Today Senate Minority Leader Mitch McConnell introduced a
back-up plan to avoid defaulting on the debt if the debt ceiling
negotiations fail. Fred Barnes at The Weekly Standard
has provided a good summary of the measure, which is
complicated:
To counter Obama, Senate Republican leader Mitch McConnell
unveiled legislation requiring the president to submit a series of
three requests - now, in the fall, and next summer - to increase
the debt ceiling.
Each request would have to include spending cuts in excess of
the amount of the increase in the limit on borrowing. If Congress
rejected the cuts as insufficient by passing a "resolution of
disapproval," the president could send a new package of cuts or
veto the resolution. Should his veto be sustained - at least 34
senators would be needed - the debt limit would rise with no cuts
attached.
The first request would be for $700 billion, and then the second
two would be $900 billion, with the last coming just months before
the 2012 elections. The idea is that the blame for raising the debt
ceiling would fall on Obama, and no tax cuts would be included.
Furthermore, Obama would have to put his plan for reducing spending
in writing -- something that would be politically costly for
him.
Barnes likes the idea; Philip Klein
thinks it is "a cynical attempt to manipulate
procedure in a way that tries to escape any sort of
responsibility." Rich Lowry
believes the ultimate effect of the bill would be to allow a
"cleanish increase" of the debt ceiling by $2 trillion -- exactly
what Obama wants. Jim argues
that the only difference between total Republican capitulation
and the McConnell plan is "gimmickry."
Perhaps McConnell truly believes that there might be no other
way to avoid default than this bill. As bargaining strategy,
though, it is flawed for two reasons.
The first is that it breaks up the Republicans' united front on
negotiating demands -- that the vote to increase the debt limit
include significant spending cuts and no tax hikes. McConnell's
introduction of this bill signals that Republicans aren't willing
to maintain that posture for long. The fact that it's just a
back-up plan makes no difference; if it's advantageous Obama will
simply aim for the back-up scenario. This strengthens Obama's hand
and makes it more likely that the final package will look more like
his ideal.
The second is that it's possible that McConnell may have
underestimated Obama's willingness to cut spending. By appearing
totally intransigent in their demands, Republicans gave Obama
cover to pursue deficit reduction measures that would
otherwise outrage his liberal base (even more than the
prospect of those measures does now). Although they have
consistently placed politics before fiscal security at every point,
Obama's economic team is aware of the need to reduce deficits, and
has increasingly signalled its willingness to take some of the
first steps in that direction. But, politically, Obama can only
afford meaningful spending reforms if he's able to tell his
supporters that the GOP left him with no choice. McConnell has
given him another choice, undermining that possiblity.
As I commented on this in the other thread, this is a total
surrender by the Republican Senate. Just as they were the first to
go crawling to Bill Clinton and the Democrats 15 years ago, in the
government shutdown of 1995.
Pecos Pete| 7.12.11 @ 6:43PM
What a crock full of BS. It seems clear now that the Republicans
are going to fold their hand. The debt ceiling will be increased
and their will be no reduction of federal spending.
Michael L. Hauschild| 7.12.11 @ 7:04PM
They folded, they will continue to fold, they shirk their
duties. They are not fooling anyone, we just look at them, see
their lips are moving, and know for a fact that they are lying.
c. j. acworth| 7.12.11 @ 7:19PM
I wonder, did McConnell talk to anyone before he floated this
balloon, or is it totally his idea and he decided on his own to let
it fly? If he did discuss this with the rest of the Republican
leadership, then it looks like they are ready to cave. If he's just
running his own mouth, then will somebody please shut him up?
Chuck| 7.12.11 @ 7:27PM
The Republican senate going back to 1980 has produced some real
loulou leaders, Baker, Dole, Lott, Frist, McConnell...all losers
and sellouts and now the moment of truth, the Republicans blinked
for the umpty-umpth time and with a Romney nomination on the
horizon, no more chances.
Bob K.| 7.12.11 @ 7:36PM
There is another Legislative Branch. And they run for reelection
every 2 years. Did he run this by them?
PCC| 7.12.11 @ 7:47PM
Obama has already outmaneuvered the GOP leaders. After never
producing a spending cut plan of his own, now he'll take credit for
signing the GOP cut plan while demonizing the mean old
Republicans.
LarryK| 7.12.11 @ 8:20PM
I repeat.
Once again Republicans are poised to snatch defeat out of the
jaws of victory.
Glein| 7.12.11 @ 10:42PM
The Republicans will cave as they always do. By doing so they
will assure Obama another term. They don't get it anymore than
Obama and the Democrats. They are the 21st Century Whigs. In the
19th century the Whigs refused to deal with the issue of slavery
and state's rights. The answer was a third party, the Republicans.
The Republicans than gave us Lincoln. If Boehner and McConnell were
around then we would all be singing Dixie!
Floyd Looney| 7.12.11 @ 10:55PM
Just when victory looked assured for the GOP, like they were in
a win-win situation the RINO's come out for abject surrender.
Maybe Mitch McConnell will call for saving money by canceling
the 2012 election and making Obama Dictator for Life.
Clint| 7.12.11 @ 11:28PM
We Tea Party Patriots Are Watching, As The RINO-CINO GOP Ruling
Elite Fops & Their Apologist Flunkies Attempt To Raise The Debt
Ceiling & ForceFeed Mittens Romney Down Our Throats.
