Debt Debate in Congress

[guido911]

Depends on your source I guess, Nate.

he House of Representatives took a symbolic vote against Senate Democrats' plan to raise the debt ceiling Saturday afternoon, as President Barack Obama huddled with Democratic leaders at the White House less than four days before the U.S. could begin defaulting on some obligations.

House Republicans brought up a version of Senate Majority Harry Reid's (D., Nev.) plan to increase the nation's borrowing authority into early 2013 using a procedural maneuver requiring it receive a two-thirds majority to pass. The House voted against the measure 173-246, though it was mainly a political gesture as both Democrats and Republicans plot their next moves ahead of the Aug. 2 deadline to raise the debt ceiling set by the Treasury Department.

[Emphasis added]. http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=201107301605dowjonesdjonline000274&title=us-house-votes-against-reid-debt-bill

I watched the House debate on this bill and a Mass. Dem McGovern referred to it as Reid's "latest" version. Who knows, and really, who cares. It was Reid's plan.

[guido911]

Rubio v. Kerry. If you have the time, watch it all. But the head to head was quite compelling, it begins around 6-8 minute point.

[guido911]

Well, with a possible deal on the debt ceiling having been reached, let the crying begin:

Liberals began tearing into President Obama and Democrats on Sunday, accusing them of caving to Republican demands even before final details of a debt ceiling agreement have been announced.

In a scathing statement based on early reports, MoveOn.org said the "debt deal has gone from bad to worse" and they called it "extremely troubling that it now appears that some Democrats are willing to give in to Republican demands to make this already disastrous plan worse for working families."

http://thecaucus.blogs.nytimes.com/2011/07/31/outcry-from-the-left-preceeds-debt-deal/?hp

It's coming from the right as well. In the law business, if at the conclusion of a settlement negotiation everyone is pissed, then objectively it's a decent deal.

[Teatownclown]

Well, with a possible deal on the debt ceiling having been reached, let the crying begin:
http://thecaucus.blogs.nytimes.com/2011/07/31/outcry-from-the-left-preceeds-debt-deal/?hp

It's coming from the right as well. In the law business, if at the conclusion of a settlement negotiation everyone is pissed, then objectively it's a decent deal.

Mud Pie II

Ingredients

2 cups chocolate cookie crumbs
4 tablespoons butter
1/2 cup white sugar
3 tablespoons water
1/2 cup heavy cream, scalded
4 tablespoons butter
4 (1 ounce) squares semisweet chocolate
1/4 cup unsweetened cocoa powder
4 tablespoons butter
3/4 cup brewed espresso
3/4 cup white sugar
1/4 cup light corn syrup
4 cups vanilla ice cream, softened
Directions

Combine chocolate wafer crumbs and 4 tablespoons butter or margarine. Press the mixture into the bottom and partially up the sides of a 9 inch springform pan.
To Make Caramel Sauce: In a saucepan, combine 1/2 cup sugar and 3 tablespoons water. Cook over low heat, stirring constantly, until sugar is completely dissolved. Bring to a boil, and continue boiling without stirring until the syrup turns a light amber. While the syrup is boiling, brush down the sides of the pan from time to time to prevent crystal from forming. Remove the pan from the heat, and stir in hot cream. Continue stirring, over low heat if necessary, until all for the caramel is dissolved into the cream. Stir in 4 tablespoons butter or margarine, and set aside to cool slightly. Pour warm caramel sauce over the crust. Freeze until firm, about 30 minutes.
To Make Espresso Fudge Sauce: Combine chocolate, cocoa, 4 tablespoons butter or margarine, and espresso in a saucepan. Stir over low heat until smooth. Add 3/4 cup sugar and corn syrup; increase heat to medium, and stir until the sugar dissolves. Increase heat until the sauce reaches a low boil. Cook without stirring until the mixture thickens, 12 to 15 minutes. Remove espresso fudge sauce from the heat, and cool to room temperature. Pour 1 cup of the sauce over the frozen caramel layer, and return the crust to the freezer. Keep remaining sauce just warm enough so that it remains pourable.
Spread the softened ice cream over the caramel layer. Return pie to the freezer until firm, about 1 hour. Pour the remaining fudge sauce over the ice cream layer; freeze until firm, about 2 to 3 hours. Wrap a hot wet towel around the springform pan for about 2 minutes, then remove the sides of the pan.

Eat it....

