Deal watch: Yes or no? Update: Deal; Update: Boehner releases details; Update: Obama video added

posted at 8:28 pm on July 31, 2011 by Allahpundit

In lieu of the Quotes of the Day, a thread to carry us overnight and collect any late-moving debt-ceiling shenanigans. Boehner’s holding a conference call with the GOP caucus at 8:30 p.m. to talk about the deal, but Republicans aren’t the key obstacle right now:

Democrats in the House of Representatives might decide not to support a last-minute deal to raise the debt ceiling when they meet on Monday, House Democratic Leader Nancy Pelosi said on Sunday.

“We all may not be able to support it, or none us may be able to support it,” Pelosi told reporters.

A Republican aide tells NRO that if the final agreement on defense cuts looks ugly, Boehner could lose another 40 to 50 Republican votes on top of the 22 who voted against his bill Friday. That’s not bad: All they’d need are 40 to 50 Democrats out of a caucus of 193 to make up the difference, but the left’s lather over this deal is getting foamier by the hour. What’s it going to be like by tomorrow morning, when Pelosi meets with the caucus, when liberals like Emanuel Cleaver are already calling it a, er, “sugar-coated Satan sandwich”?

And yet, and yet, as I write this, Boehner’s still holding out:

Two congressional aides said Boehner is holding out to reduce roughly $350 billion in cuts to defense spending that would be part of an initial $900 billion in deficit cuts tied to a debt ceiling increase of a similar amount. Boehner also is refusing to agree to an even split between cuts to defense and other spending that would be triggered if Congress failed to enact a deficit reduction plan produced by a special congressional committee or doesn’t pass a balanced budget amendment, the aides said. Senate Minority Leader Mitch McConnell, R-Ky., has left negotiations on defense spending to Boehner, staffers in both parties said. A Democratic congressional aide said McConnell had also signed off on the deal. McConnell spokesman Don Stewart would not confirm the senator had agreed.

If he and McConnell join Reid in signing off on the deal tonight, the full weight of approving the deal will fall on Pelosi and the House Democrats tomorrow. That would leave liberals doubly screwed, not only stuck with a deal they hate but in danger of destroying the left’s relentless messaging that Republicans are the obstructionists here. For six months we’ve been told that those crazy wingnuts are willing to hit the debt ceiling and throw America into economic chaos to make their point; if Pelosi walks away 24 hours before the ceiling deadline after all three other congressional leaders have blessed the deal, that’ll blow up right in her face. I’m amazed, frankly, that Reid publicly approved the deal before she had a chance to talk to House Democrats. All that does is weaken her leverage in holding out and hand the GOP a talking point about how radical House liberals are even by the standards of Harry Reid. But maybe that was Reid’s point: By offering his approval early, he’s maximizing the odds that House Democrats will cave and that this thing really will pass.

But wait, you say. Isn’t Senate action tomorrow subject to unanimous consent to move ahead on a vote without debate? Won’t DeMint or Mike Lee object and slow things down, which will shift some deadline pressure back to the GOP? Actually, probably not: Both of them said today that they’re not going to delay this thing for the sake of delaying it, which keeps the ball squarely in Pelosi’s court. That’s going to be sooooome caucus meeting tomorrow. While we wait for news, here’s Krauthammer on tonight’s very special Special Report insisting that this is a laudable first step by tea partiers towards rolling back ruinous spending. Do any tea partiers actually agree with him? (Maybe a few.) Stand by for updates and click the image to watch.

Update: Just announced: Obama will speak in the White House briefing room at 8:40, which can only mean he’s signed off on the deal. And if that’s true, then Pelosi’s already signed off too. The leadership’s bringing intense pressure on the Democratic caucus to play ball tomorrow by going public tonight.

Update: Reid’s on the Senate floor right now hailing “bipartisan compromise.”

Update: JPod puts it bluntly for House Democrats.

Update: Obama in a nutshell: We have a deal, I would have preferred a “grand bargain,” but it’s a move in the right direction and, hey, at least this thing is over. Video forthcoming.

