Monday, July 25, 2011

Obama Backs Reid's Debt Ceiling Plan

In Boehner's press conference minutes ago, he said Reid's plan is "full of gimmicks." I honestly didn't think republicans would push this far. It's hard to tell now if the debt ceiling will be raised without Obama pulling a rabbit out of his hat.
President Obama on Monday endorsed Senate Majority Leader Harry Reid's debt-ceiling plan while blasting Speaker John Boehner's effort.

"Sen. Reid’s plan is a reasonable approach that should receive the support of both parties, and we hope the House Republicans will agree to this plan so that America can avoid defaulting on our obligations for the first time in our history," White House press secretary Jay Carney said in a statement. "The ball is in their court."
Reid's plan would cut $2.7 trillion in spending, including $1 trillion in savings from ending the wars in Afghanistan and Iraq. It would also raise the debt ceiling by $2.7 trillion, ensuring another hike would not be necessary in 2012. The Hill