Reid postpones vote to “give everyone as much room as possible” for deal; Update: $2.8T in cuts and debt-ceiling boost, no tax hike?

posted at 11:45 pm on July 30, 2011 by Ed Morrissey

The late breaking news from the nation’s capital tonight is that the late-breaking news from the capital early tomorrow morning has been postponed:

Senate Majority Leader Harry Reid (D-Nev.) announced shortly after 10 p.m. Sunday that he would postpone a vote on his bill to raise the debt limit to give negotiators at the White House more time to work.

He said the Senate would vote on his plan at 1:00 p.m. Sunday, instead of 1:00 a.m., as was originally scheduled. …

“I believe we should give everyone as much room as possible to do their work,” he said. “I spoke to the White House, quite a few times this evening, and they’ve asked me to give everyone as much time as possible to reach an agreement if one can be reached.”

The Senate adjourned at 10:13 p.m. Saturday and will reconvene at noon Sunday.

Translastion: The remarks by John Boehner and Mitch McConnell earlier today appear to have been accurate.  CBS’ Mark Knoller had been tweeting earlier that Dan Pfeiffer was poo-pooing the notion that a deal was brewing, but that he has “covered WH long enough to know when pool kept late on Sat night something’s going on.”  And as I predicted earlier tonight, the first stage may be a very short-term debt-limit increase to get time to finalize a deal:

If they get a tentative deal, Pres Obama will agree to short term extension of debt limit to allow time to enact deal.

If Obama told Reid to extend the vote for another 12 hours, then the White House must figure that they’re close to a deal.

Update: Jimmie Bise links to ABC, which reports the tentative parameters of the deal:

  • Debt ceiling increase of up to $2.8 trillion
  • Spending cuts of roughly $1 trillion
  • Vote on the Balanced Budget Amendment
  • Special committee to recommend cuts of $1.8 trillion (or whatever it takes to add up to the total of the debt ceiling increase)
  • Committee must make recommendations before Thanksgiving recess
  • If Congress does not approve those cuts by late December, automatic across-the-board cuts go into effect, including cuts to Defense and Medicare.

So Obama gets all of the increase in one fell swoop, but no tax hikes, apparently, plus a total of $2.8 trillion in reductions for projected spending (none of the plans actually made cuts in spending) in areas guaranteed to hurt both parties.  The vote on the BBA is a win for Boehner, but only in the sense that Republicans get Democrats on the record for opposing it.  It’s a deal we could have reached two weeks ago, but were never going to reach until time ran out.

Update II: Via Jeff Dunetz, National Journal’s Major Garrett also gets a similar story from his sources, but the news is a little better:

  • 2.8 trillion in deficit reduction with $1 trillion locked in through discretionary spending caps over 10 years and the remainder determined by a so-called super committee.
  • The Super Committee must report precise deficit-reduction proposals by Thanksgiving.
  • The Super Committee would have to propose $1.8 trillion spending cuts to achieve that amount of deficit reduction over 10 years.
  • If the Super Committee fails, Congress must send a balanced-budget amendment to the states for ratification. If that doesn’t happen, across-the-board spending cuts would go into effect and could touch Medicare and defense spending.
  • No net new tax revenue would be part of the special committee’s deliberations.

I expect plenty of hyperventilating at the term “Super Committee,” but it’s basically the kind of ad hoc committee that Congress can authorize at any time.  It sounds a lot like the BRAC process used by Congress to identify military bases for closure.  The prohibition on net tax revenue gains is a big, big win for Republicans if it holds.  I should note that Jimmie Bise in his post believes that the second round of cuts might be actual cuts; if so, then this is an even bigger win.

Note too that the second round of cuts appears to be guaranteed; if the Super Commission can’t agree on specific and precise reductions, then an across-the-board cut goes into place.

Update III: Jen Rubin hears the same deal from the offices of two “senior” Republicans on the Hill.

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Or not….

NickDeringer on July 30, 2011 at 11:47 PM

The GOP will betray you

True_King on July 30, 2011 at 11:51 PM

Ha ha ha ha… I hate to say “I told you so” but what the heck, I TOLD YOU SO!!

Yep, the strategy is becoming clearer and clearer with every passing day:

Step 1: Reid and Boehner get together to strategize how best to pass a bill that increases the debt limit without making any meaningful spending cuts. CCB is taken off the table.

Step 2: Boehner introduces a sham proposal and forces his caucus to get their a–es in line and pass it.

Step 3: Reid takes Boehner’s bill, strips out some cuts, adds more sham cuts and some “revenue” increases; and sends it back to Boehner.

Step 4: Boehner gives a middle finger to his conservative base and passes the modified bill with the support of RINO and Democrats.

Conservatives/Tea partiers and the country get the shaft while the big Govt. Republicans and Dems are free to continue living high on the hog.

TheRightMan on July 28, 2011 at 1:56 PM

Step 3 is complete, now on to Step 4! Bend over, my fellow “hobbits”, our Big Govt. overlords need their spending fix pronto.

Lesson learnt: The Tea Party revolution will mean squat if the entire leadership of the GOP is not rid of the entrenched RINOs/Big Govt. Repubs.

TheRightMan on July 30, 2011 at 11:54 PM

We win.