[Gaspar]

The agreement they have come to re-establishes discretionary spending caps that were allowed to expire in 2002.

The Clinton era cork may be re-inserted.

Ugggh. . .sorry, I just realized that I used "Clinton" and "re-inserted" in the same sentence.

[Conan71]

Paul Ryan goes off on government accounting tricks.

http://www.mediaite.com/tv/rep-paul-ryans-response-to-defense-cuts-lets-pass-a-bill-to-cover-the-moon-with-yogurt/

That Ryan is just a teabagging demigod.  Can't believe you'd even quote him, Greedo. 

[Conan71]

Let's see how we can blame this on Obama.

You mean other than his typical utter lack of leadership?

[Townsend]

Congressional leaders are acting like heroes.  "Yay for us, we saved you."

They are awesome aren't they?

[Conan71]

Congressional leaders are acting like heroes.  "Yay for us, we saved you."

They are awesome aren't they?

Those d-bags just kicked the can down the road until after 2012. 

[we vs us]

Those d-bags just kicked the can down the road until after 2012. 

$2.4 T isn't anything to sniff at.  That's still real reduction no matter how you slice it.  Is it enough?  No, but putting the next debate into 2012 ensures that the economy has a little time to catch its breath and that debt reductions will still be a major piece of the election.  There's no way it's not on people's radar now. 

I guarantee you, too, that the Tea Party will very quickly come to see this is a success (as they should, as much as it pains me to say it), and they will be able to leverage it during election season.

And if that doesn't make you feel better, we do a budget every year, give or take, and the next one's coming up in a couple of months.  If you don't think the Tea Party's going to demagogue THAT one, too, I've got some swampland to sell you. 

[Conan71]

$2.4 T isn't anything to sniff at.  That's still real reduction no matter how you slice it.  Is it enough?  No, but putting the next debate into 2012 ensures that the economy has a little time to catch its breath and that debt reductions will still be a major piece of the election.  There's no way it's not on people's radar now. 

I guarantee you, too, that the Tea Party will very quickly come to see this is a success (as they should, as much as it pains me to say it), and they will be able to leverage it during election season.

And if that doesn't make you feel better, we do a budget every year, give or take, and the next one's coming up in a couple of months.  If you don't think the Tea Party's going to demagogue THAT one, too, I've got some swampland to sell you. 

Wevus, I'd feel a whole lot better about it if it were more than smoke and mirrors.  I don't want anyone using what should be common sense for gains in the next election.  I'm sick and freaking tired of the end game being which party wields the power instead of doing right by the American public.

I'm really shocked that a balanced budget amendment seems to be about as popular as a fart in church.

[JCnOwasso]

We vs Us, I agree that they will view it as a victory, but I am not 100% sure how the American people view it.  Regardless of who was the victor in this "debate"; 535 people(536 if you include the president, which I think we should) played Russian Roulette with the Economy for the purposes of political posturing.  I think it is great that we cut spending, but I would have liked to see some changes in the revenue stream.  We have a massive debt, and cutting spending will put us in the right direction with paying it off, but rather than forking out tons on interest, I would like to see some revenue increases (get rid of Bush tax cuts, put in a toll booth to get into DC, SOMETHING).  Put in something were it is a tiered approach and the more we get rid of the debt, the cuts get slowly reinstated.  You give the big business and high earners a light at the end of a tunnel.  If you just tell people we are going to permanently get rid of the tax cuts, they will balk.  Say that it is a temporary thing, it is more likely that you will have a greater base of support.  

[Gaspar]

And if that doesn't make you feel better, we do a budget every year, give or take, and the next one's coming up in a couple of months.  If you don't think the Tea Party's going to demagogue THAT one, too, I've got some swampland to sell you. 

You are correct.  They have proven their steel, and will continue to add that pressure to every upcoming debate.  

The dragon is now missing a scale, and until there is a popular progressive movement that can provide a compelling philosophy, the Tea Party will continue to go for the beast's heart.

Once we achieve a period of prosperity again like the early 00s, the pendulum will swing and the liberal advance will be attractive again.

It's just too hard to sell spending right now, and I must admit, that makes me happy.

[Townsend]

They have proven their steel, and will continue to add that pressure to every upcoming debate.  

The dragon is now missing a scale, and until there is a popular progressive movement that can provide a compelling philosophy, the Tea Party will continue to go for the beast's heart.

What the hell was that?

[Hoss]

What the hell was that?

I think he's channeling shadows...