Update: Here’s the PowerPoint about the agreement that Boehner’s going to roll out at the next Republican caucus meeting. The deal is just what we thought it would be this morning, but note how Boehner’s framing it explicitly as a version of Cut, Cap, and Balance. The key detail on across-the-board cuts, which will go into effect if Congress ends up rejecting the Super Commission’s recommendations:

Total reductions would be equally split between defense and non-defense programs. Across-the-board cuts would also apply to Medicare. Other programs, including Social Security, Medicaid, veterans, and civil & military pay, would be exempt.

So they settled on a 50/50 split after all between defense cuts and other discretionary spending. That was Reid’s price in exchange for dropping tax hikes as an automatic trigger.

Update: John McCormack has excerpts from Boehner’s conference call with House Republicans. “There’s no agreement until we’ve talked to you.”

Update: If you’re worried about the Super Commission coming back to Congress with a package of tax hikes, read James Pethokoukis’s post about baseline budgeting. Because CBO is forced to assume that the Bush tax cuts will expire next year, the Commission can only hit its goal in savings by raising taxes above and beyond the additional $3.5 trillion in revenue that CBO already expects from that expiration. Ain’t going to happen.

Update: Here’s Obama.

Update: The Senate vote shouldn’t be a problem but could be a bit narrower than expected too:

However, less than an hour later during a procedural vote, a group of 15 Senate Democrats crowded around one of their leaders, Sen. Charles E. Schumer (D-N.Y.), demanding to know why the framework did not include any increased revenue through tax hikes on the wealthy or the closing of corporate loopholes. The group included the Democratic caucus’s most outspoken liberals, such as Sens. Tom Harkin (Iowa), Barbara Mikulski (Md.) and Al Franken (Minn.)

Afterward, Sen. Carl Levin (Mich.), who was part of the huddle, said the group had “mixed” feelings toward the possible deal. “It’s not balanced, it doesn’t have revenues,” he said, disappointed that President Obama’s prior demand for “balance” was not assured. “There are a lot of people who are really withholding judgment.”

I’m curious to see what vulnerable red-state Democrats like Tester, McCaskill, and Nelson do.

Update: “Overwhelming support for Boehner on conf. call.” Supposedly, Paul Ryan told the caucus that this deal is better than the bill passed on Friday.

Update: Aha, here’s why Boehner finally signed off on the 50/50 split involving defense cuts:

Compromise on defense was to include foreign aid, Homeland Sec., etc. in “security” category of cuts so they didn’t fall so heavily on DOD

Update: Here’s Cleaver, summing up the liberal reaction. Click the image to watch.

Update: Timothy Carney reminds the left that when you elect a guy whose main goal is his own reelection, don’t be surprised when the deals he strikes reflect that priority.

In this light, consider Obama’s willingness in April to compromise on taxes and most spending, but to stand firm on Planned Parenthood subsidies. It looks like liberal principles took a back seat to 2012 fundraising.

And this debt deal is similarly Machiavellian: Substance was subjugated to political framing. Republicans had their demands: no tax increases, yes spending cuts. Democrats’ demands had a different tone.

First, Democrats wanted to ensure this was the last debt-limit increase before the 2012 elections. Raising the debt limit, as Sen. Obama said in 2006, is “a sign of leadership failure” and politically unpopular.

Second, they wanted to ensure that the right issues would be debated in the election year. A high-stakes debate over a balanced budget amendment — as required by the bill the House passed on Friday — would make it clear that Democrats, unlike most Americans, do not want a balanced budget…

Democrats’ willingness to compromise doesn’t reflect superior maturity to the more rigid Republicans. Quite the contrary: It reflects caring less about policy than about politics.

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Schadenfreude on August 1, 2011 at 12:40 AM

The first that I heard of the One Cent Solution was from a mailer from the Mercatus Organization. I posted their website here at the time, over a month ago. It is linked on the right of the site you linked to, schedenfreude.

onlineanalyst on August 1, 2011 at 12:58 AM

Sorry, s/b El_Terrible, not intentional.

