LWW
05-10-2011, 08:05 AM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">NEW YORK — Speaker John Boehner came here Monday to lend a peek to a worried Wall Street and a concerned Washington as to where he stands as the nation rapidly approaches its statutory debt ceiling.
What they heard was that he feels no urgency.
<span style='font-size: 11pt'>The Ohio Republican used a speech to the Economic Club of New York to unveil a staunchly conservative plan to offset a debt ceiling hike with spending cuts of a greater amount, putting House Republicans on a collision course with Democrats who want much more modest spending restrictions attached to the vote.
He also told a packed, well-dressed ballroom at the Hilton New York that the debt limit has no “hard date” — a sign he does not take seriously the Democrats’ dire warnings of default in a few months.</span> ...
<span style='font-size: 11pt'>“Without significant spending cuts and reforms to reduce our debt, there will be no debt limit increase,”</span> Boehner said. <span style='font-size: 14pt'>“And the cuts should be greater than the accompanying increase in debt authority the president is given. We should be talking about cuts of trillions, not just billions.”</span> ...
But by mentioning “trillions” in long-term cuts, <span style='font-size: 11pt'>Boehner is clearly putting entitlement reform in play — including Medicare — since it would be nearly impossible to cut trillions without affecting entitlement spending. He also said defense spending, the needs a “fundamental review” because the department “does not spend their 600-plus billion dollars every year as efficiently as you would spend your money or I would spend mine,”</span> Boehner told Peterson in the question-and-answer portion. ...
<span style='font-size: 17pt'>“To increase the debt limit without simultaneously addressing the drivers of our debt — in defiance of the will of our people — would be monumentally arrogant and massively irresponsible,”</span> Boehner said, brushing back on Democrats who are calling for a clean vote. <span style='font-size: 11pt'>“It would send a signal to investors and entrepreneurs everywhere that America still is not serious about dealing with our spending addiction. It would erode confidence in our economy and reduce certainty for small businesses. And this would destroy even more American jobs.”</span> ...
As Boehner makes his pitch on the debt limit, Vice President Joseph R. Biden is hosting deficit talks at the White House this month, but no one is truly sure if <span style='font-size: 11pt'>the panel is a sideshow</span> or the main stage for debt ceiling increase legislation. Boehner and Obama are widely expected to cut the final deal.
In a sign of fresh involvement, the White House announced Obama would meet with Senate Democrats and Senate Republicans this week, followed by House lawmakers in the coming weeks. </div></div>
FINALLY (http://www.politico.com/news/stories/0511/54604_Page3.html#ixzz1LxSH0xXw) some adult talk in DC.
What they heard was that he feels no urgency.
<span style='font-size: 11pt'>The Ohio Republican used a speech to the Economic Club of New York to unveil a staunchly conservative plan to offset a debt ceiling hike with spending cuts of a greater amount, putting House Republicans on a collision course with Democrats who want much more modest spending restrictions attached to the vote.
He also told a packed, well-dressed ballroom at the Hilton New York that the debt limit has no “hard date” — a sign he does not take seriously the Democrats’ dire warnings of default in a few months.</span> ...
<span style='font-size: 11pt'>“Without significant spending cuts and reforms to reduce our debt, there will be no debt limit increase,”</span> Boehner said. <span style='font-size: 14pt'>“And the cuts should be greater than the accompanying increase in debt authority the president is given. We should be talking about cuts of trillions, not just billions.”</span> ...
But by mentioning “trillions” in long-term cuts, <span style='font-size: 11pt'>Boehner is clearly putting entitlement reform in play — including Medicare — since it would be nearly impossible to cut trillions without affecting entitlement spending. He also said defense spending, the needs a “fundamental review” because the department “does not spend their 600-plus billion dollars every year as efficiently as you would spend your money or I would spend mine,”</span> Boehner told Peterson in the question-and-answer portion. ...
<span style='font-size: 17pt'>“To increase the debt limit without simultaneously addressing the drivers of our debt — in defiance of the will of our people — would be monumentally arrogant and massively irresponsible,”</span> Boehner said, brushing back on Democrats who are calling for a clean vote. <span style='font-size: 11pt'>“It would send a signal to investors and entrepreneurs everywhere that America still is not serious about dealing with our spending addiction. It would erode confidence in our economy and reduce certainty for small businesses. And this would destroy even more American jobs.”</span> ...
As Boehner makes his pitch on the debt limit, Vice President Joseph R. Biden is hosting deficit talks at the White House this month, but no one is truly sure if <span style='font-size: 11pt'>the panel is a sideshow</span> or the main stage for debt ceiling increase legislation. Boehner and Obama are widely expected to cut the final deal.
In a sign of fresh involvement, the White House announced Obama would meet with Senate Democrats and Senate Republicans this week, followed by House lawmakers in the coming weeks. </div></div>
FINALLY (http://www.politico.com/news/stories/0511/54604_Page3.html#ixzz1LxSH0xXw) some adult talk in DC.