Budget debate on two tracks as deadline nears
The budget debate lurched along two parallel tracks Friday, with President Barack Obama continuing his push for a large deficit-reduction deal and Congress scheduling a series of test votes next week on alternative approaches.
Obama hosted his second press conference of the week, saying Congress needs to show voters that “we are serious” about tackling the debt and deficit, and that negotiators still have “a unique opportunity to do something big.”
Continue Reading
Using the presidential bully pulpit and polling data, Obama urged lawmakers to stay focused on cutting the deficit by $4 trillion over 10 years, even as Republicans and Democrats on Capitol Hill move closer to voting on competing proposals to raise the debt limit by August 2.
“I think it’s important for the American people that everybody in this town set politics aside, that everybody in this town sets our individual interests aside, and we try to do some tough stuff,” Obama said from the podium in the White House Briefing Room.
“We are obviously running out of time,” Obama said, adding that he’s asked congressional leaders to deliver him plans in the next 24 to 36 hours that would offer a framework for reaching an agreement.
But on Capitol Hill, Republicans were heading in a different direction — at least for the time being.
They announced House and Senate votes next week on a popular conservative plan to cut spending, balance the budget and put a cap on overall federal spending, the latest GOP attempt to lay down their marker in the debt ceiling debate. The bill stipulates that the debt ceiling can be raised only when a balanced budget amendment clears both chambers.
“While I had high hopes that the administration would be able to work with us to reduce our deficit, Democrats’ dedication to massive tax hikes, coupled with a reluctance to cut Washington spending in any meaningful way and preserve entitlements for future generations, prevented a significant achievement at a time when our jobs crisis and national debt require real action,” Senate Minority Leader Mitch McConnell (R-Ky.) said in a statement. “So now the debate will move from a room in the White House to the House and Senate floors.”
The decision to move on the GOP’s “Cut, Cap and Balance” plan won praise from rank-and-file conservatives, but it’s not the breakthrough deal that will solve the debt ceiling crisis, and the proposal has little chance of passing the Democrat-controlled Senate.
Obama quickly rejected the centerpiece of the Republican plan, saying Washington doesn’t need to pass a balanced budget amendment to “do our job.”
The latest round of maneuvering suggests the budget standoff will last for at least another few days while the Senate and House work through the votes — an often necessary routine on Capitol Hill when closed-door talks reach an impasse.
No comments:
Post a Comment