Red Cloud on July 30, 2011 at 11:55 PM

terrible. downgrade coming

let it burn

Aquateen Hungerforce on July 30, 2011 at 11:57 PM

In other words, a short term debt increase and a new deal from the demorats that will be so onerous as to make you puke out everything you have ever eaten in your life.

Bishop on July 30, 2011 at 11:57 PM

“Special committee” = partisan hacks skilled in the art of fantasy bookkeeping.

Viva!! Everybody dance!!

NickDeringer on July 30, 2011 at 11:57 PM

I don’t know. The $2.8 trillion debt ceiling increase is a lot larger than I’ve ever heard of. That’s not tenable and I don’t care how much they cut. It’s a fracking blank check.

Apologetic California on July 30, 2011 at 11:59 PM

Yeah, we have no life and are reading Hot Air late on Saturday night.

Bill C on July 31, 2011 at 12:00 AM

I don’t know. The $2.8 trillion debt ceiling increase is a lot larger than I’ve ever heard of. That’s not tenable and I don’t care how much they cut. It’s a fracking blank check.

Apologetic California on July 30, 2011 at 11:59 PM

Yes you do know. Every misgiving you have is reasonable.

gryphon202 on July 31, 2011 at 12:01 AM

On the upside: Yep, we got the Democrats talking about cuts. There is no policy alternative that’s being discussed today that isn’t about cuts. We beat them there.

Apologetic California on July 31, 2011 at 12:01 AM

OK granted this includes an increase in the debt ceiling and granted I might be an idiot, but where’s the bad in this for the GOP?

It’s all cuts
There’s no raises in taxes
There must be a BBA vote
The committee must show actual cuts by thanksgiving

What am I missing that’s bad for us? This looks like Obama and Reid gave up nearly everything

Defector01 on July 31, 2011 at 12:01 AM

Ed, how can we claim that there’s no tax hikes? Does this “deal” assume the Bush tax cuts ending? If so, then taxes will go up? Right? Also, what form of the BBA is being voted on? Will it be the stronger version that was passed with CCB? Or will it be the version that was passed with Boehner 2.0? Or will it be an even weaker third variation. There’s not enough in the ABC rundown to know what’s really going on. Details details details. We need them.

Weight of Glory on July 31, 2011 at 12:01 AM

The GOP will betray you

True_King on July 30, 2011 at 11:51 PM

El_Terrible on July 31, 2011 at 12:02 AM

On the upside: Yep, we got the Democrats talking about cuts. There is no policy alternative that’s being discussed today that isn’t about cuts. We beat them there.

Apologetic California on July 31, 2011 at 12:01 AM

Every time I talk about my favorite 2012 presidential candidate, I get told that “a moral victory isn’t a victory.” Doesn’t the same principle apply to debt ceiling debates?

gryphon202 on July 31, 2011 at 12:02 AM

Phooey.

Philly on July 31, 2011 at 12:02 AM

Yeah, we have no life and are reading Hot Air late on Saturday night.
Bill C on July 31, 2011 at 12:00 AM

Eh, I lived life pretty good today. Right now I’m just feeding my insatiable night owl, and the crap on tv at this hour I wouldn’t watch your your eyes.

Bishop on July 31, 2011 at 12:03 AM

2.8T is NOT a compromise…it’s putting a shotgun to the economy and pulling the trigger. “If you survive that, we’ll do what we can to put ya back together buddy.”

Well, at least the immigration problem will be solved. Once the economy tanks and chaos ensues, people will probably be fleeing the country.

Pattosensei on July 31, 2011 at 12:03 AM

To Allen West and the other turncoats: How does it feel to be used and thrown away to the side? Hope you sleep better tonight knowing you all sold us into a future of greater debt and nothing much to show for it.

I said this in an earlier post:

Boehner’s strategy all along was to get conservatives/Tea Partiers to sign on to his proposal (Step 2 of the plan I outlined in my comment @ 6:30pm). That stage was the critical stage!

If conservatives/Tea partiers had refused and the bill had failed, we would have had CCB and Reid’s plan as the only plans on the table. The ineveitable compromise would then have benefited us and we would have obtained either BBA and/or a serious cap on future spending from it.

There is not a lot of difference between the cuts contained in Reid’s bill and Boehner’s bill. So, guess what? When the compromise bill makes its way into the House, it will be much easier to paint conservatives/Tea partiers who refuse to vote for it as obstructionists and hardliners.

The media will harp on the fact that you voted for most of it the first time so why not a second time?

The changes will be as follows:

Tier 2 of Boehner’s plan will be replaced with something resembling McConnell’s blank check to Obama to raise the limit at his whim by proposing sham cuts that cannot be overturned if vetoed. Or they might even increase it beyond 2012.

TheRightMan on July 30, 2011 at 6:50 PM

TheRightMan on July 31, 2011 at 12:03 AM

What am I missing that’s bad for us? This looks like Obama and Reid gave up nearly everything

Defector01 on July 31, 2011 at 12:01 AM

That’s what they want you to believe. Understand that if Reid and Obama aren’t pitching a sh!t fit, it’s probably bad for America.

gryphon202 on July 31, 2011 at 12:03 AM

Here’s why we win with this.

