Signs Of Hope In The Debt Ceiling Debate?

Senate Minority Leader Mitch McConnell and House Speaker John Boehner just concluded a press conference that seems to offer some hope that a deal can be reached to raise the debt ceiling:

Top Republicans in the House and Senate say they have spoken with the White House Saturday and are “fully engaged” in trying to reach a compromise on the debt ceiling.

“It should be clear … that Senator McConnell and I believe that we are going to be able to come to some sort of agreement,” said House Speaker John Boehner Saturday afternoon.

Boehner and Senate Minority Leader Mitch McConnell said they had spoken with the White House Saturday afternoon.

“We are now fully engaged” with the White House, McConnell said, insisting that the country will not head into potential default.

Senate Majority Leader Harry Reid and House Minority Leader Nancy Pelosi are also headed to the White House Saturday to strategize on the debt ceiling, after it became clear that Reid’s plan is several votes shy of overcoming a Republican filibuster in the Senate and after the measure went down in defeat in the House.

According to reports on Twitter, Boehner and Obama spoke shortly after last night’s House vote and the talks have continued since then with McConnell’s involvement. There’s no word about the details of the negotiations, of course, but it would seem that this is the last chance we’ll have to get a deal before the August 2nd deadline. Due to the nature of the legislative calendars in the  House and Senate, in fact, it’s pretty clear that there will have to be some kind of deal by midnight tonight in order for both Chambers to vote on a measure before August 2nd.

One might wonder why it’s taking until the last minute for this to happen but, of course, that’s the way things always seem to work in Washington.

FILED UNDER: Barack Obama, Congress, Deficit and Debt, Politicians, Quick Takes, US Politics, ,
Doug Mataconis
About Doug Mataconis
Doug holds a B.A. in Political Science from Rutgers University and J.D. from George Mason University School of Law. He joined the staff of OTB in May 2010 and contributed a staggering 16,483 posts before his retirement in January 2020.

Comments

  1. Racehorse says:

    Here is my idea to eliminate the deficit:
    Scrap the current tax code. Everyone over 18 would pay 3% tax on any income: middle class, rich, wealthy, young, and old.. This would also include ss, welfare, etc. No deductions except for charity, and dependents. Illegal immigrants would also have to pay (if they aren’t currently in the system). No loop holes for anyone with an income. This would bring millions more people into the income tax rolls. The income tax load for each payer is reduced by increasing the tax base by several million people. By my calculations, the country would be running a surplus in 3 years.
    Now who can argue with that? Everyone that I have talked to would jump for this plan.

  2. michael reynolds says:

    It sounds as if the mainline GOP’s corporate overlords have cracked their whip.

    Can the corporate asshats overcome resistance from the Tea Party loons? It’s a Republican classic: Greedy vs. Crazy.

    The party of Lincoln.

  3. @Racehorse:

    By my calculations, the country would be running a surplus in 3 years.

    I think I see the problem here.

  4. @michael reynolds:

    It sounds as if the mainline GOP’s corporate overlords have cracked their whip.

    So non-teaparty republicans try to get Republicans to support a new compromise offer from the President, and that makes them corporate asshats? Will any Democrats supporting the President’s new proposal be corporate asshats too, or just Republicans?

  5. ratufa says:

    @Racehorse:

    By my calculations, the country would be running a surplus in 3 years.

    Please show your calculations. I don’t think the numbers are favorable to your plan.

  6. michael reynolds says:

    @Stormy Dragon:
    No, what makes them corporate asshats is that as of yesterday McConnell was publicly refusing to even talk. And now, suddenly, he’s talking. Suddenly he is “fully engaged” with the WH. Suddenly he wants us all to know they’ll find a way forward, everyone stay calm.

    Since McConnell is a creature entirely devoid of any principle other than partisanship, someone gave him a sharp shove toward reasonableness. Obviously it wasn’t the Tea Party, whose butts he’s been kissing all through this asinine Republican fiasco. Someone cracked the whip on Mitch.

    What happened in the interim? Bad week on the stock market, that’s what. The money boys speak and suddenly McConnell is fully engaged.

    Like I said: Greedy vs. Crazy.

  7. So how exactly does pushing McConnell towards reasonableness make them “corporate asshats”?

  8. Brittanicus says:

    THINK?

    Either party, Democrat, Republican are completely ignorant or just intentionally remain unconcerned about the massive expenditures for pandering to the illegal alien invasion. The federal debt ceiling and all 50 States have huge deficits from the illegal immigration occupation. Schools, health care and programs that is reducing America to a pauper nation. You as the American people must start yelling at the politicians in Washington, to demand they recognize that this issue is part of the discretionary spending. Only Rep. Michele Bachmann R-MN) Leader of the Tea Party Caucus, dares to speaks out about this issue, with a conviction that this is part of our national issues. The TEA PARTY membership can now be counted in the tens of million of ordinary citizens, who are black , Hispanic, White and other races. Bombard Congress with you voices, tell them no Amnesty, No Immigration Reform, no Sanctuary cities or States and No Dream Acts.

    REMOVE ILLEGAL ALIENS AND THAT WILL CONSERVE TAXPAYER MONEY, AND MOVE US ON TOWARDS A BALANCED US TREASURY BUDGET AND THAT INCLUDES ALL 50 STATES WILL ARE SUFFERING AS WELL.