Schadenfreude on August 1, 2011 at 12:59 AM

the leftists are just acting out their primitive emotions. According to Barry, they won:

http://www.zerohedge.com/news/bipartisan-debt-deal-fact-sheet-victory-republicans-democrats-and-course-white-house

maybe it is best not to read it before the thing is done. As zh says, take your bp meds before reading it. the Lefties are just acting out.

r keller on August 1, 2011 at 12:59 AM

Sen. Rand Paul
Schadenfreude on August 1, 2011 at 12:57 AM

?

gh on August 1, 2011 at 12:59 AM

gh on August 1, 2011 at 12:48 AM

That is great that you have that info on your family. Searching for ancestors is interesting; not so easy, but fun!

bluefox on August 1, 2011 at 1:01 AM

Y2K, LOL Oh, wasn’t that a mess? I read so many horror stories about that. Finally under pressure I bought a hand can opener!! Just in case the electric went out.

Someone should write a book about all of that, Ha-Ha

bluefox on August 1, 2011 at 12:43 AM

I was working in IT during Y2K. The only reason the world didn’t fall apart was because 10s of thousands of IT people worked night and day for years to prevent it.

I was working for a mutual fund company at the time and I can tell you that the system would have failed if changes weren’t made. My sister did a contract for a water treatment facility that would have released the wrong chemicals at the wrong time, contaminating the water.

It really irks me when people think it was all a joke, it wasn’t.

Common Sense on August 1, 2011 at 1:01 AM

I know a few of you are following this scandal: Secrecy Surrounds Silver Star Medal Revocation

I see no other reason for the secrecy here than the connection to John F’n Kerry.

slickwillie2001 on August 1, 2011 at 1:02 AM

gh on August 1, 2011 at 12:59 AM

Of course, with sincere apologies.

Schadenfreude on August 1, 2011 at 1:02 AM

bluefox on August 1, 2011 at 1:01 AM

My paternal grandfather researched his past and wrote it down before he died. I learned a little more from my uncle at my mother’s funeral. On my father’s side, one of his uncles followed the family tree back to 1066, missing only one wedding record in the 1500s some time. But I’ve never seen that nor met the uncle. My father wrote up his family tree to the same extent as my grandfather. I’ve been meaning to get copies of both from my father some time.

gh on August 1, 2011 at 1:06 AM

Unfortunately, YouTube doesn’t seem to have a clip of the song, Yellowstain Blues from the Caine Mutiny.

FloatingRock on August 1, 2011 at 1:12 AM

Since there was no way to get a deal any better – I heard someone on Fox a while ago saying “the Senate Republicans should have not undercut the House and stuck with Cut Cap & Balance” but they didn’t say how they win even with all 47 Republicans – from Reid and Obama. It just was not going to happen, because they know as bad as next year is looking for them already, if they tick off the left too much they won’t get the money and volunteers they need to compete.

The problem is our side is worried about America, and the Democrats only care that their clients keep the cash flow and they keep their jobs.

Now the economy is back to being Obama’s albatross, and we need to hang it on him every day – except Thursdays, when we point out his foreign policy failures like Egypt, Syria, Libya, and the Iranians building nukes and flipping us off while they do it.

Adjoran on August 1, 2011 at 1:17 AM

but they didn’t say how they win even with all 47 Republicans

Adjoran on August 1, 2011 at 1:17 AM

Yes we did, you just didn’t care to listen.

FloatingRock on August 1, 2011 at 1:22 AM

FloatingRock, on this link, find Yellowstain Blues and click to hear.

Schadenfreude on August 1, 2011 at 1:22 AM

Thanks. Hide your strawberries, they’ll be coming for those next.

FloatingRock on August 1, 2011 at 1:29 AM

Common Sense on August 1, 2011 at 1:01 AM

I remember those times being very confusing. Reminds me of this debt crisis. So many different news sources with the Y2K, that it was difficult to know what to believe or do.

Even now, people don’t know the full story about what caused those issues.and you are the first person I have heard explain what it took to avoid a meltdown(if that’s the correct term to use)

I find a lot of news that’s reported but never followed up on. Perhaps this was what happened concerning the Y2K issue.