A) The debt limit was always going to be raised. Always. Don’t kid yourself on this, government spending doesn’t turn on a dime.

B) Obama looks like a complete dope if this gets portrayed accurately – he never had a plan and his only pathetic plea (for the debt limit problem to go away until after the election) was given away for pretty much everything we wanted – cuts, with no tax increases. You can dither all you want about the size of the cuts, the fact of the matter is, we’re still dealing with a hostile Senate and White House. Take what we can get, and display exactly why conservatives need to be in control of those elements next year.

A government shutdown and/or a default was always going to get blamed on the GOP. Obama hasn’t displayed anything but a weak backbone and a blatantly political demeanor throughout this whole process. He’s done.

Red Cloud on July 31, 2011 at 12:04 AM

Raise the debt ceiling on a promise of cuts and such?

A promise?

Are we all enablers…the drunk “promises” to stop drinking…the abusive spouse promises to stop beating…the reprobate teen promises to clean up his act? And we go along with them? Promises mean absolutely nothing…nothing…empty words…the cheapest commodity in the world.

We got had back in 1984 when “amnesty” was first announced coupled with a Congressional “promise” to secure the border and revamp legal immigration…and 30 years later…zip.

Unless immediate cuts equal to or exceeding the amount of the increase in the debt ceiling are made the law of the land the minute this bill is signed into law…we got nothing.

coldwarrior on July 31, 2011 at 12:04 AM

Right now I’m just feeding my insatiable night owl, and the crap on tv at this hour I wouldn’t watch your your eyes.

Bishop on July 31, 2011 at 12:03 AM

Diners Drive-ins and Dives just came on the Food Network. That’s good tv.

Weight of Glory on July 31, 2011 at 12:04 AM

Yeah, we have no life and are reading Hot Air late on Saturday night.

Worse, some of us are getting all worked up over what may only be a trial balloon.

Emperor Norton on July 31, 2011 at 12:05 AM

Here’s why we win with this.

A) The debt limit was always going to be raised. Always. Don’t kid yourself on this, government spending doesn’t turn on a dime.

B) Obama looks like a complete dope if this gets portrayed accurately – he never had a plan and his only pathetic plea (for the debt limit problem to go away until after the election) was given away for pretty much everything we wanted – cuts, with no tax increases. You can dither all you want about the size of the cuts, the fact of the matter is, we’re still dealing with a hostile Senate and White House. Take what we can get, and display exactly why conservatives need to be in control of those elements next year.

A government shutdown and/or a default was always going to get blamed on the GOP. Obama hasn’t displayed anything but a weak backbone and a blatantly political demeanor throughout this whole process. He’s done.

Red Cloud on July 31, 2011 at 12:04 AM

If you call this a “win,” I’d hate to see what your idea of defeat is. Unprincipled much?

gryphon202 on July 31, 2011 at 12:05 AM

Repost-Tweaked

Debt ceiling increase of up to $2.8 trillion

So we give Obama and extra Billion from the Reid Plan… Yeah… That’s going in the right direction…. We must drown before we can swim I guess…

Spending cuts of roughly $1 trillion

We are not going to invade Mars in 2021 so that takes care of the 1 Trillion cuts…

Special committee

What’s our record on Special Committee’s – 0 to 2.8 Trillion against…

automatic across-the-board cuts go into effect, including cuts to Defense and Medicare.

Obama & the Dem’s get to run in 2012 against those bastard Republican’s that are cutting Medicare & Military Pay in Decemeber… Cutting left and right like robots months after the “default-crisis” has been aborted….

I think we will have a better chance with a full default now then with this “automatic across-the-board cuts” to “Defense and Medicare.” in December 2011… Watch all the old folks re-elect Obama when those Medicare cuts go into effect…

We have no chance… No chance at all with this Republican suicide bill…

__________________________________________________________

Comrade Boehner doesn’t need them anymore… He just added 193 votes… So he can loose 193 votes before he needs those CCB & Tea Party crazy’s… And he has a lot more RINO’s then Tea Partiers by dozens…

So.. We are screwed…
__________________________________________________________

The deal vote in August won’t matter(The NYT is already back pedaling about default not being that bad of a crisis) in Dec. 2011 since the “default-crisis” has been aborted & they’ll say it wasn’t that big of a crisis… Cause it wont’ be in Dec. 2011… The Dem’s will try to pass show-vote bills cancelling the heartless & robotic “automatic across-the-board cuts” to our “Defense and Medicare.”

How do u think we are going to do in 2012 running on Automatic across-the-board cuts to our man & women in our military & to senior’s for X’max 2011 while “protecting” jet’s for Billionaires…

On Dec. 2011 the Republicans are either going to have get rid of the Automatic across-the-board cuts to our man & women in our military & to senior’s for X-Max… Or they will be guaranteeing Obama’s & Pelosis re-elections to the WH & to majority leader of the House… So Obama gets 2.8 Trillion for fake 1 Trillion cuts & a show-commission that won’t do squat…

The answer was CCB… And for Boehenr & the Republican leadership CCB was just a show-vote… Disgraceful…

Y314K on July 31, 2011 at 12:05 AM

Trust but verify

cmsinaz on July 31, 2011 at 12:06 AM

Worse, some of us are getting all worked up over what may only be a trial balloon.

