Federal government still has no debt plan as the deadline looms

POSTED: Wednesday, July 27, 2011 - 3:00pm

UPDATED: Tuesday, August 16, 2011 - 1:02am

The deadline is Tuesday, but in Washington there's no deal on the debt ceiling, and a major House vote had to be put off until tomorrow.

Speaker John Boehner scrambled to redo his plan, the day after he talked it up, but it fell short.

It didn’t hit the $1.2 trillion in savings he initially thought, but $850 billion.

The congressional budget office ran the numbers, and found the Democratic Senate plan slashed 2.2 trillion.

A deeper cutting tea party plan cannot pass said Democrats. Democrat Harry Reid urged to "ignore the extremists and meet in the middle of the road."

But across the road from the capitol, the tea party rallied.

Republican Rand Paul said, "The Boehner proposal will add seven trillion dollars to the debt over the next ten years. That is unacceptable and unsustainable."

With six days left, a senior republican staffer was caught urging the Boehner plan be defeated. GOP members were chanting fire him, fire him.

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One of the most talked about issues recently has been the increasing national debt. And they said that a popular feeling regarding how to fix it is to start taxing the wealthy at an increased rate. There aren't enough rich individuals to go around for taxing them to do a whole lot.

Source for this article: Taxing the rich to pay off national debt probably would not work.

Taking some risky and possible solutions could be applicable if we have the guts to face its consequences.

Since this "deal" is mot a compromise and only benefits the Republicans, I hope it fails and the nation defaults. The PEOPLE get screwed either way. I like President Obama but I don't understand why he always gives in to the Republican blackmail games. This all cuts deal will hurt our economy, kill jobs, not create a single job, and in 6 months we will just be where we are with this idiotic "Super Committee" having accomplished nothing. The Pentagon budget will get cut and Republicans will get what they are really after - killing Social Security and Medicare. It's a rotten deal for the PEOPLE either way - so filibuster it in the Senate and vote it down in the House.
Just do a clean raising of the debt ceiling bill with nothing attached to it and then work on spending cuts AND REVENUES separately. That committee would never happen in that scenario because Republicans really don't care about spending. They didn't care about it or the debt ceiling under Bush so why are they so obsessed with it now? They aren't. It is just a political game to distract us from job creation and restoring the economy and make us living from payday til payday and take
loans for people with bad credit
. They want America to fail to use as a sick political tool in 2012.

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