Debt fallback plan gains momentum as GOP plans symbolic votes
July 18th, 2011
12:50 PM ET
3 years ago

Debt fallback plan gains momentum as GOP plans symbolic votes

Washington (CNN) – Top administration and congressional officials are expected to continue working this week on a measure to raise the federal debt ceiling by up to $2.5 trillion, embracing a version of a fallback plan designed by Senate Minority Leader Mitch McConnell to avoid a potentially catastrophic default.

At the same time, GOP leaders are planning a series of votes on a proposed balanced budget amendment to the Constitution and sharp caps on future spending. The bills have no chance of clearing Congress or winning the approval of President Barack Obama, but would allow Republicans to demonstrate their preference for steps favored by their party's conservative base.

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Filed under: Congress • Debt • Deficit • President Obama • Republicans
soundoff (8 Responses)
  1. FM

    These lawmakers should understand that they were sent to Washington to solve problems and make life even more easier to those who elected them. Failure to do so, will result in severe consequences to be imposed to them.

    July 18, 2011 07:59 am at 7:59 am |
  2. Anders Perillo

    Oh boy, more of his my-way-or-the-highway heated political rhetoric and no plan from the Executive Branch. Another great week, here we go...

    July 18, 2011 08:09 am at 8:09 am |
  3. Steve, New York City

    The debt talks are disturbing. While I think that "some elements" (of both sides of this debate) are acting with integrity, it seems to me that some on the right are more motivated to see President Obama fail, rather than solving the nation's ills. I would tell these people to stop being so stupid, forget that the president is not white, and go out there to try to heal our government (rather than taking the neo-con goal of trying to destroy it). Their behavior is un-American!!!!

    July 18, 2011 08:12 am at 8:12 am |
  4. Russell Brown

    those who harvest grapes
    always leave a few for the
    poor.

    July 18, 2011 08:13 am at 8:13 am |
  5. juliei4

    The GOP has shown where their priorities lie – party and politics trump doing the right thing by America and Americans.

    July 18, 2011 08:30 am at 8:30 am |
  6. A Kickin` Donkey

    I support the President but am concerned that he a niave negotiator.

    Saw a number of these TEa party Congressmen interviewed this weekend and they are not compromising. If the President signs off on spending cuts, he will have gotten NOTHING for them. His opponents, emboldened by this outcome will continue their TERRORIST / extortionist tactics. He has to draw an IMMEDIATE line in the sand now.

    Democrats have made this mistake before and it is foolish to repeat it again. For example, they gave Reagan dissproportionate tax rate reductions which favored the wealthy over the middle class. We now see how that has shifted the weighting of taxes / tax rates away from the wealthiest among us. That`s not right. It arose because Democrats turned the other cheek out of trust that the GOP would reciprocate. They don`t reciprocate – – they are SELFISH. That move by Reagan REDISTRUBTED wealth from the common man to the wealthy and Democrats, asleep at the switch, let it happen.

    The President should VETO everything except an simple UP/DOWN bill – – a simple one that is 2 sentences long – – which raises the debt ceiling by $2.7T.

    After that, force the GOP to negotiate in good faith to reduce the National Debt. That means greater REVENUE and lower EXPENSES.

    Mr. President, you can`t give a TERRORIST something and get nothing in return. Get your veto pen ready, cut Congress salaries off and use the authority in the 14th Ammendment to manage unilaterally.

    July 18, 2011 08:39 am at 8:39 am |
  7. John

    You know why a deal can't be reach , It because the Republican will not Compromise. They would rather ruin America credit rating than to let people think President Obama Is doing anything about anything. All they are trying to do Is make him a one term President. But what the Really are doing are making American people think the Republican are not doing there Jobs. And they are signing Pledge to Special group Of people , When they have all ready took a OATH and Swear to It on a BIBLE. All Republican Claim to be Christian but each one of they broke there OATH that they swear on a BIBLE. when they sign pledge to SPECIAL GROUP OF PEOPLE. This Is Not want a good Christian would do.

    July 18, 2011 08:47 am at 8:47 am |
  8. Rudy NYC

    I am completely dumb struck by how entrenched the GOTP is over balancing the budget. The President offered up a gold-plated deal that they could have walked away from with their honor and heads held high. But no, being able to do that was not enough. They want to rub Democrats' faces in the mud.

    The GOTP claims that they are acting for the "will of the American people" is just as false as their claims about "job creators."

    I don't care if Republicans destroy their own party, but please do not destroy America. This is not a cold war. Mutually assured destruction is not an option to 80% of Americans despite what Republicans claim the majority of people want. They're lying once again about "what most Americans want."

    July 18, 2011 08:48 am at 8:48 am |