Emperor Norton on July 31, 2011 at 12:05 AM

The very fact that this may be only a trial balloon does not speak well of the GOP’s collective intelligence. They should know 1000000 times over what the American people want and the lengths the American people will go to…

gryphon202 on July 31, 2011 at 12:06 AM

Facebook does not like Hot Air. I have to do one of those security code things everytime I do a share from here.

Connie on July 31, 2011 at 12:06 AM

That’s what they want you to believe. Understand that if Reid and Obama aren’t pitching a sh!t fit, it’s probably bad for America.

gryphon202

What in this compromise conforms with the liberal idea of big spending and high taxes? Yes debt ceiling raise bad, but there are no tax increases, there must be votes on REAL cuts and the BBA and entitlement changes. Where’s the bad?

Defector01 on July 31, 2011 at 12:07 AM

What in this compromise conforms with the liberal idea of big spending and high taxes? Yes debt ceiling raise bad, but there are no tax increases, there must be votes on REAL cuts and the BBA and entitlement changes. Where’s the bad?

Defector01 on July 31, 2011 at 12:07 AM

I think “Reid and Obama agreed to it” is enough to send up red flags for me. Your mileage may vary.

gryphon202 on July 31, 2011 at 12:08 AM

If you call this a “win,” I’d hate to see what your idea of defeat is. Unprincipled much?

gryphon202 on July 31, 2011 at 12:05 AM

What part of “we don’t control all three branches and thus can’t get everything we want” is difficult to understand? Keep blaming the people that were working to get you what you wanted, you’ll end up with more of the people who are working to get this country more of what we don’t need.

Red Cloud on July 31, 2011 at 12:08 AM

Not digging the special committee…it can’t be all defense and somethingo minuscule in entitlements

cmsinaz on July 31, 2011 at 12:09 AM

This ‘over 10 years’ stuff is just ridiculous.

$1.8 trillion is about what we’ll actually add to the deficit in ONE year – and they’re going to cut that much over 10 years? $1.8 trillion in cuts over a period in which the debt will increas by maybe 10 times that much?

LOL, why even bother, we’ll be defunct well before then.

Midas on July 31, 2011 at 12:09 AM

Update II: Via Jeff Dunetz, National Journal’s Major Garrett also gets a similar story from his sources, but the news is a little better:

Interesting. The way Fox presented the bullet points sounds much more rigid than what ABC presented. It does look better, but man! We’re going to have to go through this bill with a fine toothed comb. I hope our guys are prepared to read it cover to cover…

Weight of Glory on July 31, 2011 at 12:09 AM

What part of “we don’t control all three branches and thus can’t get everything we want” is difficult to understand? Keep blaming the people that were working to get you what you wanted, you’ll end up with more of the people who are working to get this country more of what we don’t need.

Red Cloud on July 31, 2011 at 12:08 AM

So what do you think the Republicans should have been doing while we did control all three branches of government between 2000 and 2006, genius? Spending INCREASED during that time, and drastically so. You’re assuming good faith where the Republicans have shown NONE. Try again.

gryphon202 on July 31, 2011 at 12:09 AM

I think “Reid and Obama agreed to it” is enough to send up red flags for me. Your mileage may vary.

I’m sure if Reid and Obama agreed to the “Flags for Orphans bill” that wouldn’t send up red flags. All it looks like is an 85% victory for the Republicans and the Tea Party.

Defector01 on July 31, 2011 at 12:10 AM

It’s all cuts
There’s no raises in taxes
There must be a BBA vote
The committee must show actual cuts by thanksgiving

What am I missing that’s bad for us? This looks like Obama and Reid gave up nearly everything

Defector01 on July 31, 2011 at 12:01 AM

You want to know what we lost?

1. A once-in-a-lifetime opportunity to push for real changes in the neverending spendalooza taking place in Washington.

2. Real cuts, a cap on future spending, and a balanced budget amendment.

nstead we got:

Sham cuts – the same type of cuts that Washington has been giving us since Reagan that never really touches the deficits/debt.

A vote on BBA that will certainly fail thanks to the radical Dems we have.

More spending, more debt, and Boehner/McConnell/Reid/Pelosi/Obama continue to live high on the hog. But you know, they will always tell us “That is the best we could do… Work your butts off and give us the White House and Senate and we really promise we will do it this time…” Suckers!

TheRightMan on July 31, 2011 at 12:10 AM

We win.

Red Cloud on July 30, 2011 at 11:55 PM

Who did?

FloatingRock on July 31, 2011 at 12:11 AM

Diners Drive-ins and Dives just came on the Food Network. That’s good tv.
Weight of Glory on July 31, 2011 at 12:04 AM

A crowd favorite at my place, but I have this habit of heading to the kitchen to stuff my face when I watch; bacon wrapped, deep fried bratwurst…..not good at this hour.

Bishop on July 31, 2011 at 12:11 AM

LOL, why even bother, we’ll be defunct well before then.

Midas on July 31, 2011 at 12:09 AM

All congressional budget projections are nothing more than trajectories – trajectories that will be changed by the next congressional budget. Want more cuts? Let’s get ourselves into a position to win in 2012. Then we can make the trajectory even better, but considering who’s in the Senate and in the White House… this trajectory isn’t half bad, especially since we’re going to keep them from getting those class-warfare tax hikes they demanded.

