Fallback plan gains momentum in debt talks

Source: Reuters

With time running short in U.S. debt talks, Republican and Democratic senators sought on Sunday to craft a plan that could avert an unprecedented government default while making modest cuts in the deficit.

(snip)

Behind the scenes, Senate Republican leader Mitch McConnell and Senate Democratic leader Harry Reid were negotiating over a fallback plan proposed by McConnell that would allow Obama to raise the debt limit while sparing Republicans from having to vote in favor of it.

Senior Democratic aides said the Senate will likely begin considering the compromise measure this week. They predicted the Democratic-led Senate would pass the legislation, but winning over the Republican-led House of Representatives would pose a bigger challenge.

"Barring a breakthrough, this is going to be the plan," one congressional aide said. "We are working under the assumption that there won't be a (deficit) plan."

Read more: http://www.reuters.com/article/2011/07/18/us-usa-debt-idUSTRE7646S620110718

these 535 people can not get the job done
Why are we paying them??

testicle to share between them. "sparing Republicans from having to vote in favor of it."

Let the Republicans go home. That's the best idea I've heard all year.

They haven't done anything worthwhile for 20? 30? years???

I guess this is some kind of ploy so they can blame it all on Obama. Fine. They're gonna do that anyway.

And if the House can't get it done everybody can blame that on them.

by the Dems giving the Repukes everything they ask for and more

understands what happens in a Balanced Budget Ammendment when expenses go over the specified per cent of GDP. Based on the posts here, I'm not sure many do. Myself, I believe this is all an orchestrated trick that all parties formulated.