the problem firmly in his lap. Dont back down dont walk out dont comprimize. Just draw up a bill with all the cuts in spending we need and vote it up or down send it off to the senete.

    Report Post »  
  • Carbine
    Posted on July 14, 2011 at 9:39am

    What an arrogant, empty punk Barry is!

    Report Post »  
  • imreddog
    Posted on July 14, 2011 at 9:37am

    Oh, boo hoo, they won’t let me tax and spend this country into oblivion. Don‘t they know that I’m black and that I can’t take rejection?
    Republicans, Conservatives… stick to your guns! No more taxes! Don’t raise the debt limit! THAT IS WHAT GOT US INTO THIS SITUATION IN THE FIRST PLACE.
    The damnable Demoncraps had the opportunity to pass a budget when the had total control of the House, Senate and Presidency, but they refused. They want the Republicans to be co-conspirators in the destruction of this country. Pi$$ on the Demoncraps… especially the “dumb as a rock” idiot in the White House.
    It appears to me that Obama (and his handlers) are trying to get the people to openly revolt. If that should happen, they will realize too late that that was a very big mistake.

    Report Post »  
  • k_prig
    Posted on July 14, 2011 at 9:34am

    “you can’t save the world, if there’s no world to save”

    the dems need to realize, that if the economy collapses, they won’t be able to save anyone with their social programs… so what they need to do is accept cuts to social programs now and then fight to get them back later.

    (I’m not a fan of social programs, privatize!, but dems actually think they work)

    Report Post »  
  • mankind7375
    Posted on July 14, 2011 at 9:34am

    He is supposed to lead and yet he is throwing a temper tantrum and leaving? What kind of leader is this?

    Report Post »  
    • momprayn
      Posted on July 14, 2011 at 10:26am

      Uh…..it‘s because he’s not the “leader” type. He’s not used to this. Not only is it bc he’s never had executive experience – he’s incompetent, clueless – puppet. He was chosen by the Dems/radical Socialists/Marxist ppl a long time ago to be “groomed” to run and hopefully be Pres. so they could finally instigate their evil agenda that they’ve been planning & wanting for decades. They got him through college, committed all kinds of fraud & coverups so they wouldn’t get caught. Rumor has it that Geithner (a fellow accompllice) & crew manipulated the banks, etc. to actually bring on the economic disaster in 2008 (blame it all on Bush, etc) when they saw that McCain was ahead in the polls & figured that would help them — it worked. So now we’ve been seeing the results these last couple of years – having all their radical friends in “high places” to protect Obama. He is only their “front man” – the radicals like Valerie Jarrett are the ones that give the orders, strattegies. Obama wants nothing to do with any of it – he just reads their scripts they give him. All he wants to do is enjoy all the perks of being the Pres., play golf, etc. – those are his “rewards”. He’s always been coddled. Now he has to be involved with real “grown-up” stuff and he is unable to handle it. He’s a very, very sick man and a criminal like the rest of the Admin. & all need to be in jail in my estimation. Pray for Divine intervention & TRUTH AND JUSTICE !!!!!

      Report Post »  
    • jabazz
      Posted on July 14, 2011 at 12:04pm

      momprayn,

      Amen.
      You hit the nail on the head.

      Report Post »  
  • robinakilt
    Posted on July 14, 2011 at 9:31am

    All hail King Barrack Hussein Obama! This emperor has no clothes!

    Report Post » robinakilt  
  • FORLORNHOPE
    Posted on July 14, 2011 at 9:29am

    Not raising the debt ceiling will destroy the economy… but continued spending at post 2008 levels which is equal to our gross domestic product is ok with moody

    Report Post »  
  • LameStreamMedia
    Posted on July 14, 2011 at 9:26am

    Hope the Republicans don’t fold on this Obama Drama meant to appeal to the Independents for election purposes.

    This is just a ploy and a Public Relations stunt.

    Report Post »  
    • Islesfordian
      Posted on July 14, 2011 at 12:59pm

      Yeah, but what if it’s an EFFECTIVE ploy? What if we know we are being played for suckers so Obama can plame us? How can we stop him? Seriously. Do you really trust the public to get it if it starts hitting the fan? You know Obama isn’t above throwing wrenches in the system to ensure a panic that he can blame on us.

      It‘s like dealing with terrorists holding hostages who don’t care if they die and we don’t have SWAT snipers on the roof yet. We have to stall for time.

      Report Post » Islesfordian  
  • supertas
    Posted on July 14, 2011 at 9:19am

    Wah, Wah, those Republicans are being so mean. Michelle, bring that big a$$ and huge thighs over here so I can lay my head on them while I suck my thumb. What a freaking bottle sucker.

    Report Post »  
  • NEAF
    Posted on July 14, 2011 at 9:18am

    I don’t care anything that he say. He is a a bully. He doesn’t own this country. WE THE PEOPLE, own this country.

    Report Post » NEAF  
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