Appreciate the background info tho.

bluefox on August 1, 2011 at 1:32 AM

So, providing for the common defense loses out to paying for entitlements? Guess the Preamble ought to be changed to read something like ‘enslaving our kids to secure medical care for seniors, and screw defending our borders and national defense…’

It’s not like baseline budgeting of 7 percent per year increase is taking a hit… There’s got to be new dollars for politicians of either party to buy votes or politics as we know it will come to an end…

drfredc on August 1, 2011 at 1:40 AM

Even now, people don’t know the full story about what caused those issues.and you are the first person I have heard explain what it took to avoid a meltdown(if that’s the correct term to use)

bluefox on August 1, 2011 at 1:32 AM

The economic impact of Y2K was huge, because it often made more sense to replace entire systems rather than hire all the people needed to fix Y2K problems in old systems, when all you had for that very large expense was the same old system.

The replacement and upgrade of all those systems created a lot of economic activity that allowed Clintoon to show balanced budgets and stuck GWB with a recession when that activity shut down.

pedestrian on August 1, 2011 at 1:47 AM

gh on August 1, 2011 at 1:06 AM

You are very fortunate to have that written down and he was wise to do that.
Back to 1066, wow that is a lot of searching. If you have access to that family history, I’d encourage you to not delay in obtaining it.

Nice chatting, bedtime for me:-)

bluefox on August 1, 2011 at 1:52 AM

pedestrian on August 1, 2011 at 1:47 AM

Re: Y2K
Replacing systems? No wonder there was a lot of economic growth. I remember the IT stocks, etc.

A lot of businesses now don’t want to upgrade their computer systems due to the costs/software/applications. But with the Y2K, there wasn’t a choice.

Thanks for adding the info on this.

bluefox on August 1, 2011 at 2:04 AM

The news was the W.H. would use this texting for re-election info. How sick is that?

bluefox on July 31, 2011 at 10:22 PM

it will backfire, people hate to be spammed, regardless of political affiliation…

jimver on August 1, 2011 at 3:18 AM

Update: If you’re worried about the Super Commission coming back to Congress with a package of tax hikes, read James Pethokoukis’s post about baseline budgeting. Because CBO is forced to assume that the Bush tax cuts will expire next year, the Commission can only hit its goal in savings by raising taxes above and beyond the additional $3.5 trillion in revenue that CBO already expects from that expiration. Ain’t going to happen.

AllahPundit, So the baseline budgeting used on this deal assumes that the Bush tax cuts will expire at the end of 2012… Doesn’t this some what means that this deal includes within it’s baseline $3.5 Trillion in Tax Increase/Revenue ??? Just not front loaded ???

Y314K on August 1, 2011 at 3:23 AM

The Federal Government, especially under Child Emperor Hussein Louie, has become like a giant Vampire Squid ramming it’s blood funnel into anything that smells like wealth and wrapping it’s tentacles around anything that looks like liberty.

Lon Chaney on August 1, 2011 at 3:55 AM

Common Sense on August 1, 2011 at 1:01 AM

That’s the trouble with preventing a problem–it’s easy for people to scoff at what didn’t happen, ignorant of what it took to get there. Far too many people feel free to lecture about things they know nothing about, a result of the foolish notion that everyone has a right to an opinion (only inasmuch as everyone has a “right” to be stupid and ill-informed, and to inflict it on the rest of us).

DrMagnolias on August 1, 2011 at 4:07 AM

Now that this phony “crisis” is averted, I’m beside myself with anticipation over the next fabrication designed to (try to) make Obama look presidential and indispensible. Whatever will that be?

SKYFOX on August 1, 2011 at 5:59 AM

So how are those hearings going on Obama trafficking in guns down into Mexico?

Obama can’t sign this deal because the crisis would end and it might make people focus on project gunrunner.

JellyToast on August 1, 2011 at 6:25 AM

So how are those hearings going on Obama trafficking in guns down into Mexico?

Obama can’t sign this deal because the crisis would end and it might make people focus on project gunrunner.

