Posted by: Schuyler R. Thorpe | July 29, 2011

Republicans Ready ‘Cut, Cap, Balance’ Bill; Obama Threatens Veto

(Looks like the GOP is going to have to try something else–besides their precious “balanced budget amendment” (which would never work in reality anyways)–and get SERIOUS about compromising and negotiating!

Come on you goons! THE CLOCK IS TICKING!)

WASHINGTON (AP) — The Obama administration says President Barack Obama would veto the “cut, cap and balance” plan proposed by tea party-backed House Republicans if it lands on his desk.

In a statement, the Office of Management and Budget says that setting arbitrary spending levels and a balanced budget amendment are not necessary in order to achieve financial stability.

The so-called “cut, cap and balance” plan is favored by some Republican freshmen in the House. It would allow the government to borrow an additional $2.4 trillion, but only after big and immediate spending cuts and adoption by Congress of a constitutional amendment requiring a balanced federal budget.

The plan is sure to stall in the Senate, where majority Democrats say it would lead to decimating budget cuts.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s


Gypsy Nerds

Gett'n our travel on!

Jen's Writers Blog

A place for the imagination!

Dreams of Dark Angels

The blog of fantasy writer Storm Constantine

Passion with a Dark and Dangerous Twist

A site for romance and thriller author, Cassandre Dayne

H.J. Bradley

The world of an aspiring indie author.

Q13 FOX News

Seattle and Western Washington's source for breaking news, weather, and sports. Home of Washington’s Most Wanted and the Seattle Seahawks.


Author Tim Baker shares his thoughts, hopes and dreams. (mostly his thoughts)

Kait Nolan

Smart, sassy, small town Southern romance that makes you feel like home

Guild Of Dreams

Build Your World and They Will Come

Trent Lewin

Fiction, and other made-up stories

Wildhorse33's Blog

freeing the creative spirit

Here's To Us

Nerdiness Encouraged

%d bloggers like this: