House Speaker John Boehner (R-OH) and the Senate Majority Leader Harry Reid (D-NV) "were preparing separate backup plans to raise the nation's debt ceiling on Sunday, after the leaders were unable to end an increasingly grim standoff over the federal budget," the New York Times reports.
"The contours of Mr. Boehner's backup plan were far from clear, but it seemed likely to take the form of a two-step process, with a short-term increase in the debt limit along with about $1 trillion in cuts, an amount the Republicans said was sufficient to clear the way for a debt limit increase through year's end."
Reid is calling this plan a non-starter and is offering instead a larger plan.
"In an effort to reach a bipartisan compromise, we are putting together a $2.7 trillion deficit reduction package that meets Republicans' two major criteria: it will include enough spending cuts to meet or exceed the amount of a debt ceiling raise through the end of 2012, and it will not include revenues. We hope Speaker Boehner will abandon his 'my way or the highway' approach, and join us in forging a bipartisan compromise along these lines."
Remains to be seen what the details are on that little plan. We'll see. Meanwhile, the right's projection machine is in full swing as over at Newt's place, President Obama's Friday press conference was apparently proof that he's "arrogant", "mad", "angry", "crazy", "off the rails", "delusional", the "architect of the New Depression", having a "nervous breakdown", and "needs to be controlled and neutralized".
Glad to see Obama Derangement Syndrome is the constant that never changes.
No comments:
Post a Comment