House passes Republican deficit plan, July 29 2011, Congress to pass a balanced budget amendment to the Constitution

House passes Republican deficit plan, July 29 2011, Congress to pass a balanced budget amendment to the Constitution

From the Chicago Tribune July 29, 2011.

“The House of Representatives approved a Republican deficit plan on Friday that has no chance of becoming law but could pave the way for a last-ditch bid for bipartisan compromise to avert a crippling national default.

With time running short ahead of a Tuesday deadline to raise the debt ceiling, the Republican-controlled House pushed the deficit-cutting plan through by a vote of 218-to-210 after the party’s leaders reworked the bill to appease anti-tax conservatives in their ranks.

The legislation, denounced earlier by President Barack Obama who had admonished lawmakers to stop wasting time and find a way “out of this mess,” was doomed to defeat in the Democratic-led Senate where all of Obama’s Democrats have vowed to vote against it later on Friday.

But the House vote broke weeks of political inertia and opened the door to talks on a compromise that could pass Congress before Tuesday. That is the deadline to lift the $14.3 trillion U.S. debt limit or else render the world’s largest economy unable to pay all of its bills.

Delays and procedural hurdles will now make it all but impossible for Congress to strike a deal and send it to Obama’s desk until the 11th hour, injecting a dangerous level of uncertainty into already rattled global financial markets. A late deal also raises the prospect of the United States losing its top-notch AAA credit rating.

Both sides have been at impasse for weeks with lawmakers locked in a blame game that has brought the country to the brink of an unprecedented default, which could plunge America back into recession and trigger economic turmoil globally.

World leaders have been stunned by the dysfunction in Washington. World Bank President Robert Zoellick on Friday said the United States was playing with fire.

America’s largest foreign creditor, China, has repeatedly urged Washington to protect its dollar investments and its state-run news agency on Friday said the United States had been “kidnapped” by “dangerously irresponsible” politics.”

Read more:

http://www.chicagotribune.com/business/sns-rt-us-usa-debttre7646s6-20110705,0,7498607.story






Related News

  • Schippers Exposes Impeachment Debacle, David Schippers interview by Insight Magazine December 8, 2000, Democrat Schippers book Sellout
  • Rosemary Jenks testimony April 30, 1997 before the Immigration and Claims Subcommittee, Judiciary committee of the US House of Representatives
  • Starr says Clinton ‘chose deception’, Clinton lied under oath obstructed justice and attempted to thwart not just Paula Jones’ sexual harassment lawsuit but Starr’s grand jury probe as well, House Judiciary Committee, CNN November 18, 1998
  • Judicial Watch finds pattern of lying by Clinton allies, Stephanopoulos sanctioned, Carville rebuked by court, Stephanopoulos warned on national TV of “Ellen Rometsch strategy” by “White House allies” to “bring down” perceived adversaries of Clinton Administration, Judicial Watch August 20, 1998
  • The Podesta cover-up, Top Clinton aide fighting impeachment, Implicated in cover-up of sale of Clinton Commerce trade mission seats for campaign contributions, Nolanda Hill testified in sworn affidavit and in open court, Judicial Watch September 23, 1998
  • Why is Clinton White House afraid of Dolly Kyle Browning?, Paula Jones witness prepared to testify in senate trial, Browning can testify to Clinton perjury threats and obstruction of justice, Judicial Watch January 11, 1999
  • Declaration of Dolly Kyle Browning March 6, 1998, Paula Jones’s lawyers released, Sexual relationship with Bill Clinton from mid-1970’s until January 1992, 1994 high school reunion encounter, “I agreed not to tell the true story about our relationship”
  • Browning Vs Clinton, Plaintiff’s expedited motion for leave to perpetuate testimony of threatened witnesses, Case No. 98-1991, Gennifer Flowers, Juanita Broaddrick, Linda Tripp, Monica Lewinsky, Paula Jones, Elizabeth Gracen, Kathleen Willey, Julie Steele, Sally Perdue
  • Leave a Reply

    Your email address will not be published. Required fields are marked as *

    *