House GOP agrees to debt ceiling deal - NY Daily News
www.nydailynews.com/.../house-gop-oks-deal-debt-ceiling-article-1.
2 hours ago – WASHINGTON — House Republicans Friday backed off threats to force a government default if Democrats did not approve deep spending cuts ...House GOP agrees to debt ceiling deal
Republicans have agreed to extend the government's borrowing authority for three months. The GOP also demands “no budget, no pay” idea for chambers who fail to pass a budget this year.
Comments (3)By Dan Friedman / NEW YORK DAILY NEWS
Friday, January 18, 2013, 11:55 PM
Mark Wilson/Getty Images
House Speaker John Boehner (R-OH) (l.) and House Majority Leader Eric Cantor have backed off on demands for cuts — for now.
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WASHINGTON — House Republicans Friday backed off threats to force a
government default if Democrats did not approve deep spending cuts next
month — handing President Obama another victory over conservatives in Congress.
The Republicans said they would agree to extend the government’s borrowing authority for three more months, when the existing borrowing limit is reached next month.
House Republican leaders like House Speaker John Boehner (R-Ohio) had been demanding spending reductions in exchange for letting the government borrow more money.
But the President said that was unacceptable — setting up the possibility of a deadlock that would have left the government unable to pay its bills, shaking financial markets and cratering the economy.
Friday’s announcement buys both sides more time to resolve their
differences — and signals a softening of the Republican hard line.
Obama and Senate Democrats welcomed the announcement as a Republican retreat.
NRA SAYS CONGRESS WILL NOT PASS WEAPONS BAN
“We are encouraged that there are signs that Congressional Republicans may back off their insistence on holding our economy hostage to extract drastic cuts in Medicare, education and programs middle class families depend on,” White House Press Secretary Jay Carney said.
“Congress must pay its bills and pass a clean debt limit increase without further delay. And as he has said, the President remains committed to further reducing the deficit in a balanced way.”
It was the second time in less than a month that Obama has prevailed over Republicans.
REP. PETE KING CALLS ANTI-HURRICANE SANDY POLITICIANS DISGRACEFUL
Three weeks ago, the GOP reluctantly agreed to raise taxes on high earners in exchange for extending tax cuts for the middle class.
This time, House Republicans faced rising pressure from business groups to avoid a confrontation that would harm the economy.
But the Republicans still made a demand, one aimed at prodding Senate Democrats to pass a budget after almost four years of failing to do so: a threat to cut off the pay of lawmakers in either House or Senate if their chamber fails to pass a budget this year.
GOP RETREAT AT FORMER SLAVE PLANTATION FOCUSES ON MINORITY OUTREACH
“We are going to pursue strategies that will obligate the Senate to finally join the House in confronting the government's spending problem,” Boehner said in a speech to House Republicans at a retreat in Williamsburg, Va.
The “no budget, no pay” idea is backed by No Labels, a group started about two years ago by both Democrats and Republicans in hopes of easing the partisanship and gridlock that has engulfed Washington
dfriedman@nydailynews.com
end quote from:
The Republicans said they would agree to extend the government’s borrowing authority for three more months, when the existing borrowing limit is reached next month.
House Republican leaders like House Speaker John Boehner (R-Ohio) had been demanding spending reductions in exchange for letting the government borrow more money.
But the President said that was unacceptable — setting up the possibility of a deadlock that would have left the government unable to pay its bills, shaking financial markets and cratering the economy.
Win McNamee/Getty Images
House Majority Leader Eric Cantor (R-VA) (C) arrives for a Republican conference meeting at the U.S. Capitol on Jan. 4, 2013 in Washington, DC.
Obama and Senate Democrats welcomed the announcement as a Republican retreat.
NRA SAYS CONGRESS WILL NOT PASS WEAPONS BAN
“We are encouraged that there are signs that Congressional Republicans may back off their insistence on holding our economy hostage to extract drastic cuts in Medicare, education and programs middle class families depend on,” White House Press Secretary Jay Carney said.
“Congress must pay its bills and pass a clean debt limit increase without further delay. And as he has said, the President remains committed to further reducing the deficit in a balanced way.”
It was the second time in less than a month that Obama has prevailed over Republicans.
REP. PETE KING CALLS ANTI-HURRICANE SANDY POLITICIANS DISGRACEFUL
Three weeks ago, the GOP reluctantly agreed to raise taxes on high earners in exchange for extending tax cuts for the middle class.
This time, House Republicans faced rising pressure from business groups to avoid a confrontation that would harm the economy.
But the Republicans still made a demand, one aimed at prodding Senate Democrats to pass a budget after almost four years of failing to do so: a threat to cut off the pay of lawmakers in either House or Senate if their chamber fails to pass a budget this year.
GOP RETREAT AT FORMER SLAVE PLANTATION FOCUSES ON MINORITY OUTREACH
“We are going to pursue strategies that will obligate the Senate to finally join the House in confronting the government's spending problem,” Boehner said in a speech to House Republicans at a retreat in Williamsburg, Va.
The “no budget, no pay” idea is backed by No Labels, a group started about two years ago by both Democrats and Republicans in hopes of easing the partisanship and gridlock that has engulfed Washington
dfriedman@nydailynews.com
end quote from:
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