JellyToast on August 1, 2011 at 6:25 AM

This debt ceiling ‘deal’ sucks. That I know. But whether I’d vote for it, just to move on to the next issue until elections give us the Senate and WH, I’m not so sure. Maybe it’s better politics than it is financial management. There’s likely a much bigger payoff in Fast and Furious than there is in the debt ceiling debate.

petefrt on August 1, 2011 at 6:43 AM

Ah, a form of cut, cap and balance!

Cuts, check! ‘Security’ cuts (why not let most of DHS take that in the pants? And State Dept, do we really need to be sending FA weapons and grenades to the Zetas in Mexico?) and for ‘entitlements’ which are budget busters… hmmmm… well they can still claim cuts, but nothing to go after something at the Department or Agency level so no real cuts: you still keep the authoritarian government you got.

Caps…. ahhh… they use baseline CBO increases in government… hmmmm…. ahhhh…. must be French caps! Berets! Put a cap on it and the beast looks oh-so-cute!

Balance… well it continues to have a pretty massive deficit… thus more debt… and still continues on with CBO baseline increases so doesn’t expect to actually put a real cap on spending, like say at the Clinton FY ’00 level… so it seems to be a bit on the unbalanced side. Almost deranged.

And this is supposed to be a ‘better’ deal?

For all those dipsticks who voted FOR the last deal and claim this as a BETTER deal, why didn’t you hold out for BETTER to start with? Oh, that’s right, you are worried about being called ‘meanies’, ‘evil’, ‘cultists’, ‘teahadists’ by the MFM.

The problem is, in the race to get a ‘deal’ you sign away your principles and are only seeking an expedient way to end a fabricated ‘crisis’. Now how about letting this piece of love leader-led legislation sit and stew with it being fully published for a week so EVERYONE can see what is in it and we don’t have to hear Republicans saying: you’ll have to read the bill to find out what is in it.

For my eye this bill may be BETTER but it is no damn GOOD.

ajacksonian on August 1, 2011 at 6:45 AM

Ah, a form of cut, cap and balance!

Cuts, check! ‘Security’ cuts (why not let most of DHS take that in the pants? And State Dept, do we really need to be sending FA weapons and grenades to the Zetas in Mexico?) and for ‘entitlements’ which are budget busters… hmmmm… well they can still claim cuts, but nothing to go after something at the Department or Agency level so no real cuts: you still keep the authoritarian government you got.

Caps…. ahhh… they use baseline CBO increases in government… hmmmm…. ahhhh…. must be French caps! Berets! Put a cap on it and the beast looks oh-so-cute!

Balance… well it continues to have a pretty massive deficit… thus more debt… and still continues on with CBO baseline increases so doesn’t expect to actually put a real cap on spending, like say at the Clinton FY ’00 level… so it seems to be a bit on the unbalanced side. Almost deranged.

And this is supposed to be a ‘better’ deal?

For all those dipsticks who voted FOR the last deal and claim this as a BETTER deal, why didn’t you hold out for BETTER to start with? Oh, that’s right, you are worried about being called ‘meanies’, ‘evil’, ‘cultists’, ‘teahadists’ by the MFM.

The problem is, in the race to get a ‘deal’ you sign away your principles and are only seeking an expedient way to end a fabricated ‘crisis’. Now how about letting this piece of love leader-led legislation sit and stew with it being fully published for a week so EVERYONE can see what is in it and we don’t have to hear Republicans saying: you’ll have to read the bill to find out what is in it.

For my eye this bill may be BETTER but it is no damn GOOD.

ajacksonian on August 1, 2011 at 6:45 AM

You’re just a crazy Teabagger who wants to destroy the country over your stupid principles.

