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Home Front: Politix

Obama Hosts Last-Ditch Debt Talks

2011-07-24

[An Nahar] U.S. President Barack B.O. Obama met with congressional leaders Saturday for last-ditch White House talks on forging a deal to raise the nation's debt ceiling, officials said.

The talks with Democrats Senate Majority Leader

Harry Reid
... the charismatic senator-for-life from Nevada, currently majority leader ...
and House Democratic Leader Nancy San Fran Nan Pelosi
Congresswoman-for-Life from the San Francisco Bay Area, born into a family of politicians. Formerly Speaker of the House, but it's not her fault they lost. Really. Noted for her heavily botoxed grimace...
as well as Republican House Speaker John It is not pronounced 'Boner!' Boehner
... the occasionally weepy leader of House Republicans...
and Senate Minority Leader Mitch McConnell broke up after about 50 minutes.

Vice President

Joe Foreign Policy Whiz Kid Biden also participated in the Cabinet Room meeting which came just a day after talks collapsed as part of efforts to avoid an August 2 debt default.

Which is likely the reason why it lasted only 50 minutes...

It was not immediately known if any progress had been made on Saturday as Congress leaders left the building without making any statements.

Obama called the emergency White House summit late Friday after the talks on forging a compromise blending ambitious deficit-cutting plans with raising the $14.3 trillion U.S. debt limit broke down amid angry finger-pointing.

Ahead of Saturday's negotiations, Obama renewed his demand that any final deal raise tax revenues from the rich and wealthy corporations, a proposal fiercely opposed by his Republican foes who quit the talks over the issue.

"That's the heart of this approach: serious cuts, balanced by some new revenues," the president said in his weekly address, forecasting "plenty of haggling over the details in the days ahead."

Posted by:Fred

#7 If they all would just stay in that DITCH all we would have to do is get a bulldozer to fill it in, problem solved!

Posted by: Ulusotch Big Foot2328 2011-07-24 17:14

#6 Early this w/end Bammy threw his Democraptic buddies under the bus with his comment about trying to right the wrongs of the previous congress. i think he meant adminstration but the TOTUS fixed it for him.

The fact that the top 4 Congrsscritters are at least trying to wrk together says a lot, and part of that message is that Bammy has to eat at the kiddie table.....

Posted by: USN,Ret. 2011-07-24 14:33

#5 As of yesterday, Obama was clearly willing to make at least some cuts (some gimmicky but some real) and enact some entitlement reforms and some tax reforms.

name one that he has specifically identified. He spouts BS, the press laps it up, and pronounces him as the "adult" and says how much he's compromised. He has not put out a specific plan since his Feb budget went down 0-97 in the Senate

Posted by: Frank G 2011-07-24 11:30

#4 Obama has gone thru an evolution on this.

In 2009 and early 2010 Obama said, "lets wait for what the deficit commission says"

In late 2010 when the deficit commission reported, Obama said, "we are looking at what they said"

In Feb 2011, he submitted a budget with no cuts and not entitlement reform and no tax reform

In April 2011, he made a speech which mentioned some of these but it didn't have hard numbers

As of yesterday, Obama was clearly willing to make at least some cuts (some gimmicky but some real) and enact some entitlement reforms and some tax reforms.

Posted by: Lord Garth 2011-07-24 11:26

#3 "That's the heart of this approach: serious cuts, balanced by some new revenues,"

In other words, redistribution of the redistribution without reducing the size of the engine of redistribution. Or, more of the same.

Posted by: Bobby 2011-07-24 11:21

#2 Why talk with anyone who lacks integrity?
It's like Lucy and Charlie Brown with the football gig.

Posted by: Procopius2k 2011-07-24 08:11

#1 There's big money to be made in these manipulations and guess who will make it. Nothing will happen prior to the market dip and their 'buy orders' are actioned.

Posted by: Besoeker 2011-07-24 07:36

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