Tea party debt plan to go to vote in House

House Speaker John Boehner (R-OH) (L) answers questions during a press conference with U.S. House Majority Leader Eric Cantor (R-VA) (R) at the U.S. Capitol July 14, 2011 in Washington, DC. Also pictured are U.S. Rep. Peter Roskam (R-IL) (2nd L) and U.S. House Majority Whip Rep. Kevin McCarthy (R-CA) (2nd R). / Getty Images

WASHINGTON — The next step in the weeks-long saga over how to increase the government's borrowing cap is to let House tea party forces try it their way.

A Republican "cut, cap and balance" plan set for a House vote Tuesday would condition a $2.4 trillion increase in the so-called debt limit on an immediate $100 billion-plus cut from next year's budget and adoption by Congress of a constitutional amendment to require a balanced budget.

"Let's let the American people decide," said Rep. Jim Jordan, R-Ohio, on "Fox News Sunday." "Do they want something common sense as cutting spending, capping the growth in government and requiring a balanced budget amendment to the Constitution?"

The idea appears to be to allow tea party-backed GOP lawmakers to have the run of Congress this week in hopes that they'll ultimately be able to stomach a plan emerging in the Senate to give President Barack Obama sweeping power to order a $2.5 trillion increase in the debt limit without approval by Congress.

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The cut, cap and balance plan, however, is a dead letter with Obama and in the Democratic-controlled Senate — as is a separate effort by Republicans in that chamber to adopt a balanced budget amendment. Amending the Constitution requires a 2/3rds vote of both Houses, including 67 votes in the Senate, where Republicans control just 47.

"No one believes there are 67 votes for any version of that," said Dick Durbin of Illinois, the No. 2 Senate Democrat, on CBS' "Face The Nation."

Public opinion polls show that voters like the idea of a balanced budget, but the government faces such massive budget gaps — it now borrows more than 40 cents of every dollar it spends — that the cuts required to eliminate the deficit were too draconian for even the GOP-dominated House to endorse balancing the budget anytime soon. The House Republican budget still leaves deficits in the $400 billion range after 10 years.

The immediate issue is allowing the government to continue to borrow from investors and foreign countries like China to pay its bills — which include a $23 billion batch of Social Security checks set to go out the day after an Aug. 2 deadline to avoid default.

With the deadline just over two weeks away and with a recent round of White House talks failing to generate a breakthrough, Sen. Mitch McConnell, R-Ky., the cagey leader of his party in the Senate, has proposed a plan that would allow Obama to automatically win a large enough increase in the debt to keep the government afloat until 2013 unless both House and Senate override him by veto-proof margins.

McConnell's plan has political advantages but has come under assault from many conservatives eager to take advantage of the current opportunity to use the need to lift the debt ceiling to force deficit cuts now. But Republicans refuse to consider any tax revenue increases demanded by Obama and Democrats to balance any budget package, and Democrats won't go along with significant cuts to benefits programs like Medicare and Medicaid unless tax increases on the wealthy are a part of the package.

"It's not fair to ask senior citizens to pay a price, to ask families paying for their college educations, for their children to pay a price, but to leave the most privileged out of the bargain," said Jacob Lew, the White House budget director, on ABC's "This Week." "Everything has to be on the table."

That leaves lawmakers well short of the $2 trillion-plus in deficit cuts required to offset a debt increase that's big enough to solve the problem through next year's elections. A sense of futility has pervaded White House talks since Boehner abandoned hopes for a "grand bargain" with Obama a week ago Saturday, prompting McConnell to come out with his plan. Majority Leader Harry Reid, D-Nev., is on board but wants to add a plan to create yet another deficit panel, comprised entirely of lawmakers and evenly divided between the two parties, that would try to break the deadlock by the end of the year.

It's also expected that a package of spending cuts, perhaps in the $1.5 trillion range over the coming decade, would be attached to the McConnell-Reid measure, perhaps in the House.

For now, House Speaker John Boehner, R-Ohio, is standing behind his tea partiers. But he seems open to the McConnell idea.