Red Cloud on July 31, 2011 at 12:12 AM

Tea Party outflanked (made fools of) by Washington DC Ruling class old guard. The fix was in weeks ago.

Sandybourne on July 31, 2011 at 12:12 AM

I don’t know. The $2.8 trillion debt ceiling increase is a lot larger than I’ve ever heard of. That’s not tenable and I don’t care how much they cut. It’s a fracking blank check.

Apologetic California on July 30, 2011 at 11:59 PM

And it might be enough to get past the election next year. Exactly what 0bummmer wanted.

Mirimichi on July 31, 2011 at 12:12 AM

A crowd favorite at my place, but I have this habit of heading to the kitchen to stuff my face when I watch; bacon wrapped, deep fried bratwurst…..not good at this hour.

Bishop on July 31, 2011 at 12:11 AM

Ha! Too true.

Weight of Glory on July 31, 2011 at 12:12 AM

So what do you think the Republicans should have been doing while we did control all three branches of government between 2000 and 2006, genius? Spending INCREASED during that time, and drastically so. You’re assuming good faith where the Republicans have shown NONE. Try again.

gryphon202 on July 31, 2011 at 12:09 AM

OK, Democrat.

Red Cloud on July 31, 2011 at 12:12 AM

I’m sure if Reid and Obama agreed to the “Flags for Orphans bill” that wouldn’t send up red flags. All it looks like is an 85% victory for the Republicans and the Tea Party.

Defector01 on July 31, 2011 at 12:10 AM

I hope you’re right, but I don’t think you are. Even if you’re right and it’s 85% good, you’re depending on Republicans to do the sort of stuff they showed no inclination to do while they did control all three branches of government. Your naivete is stunning. I’m still not sure why you take Republicans at their word on this. I sure don’t.

gryphon202 on July 31, 2011 at 12:13 AM

OK, Democrat.

Red Cloud on July 31, 2011 at 12:12 AM

Bite me, coward.

gryphon202 on July 31, 2011 at 12:13 AM

what i like most about this is that 2.8T is 20 percent of the TOTAL debt, incurred over the last whatever years that the government has been borrowing. 20 percent of the total debt just to get barry re-elected. Nice round numbers…that can go into ads.

i think it might be a trial balloon…but, if we do this, there will be immediate shrieking from the Left/Media that WE MUST NOW RAISE TAXES…2.8T is not fair FOR THE CHILDREN…and that WE MUST PAY OUR FAIR SHARE..because barry needs the money

gorge the beast, then tax our brains out

r keller on July 31, 2011 at 12:13 AM

All it looks like is an 85% victory for the Republicans and the Tea Party.
Defector01 on July 31, 2011 at 12:10 AM

Unless that remaining 15% is an economic hydrogen bomb falling from the sky.

Bishop on July 31, 2011 at 12:14 AM

Red Cloud on July 31, 2011 at 12:04 AM

Meanwhile, back on earth…

Americans watched in horror as the debt ceiling was raised by more than it had ever been raised in history in exchange for a promise of reduced spending in the future (not cuts…slightly reduced spending). You realize that 2.8T dollars is an increase in our debt of 20%, right? A 20% increase in one night.

I tell you what, you go to whatever loan company you may have borrowed from and tell them to immediately increase the amount you owe them by 20% and see what that does to you finances. Then try an imagine how bad that would be if you were already borrowing 40% of your income.

Buy hey, taxes weren’t increased, so that’s something right? And uh, the D’s will vote to shoot down a BBA and we can point and say “hey, you don’t like BBA.” To which they will respond “and?” While the media calls you a terrorist for making them take the vote.

I’d hate to see what losing would look like in your world.

Pattosensei on July 31, 2011 at 12:14 AM

The GOP will betray you

True_King on July 30, 2011 at 11:51 PM
El_Terrible on July 31, 2011 at 12:02 AM

darwin-t on July 31, 2011 at 12:14 AM

I’d hate to see what losing would look like in your world.

Pattosensei on July 31, 2011 at 12:14 AM

+1 This

gryphon202 on July 31, 2011 at 12:15 AM

Red Cloud on July 31, 2011 at 12:04 AM

I think you have it exactly right. The politics of this are horrible for the Dems. The raving moonbats are going to s*** themselves over a debt ceiling extension that includes no new revenues. I am quite sure that Obama’s 40% approval rating from Gallup panicked the WH and helped get this deal done.

Please everyone reserve judgment until we get the details and remember the House gets a vote on this.

Bill C on July 31, 2011 at 12:15 AM

This looks pretty much like total victory for us. The only thing we leave on the table is a two-step ceiling increase, which means we give Obama a bit of a reprieve.

KingGold on July 31, 2011 at 12:15 AM

And it might be enough to get past the election next year. Exactly what 0bummmer wanted.

Mirimichi on July 31, 2011 at 12:12 AM

That’s ALL Obama wanted. Tax increases were only a clever bargaining chip to make us idiots believe we won something.

neuquenguy on July 31, 2011 at 12:16 AM

Unless we know what the cuts are this means nothing!

