Schumer: 'Relief' on Capitol Hill
July 31st, 2011
09:24 AM ET
12 years ago

Schumer: 'Relief' on Capitol Hill

Washington (CNN) - Sen. Chuck Schumer said Sunday there is no final agreement on a deal to raise the debt ceiling, but described a mood of "relief" on Capitol Hill.

"If there's a word right here that would sum up the mood, it would be relief, relief that we won't default," the No. 3 Democrat in the Senate said on CNN's "State of the Union." "That's not a certainty but default is far less of a possibility now than it was even a day ago."

Schumer said the proposal under discussion would include an initial round of spending cuts and set up a special congressional committee to recommend additional deficit reduction steps. At the same time, the debt ceiling would be increased in two stages.

Democrats and Republicans are still debating a mechanism that would trigger automatic across-the-board budget cuts if Congress fails to pass the additional deficit reduction steps recommended by the bipartisan special committee, according to Schumer.

"If they don't, the pain inflicted is so great, they have an incentive to come to an agreement," Schumer said. "If the sword is tough enough and sharp enough the likelihood of agreement increases."

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Filed under: Charles Schumer • Congress • Debt • Deficit • TV-State of the Union
soundoff (16 Responses)
  1. A Kickin` Donkey

    Relief my _____ 1

    Come November 2012 the feeling these Republican obstructionists will feel is the fear of being FIRED for hurting the country`s financial standing by this manucatured crisis.

    July 31, 2011 10:02 am at 10:02 am |
  2. Rick McDaniel

    The Dems are the obstructionists, as they want to have more spending, than makes sense.

    July 31, 2011 10:03 am at 10:03 am |
  3. vic , nashville ,tn

    Now we don’t care they got relief or not

    We are tired. Even if they get it done by Aug 2nd we won’t party

    Past 3 weeks drama was unspeakable. There is no winner may be media can analysis who is the winner we don’t care

    July 31, 2011 10:06 am at 10:06 am |
  4. GI Joe

    Wanna see where some of the debt ceiling was raised?

    The Virginia Class submarine. (The V-class was designed to attack Soviet subs. There are no more Soviet subs, but Bush ordered three dozen anyway – at $1.8 billion each).

    The GOP's spending continued at record pace, but when the bill arrived, the Republicans looked around, pointed at the working families, seniors, Medicare, veterans' benefits, Medicaid and Social Security, and said, "Let's make those that receive these benefits pay."

    Are you aware that Congressman Cantor, the guy leading the Republicans' refusal to lift the debt ceiling, voted for the V-class sub as well as Bush's bogus scavenger hunt for weapons of mass destruction in Iraq. Now, Cantor doesn't want to pay the bill.

    July 31, 2011 10:09 am at 10:09 am |
  5. T'sah from Virginia

    [The Dems are the obstructionists, as they want to have more spending, than makes sense.]

    Actually, the Repubs are the obstructionists, as they want more TAX BREAKS for the RICH, than makes sense!!!

    If they REMOVE that budget amendment clause from this – AND – promise this fight will not take place again until sometime in 2013 – that would "almost" sound bipartisan!! However, it should also include revenues and from what I am hearing – it's NOT there! Therefore, the RIGHT got over and the LEFT, once again, sacrificed more.

    TAX BREAKS for the rich has been in effect for the past 10 years – NO JOB GROWTH as a result. While everyone is "bull-crapping", where are the JOBS???????

    July 31, 2011 10:30 am at 10:30 am |
  6. annie s

    Relief? Well, yes, I'm glad the debt ceiling will be raised. But relief that the Democrats, led by our Wimp-in-Chief, once again caved into Republican demands? Sorry, I love my country too much for that.

    July 31, 2011 11:09 am at 11:09 am |
  7. Louisiana Man

    Jobs?? Ask Michelle Bachman the ultra hypocritical stance she and spouse take on how BIG GOVERNMENT is so bloated and intrusive that it added tons to the budget deficit and that it MUST be contained-
    EXCEPT FOR HER–worked for the IRS-draws paycheck from Federal Gov-health care from taxpayers-generous farm subsidies, accepts Medicaid for payment for her clinic-has a mortgage thru Freddie Mac-ALL BIG GOVERNMENT ENTITIES!!!

    July 31, 2011 11:10 am at 11:10 am |
  8. ramtruck2500

    If there is one Democratic vote for any of this teabaggin repubublican crap and cutting what I have paid in I will NEVER VOTE AGAIN! We nont need a balanced budget we need an ammendment to ban lobbyists of all kinds from the district of Columbia!

    July 31, 2011 11:10 am at 11:10 am |
  9. Kathy D

    The Republicans and Tea Partiers seem to be getting most of what they want thanks to our give-away-the-store president.....even though they are not really in power. Imagine what they'll manage to do to poor and middle class Americans.....when they win it all back.

    July 31, 2011 11:17 am at 11:17 am |
  10. vic , nashville ,tn

    Mitch McConnell “We're very close' to a deal”

    Yes they are close to deal for what they want with grandma money

    July 31, 2011 11:34 am at 11:34 am |
  11. Four and The Door

    T'sah from Virginia
    [The Dems are the obstructionists, as they want to have more spending, than makes sense.]
    Actually, the Repubs are the obstructionists, as they want more TAX BREAKS for the RICH, than makes sense!!!
    In reality, Republicans are for lower taxes for all Americans regardless of what their income level is. In fact, every taxpayer in America benefits from the Bush Tax Cuts. It is a fundamental truth in the science of Economics that lower taxes help grow economies and increase jobs. It's not an opinion or a philosophical debate. It is truth.

    But regardless of how satisfying it would feel to tax wealthy people into the dirt, we cannot tax our way to prosperity anymore. Your argument is yesterdays news. Even Democratic politicians in Washington apparently have started figuring this out.

    Our only way out of this mess is to cut spending now. It looks like this is what we are going to do.

    July 31, 2011 11:39 am at 11:39 am |
  12. Randy, San Francisco

    Seems the Tea Party hobbits have their pound of flesh at the expense of the poor, sick, and homeless.

    July 31, 2011 11:44 am at 11:44 am |
  13. pc

    i agree with KATHY D above. our president has caved on every demand from the teabaggers. we by majority in this country elected obama to run our government by democratic policys. he should have run in 2008 as a republican! he has bent over ,kissed backsides of republican rich folk an hung us democrats that elected him out to dry. i will simply stay home as well in 2012. howard dean should run for least we knew where he stood...with us!!

    July 31, 2011 11:46 am at 11:46 am |
  14. Debbie

    At this point I'm am sick of them all. They all lie! Congress sold out to lobbiest and big $$. Pure Evil.

    July 31, 2011 11:53 am at 11:53 am |
  15. w l jones

    All you here these days is debit and debt ,through history all major civilization tax there people build institution that last for thousand of years. Where would our country be without major highways through out this country? Look at all the safety net program we have in place for sole purpose that our people do do not fall through the crack by economy down turn.

    July 31, 2011 12:13 pm at 12:13 pm |
  16. 4merRepubCT

    I don't see anything about this new commission identifying revenue increases. What happened to the balanced approach and compromise???

    July 31, 2011 12:13 pm at 12:13 pm |