DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - House GOP schooled on debt default aftermath; Path to compromise comes into focus

**rostpribru** · 07-17-2011, 01:02 AM

The flurry of activity in GOP meetings this weekend now revolves around saving face while allowing a debt ceiling increase to move forward. It could get a little acrobatic. For instance, a Boehner plan under consideration would involve voting on a pair of bills formalizing intended to put their program cut demands and balanced budget demands up for a vote. The bills don't stand a chance of becoming low, they're intended solely to allow Tea Party house members to go back to their constituents able to say they voted against Obama.

It's expected that something closer to the McConnell / Reid compromise will be taken up for vote by next week, with the only real hurdles to passage expected to be filibuster attempts by the likes of Jim DeMint. I'd frankly be surprised if Michelle Bachmann doesn't see an opportunity to use a filibuster as an opportunity for campaign grandstanding.

LA Times: http://www.latimes.com/news/nationwo...,3724140.story

For weeks, GOP conservatives, particularly in the House, have issued demands about what they would require in exchange for their votes to increase the debt limit. In negotiations with the White House, Republican leaders have found those demands were unattainable. Unwilling to risk the economic and political consequences of a federal default, which could come as early as Aug. 2, they have started the difficult process of standing down.

At a closed-door meeting Friday morning, GOP leaders turned to their most trusted budget expert, Rep. Paul D. Ryan of Wisconsin, to explain to rank-and-file members what many others have come to understand: A fiscal meltdown could occur if Congress fails to raise the debt ceiling.

House Speaker John A. Boehner of Ohio underscored the point to dispel the notion that failure to allow more borrowing is an option.

"He said if we pass Aug. 2, it would be like 'Star Wars,'" said Rep. Scott DesJarlais, a freshman from Tennessee. "I don't think the people who are railing against raising the debt ceiling fully understand that."

The warnings appeared to have softened the views of at least some House members who, until now, were inclined to dismiss statements by administration officials, business leaders and outside economists that the economic impact would be dire if the federal government were suddenly unable to pay its bills.

Freshman Rep. Steve Womack (R-Ark.) said the presentation about skyrocketing interest rates that could result from downgraded bond ratings was "sobering."

"It illustrates to us that doing nothing is unacceptable," he said. "I think the conference understands this is a defining moment for us. It's time to put the next election aside."

07-17-2011, 01:02 AM	#1
rostpribru Join Date Nov 2005 Posts 497 Senior Member	House GOP schooled on debt default aftermath; Path to compromise comes into focus The flurry of activity in GOP meetings this weekend now revolves around saving face while allowing a debt ceiling increase to move forward. It could get a little acrobatic. For instance, a Boehner plan under consideration would involve voting on a pair of bills formalizing intended to put their program cut demands and balanced budget demands up for a vote. The bills don't stand a chance of becoming low, they're intended solely to allow Tea Party house members to go back to their constituents able to say they voted against Obama. It's expected that something closer to the McConnell / Reid compromise will be taken up for vote by next week, with the only real hurdles to passage expected to be filibuster attempts by the likes of Jim DeMint. I'd frankly be surprised if Michelle Bachmann doesn't see an opportunity to use a filibuster as an opportunity for campaign grandstanding. LA Times: http://www.latimes.com/news/nationwo...,3724140.story For weeks, GOP conservatives, particularly in the House, have issued demands about what they would require in exchange for their votes to increase the debt limit. In negotiations with the White House, Republican leaders have found those demands were unattainable. Unwilling to risk the economic and political consequences of a federal default, which could come as early as Aug. 2, they have started the difficult process of standing down. At a closed-door meeting Friday morning, GOP leaders turned to their most trusted budget expert, Rep. Paul D. Ryan of Wisconsin, to explain to rank-and-file members what many others have come to understand: A fiscal meltdown could occur if Congress fails to raise the debt ceiling. House Speaker John A. Boehner of Ohio underscored the point to dispel the notion that failure to allow more borrowing is an option. "He said if we pass Aug. 2, it would be like 'Star Wars,'" said Rep. Scott DesJarlais, a freshman from Tennessee. "I don't think the people who are railing against raising the debt ceiling fully understand that." The warnings appeared to have softened the views of at least some House members who, until now, were inclined to dismiss statements by administration officials, business leaders and outside economists that the economic impact would be dire if the federal government were suddenly unable to pay its bills. Freshman Rep. Steve Womack (R-Ark.) said the presentation about skyrocketing interest rates that could result from downgraded bond ratings was "sobering." "It illustrates to us that doing nothing is unacceptable," he said. "I think the conference understands this is a defining moment for us. It's time to put the next election aside."
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