In DC, a cut is something you were thinking of spending money on and then decided not to. There’s your cut!

katy on July 31, 2011 at 12:16 AM

If the Super Committee fails, Congress must send a balanced-budget amendment to the states for ratification. If that doesn’t happen, across-the-board spending cuts would go into effect and could touch Medicare and defense spending.

Does not =

Vote on the Balanced Budget Amendment

So after the Commission fails…. The Senate Dems will put the Balanced Budget bill to a 2/3rd’s type of vehicle… And then Republicans get to auto cut Military & Medicare…. And u’ll think this is a win… LOL

Y314K on July 31, 2011 at 12:16 AM

LOL, why even bother, we’ll be defunct well before then.

Midas on July 31, 2011 at 12:09 AM

Just kickin’ the can Midas, just kickin’ the can

darwin-t on July 31, 2011 at 12:16 AM

Pattosensei on July 31, 2011 at 12:14 AM

Way to not address anything I said. If you are determined to feel grumpy and upset over this, I refuse to get in your myopic path.

Red Cloud on July 31, 2011 at 12:17 AM

I smell trolls talking this up to take the pressure off the Reps.

Stinks in here…

katy on July 31, 2011 at 12:17 AM

The nitriles hates it. Therefore it can’t be THAT bad for us.

angryed on July 31, 2011 at 12:17 AM

The only people who won were the politicians desperate to save face. Everyone else, namely us, lost.

CrankyTRex on July 31, 2011 at 12:17 AM

Facebook does not like Hot Air. I have to do one of those security code things everytime I do a share from here.

Connie on July 31, 2011 at 12:06 AM

I noticed this, too. It is the only website I link on Facebook that gets those security questions.

Bill C on July 31, 2011 at 12:18 AM

The prohibition on net tax revenue gains is a big, big win for Republicans if it holds. I should note that Jimmie Bise in his post believes that the second round of cuts might be actual cuts; if so, then this is an even bigger win.

When the Cloward-Piven dust clears from this Congressional clown show brought to us from the Obama administration….
…..the bottom line will be that our fiscal problems will not have been addressed.The only “real” thing accomplished will be allowing the government to spend more money that we do not have……
…..and the Tea Party will be the only ones who will be able to say with conviction and through their actions “we told you so”.

….We were called “extremist,terrorist,and obstructionist” because we wanted real and significant cuts….entitlement reform…..lower taxes…..and to hold our government accountable with the BBA.
Was it important that we get a deal done…yes….
……….were we going to get everything we wanted…no…
………….but the bar was certainly set higher in negotiations due to a fresh batch of Conservatives.
………….. You fight for it and when the smoke clears..you will be vindicated (see Wisconsin and Ohio).

If what is being reported on this deal is true.….and there are no tax increases (or gimmicks like the Bush tax cuts expiring)….then we could very easily see the lunatic left go in to full “Taliban” mode…..threatening their local elected officials with primaries and “taking the economy hostage”…..

We have to see the details before knowing how to gauge this but one thing is for sure….Obama took a major beating from his “hope and change” crew and their are no more “Osama Bin Laden’s” left to kill to give him any more cover.

The press has bent over backwards to protect this Nation from seeing just how inept Obama really is.
That was all for nothing after watching the pathetic lack of leadership coming from the Hustler-n-Chief.
The left has hinged this fight on getting Tax increases……fighting any real “cuts”…..and trying to make Obama look like the “adult in the room”…..
…..Epic..Epic…Epic fail.

Baxter Greene on July 31, 2011 at 12:18 AM

I think you have it exactly right. The politics of this are horrible for the Dems. The raving moonbats are going to s*** themselves over a debt ceiling extension that includes no new revenues. I am quite sure that Obama’s 40% approval rating from Gallup panicked the WH and helped get this deal done.

Please everyone reserve judgment until we get the details and remember the House gets a vote on this.

Bill C on July 31, 2011 at 12:15 AM

Politics horrible for the dems? All it takes is a half-assed third-party candiacy a la Ross Perot, and Obama is virtually guaranteed another four years. As I alluded to earlier, I reserved judgement between 2000 and 2006 while Republicans engaged in profligate spending while in control of the entire government. Screw civility. Screw reality. Now is where I start making demands of my elected representatives, and if you don’t like it, you and Ben Stein can kiss my pasty white a$$.

gryphon202 on July 31, 2011 at 12:18 AM

You guys on here are a fit loopy.

We control 1 part of the congress. We’re a few short in the senate but in truth, we are inundated with Rino’s

What the he’ll was Boehner to do? Let it burn? You sound as irrational and crazy as the Kos crowd.

The repubs came out as the only party working there ass off to create an equitable situation. No matter how hard they try, the msm will have a hard time spinning this otherwise.

Have faith in the American people. Obama was elected in a fashion never seen before. A coordinated effort of smoke, mirrors and Alinsky smear tactics. The lesson was learned and this will never happen again.

I for one am gonna stick by MY party and feel confident they did the best they could. They are hoping to divide us…..and we’re letting them.

DLEW on July 31, 2011 at 12:18 AM

This looks pretty much like total victory for us. The only thing we leave on the table is a two-step ceiling increase, which means we give Obama a bit of a reprieve.

