Just as conservative bloggers have been saying, August 2nd is not a hard deadline
for enacting debt limit legislation. August 10 or so is more probable, according to Neil Cavuto’s guest today, and this minute, Byron York on with Cavuto. But Obama Press Secretary Jay Carney said yesterday: “That deadline is hard and fast. There are no off-ramps….” But nevermind, heard on Fox radio today that Bret Baier (anchor of Fox’s Special Report) said he was on a conference call with either S&P and/or Moodys, and was told in order to keep our credit rating, we have to have in excess of $4 Trillion in spending cuts. It quotes S&P president Deven Sharma, saying:
“We’re just commenting on what is a level of debt burden, what is the level of deficit that must meet the threshold to retain this AAA.
Was he alluding to the $4 Trillion+? If so we haven’t even reached the $1 Trillion mark – so guess what? Our credit will be downgraded (as I said, if true), meaning Barack Obama is on his own, very personal path to downgrade.
Barack Obama is piling up a lot of “firsts,” and if this story is true his presidency has been the first in history to preside over this country’s “first in history,” credit downgrade, which is definitely a downgrade for Barack Obama. Reaganite Republican details other “lows” Obama is facing, and has a theory about Bill and Hillary Clinton. A credible theory.
Despite President Obama’s promises to rein in health care costs as part of his reform bill, health spending nationwide is expected to rise more than if the sweeping legislation had never become law.
[Direct from The Lonely Conservative]: The company I worked for received a notice from our health insurance carrier telling us they’ve requested a rate increase in the 9% range for next year. They went on to say that when Obamacare is fully implemented rates will increase even more. Read the details at The Lonely Conservative.
JAMES CLYBURN, (D-SC) HOUSE ASST MINORITY LEADER: He should sign an executive order invoking the 14th Amendment to this issue.
Never done before…unconstitutional.
This 3:00 pm EDT report saying Senator Harry Reid is promising gridlock. Just as Reid said dealing with the House plan Cut, Cap and Balance was a “waste of time,” he says the Boehner plan is also a “waste of time.” Many suspect Reid will tweak Boehner’s plan, pass it and blame Republicans for what the bill will not do.
“Boehner’s bill dies tonight,” Reid communications director Adam Jentleson wrote on Twitter. “Forever.”
The Reid plan does nothing – cuts military spending and calls it both good and new spending cuts, when the spending is already phased out as we draw down on Afghanistan and Iraq. The House has had two bills, assuming Boehner’s passes today. That’s 2 and nada. Republicans should have walked away after passing Cut, Cap and Balance and offered nothing else.