"The cut, cap and balance plan that the House will vote on next week is a solid plan for moving forward," Boehner told reporters Friday. "Let's get through that vote, and then we'll make decisions about what will come after."

For its part, the White House continues to press in public for a large-scale bargain. But it's obviously open to the McConnell plan.

"There's multiple tracks that are being discussed," Lew said. "It's not a given how we get to raising the debt limit."

[agnesdeo]

Why hasn't Prez. Obama submitted his debt proposal/plan IN PRINT? Does he have one? Why hasn't the Democrats submitted another plan in writing, IN PRINT? Do they have one?
If you are defending their so-called debt proposal for our almost bankrupt nation...show us in writing WHAT IT IS???
Besides, spend! spend! spend! Tax! Tax! Tax!

[BoSox27]

It's sad that so many people have to result to name calling and hate speech.

To say the tea party as a whole is racist is ridiculous. I can guarantee that there are racist tea party members.

I can guarantee that there are Democrats, liberals, African Americans, Latino, Chinese, Jews, Muslims, Italian, and Irish people that are racist.

Teabaggers and Libtards? Really??? Completely immature and not even funny.

I believe all of government left, right, and middle is completely irresponsible with our money. I would like to see cuts across the board. I can only imagine the waste our hard earned dollars are spent on. Someone needs to put "Theoretical" hand cuffs on the people responsible for all the waste.

Any time I can keep more of my hard earned money and my boss isn't getting screwed over and has a little more to pass around I'm a happy camper. I've never worked for a poor person before and they certainly couldn't afford to give me a raise.

[BoSox27]

I also think all the tax loop holes are outrageous. Why cant we all just pay 10% ? If you made $100 last year you owe $10 if you make $100,000 you pay $10,000, if you are a "greedy rich person" and make 10,000,000 a year you owe 1 million dollars. That's a lot of money and they would still pay so much more than the average american. Fair is fair and we would all save a ton of money.

[jimbom121]

BoSox

We can't close the loopholes until we get the $$ out of our political system. The lobbyists put those loopholes in...that is why they are there.

[noloyalisti]

How can they use Tea Bag Party and plan in the same sentence. The Tea Bag KKKlan has one goal: to turn all the wealth of the US over to a few of their billionaire corporate masters. The KKKlan is just a front group for these insidious maniacs who want to turn America into a third world worker slave state. So far it is working like a charm.

[bileven]

That has to be one of the most unintelligent things I have ever read. The Tea Party was founded to go against the Corporate Politicians. The votes have been to block the Corporate backed spending. Maybe you should spend more time researching and less time forming opionions based on liberl media drivel.

[jimbom121]

bileven

You'v ebeen duped if you think the Tea Party was founded to go against Corporate Politicians. Who do you think is funding the Tea Party? Check out who funds Freedomworks and the other "grass roots" Tea Partiers.

Please name one vote that the Tea Party has voted for that blocks corporate backed spending?

[noloyalisti]

The picture above is like a criminal line-up of people trying to steal all American wealth for their campaign donors. The Republicon sell-outs might as well be wearing patches from GE, Wal-Mart, Halliburton, Exxon, B of A, Chevron and Wells Fargo, etc.

[Progress4U]

Patches over one eye and a peg leg with a GOP parrot spewing the party line.

[sjc_1]

Newt had a balance budget amendment idea in 1994. You mean to tell me it took the GOP 17 years to suddenly think this was a good idea?

[bileven]

Nooo, it's just been late long since their was a Republican controlled Senate during a severe defeceit and/or recession.

Keep in mind, Clinton had a Republican controlled Congress... And Congress is responsible such things. And knowledge of history affords someone to understand that the same conflict we watch going on in government took place at that time, too.

Clinton also threatened not signing the Social Security checks, too. Didn't happen...

Congress approves the amount for the budget, the President decides how to spend it...

[sjc_1]

Republicans controlled the House 1995-2006, but you did not hear much about an amendment. Republicans controlled the whole Congress and the White House 2003-2006, but you did not hear anything about an amendment, in fact they added $2.5 more to the debt.