    This needs to be repeated that When (Fair) analyzed the cost of illegal immigration and its nationwide deficit, they came up with a stunning figure of $113 billion dollars annually, while illegal alien revenue to the government coffers was a total amount of $13Billion dollars and change. Not included in these illegal foreign labors is wages leaving the country to foreign nations, estimated to be 46 Billion dollars? Our economy is sinking and the Obama administration is insisting on passage of another Amnesty failure. Heritage Foundation has stated that cost for processing another Amnesty expenditure is another 2.5 Trillion dollars.

    Break down of revenue to support illegal migrants and illegal immigrants.
    Federal Expenditures on Illegal Aliens

    Education Title 1 program $1,332,900,000
    Migrant education program $236,900,000
    Title 111 program $538,000,000

    Education Subtotal $2,107,800,000

    Medical Emergency medical care $250,000,000
    Fraudulent use of Medicaid $1,235,000,000
    Medicaid cost of childbirth $1,238,100,000
    Medicaid for children $1,626,800,000
    other medical outlays $1,600,000,000

    Medical Subtotal $5,949,900,000

    Law enforcement Scaap compensation $330,000,000
    Federal incarceration $678,400,000
    Byrne grants $24,300,000
    Detention and removal $2,545,000,000
    Project safe neighborhoods $39,500,000
    Residual ice functions $2,824,000,000
    Exec. Office of immigration review $222,500,000
    Southwest border prosecution $33,000,000
    National Guard $642,000,000
    Coast Guard $500,000,000

    Law Enforcement Subtotal $7,838,700,000

    Public assistance Free and reduced meal program $2,264,600,000
    Temporary assist. Needy families $1,030,000,000
    Housing assistance programs $637,000,000
    Child care & development fund $633,000,000
    Public Assistance Subtotal $4,564,600,000

    General expenditures $8,184,400,000

    TOTAL EXPENDITURE FOR US GOVERNMENT $28B, 645,400,000

    State/Local Expenditures on Illegal Aliens ($ M)

    Alabama $298 Illinois $4B,592 Montana $32 Rhode Island $278
    Alaska $139 Indiana $608 Nebraska $262 S. Carolina $391
    Arizona $2B,569 Iowa $350 Nevada $1B,191 S. Dakota $33
    Arkansas $244 Kansas $442 New Hampshire $123 Tennessee $547
    California $21B,756 Kentucky $280 New Jersey $3B,478 Texas $8B,878
    Colorado $1B,451 Louisiana $224 New Mexico $608 Utah $453
    Connecticut $957 Maine $41 New York $9B,479 Vermont $38
    Wash D.C. $312 Maryland $1B,724 N. Carolina $2B,063 Virginia $1B,905
    Delaware $305 Massachusetts. $1B, 862 N. Dakota $32
    Washington State $1B, 510; Florida $5B,463 Michigan $929,
    Ohio $563 W. Virginia. $31; Georgia $2B; 399 Minnesota,
    $744 Oklahoma $465 Wisconsin $883.Hawaii $155 Mississippi.
    $106 Oregon $705 Wyoming $51, Idaho $188 Missouri $338,
    Penn. $1B,378

    TOTAL STATE AND MUNICIPAL $83B,851

    REVENUE INTO FEDERAL AND STATE TREASURIES FROM ILLEGAL ALIENS

    Category federal State/local

    Income -$2,302,800,000 $244,200,000
    Social security $7,000,000,000
    Medicare tax $1,637,100,000
    Excise and miscellaneous $2,489,700,000
    Employer (FUTA & income) $632,600,000
    Property tax $1,378,000,000
    Sales tax $2,333,000,000

    TOTAL FEDERAL,STATE, LOCAL GOVERNMENT FROM ILLEGAL IMMIGRANTS $ 13B, 235.000.000

    NOW CALCULATE THIS! TAKE $13.235.000.000 FROM $113.296.000.000 = ( $110.061.400.000 )

    IN TAXES AMERICANS SUPPORT ILLEGAL ALIENS ANNUALLY $110.061.400.000

    If you as a taxpayer wants to keep paying financial support for 20 million illegal aliens outlaws, then you deserve higher taxes and loss of jobs. Read the projections of future years if our borders remain unsecured, or no tracking system for 40 percent of visa over stays, who disappear and all take American workers jobs. Go to the Heritage Foundation website, NumbersUSA or Judicial Watch and read for the dollar figures that will turn your stomach sour. This is a patriotic chance to help your fellow jobless countryman by Calling House and Senate Leadership NOW Call the Capitol Switchboard at 202-224-3121

    COPY THIS INFORMATION AND DISTRIBUTE TO FAMILY AND FRIENDS.

  9. @Brittanicus:

    ROMANI ITE DOMUM!

  10. michael reynolds says:

    @Stormy Dragon:
    I was referring to the pols, not the corporations.

  11. Ron Beasley says:

    Noli nothis permittere te terere.

  12. A voice from another precinct says:

    @Brittanicus: Thank you for explaining why gutting the safety net will not fix the problem. Cutting Medicare and Medicaid, education, and the prison system (which I DON’T consider part of the social “safety net”) you managed to corral 20% of the savings that Boehner is getting (and which Moody’s says are inadequate to address the deficit question). I’ve been hoping that someone would do that.