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Details Of Boehner's Plan Emerge
Slowly details of the shape of Boehner's two-step plan are emerging:
- BOEHNER'S FIRST STEP WOULD BOOST DEBT LIMIT INTO FEBRUARY
- BOEHNER PLAN SAID TO SEEK DEBT BOOSTS OF $1 TLN AND $1.6 TLN
- BOEHNER'S PLAN WOULD HAVE COMMITTEE IDENTIFY SPENDING CUTS
- BOEHNER'S PLAN REQUIRES HOUSE AND SENATE TO VOTE ON BALANCED BUDGET AMENDMENT BETWEEN OCTOBER AND THE END OF 2011
It is unclear if this approach is a non-starter considering that every democrat has made it clear in the past 24 hours that a partial debt increase of $1 trillion would not even be discussed as it would reach just through February or March at the current cash burn rate.
More as we get it
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Boehner's plan is still in second place behind the best option: don't raise the debt ceiling, and real cuts of an appropriate size begin immediately.
WOW ...
$1 Trill Chargex Limit increase gets them to 2012 Feb !
WOW...
Kiss the Multiple Wars goodbye, Sam...
OK new plan: Revalue Gold to $100,000 / Ozs overnight.
Then they can raid Ft Knox and have maybe $10 Trill to spend.
Hell, If we're goin down then may as well make it a party...
has made it clear in the past 24 hours that a partial debt increase of $1 trillion would not even be discussed
well then, they shouldn't even get paid. Filthy bastards; when your job is to talk, refusal to discuss something before the discussion begins should be grounds for dismissal. Or am I being too hard on our congress-critters?
If I'm a bus driver, and I'm on my first day of work, and I tell my boss before my shift, 'I'm not going to entertain the notion of driving a bus today', do I not get insta-fired??
Maybe our esteemed law-makers could take a lesson from the clock-work efficency of our public transit system /barf/
Obama knows that his reelection campaign is dead in the watter if he does not get 2.4Tn (no strings attached) he'll go under now rather than conceding and loosing out later in a fair race
He is a POS like his alter ego Mugabe.
Hey here's a thought; why don't we just raise the debt ceiling only enough cover the interest on the existing debt and then regroup and hack out a plan when we're not screwing the capital markets?
Obama is over a barrel and the Democrats know it. Yea they are staying by their president, but they do know that if a default happens they will have alot of explaining to do with their constituents.
Didn't Coburn already do this on his own to the tune of $9 trillion?
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