/

fossten on August 1, 2011 at 6:50 AM

Tina’s on Fox and Friends this morning. Savvy and smooth as silk. Good job, Tina!

petefrt on August 1, 2011 at 7:05 AM

My take.

kingsjester on August 1, 2011 at 7:09 AM

Tina’s on Fox and Friends this morning. Savvy and smooth as silk. Good job, Tina!

petefrt on August 1, 2011 at 7:05 AM

But she gave Boehner an A in this whole deal and Obama a D. Not sure I can agree with either of those!

bluemarlin on August 1, 2011 at 7:12 AM

bluemarlin on August 1, 2011 at 7:12 AM

Heh, generous to a fault, no?

petefrt on August 1, 2011 at 7:18 AM

Maybe it’s better politics than it is financial management. There’s likely a much bigger payoff in Fast and Furious than there is in the debt ceiling debate.

petefrt on August 1, 2011 at 6:43 AM

Better politics but lousy governance.

SKYFOX on August 1, 2011 at 7:22 AM

First!

For the second time!

Bishop on August 1, 2011 at 7:25 AM

kingsjester on August 1, 2011 at 7:09 AM

Hey, that Gallup poll you cite on your blog needs some exposure here at HA:

Forty-one percent of Americans thus far in 2011 self-identify as conservative, 36% as moderate and 21% as liberal, continuing a slight advantage for conservatism seen since 2009. Many more Republicans call themselves conservative (71%) than Democrats call themselves liberal (38%).

Conservatives to liberals 2:1. Not bad, not bad at all.

petefrt on August 1, 2011 at 7:29 AM

petefrt on August 1, 2011 at 7:29 AM

Maybe Ed will post it later.

Funny, though. If you had been reading HA the last several days, you would have thought that Moderates outnumber Conservatives, instead of the other way around.

kingsjester on August 1, 2011 at 7:37 AM

Funny, though. If you had been reading HA the last several days, you would have thought that Moderates outnumber Conservatives, instead of the other way around.

kingsjester on August 1, 2011 at 7:37 AM

Just because they draw the most attention for calling the most names.

fossten on August 1, 2011 at 7:40 AM

Anther crap sandwich from the Congress to the American people! Why am I not surprised?

The U.S. has no distinctly criminal class…………except Congress!

GFW on August 1, 2011 at 7:40 AM

kingsjester on August 1, 2011 at 7:37 AM

True. And if you listen to MSM and Dem pols, you’d think we were a small minority… the Hezbollah wing of the GOP.

petefrt on August 1, 2011 at 7:41 AM

Obama gets to spend $1.7 trillion on ACORN, Planned Parenthood, SEIU, AFL-CIO and his re-election campaign. How anyone in their right mind would hand this Marxist another trillion to blow is beyond my comprehension.

Where’d the first trillion go?

Key West Reader on August 1, 2011 at 7:41 AM

What’s a moderate?

Bishop on August 1, 2011 at 7:41 AM

Where’d the first trillion go?
Key West Reader on August 1, 2011 at 7:41 AM

Moochy’s lobster tail and butter tub budget.

A dainty lady has to eat, ya know.

Bishop on August 1, 2011 at 7:43 AM

What’s a moderate?

Bishop on August 1, 2011 at 7:41 AM

Beats me. Everyone I know who’s not a Dem is a Tea Party conservative. They may not be active in the TPM, but they identify with it and support its mission.

Probably a “moderate” is what lives in the coastal cities.

petefrt on August 1, 2011 at 7:47 AM

What’s a moderate?

Bishop on August 1, 2011 at 7:41 AM

Beats me. Everyone I know who’s not a Dem is a Tea Party conservative. They may not be active in the TPM, but they identify with it and support its mission.

Probably a “moderate” is what lives in the coastal cities.

petefrt on August 1, 2011 at 7:47 AM

Like that dude/woman “Jesse” yesterday, or Bradk, Terrye, terryannonline, and MJBrutus.

kingsjester on August 1, 2011 at 7:50 AM

Ooooooohh, coastal cities. I’ve been to coastal cities, they seemed full of hippies and vagrants….are moderates hippies and vagrants?

Bishop on August 1, 2011 at 7:50 AM

This deal is the equivalent of a band aid on a severed limb.

Yakko77 on August 1, 2011 at 7:53 AM

Bishop on August 1, 2011 at 7:50 AM

Those were ‘progressives’ you saw. Flower children of the 60′s. Kumbaya. Make love, not war.

petefrt on August 1, 2011 at 7:55 AM

All-in-all, deal-or-no-deal the Socialist Democrats come away with a strategic victory here by making the argument about a meaningless debt ceiling and not the horrendous actual wealth-sucking debt. They win any time they reduce reality to symbols.

