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Boehner pulls out of White House debt talks
A frustrated president calls leaders back to the negotiating table Saturday .
http://www.msnbc.msn.com/id/43851666/ns/politics-capitol_hill/
WASHINGTON — President Barack Obama said Friday night that House Speaker John Boehner was "walking away" from negotiations to the nation's debt ceiling and avert financial catastrophe.
Still, Obama said he was expecting congressional leaders from both parties at the White House Saturday morning.
In a dramatic appearance in the White House briefing room Obama said it was up to congressional leaders to explain to him how they intend to avoid the default that is threatened after Aug. 2.
"I expect them to have an answer in terms of how they intend to get this thing done in the course of the next week. The American people expect action," Obama said.
"This was an extraordinary fair deal," said the president. "If it was unbalanced, it was unbalanced in the direction of not enough revenue."
He said Republicans need to ask themselves, "Can they say 'yes' to anything?"
"We have now run out of time," said Obama. "What we're not going to do is continue to play games and string this along," said the president. "I've been left at the altar now a couple of times."
He added, "I cannot believe that Congress would be that irresponsible that they would not pass a package to avoid a self inflicted wound."
Boehner, called his own news conference to respond to the president, said, "It's time to get serious ... if the White House won't get serious, we will."
He said negotiations broke down because the White House insisted on raising taxes and "refused to get serious" about spending cuts and entitlement reform.
"We've put plan after plan on the table ... never once did the president come to the table with a plan," said Boehner. "We were always pushing."
In a letter circulated to the House Republican rank and file, the speaker said he had withdrawn from the talks with Obama because "in the end, we couldn't connect." He said he would turn instead to negotiations with leaders of the Senate, which is controlled by majority Democrats.
The disconnect in the talks with the White House, Boehner said, was "not because of different personalities, but because of different visions for our country.
The talks had veered uncertainly for weeks, generating reports as late as Thursday that the two sides were possibly closing in on an agreement to cut $3 trillion in spending and add as much as $1 trillion in possible revenue while increasing the government's borrowing authority of $2.4 trillion.
That triggered a revolt among Democrats who expressed fears the president was giving away too much in terms of cuts to benefit programs for the elderly while getting too little by way of additional revenues.
Obama for the first time declined to offer assurances, when asked, that default would be avoided. He said he was consulting with Treasury Secretary Timothy Geithner about what the consequences would be for Social Security recipients and others "if we default."
Later, he said he was confident the debt limit would be raised and default would be avoided.
http://www.msnbc.msn.com/id/43851666/ns/politics-capitol_hill/
WASHINGTON — President Barack Obama said Friday night that House Speaker John Boehner was "walking away" from negotiations to the nation's debt ceiling and avert financial catastrophe.
Still, Obama said he was expecting congressional leaders from both parties at the White House Saturday morning.
In a dramatic appearance in the White House briefing room Obama said it was up to congressional leaders to explain to him how they intend to avoid the default that is threatened after Aug. 2.
"I expect them to have an answer in terms of how they intend to get this thing done in the course of the next week. The American people expect action," Obama said.
"This was an extraordinary fair deal," said the president. "If it was unbalanced, it was unbalanced in the direction of not enough revenue."
He said Republicans need to ask themselves, "Can they say 'yes' to anything?"
"We have now run out of time," said Obama. "What we're not going to do is continue to play games and string this along," said the president. "I've been left at the altar now a couple of times."
He added, "I cannot believe that Congress would be that irresponsible that they would not pass a package to avoid a self inflicted wound."
Boehner, called his own news conference to respond to the president, said, "It's time to get serious ... if the White House won't get serious, we will."
He said negotiations broke down because the White House insisted on raising taxes and "refused to get serious" about spending cuts and entitlement reform.
"We've put plan after plan on the table ... never once did the president come to the table with a plan," said Boehner. "We were always pushing."
In a letter circulated to the House Republican rank and file, the speaker said he had withdrawn from the talks with Obama because "in the end, we couldn't connect." He said he would turn instead to negotiations with leaders of the Senate, which is controlled by majority Democrats.
The disconnect in the talks with the White House, Boehner said, was "not because of different personalities, but because of different visions for our country.
