Monday, July 4, 2011

Is there a ‘Mini’ Debt-Ceiling Deal in the works?

Click on Graph to enlarge.
Republicans would accept a “mini” deal with the Obama administration on raising the debt limit, Senator John Cornyn of Texas, a Republican leader, said.

Cornyn said today on “Fox News Sunday” that while Republicans would prefer a long-term settlement, they would accept a shorter-term agreement if that’s all they could get done. The U.S. Treasury Department has projected that on Aug. 2 the U.S. will no longer be able to meet obligations if the legal debt ceiling isn’t raised.

“The problem with a mini-deal is we have a maxi problem,” said Cornyn, who is in charge of the 2012 Republican Senate campaign strategy. “We’ll take the savings we can get now, and we will re-litigate this as we get closer to the election.”
The full story is HERE.

The mini-deal idea is discussed around the 5:30 minute mark:

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Bob said...

They will need to do something even if it only amounts to putting a finger in the hole in the dike.

Our next President will really need to take drastc steps and make drastic cuts.

Amarant said...

Why can't there be common ground between Obama and the republicans? These petty quarrels aren't helping diminish the enormous U.S. debts.

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