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Obama Debt Plan

July 30, 2011 by USA Post 

Obama Debt PlanObama Debt Plan, Congress entered the final weekend before a U.S. threat defaults to a deadlock over legislation to raise the debt limit that President Barack Obama called on party leaders to reach an agreement.

The Senate yesterday rejected a plan by the Republican-controlled House passed hours earlier with no support from Democrats. That would have required congressional approval of a constitutional amendment to balance the budget and forcing a new vote from the debt-limit lawmakers six months to follow the authority of the nation beyond the loans in early 2012.

Congressional leaders “need to start working together immediately to reach an agreement to avoid the omission and the basis for balanced deficit reduction” said White House press secretary Jay Carney said in a statement after the two votes.

Senate Majority Harry Reid, Democrat of Nevada, offered amendments to a plan that Democrats said they are designed to attract support from Republicans, accused Republican leaders rejected efforts to negotiate.

Reid said that when he attempted to engage the Senate Republican leader, Mitch McConnell of Kentucky, in the talks, “we had no one to negotiate.”

After three days of taking a step back from public view, Obama re-entered the debate on the stalled negotiations on the debt ceiling to Friday, delivering on television, in the reception room at the White House diplomatic and sending advisers to launch a final offensive in areas ranging from the Capitol to Twitter.

Obama said that political leaders could still find a way to “get out of this mess. But we’re almost out of time.” During the six-minute address, Obama said the failure to find a compromise to raise the ceiling 14300000000000 debts and reduce the deficit by the close on Tuesday means that the country lacked a “triple-A political system to match our triple a credit rating.”

White House aides, including the budget director Jack Lew, and the Treasury secretary, Timothy Geithner, were deployed to meet with lawmakers on Capitol Hill, while the communications team president took the argument that media networks media. Obama’s official Twitter feed, which has 9.4 million followers, began publishing the Twitter account names of Republicans and supporters to his “tweet” feelings about the need for compromise.

“If you want to see a bipartisan compromise – a bill that can pass both houses of Congress and I can sign – that members of Congress know,” Obama said during his speech. “Make a phone call. Send e-mail. Tweet. Keep the pressure on Washington, and we can pass this.”

Since Obama is chairman of the House John Boehner negotiations collapsed last week, the president had begun to look sideways in the negotiations as Boehner (R) and Senate Majority Harry Reid (D) hashed out their own plans. But when Boehner delayed a vote on Thursday night in a move that would reduce and 1 billion through cost cuts and temporarily raise the debt ceiling, the White House saw an opportunity to re-enter the debate.

The stakes are high not only for the economy, but the president’s political fortunes ahead of his reelection campaign in 2012. New polling numbers suggest that voters were impressed with Obama’s performance during the debate on the debt ceiling – with his re-election advantage evaporates after a major matter of weeks.

A poll released this week by the Pew Research Center for the People & the Press found that only 41 percent of Obama voters want to see re-election next year, compared with 40 percent prefer a Republican. In May, Obama had a lead of 11 points, 48-37. Explanation: The number of independents who want an Obama victory fell from 42 percent in May to 31 percent today.

On Capitol Hill, Republicans have accused Obama of not presenting a detailed plan of their own; some Democrats have worried in silence that the president was not a strong enough presence in the negotiations. Lobbyists for several key liberal, said in an interview this week that left many activists are furious that the White House in their quest for independent voters, has been bought with such enthusiasm in a deficit-cutting program – weakening the position of White House negotiations.

A Democrat who faces reelection next year, the senator from West Virginia, Joe Manchin, had some hits on Obama during a combative Senate floor speech Thursday night in which he apologized to American families.

“I can only imagine the anger and disgust are witnesses of a party government and a president and members of Congress who do not seem to agree, sometimes even what day it is – let alone how to resolve the crisis the debt of our country, “Manchin said.

In a sharp critique that is making waves online, Ken Langone, Home Depot founder and former president of the New York Stock Exchange, told CNBC interviewer this week that Obama was being “little president” and “petulant.” He accused Obama of dividing the country with the rhetoric that the president has taken the corporate aircraft owners and managers of hedge funds, saying, “the destruction that is causing his behavior will continue long after you have set the limit debt. ”

White House aides say Obama has been fully involved this week, trying to convince lawmakers to agree. Valerie Jarrett, a senior Obama adviser told Reuters that the president has been “getting any sleep.”

“He worked tirelessly, meeting with his economic team, doing a lot of scope, exploring all sorts of possibilities for compromise,” he said.

White House spokesman Jay Carney, said Friday that Obama can only do as much as House Republicans continue to debate the bill Boehner.

“Because Congress must take action to resolve the problem … we have to wait for the process of playing before we can legitimately get focused on solving this problem,” said Carney. “We still have conversations while waiting for the house to finish this matter to them.”

The long-term political impact of Obama on many factors still unsolved – as what the final agreement looks like, how future debates on the way down to the duties and taxes, and if the economy begins to animate.

Democratic pollster David Beattie said Obama still enjoys many advantages over the Republican Party, in particular, given the unpopularity of lawmakers from both parties.

The debate on the budget “hurts Obama, but I think it hurts the Republicans worse,” said Beattie. “It’s easier to make Obama look better in the final because he’s standing on a Congress that has been seen as ineffective.”

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