The talks had veered uncertainly for weeks, generating reports as late as Thursday that the two sides were possibly closing in on an agreement to cut $3 trillion in spending and add as much as $1 trillion in possible revenue while increasing the government's borrowing authority of $2.4 trillion.
That triggered a revolt among Democrats who expressed fears the president was giving away too much in terms of cuts to benefit programs for the elderly while getting too little by way of additional revenues.
Obama for the first time declined to offer assurances, when asked, that default would be avoided. He said he was consulting with Treasury Secretary Timothy Geithner about what the consequences would be for Social Security recipients and others "if we default."
Later, he said he was confident the debt limit would be raised and default would be avoided.
I got no wice, but I got chop-stick.
I make a special wonton-soup fo you. You wan fortune-cookie?
United State of Amewika... actually, in 10-15 years, it's going to be the United State of China (USC instead of USA).
And so it begins...
I make a special wonton-soup fo you. You wan fortune-cookie?
United State of Amewika... actually, in 10-15 years, it's going to be the United State of China (USC instead of USA).
And so it begins...
Got Rice?
All I know is, that we're stuck with our debt if we can’t budge it...
(pun intended)
(pun intended)
The old addage goes, "if you're not part of the solution, you're part of the problem". Politicians are the problem. They are what's got us into this fine position, and they will keep us there.
The good news is, we're screwed. Better new's is, China makes a cheaper Vaseline so it should be relatively painless with the exception of the lead additive.
The good news is, we're screwed. Better new's is, China makes a cheaper Vaseline so it should be relatively painless with the exception of the lead additive.
I heard exactly the same thing. I have decided I am going to just believe something will happen. God help all of us if China becomes the next major superpower. I have nothing against China, but have no desire to move into a communist dominated world. Gooo USA!!!!
They are saying, that something needs to happen today, before 8pm tonight when the asian markets get active. Supposedly, if they go wacky tonight tomorrow we will have a sell off. hmmmm. Dumb *** politicians!
I'm not sure about that. Our dollar just rose to $1.06 US which is not the norm at all, and traders are reporting the DOW being affected. Interestingly, our dollar rose the very day Bohner pulled out of the talks. I don't think anyone is panicked yet, but it does seem to be having an impact, at least in a small way. It actually isn't good for us when our dollar gets higher then yours...it impacts US buying from us. Sounds crazy, but it is healthier for our economy when your dollar is strong... it keeps ours strong, but below the value of yours.
The markets to date dont seem to be too worried. That could change any time. Then we know we got issues imminent. imo
Yes, it is interesting.
I agree that the need for power is over shadowing everything else in our government right now; it's all detrimental to the people, but the politicians are hellbent on getting their way, no matter who they hurt.
Yes, the world would change dramatically if either China or India become the major superpower.
It's too bad there isn't a way to get the attention of the politicians and let them know that everyone is tired of their posturing and rhetoric. I've tried contacting my Congressmen and don't get responses.
I agree that the need for power is over shadowing everything else in our government right now; it's all detrimental to the people, but the politicians are hellbent on getting their way, no matter who they hurt.
Yes, the world would change dramatically if either China or India become the major superpower.
It's too bad there isn't a way to get the attention of the politicians and let them know that everyone is tired of their posturing and rhetoric. I've tried contacting my Congressmen and don't get responses.
It is interesting stuff when you read up on it isn't it. I'm not typically very doom and gloom either, but will admit that right now I am very frightened. I feel like so much of the future of so many countries is caught up in these guy's inability to get along and it's such a helpless feeling. I usually believe the best in people, but right now fear the drive and need for power has hit that point where it's all that matters. It's happened in Rome, in Russia, every major super power in history. I want the US to remain the great superpower...China and India are waiting in the wings and we would see the world change dramatically if that were allowed to happen. I think I need to stop following the economists...yep, I'm scared.
I haven't read that book, but I believe I've read history has shown that democracies generally only last around +/-200 yrs then they collapse, because the greed and demand for power, brings it all down.... at 235 yrs (1776-2011), the US has done well.
I'm not a "doom and gloom" type person (actually the exact opposite aka "eternal optimist"), but I'm glad I'm old and probably won't live long enough to see the worst of it.
I'm not a "doom and gloom" type person (actually the exact opposite aka "eternal optimist"), but I'm glad I'm old and probably won't live long enough to see the worst of it.