The economy will still be bad in 2012 so voters will readily see that. The GOP should make this election cycle all about the debt. Why did I have to balloon so suddenly? Where is that money going? Hire some visual wizards to do up some catchy, colorful and witty viral videos. But, as we all know, the GOP doesn’t have its head in the game.

curved space on August 1, 2011 at 7:59 AM

curved space on August 1, 2011 at 7:59 AM

Americans shouldn’t need catchy or flashy vids to make their decision. The majority chose Mailroom Clerk in 2008 to head the world’s preeminent corporation, and now the folly of what they did should be evident even to someone devoid of their 5 senses.

Bishop on August 1, 2011 at 8:05 AM

What’s a moderate?

Bishop on August 1, 2011 at 7:41 AM

Oh come on. You’re telling me you haven’t read the book Great Moderates in American History?

fossten on August 1, 2011 at 8:05 AM

Like that dude/woman “Jesse” yesterday, or Bradk, Terrye, terryannonline, and MJBrutus.

kingsjester on August 1, 2011 at 7:50 AM

All those people living rent free in your head 24/7. Must get kind of crowded for you at times….

Bradky on August 1, 2011 at 8:06 AM

If you’re worried about the Super Commission coming back to Congress with a package of tax hikes, read James Pethokoukis’s post about baseline budgeting. Because CBO is forced to assume that the Bush tax cuts will expire next year, the Commission can only hit its goal in savings by raising taxes above and beyond the additional $3.5 trillion in revenue that CBO already expects from that expiration. Ain’t going to happen.

Obamacare wasn’t going to happen either until it did.

chemman on August 1, 2011 at 8:29 AM

Does this deal push the next debt ceiling increase past the 2012 election? If so, Obama’s going to be doing the Snoopy Dance.

OhioCoastie on August 1, 2011 at 8:40 AM

I understand how that seems foreign to you, what with all the room you have to spare.

fossten on August 1, 2011 at 9:16 AM

All those people living rent free in your head 24/7. Must get kind of crowded for you at times….

Bradky on August 1, 2011 at 8:06 AM

I understand how that seems foreign to you, what with all the room you have to spare.

fossten on August 1, 2011 at 9:17 AM

Now that this phony “crisis” is averted, I’m beside myself with anticipation over the next fabrication designed to (try to) make Obama look presidential and indispensible. Whatever will that be?

SKYFOX on August 1, 2011 at 5:59 AM

I believe another continuing resolution is due at the end of September. That should be a cage match, an opportunity to cut spending now, not in the fuzzy out-years.

slickwillie2001 on August 1, 2011 at 10:49 AM

On Fox….Romney comes out against the bill. He wants CCB.

csdeven on August 1, 2011 at 10:55 AM

slickwillie2001 on August 1, 2011 at 10:49 AM

I heard that, more kicking and screaming.

Cindy Munford on August 1, 2011 at 10:56 AM

Wow ust checked around the web and it seems socialists heads are exploding over the debt deal…

These people are seriously deranged. The deal sucks because it doesnt like actually CUT anything, but it does give the pretender more funny money to blow.

dogsoldier on August 1, 2011 at 10:59 AM

On Fox….Romney comes out against the bill. He wants CCB.

csdeven on August 1, 2011 at 10:55 AM

Yeah – when the deal is done – he finally gives an opinion.

Douche.

HondaV65 on August 1, 2011 at 11:19 AM

The markets are tanking right now.

Weren’t we told by the establishment GOP crowd (WSJ, NRO, Allah, etc) that we had to pass this crap sandwich in order to prevent a market panic? LOL

Norwegian on August 1, 2011 at 11:32 AM

All I have heard of this deal is that it was done on the backs of the military with any future cuts to be made because congress once again can’t get it’s act together on those promised future cuts also being levied on the military.

I guess if you have to declare a winner it would be Dennis Kuchinich and his Department of Peace.