Time To Purge The GOP Democrat Light RINO-CINO Agendists Or Walk
Away From This Faux Conservative Excuse For A Political Party.
The Tea Party Rebellion Escalates.
Rise Up In Rebellion.
Spicy Joker| 7.13.11 @ 12:09AM
Yet another sell-out by RINO Mitch McConartist.
Clint| 7.13.11 @ 7:37AM
" (Ron)Paul was the only GOP House member TPM found Tuesday
afternoon willing to take a firm stand against Senate Minority
Leader Mitch McConnell's (R-KY) plan to hand the White House full
authority to raise the debt ceiling with Congress only able to
disapprove with a two-thirds vote. Conservative groups, Tea Party
members outside Congress and activists are incensed over McConell's
fall back plan.
"I wouldn't like that," Paul told TPM. "Congress should assume
responsibility for itself" and figure out a way to cut
spending.
Paul also dismissed talk that McConnell's lead trial balloon has
undercut Republicans position in the debt talks.
"I don't think it has much effect," Paul said. "If it were
[Speaker John] Boehner, it would have been a different story
because we have the majority" in the House.
Michele Bachmann, a competitor for the GOP primary, declined to
comment on the plan.
yisong| 10.29.11 @ 2:45AM
Three Row Roller Bearings are constructed with three independent
rolls of rollers to handle a combination of axial, radial and
overturning moment loads. http://www.1stbearing.com
Siegfried X| 7.12.11 @ 6:33PM
As I commented on this in the other thread, this is a total surrender by the Republican Senate. Just as they were the first to go crawling to Bill Clinton and the Democrats 15 years ago, in the government shutdown of 1995.
Pecos Pete| 7.12.11 @ 6:43PM
What a crock full of BS. It seems clear now that the Republicans are going to fold their hand. The debt ceiling will be increased and their will be no reduction of federal spending.
Michael L. Hauschild| 7.12.11 @ 7:04PM
They folded, they will continue to fold, they shirk their duties. They are not fooling anyone, we just look at them, see their lips are moving, and know for a fact that they are lying.
c. j. acworth| 7.12.11 @ 7:19PM
I wonder, did McConnell talk to anyone before he floated this balloon, or is it totally his idea and he decided on his own to let it fly? If he did discuss this with the rest of the Republican leadership, then it looks like they are ready to cave. If he's just running his own mouth, then will somebody please shut him up?
Chuck| 7.12.11 @ 7:27PM
The Republican senate going back to 1980 has produced some real loulou leaders, Baker, Dole, Lott, Frist, McConnell...all losers and sellouts and now the moment of truth, the Republicans blinked for the umpty-umpth time and with a Romney nomination on the horizon, no more chances.
Bob K.| 7.12.11 @ 7:36PM
There is another Legislative Branch. And they run for reelection every 2 years. Did he run this by them?
PCC| 7.12.11 @ 7:47PM
Obama has already outmaneuvered the GOP leaders. After never producing a spending cut plan of his own, now he'll take credit for signing the GOP cut plan while demonizing the mean old Republicans.
LarryK| 7.12.11 @ 8:20PM
I repeat.
Once again Republicans are poised to snatch defeat out of the jaws of victory.
Glein| 7.12.11 @ 10:42PM
The Republicans will cave as they always do. By doing so they will assure Obama another term. They don't get it anymore than Obama and the Democrats. They are the 21st Century Whigs. In the 19th century the Whigs refused to deal with the issue of slavery and state's rights. The answer was a third party, the Republicans. The Republicans than gave us Lincoln. If Boehner and McConnell were around then we would all be singing Dixie!
Floyd Looney| 7.12.11 @ 10:55PM
Just when victory looked assured for the GOP, like they were in a win-win situation the RINO's come out for abject surrender.
Maybe Mitch McConnell will call for saving money by canceling the 2012 election and making Obama Dictator for Life.
Clint| 7.12.11 @ 11:28PM
We Tea Party Patriots Are Watching, As The RINO-CINO GOP Ruling Elite Fops & Their Apologist Flunkies Attempt To Raise The Debt Ceiling & ForceFeed Mittens Romney Down Our Throats.
Time To Purge The GOP Democrat Light RINO-CINO Agendists Or Walk Away From This Faux Conservative Excuse For A Political Party.
The Tea Party Rebellion Escalates.
Rise Up In Rebellion.
Spicy Joker| 7.13.11 @ 12:09AM
Yet another sell-out by RINO Mitch McConartist.
Clint| 7.13.11 @ 7:37AM
" (Ron)Paul was the only GOP House member TPM found Tuesday afternoon willing to take a firm stand against Senate Minority Leader Mitch McConnell's (R-KY) plan to hand the White House full authority to raise the debt ceiling with Congress only able to disapprove with a two-thirds vote. Conservative groups, Tea Party members outside Congress and activists are incensed over McConell's fall back plan.
"I wouldn't like that," Paul told TPM. "Congress should assume responsibility for itself" and figure out a way to cut spending.
Paul also dismissed talk that McConnell's lead trial balloon has undercut Republicans position in the debt talks.
"I don't think it has much effect," Paul said. "If it were [Speaker John] Boehner, it would have been a different story because we have the majority" in the House.
Michele Bachmann, a competitor for the GOP primary, declined to comment on the plan.
yisong| 10.29.11 @ 2:45AM
Three Row Roller Bearings are constructed with three independent rolls of rollers to handle a combination of axial, radial and overturning moment loads. http://www.1stbearing.com