House Approves Republican Plan to Cut the Deficit

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Johnny Oxygen's picture
Johnny Oxygen
Status: Diamond Member (Offline)
Joined: Sep 9 2009
Posts: 1443
House Approves Republican Plan to Cut the Deficit

http://www.cnbc.com/id/43946958

 

With four days left before the US hits its debt limit, the House approved the Boehner debt-limit plan with more than the 216 votes necessary. It now goes to the Senate, wherei t is expected to be defeated.

The revised Republican plan includes tougher requirements on Congress to pass a balanced budget amendment to the Constitution and send it to the states for ratification, a long-time core demand of conservative Republicans who say it is the only way to control spending.

If the bill is rejected by the Democratic-led Seante, efforts would shift to a compromise plan.

For Boehner, that could mean drafting a deal that can win enough votes from Democrats in the House to offset the inevitable loss of support from Tea Party-affiliated Republicans.

President Obama told lawmakers to stop wasting time and find a way "out of this mess." The president called the Republican bill to raise the debt ceiling [cnbc explains] a waste of time but said the parties were not that far apart on spending cuts and they needed to strike a deal soon.

dshields's picture
dshields
Status: Platinum Member (Offline)
Joined: Oct 24 2009
Posts: 599
it is a sad story...

It is a sad story.  They are not cutting jack.

http://www.zerohedge.com/contributed/budget-debate-fraud

 

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