Tag Archive | debt limit

The Debt Deal Could Lead To Big Cuts In ObamaCare

Looks like Boehner and the GOP snuck a provision past the Democrats that they probably wish they’d caught:

The debt ceiling agreement could jeopardize millions of dollars, and perhaps billions, in initiatives from President Barack Obama’s health care reform law if the super committee can’t come up with required spending cuts.

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Palin Declares A (Qualified) Victory

Sarah Palin seems to have the right idea on the debt limit deal (emphasis in original):

Former Alaska Gov. Sarah Palin said Monday’s House vote to lift the debt ceiling was a victory for the tea party, proving that conservative activists had shifted the conversation in Washington.

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US Now Borrowing More Than We Make

Brought to you by the big spenders in both parties, but especially the Democratic Party (which presided over the so-called stimulus and ObamaCare), including the Spender-in-Chief in the White House, the US is officially underwater:

US debt shot up $238 billion to reach 100 percent of gross domestic project after the government’s debt ceiling was lifted, Treasury figures showed Wednesday.

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Think The Debt Deal Avoided A Downgrade? Perhaps Not

Sorry, it wasn’t the debt limit, but the direction our spending has been going–up, and still going up, though at a slower rate–that was the issue in the credit rating downgrade:

Though the bill removes the threat of imminent default by raising the national debt limit enough to last until 2013, its cuts are only about half the $4 trillion in savings that ratings agencies Standard & Poor’s and Moody’s have said would be enough to confirm the country’s triple-A rating with a stable outlook.

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Debt Ceiling Deal Passes House, 269-161

This isn’t the big story of the evening… that’ll be posted next, but it’s still worth reporting that the Debt Ceiling Deal has passed the House (probably the biggest hurdle), 269-161.

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Debt-Ceiling Hike Looks Likely To Pass

The Hill has the report:

The debt-limit deal announced on Sunday night is expected to attract more than 60 votes in the Senate, but its outlook in the House is much more cloudy.

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Boehner’s Plan Passes House

Step One, completed (emphasis in original):

The House approved legislation on Friday by Speaker John Boehner, R-Ohio, to reduce the deficit by $915 billion over 10 years and increase the federal debt ceiling by $900 billion. The bill would allow for an additional $1.5 trillion increase in the debt ceiling early next year contingent on two outcomes: Congress enacting further deficit reductions and a balanced budget amendment sent to the states.

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