We are approaching the day when AARP is going to be running competing ads against military recruiting.

All gave some
Some gave all

Just A Grunt on August 1, 2011 at 11:45 AM

This deal is the equivalent of a band aid on a severed limb.

Yakko77 on August 1, 2011 at 7:53 AM

That said, with this Senate and the man sitting in the White House, It think it’s all we’e going to get in our frist aid kit. try to build on this after the 2012 election. It’s the reality we’re stuck with. Got to make the most of it till 2012.

Yakko77 on August 1, 2011 at 11:46 AM

I called my Rep and Senators local offices this morning, I encourage you to do the same!!

FLOOD the phones!!

Two if the secretaries completed my sentences for me about the cuts not being enough!!!

PappyD61 on August 1, 2011 at 11:57 AM

On Fox….Romney comes out against the bill. He wants CCB.

csdeven on August 1, 2011 at 10:55 AM

Not like his opinion was going to make any difference what so ever anyway. He can’t vote on it.

E L Frederick (Sniper One) on August 1, 2011 at 12:10 PM

On Fox….Romney comes out against the bill. He wants CCB.

csdeven on August 1, 2011 at 10:55 AM

Yeah – when the deal is done – he finally gives an opinion.

Douche.

HondaV65 on August 1, 2011 at 11:19 AM

Let’s call him Romneystiltskin.

slickwillie2001 on August 1, 2011 at 12:23 PM

The markets are tanking right now.

Weren’t we told by the establishment GOP crowd (WSJ, NRO, Allah, etc) that we had to pass this crap sandwich in order to prevent a market panic? LOL

Norwegian on August 1, 2011 at 11:32 AM

Yep, because unlike the Big Govt. spendocrats, the markets know a crappy deal that doesn’t solve the underlying problem when they see one.

I bet you the markets would have been up if something close to CCB had passed.

TheRightMan on August 1, 2011 at 12:39 PM

Rush said that if the Feds froze the spending next year it would be scored as a 9 trillion savings since the base line for the next ten years cost that much

so now are taxes can be raised because of 6 or 8 on a commitee

yay

)

Sonosam on August 1, 2011 at 12:43 PM

Even the Associated Press realizes this deal with the spending cuts is a joke.

http://news.yahoo.com/small-spending-cuts-little-economic-impact-144415767.html

M-E-L-T the phones!!!

PappyD61 on August 1, 2011 at 12:46 PM

Call your reps! My rep in TX has had on his website since Friday that he agrees with the plan being worked out in a bi-partisan fashion. Problem is nothing had been voted on by Friday that was bi-partisan other than CCB.

Just called and he is still on board. I asked for specific cuts and a definition of “immediate” and was told they had not yet determined that since the bill was so new. But he is still on board. The helpful staffer also has his talking points down that sound just like a democrat “we must avert default”.

DanMan on August 1, 2011 at 1:02 PM

If only they would have embraced……

……..”The Pappy Plan“…..

1. Seal the borders
(save entitlements by the score, state budgets, etc.)

2. 10% across-the-board Federal spending cuts.
(surely we can find this much “waste”, that would have been $350 billion this year alone.)

Nope……..more jacking around and lying from the D.C. politicians.

PappyD61 on August 1, 2011 at 1:14 PM

This deal is the equivalent of a band aid on a severed limb.

Yakko77 on August 1, 2011 at 7:53 AM

Yeah, but it has a “Happy Face” on it so we can all feel good when we look at it.

Jvette on August 1, 2011 at 1:24 PM

It’s time…

… It is way past time.

Burn it down and start over…

… If this passes, we are so scrooomed, that we will all be able to get jobs as wind socks.

You would think that one American wouldn’t do this to another and their children…

… but I was wrong.

Seven Percent Solution on August 1, 2011 at 1:25 PM

Is that a pic of a grinning Mr. Chao or a possum eating sheeit?…

Gohawgs on August 1, 2011 at 1:31 PM

I am so tired of caving, sniveling, weak-kneed repubics. What a disgrace.

ultracon on August 1, 2011 at 1:48 PM

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