I understand the debt ceiling deal is probably going to pass. I’m not even comfortable unequivocally urging members to vote against it, given all the real loyalties and future relationships and competing responsibilities actual members have to deal with. And I’m not sure I’d urge anyone to vote against it if he were the 51st or 218th vote, because I don’t know that one could adequately manage, either in the real world or the political one, the consequences of “default.”Read more
Anyone considering opposing the debt ceiling deal will be accused of being ... not just a hobbit (!), but also a totally irresponsible full-faith-and-credit-of-the-U.S.-government defaulter. Not so—if the anti-deal position is not pro-default.
So, anti-dealers could:
I’m pretty much where Mitt Romney is on the deal to raise the debt ceiling: On the one hand, it “opens the door to higher taxes and puts defense cuts on the table.” On the other hand, “I appreciate the extraordinarily difficult situation President Obama’s lack of leadership has placed Republican Members of Congress in.” Net: “I personally cannot support this deal”—but, as is implied by the tone and brevity of Romney’s statement, I wouldn’t denounce members of Congress who support it.Read more
Presidential candidate Mitt Romney has just issued a statement on the debt ceiling deal, saying that he "personally cannot support the deal." Instead, Romney says, his "plan would have produced a budget that was cut, capped and balanced – not one that opens the door to higher taxes and puts defense cuts on the table." Romney's hesitation of supporting a deal with defense cuts puts him in line with John Bolton's criticism of the proposed debt ceiling deal.Read more
John Bolton has just issued a thoughtful statement raising “serious questions ... about the national-security implications of the proposed deal to raise the Federal debt ceiling.” Bolton calls attention to the worrisome short-term defense cuts that the deal makes likely, and to the huge medium- and long-term cuts that the deal’s triggering mechanism makes possible.Read more
Talking Points Memo: "Reid Agrees To Major Debt Limit Deal — Here’s What He’s Signed Off On"
Tim Carney: "Democrats put politics ahead of policy -- again"Read more
Speaker of the House John Boehner has put together a PowerPoint presentation (accessible here) to explain the deal reached between congressional leaders and the president to raise the debt ceiling and cut spending. Boehner spoke with Republicans on a conference call, earlier this evening, to share the details of the deal with his caucus. Here are excerpts from that call:Read more
Reuters: "Growth anemic, debt row poses recession risk"
ABC News: "Boehner gets standing ovation from Senate Rs"
Department of the Treasury: "Treasury Targets Key Al-Qa’ida Funding and Support Network Using Iran as a Critical Transit Point"Read more
The Hill reports that the Congressional Budget Office has scored the Boehner debt ceiling plan as reducing the deficit more than Harry Reid's plan -- and that's without resorting to gimmickry regarding assumptions about war spending:Read more
Last night, Speaker Boehner toyed with adding a gimmicky balanced budget amendment provision to the Republican budget bill in order to try to get the final handful of votes he needs for passage. He thought better of this last night, and didn’t do so. He should continue to avoid pointless and embarrassing gimmicks to try to secure a last-gasp victory on the House floor.Read more
Indiana congressman Mike Pence, a stalwart conservative and former chairman of the Republican Study Committee, announced today that he will vote for the Boehner bill. Pence is joined by freshman Hoosier Marlin Stutzman, who thanked the Tea Party for pushing the country to cut more.
Here are Stutzman's remarks delivered on the House floor:
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