[Lindag10]

More posturing. People aren't buying it. Taxes need to be increased on the corporations and subsidies to them need to end. Everyone else has had to suck it up but them. They've enjoyed LOW tax rates and handouts for 10 years and WHERE ARE THE JOBS they promised?

[bileven]

Problem is, Corporations are funding many of the Democrats... Check the rolls, follow the money.

Some people are just clueless, the Wealthest people already pay 15% more. And so now we are going to punish those for working hard and prospering? Everyone should pay their fair SHARE, not a few supporting the slugs...

Only in a Socialist Society does the the few support the system, while the rest live off the governement, and especially worst, once those few become the ONLY support for the system... Well, then they have the power... Which becomes Communism.

Corporations don't pay taxes because Corporations don't make that much money.

The investors of the Corporations are the one's that make the money... Those same investors are funding "Special Tax Shelters", like American Cancer Foundation, United Way, etc...

[jimbom121]

Corporations don't pay taxes because Corporations don't make that much money.
-------------------------------------------

huh? Corporations are in place for the sole purpose of making money. Their profits have been at record highs for the last 2 years. They are also sitting on trillions of dollars. Corporations don't pay taxes because they have lobbied for loopholes.

Look at the 2010 campaign. More corporate money went to the GOP through the Chamber of Commerce than went to Dems.

[Levygp]

I am so proud of you guys in that photograph. You ought to be wearing American Medals of Honor. Been a long time since any of us back home in California were proud of the GOP. Now we are more than proud. We are honored to have you in Congress, and pray for your success. Stand and deliver!!! Do it for veterans, the elderly, the young people striving to get along in this tough world, for our children, for Whites, and Blacks, and Latinos, and
Asian-Americans, and old and new Americans. Do it for yourselves too. You guys are going to be in office a long time.

[bileven]

Pahgre... newsflash, Democratic controlled Legislature and Executive offices have tripled in 2 years what Bush/Cheney had approved through the Democratic Congress the last 4 years of the term.

The GOP is fighting to prevent further, long term hardship by limiting the outrageous spending... but maybe you enjoy sending 3.2 BILLION dollars to Pakistan. Maybe you think it's ok to spend over 5 BILLION on the Corporation known as "Planned Parenthood"...

Well, you can donate all your earnings..

[jimbom121]

bileven

The GOP just voted to raise the deficit by over $6T over the next 10 years.

Planned Parenthood receives about $400m from the federal government to provide health services to the poor. How much did Exxon Mobil receive from the government?

[noloyalisti]

The Tea Bag KKKlan has become a paid front group for the billionaires and their Republicon Corporation slaves in Congress. Tell and friend and let's delegitimize this freak show.

[singlepayer4all]

I agree, and anyone who thinks the tea bag group is looking out for the country is either a billionaire or a small brain trigger happy idiot who has been brainwashed by fox news..

[aikishihan]

Speaking of freak shows, how's your mom doing?

[Levygp]

Thank you, Kevin McCarthy. You d'MAN. Help the Tea Party, and Boehner, and Cantor, and Michele Bachmann. Let's win this thing now. There is no leader in the White House who should be able to frighten you guys. No leader, period, in the White House. Wouldn't it be nice if the NFL lock out and the Debt problem were solved on the same day? You betchum. Go for the jugular. Pray for Heavenly guidance. No more press conferences until this is over. America is emerging from a terrible "Sunami."

[noloyalisti]

We have REVENUE problem due to bankster corporation Ponzi scheme and the Bush tax cut welfare for the millionaires and billionaires.

[bileven]

We are in debt because of hundred year old banking policy. Congress allowed for the formation of a "Central Bank" and deemed the responsiblity to others...

Everything Bush/Cheney did was under the approval of Congress. Democratic controlled Congress... so if you want to blame.. blame those truely responsible.

I also think they "bully" Politics of the Democrats is pure BS! They are threathening Social Security and Medicare, but the President has no problem sending billions to Planned Parenthood and Foreign Contries...

I mean seriously, we are hurting and the President and Democrats are fighting to keep funding to 3rd World Countries, where the citizens are killing our soldiers!!!

[noloyalisti]

The unregulated free market is a scam and a failure and always has been. Now we are seeing the truth.