Obama will make sure it is raised, one way or the other Im sure of it. So are the republicans it seems.
This is all that is on the news here now as well. Please, please let them put their pride away and their election bids on hold and come up with a solution. Global consequences here.
Has anyone else here read the book "Collapse". It basically is about the rise and fall of every major superpower, starting with the Roman Empire. The theme behind the collapse of each is pretty much the same. Power and corruption on part of those in charge. Just like what is happening in the US now. They have to come up with a solution. They can hate each other again tomorrow, but today...they just have to do what is right. It's the average person that suffers, and they didn't do anything to deserve it. This is just so wrong.
Has anyone else here read the book "Collapse". It basically is about the rise and fall of every major superpower, starting with the Roman Empire. The theme behind the collapse of each is pretty much the same. Power and corruption on part of those in charge. Just like what is happening in the US now. They have to come up with a solution. They can hate each other again tomorrow, but today...they just have to do what is right. It's the average person that suffers, and they didn't do anything to deserve it. This is just so wrong.
I guess a pact IS more important...SMH!!!
It isnt about anything other than them bowing to Norquist the lobbyist. Anyone breaking the pact will be ruined. They have put their pact above the country. Everyone I know, regardless of party are ticked. Im thinkin they just may have cooked their gooses and ours too.
"Republican aides said the White House had demanded additional tax increases during the week, in the wake of a proposal by the bipartisan "Gang of Six" in the Senate, who called for an overhaul of the tax code that would increase revenue by $1 trillion over a decade."
What is wrong with this? I don't see anything wrong with this...OMG the tax breaks need to end and OH WELL if the so called "RICH" has to pay a little more. The Middle Class has been paying more for YEARS. Quite frankly I'm Middle Class and I'm SICK OF IT!!! Give me and My husband and every other hard working Middle Class American that is not getting assisted by the government in any way shape or form a tax break for once!!..It's for your country DO THE RIGHT THING!!! ugghhh. I CAN'T!!!
What is wrong with this? I don't see anything wrong with this...OMG the tax breaks need to end and OH WELL if the so called "RICH" has to pay a little more. The Middle Class has been paying more for YEARS. Quite frankly I'm Middle Class and I'm SICK OF IT!!! Give me and My husband and every other hard working Middle Class American that is not getting assisted by the government in any way shape or form a tax break for once!!..It's for your country DO THE RIGHT THING!!! ugghhh. I CAN'T!!!
UPDATE::: SAme link as above @msnbc.com
Barring action by Congress by an Aug 2 deadline, the Treasury will be unable to pay all its bills. Officials say a default could destabilize the already weakened U.S. economy and send major ripple effects across the globe.
Even by the recent standards of divided government, Boehner's decision triggered an extraordinary evening as first the Democratic president and then the Republican speaker maneuvered for political position on an issue of enormous national import.
Unspoken, yet unmistakable in all the brinkmanship was the 2012 election campaign, still 18 months away, with the White House and both houses of Congress at stake.
The president avoided direct criticism of Boehner, although he did mention that his phone calls to the speaker had gone unreturned during the day.
A White House official told NBC News that the president called Boehner on Thursday night, but did not hear back. Then, Friday afternoon, the speaker's office reportedly emailed the White House to say Boehner would be available to talk at 5:30 p.m. ET. The White House called the speaker's office after that email was received to ask if they just talk right then, but his aides reiterated that Boehner would be availabe at 5:30 p.m. ET. It was during that call that the speaker walked away from the talks.
Boehner said he would attend the Saturday meeting at the White House.
"Failing to raise the debt ceiling would do irreparable harm to our credit standing, would undermine our ability to lead on global economic issues and would damage our economy," former Treasury Secretary Henry Paulson, a Republican, told reporters during the day.
Current administration officials and Federal reserve Chairman Ben Bernanke have said much the same thing for weeks — while gridlock persisted in Congress.
Obama said his only requirement for an agreement was legislation that provides the Treasury enough borrowing authority to tide the government over through the 2012 election.
Senate Majority Leader Harry Reid, D-Nev., agreed in a written statement, saying a shorter-term extension was unacceptable.
