Posted by
Billy on Thursday, July 28, 2011 11:27:27 AM
A bill to cut the deficit faced a nail-bitingly close vote in Congress on
Thursday as the top Republican lawmaker sought to quell an internal revolt and
push his plan to avoid a ruinous default.
Approval of a plan by House of Representatives Speaker John Boehner would
break the inertia in Washington over a debt crisis that has spooked markets and raised the
prospect that the government of the world's largest economy will run out of
money to pay its bills in less than a week.
President Barack Obama has threatened to veto the bill and a majority of the
Democratic-controlled Senate has vowed to vote against it.
But a successful vote in the House would give the bill legitimacy and make it
a crucial element of the legislative chess game that is likely to play out up to
August 2. (CLOSE
VOTE)
(Billy's Thoughts>>> I have mixed feelings on this plan but the one thing which is helping me to support it is Obama has said he doesn't like it and might veto it. Those of you who are part of the Tea Party don't forget we have to take what we can get. We also need to keep our eyes on the big prize. If this plan is defeated it might help Obama gain support which we mean all the gains made in the last election would be for nothing. So I say lets support this. )