KingGold on July 31, 2011 at 12:15 AM

Right, but I’m personally willing to let him have it for the sake of not giving him the opportunity to paint conservatives as trying to shut down the government. He looks pathetic enough as it is considering that the two-step increase was really all he ever clearly wanted out of the whole thing.

Red Cloud on July 31, 2011 at 12:18 AM

Ugh stupid auto type…. Nutroots hate it.

angryed on July 31, 2011 at 12:18 AM

What part of this deal was not part of the bill the house sent last night and was DOA today?

Skywise on July 31, 2011 at 12:19 AM

While the media calls you a terrorist for making them take the vote.
Pattosensei on July 31, 2011 at 12:14 AM

Ok raise your hand if you laughed at this. I did.

ROFL…oh well at least we can all chuckle as we trudge off to the government broom factory in our padded Mao suits, singing “MMM MMM MMM Barack Hussein Obama” and bowing to the 200 foot statue of Michelle Obama as we pass.

Bishop on July 31, 2011 at 12:19 AM

$2.8 Trillion increase in the debt ceiling?

Interesting.

Just about the amount of idle cash the Chinese have laying around (currency reserves) today waiting for an opportunity to “invest.”

Why go to war to conquer an adversary when one nation can buy another nation on the cheapside?

coldwarrior on July 31, 2011 at 12:19 AM

And so the dog and pony show comes to a close. In these, the final moments, all of America’s great leaders come together in friendship and pat themselves on the back for a job well done.

FloatingRock on July 31, 2011 at 12:19 AM

•Debt ceiling increase of up to $2.8 trillion
I thought it was supposed to be 2.4 trillion looks like we are going in the wrong direction.

•Spending cuts of roughly $1 trillion
Yea like the 100 billion. This will probably only amount to 500 million. You know they are going to use ending the wars in there.

•Vote on the Balanced Budget Amendment
Yea they’ll make up a new law with so many loop holes it won’t matter if this passes or not.

•Special committee to recommend cuts of $1.8 trillion (or whatever it takes to add up to the total of the debt ceiling increase)
More phantom cuts. These won’t be real.

•Committee must make recommendations before Thanksgiving recess
HaHaHa Yea right.

•If Congress does not approve those cuts by late December, automatic across-the-board cuts go into effect, including cuts to Defense and Medicare.
Just Defense they will say Medicare but you know it wont happen.

The GOP sold us down the river again. This is the best we can get they’ll say. With these idiots in charge the country as we know it is toast. The car is picking up speed and there is no way to stop it now. They will all come out and say America is to big to fail but will not realize it was they who failed America.

Brat4life on July 31, 2011 at 12:19 AM

Unless we know what the cuts are this means nothing!

In DC, a cut is something you were thinking of spending money on and then decided not to. There’s your cut!

katy on July 31, 2011 at 12:16 AM

You’re right, so let’s look at a finished plan before we condemn it.

Bill C on July 31, 2011 at 12:19 AM

Y314K on July 31, 2011 at 12:05 AM

+oo. You owe me a new keyboard on the mars invasion, though.

Firefly_76 on July 31, 2011 at 12:19 AM

2.8 Trillion over 10 years is nothing. That pays for the increase he’s getting in ONE VOTE!

Whoa, back that up. We’re so screwed that 2.8 Trillion is barely a dent in our problems. Daaaammmnn.

You know, lost in all this is the fact that if we actually aggressively exploited our natural resources, we’d be generating income that would’ve mitigated this problem to begin with. Someone also said that if we hadn’t aborted 50 million + we’d have more workers to support the baby-boomer retirees.But I think that would’ve only delayed the inevitable.

Iblis on July 31, 2011 at 12:19 AM

Politics horrible for the dems? All it takes is a half-assed third-party candiacy a la Ross Perot, and Obama is virtually guaranteed another four years.

gryphon202 on July 31, 2011 at 12:18 AM

And since you clearly don’t like the GOP or Obama, you’ll vote for this half-assed third party “candiacy.” Right?

Brilliant.

Red Cloud on July 31, 2011 at 12:19 AM

I smell trolls talking this up to take the pressure off the Reps.

Stinks in here…

katy on July 31, 2011 at 12:17 AM

I smell paranoia.

Smells like rotting fruit.

KingGold on July 31, 2011 at 12:20 AM

Way to go GOP!

you just reelected Obama.

tetriskid on July 31, 2011 at 12:20 AM

I for one am gonna stick by MY party and feel confident they did the best they could. They are hoping to divide us…..and we’re letting them.

DLEW on July 31, 2011 at 12:18 AM

Your party controlled both houses of congress and the executive branch for a full three election cycles, during which spending went down NOT ONE SINGLE PENNY. Gawd…they don’t even teach history in schools from 5-11 years ago now?! Jesus H. Christ…

gryphon202 on July 31, 2011 at 12:20 AM

I’m going to laugh myself silly when it turns out that we breech the debt ceiling again before the 2012 election. We’ve been hitting it faster and harder for a couple years now. I’d love to be a fly on the wall when/if Geithner calls Obama in Sept. of 2012 and says, “Ummm yeah…Mr. President…seems as though we’re going to be broke again in October…surprise!”

Weight of Glory on July 31, 2011 at 12:20 AM

I for one am gonna stick by MY party and feel confident they did the best they could. They are hoping to divide us…..and we’re letting them.

DLEW on July 31, 2011 at 12:18 AM

+1

Red Cloud on July 31, 2011 at 12:21 AM

I smell paranoia.

Smells like rotting fruit.

KingGold on July 31, 2011 at 12:20 AM

You can’t even do simple math dumbass.

Your inability to do simple math smells even worse.

tetriskid on July 31, 2011 at 12:21 AM

And since you clearly don’t like the GOP or Obama, you’ll vote for this half-assed third party “candiacy.” Right?

Brilliant.

Red Cloud on July 31, 2011 at 12:19 AM

Don’t put words into my mouth, dipsh!t. Who I vote for won’t matter if a third-party candidate runs. I’ve made my intentions more than clear already. Less than 10% of the popular vote is all it takes to virtually guarantee Obama’s re-election, so don’t lecture me about “reality.” We’ve got one shot at saving our country, and Crybaby Boehner and the Compromise Caucus aren’t where I’m putting my chips.

gryphon202 on July 31, 2011 at 12:22 AM

Your party controlled both houses of congress and the executive branch for a full three election cycles, during which spending went down NOT ONE SINGLE PENNY. Gawd…they don’t even teach history in schools from 5-11 years ago now?! Jesus H. Christ…

gryphon202 on July 31, 2011 at 12:20 AM

So you ARE a Democrat, then.

At least you outed yourself honestly.

KingGold on July 31, 2011 at 12:23 AM

You want to know what we lost?

1. A once-in-a-lifetime opportunity to push for real changes in the neverending spendalooza taking place in Washington.

A lifetime is a long time, there is an election next year. This is not going to help the economy.

2. Real cuts, a cap on future spending, and a balanced budget amendment.

What make you think you were ever going to get anything other than a vote on a BBA with the current makeup of this congress (it takes 2/3rds of each house and the president)?

TheRightMan on July 31, 2011 at 12:10 AM

whbates on July 31, 2011 at 12:23 AM

I for one am gonna stick by MY party and feel confident they did the best they could. They are hoping to divide us…..and we’re letting them.

DLEW on July 31, 2011 at 12:18 AM

I agree..:)

Dire Straits on July 31, 2011 at 12:23 AM

You’re right, so let’s look at a finished plan before we condemn it.

Bill C on July 31, 2011 at 12:19 AM

I tend to think it’s prudent to condemn first and ask questions later when dealing with the most corrupt political miscreants in our short history!

Prove me wrong!

katy on July 31, 2011 at 12:23 AM

Hey everybody! Adding more debt is a “cut”…

tetriskid on July 31, 2011 at 12:24 AM

The only way a $2.8 trillion is going to make me happy if it was for the next 20 years. But just for one year?! $17 trillion!

Apologetic California on July 31, 2011 at 12:24 AM

2.8 TRILLION

2 . 8 T R I L L I O N

2 . 8 T–R–I–L–L–I–O–N

T-W-O____P-O-I-N-T____E-I-G-H-T____T-R-I-L-L-I-O-N

El_Terrible on July 31, 2011 at 12:24 AM

The GOP will betray you

True_King on July 30, 2011 at 11:51 PM

Update: The GOP HAS ALREADY betrayed you.

SouthernGent on July 31, 2011 at 12:24 AM

Both sides will claim ‘success’.

They just kicked the can down the road, a tad.

The downgrading will and should happen. It’s deserved and due and will be the first step to the reality check.

There are NO leaders in the game.

Schadenfreude on July 31, 2011 at 12:24 AM

2010 wasn’t the cure-all some of you people thought it was supposed to be. It was the first step.

House. Senate. White House. Each gets a say. We secured one in 2010. Now we have to get the others in 2012.

Perhaps we will despite you hardliners.

Red Cloud on July 31, 2011 at 12:24 AM

I for one am gonna stick by MY party and feel confident they did the best they could. They are hoping to divide us…..and we’re letting them.
DLEW on July 31, 2011 at 12:18 AM

The only party I stake a claim to is the one that occurs on my deck or in my garage from time to time.

So waddya think, the pre 2010 election GOP (your party) promised you $100 billion in cuts, what your party gave you in the end was $350 million.

Still confident they did the best they could?

Here’s your sign.

Bishop on July 31, 2011 at 12:25 AM

You’re right, so let’s look at a finished plan before we condemn it.

Bill C on July 31, 2011 at 12:19 AM

Sort of like “passing it first to find out what’s in it”???

No.

This is crap.

Start cutting.

tetriskid on July 31, 2011 at 12:25 AM

Fine, but I want to see the language in the bill first, so I don’t have to learn what’s in it after they pass it. Been there, done that.

TXUS on July 31, 2011 at 12:25 AM

So you ARE a Democrat, then.

At least you outed yourself honestly.

KingGold on July 31, 2011 at 12:23 AM

I don’t have faith in the Republicans, therefore I must be a Democrat? Sounds to me like some people are just as cultishly devoted to the Republican party as I supposedly am to Sarah Palin…

gryphon202 on July 31, 2011 at 12:25 AM

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