His counterpart, Senate Republican Leader Mitch McConnell supported Boehner for "insisting on reducing spending and opposing the president's call for higher taxes on American families and job creators."
Not for the first time, he said, "it's time now for the debate to move out of a room in the White House and onto the House and Senate floors."
The two Senate leaders will be among the lawmakers at the White House meeting called by the president, presumably joined by Boehner and Rep. Nancy Pelosi, the House Democratic leader.
At the same time Obama and Boehner sought to define the clash to their political advantage, their aides provided details of the talks that had ended without an agreement.
Republican aides said the White House had demanded additional tax increases during the week, in the wake of a proposal by the bipartisan "Gang of Six" in the Senate, who called for an overhaul of the tax code that would increase revenue by $1 trillion over a decade.
Additionally, the aides said the two sides were not able to bridge their differences over the triggers designed to force Congress to enact both tax reform and cuts to Medicare and other benefit programs by early next year.
Barring action by Congress by an Aug 2 deadline, the Treasury will be unable to pay all its bills. Officials say a default could destabilize the already weakened U.S. economy and send major ripple effects across the globe.
Even by the recent standards of divided government, Boehner's decision triggered an extraordinary evening as first the Democratic president and then the Republican speaker maneuvered for political position on an issue of enormous national import.
Unspoken, yet unmistakable in all the brinkmanship was the 2012 election campaign, still 18 months away, with the White House and both houses of Congress at stake.
The president avoided direct criticism of Boehner, although he did mention that his phone calls to the speaker had gone unreturned during the day.
A White House official told NBC News that the president called Boehner on Thursday night, but did not hear back. Then, Friday afternoon, the speaker's office reportedly emailed the White House to say Boehner would be available to talk at 5:30 p.m. ET. The White House called the speaker's office after that email was received to ask if they just talk right then, but his aides reiterated that Boehner would be availabe at 5:30 p.m. ET. It was during that call that the speaker walked away from the talks.
Boehner said he would attend the Saturday meeting at the White House.
"Failing to raise the debt ceiling would do irreparable harm to our credit standing, would undermine our ability to lead on global economic issues and would damage our economy," former Treasury Secretary Henry Paulson, a Republican, told reporters during the day.
Current administration officials and Federal reserve Chairman Ben Bernanke have said much the same thing for weeks — while gridlock persisted in Congress.
Obama said his only requirement for an agreement was legislation that provides the Treasury enough borrowing authority to tide the government over through the 2012 election.
Senate Majority Leader Harry Reid, D-Nev., agreed in a written statement, saying a shorter-term extension was unacceptable.
His counterpart, Senate Republican Leader Mitch McConnell supported Boehner for "insisting on reducing spending and opposing the president's call for higher taxes on American families and job creators."
Not for the first time, he said, "it's time now for the debate to move out of a room in the White House and onto the House and Senate floors."
The two Senate leaders will be among the lawmakers at the White House meeting called by the president, presumably joined by Boehner and Rep. Nancy Pelosi, the House Democratic leader.
At the same time Obama and Boehner sought to define the clash to their political advantage, their aides provided details of the talks that had ended without an agreement.
Republican aides said the White House had demanded additional tax increases during the week, in the wake of a proposal by the bipartisan "Gang of Six" in the Senate, who called for an overhaul of the tax code that would increase revenue by $1 trillion over a decade.
Additionally, the aides said the two sides were not able to bridge their differences over the triggers designed to force Congress to enact both tax reform and cuts to Medicare and other benefit programs by early next year.
Hahahaha!!!! She did hold the wrong side of her face...YES they (Congress) all need that!!! Thanks R...I that made my day!!! LOL
What we need is The Reagan approach.
http://www.youtube.com/watch?v=b7CHKgQvKvA&feature=related
http://www.youtube.com/watch?v=b7CHKgQvKvA&feature=related
"This was an extraordinary fair deal," said the president. "If it was unbalanced, it was unbalanced in the direction of not enough revenue."
His plan was VERY fair.....I'm beginning to believe the Repubs really don't care what happens. They'd rather stick to what their principles are instead of compromise for the good of our Country..SMH.....What now?
His plan was VERY fair.....I'm beginning to believe the Repubs really don't care what happens. They'd rather stick to what their principles are instead of compromise for the good of our Country..SMH.....What now?
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