Harry Reid Tentatively Signs Off On Debt Ceiling Deal

WASHINGTON -- Senate Majority Leader Harry Reid (D-Nev.) has tentatively signed off on a deal to raise the nation's debt ceiling, which has been primarily negotiated between his Republican counterpart, Senate Minority Leader Mitch McConnell (R-Ky.), and President Barack Obama.

"Senator Reid has signed off on the debt-ceiling agreement pending caucus approval," Reid's spokesman, Adam Jentleson, said in a statement on Sunday afternoon.

In coming out in favor of the deal, Reid paves the way for its passage in the Senate. There are likely to be members of both parties who will end up opposing the measure, which would cut $1 trillion in spending over the course of ten years before giving way to a super committee of lawmakers to find $1.8 trillion in additional cuts. But that chamber seems like less of a steep hurdle for passage.

The real question mark is the House of Representatives. On Sunday, Democratic aides suggested that House Minority Leader Nancy Pelosi (D-Calif.) was inching towards formally supporting the deal. But no formal word has been issued from her office. Her caucus, which is compromised of more progressives than the Senate, presents a far tougher sell than Reid's.

Even without Pelosi's support, the real question remains whether House Speaker John Boehner (R-Ohio) will end up backing the measure. Members of his conference have raised concerns that the enforcement mechanism to ensure that the committee's recommendations are passed into law leans too heavily on cuts to the defense department's budget. Democrats have countered that the triggers are disproportionately weighted against their interests, as they include no revenue raisers and involve steep cuts to domestic spending and Medicare suppliers.

Boehner is expected to hold a conference call with his members on Sunday. A request for comment from his office was not returned.

Comments

[dan laurie]

08:42 PM on 08/06/2011

As much as we are dissapointed with Obama we would also never vote republican

[dan laurie]

08:46 AM on 08/06/2011

The only things that make sense at this pt is the unknown.We are now in unknown territory. We can easily see that the vast separation from the Very wealthy to the middle class has allowed a
dangerous gulf which can be defined class war. I prefer to see it as class massacre...IT seems that the movement is now almost biblical.Armegeddon and Revelations and the living will envy the dead.The laws of Greed and dominanace is leading to a world that is destroying itself.The aim is no longer growth by borrowing and spending but contraction and self immolation.The main point of these Uber wealthy is there are way to many of us and the return to the mass murder of 1940 Germany...But the undesirables is no longer just the gypsys and the Jews its everyone but the ruling class.

[John Kopczak]

01:01 PM on 08/01/2011

AS SO MANY BEFORE ME, WHY DO WE ALLOW THESE "POLITICAL GOONS" TO KEEP DRAWING A PAY CHECK? THEY HAVE HAD MONTHS TO OVER COME THESE DIFFERENCES AND RESOLVE THESE LONG RANGE PROBLEMS...IN THE "REAL WORLD" IF YOU OR I WERE THIS INCOMPENTENT WE'D HAVE BEEN FIRED MONTHS, IF NOT YEARS AGO...HOW ABOUT AN AMENDMENT TO THE CONSTITUTION THAT "Demands" ouster for all parties when these delays become so obvious more than once is a session?

[hclh03sun]

12:03 PM on 08/01/2011

They never should have agreed to a deal. Instead President Obama should have invoked the 14th ammenmnet with makes the debt ceiling illegal, There is no law that appoves it. This would have showen all the Presidents opponents that he means business. But no, he did nothing. I am most disappointed in President Obama. I thought after 8 years of the stupid President Bush, now we would get some things done. But Obama is a milk toast and will not anger anyone. The hell with trying to get along with the parties. Be like FDR and TELL congress what to do not meekly ask them if they would do something, grow a back bone President Gumby.

[angalmarketing2]

11:03 AM on 08/01/2011

Sayyy, Harry; PLEASE, PLEASE RESIGN or better yet have rational Nevadans recall him.

[den1953]

10:54 AM on 08/01/2011

The largest hurdle is Washington can't get out of it's own way everyone has to find out how to insert there own brand on the bill, some how it wouldn't surprise any American if the bill ends up 6,000 pages of special interest benefits!

[Djay0252]

09:44 AM on 08/01/2011

We need to cut foreign spending BIG TIME to ensure that our Children have an education and America has a future. I don't believe that knowing the size of a gay man's penis is going to ensure America's future. Let The Boehner fund that out of his own pocket.

[scoobydoo52476]

08:54 AM on 08/01/2011

time to retire harry reid. he's been in the white house way to long, we need some young blood with new ideas.

[Jan Baulsir]

08:54 AM on 08/01/2011

Deepest respect and gratitude to Reid and Pelosi and all those who persevere for the people.

[TheBluesGuy]

04:22 PM on 08/01/2011

I had much more respect for Mr. Reid when web could differentiate his legislation from that proposed by the Republicans.

[edithbunker]

06:55 PM on 08/01/2011

LOL. Thanks for the laugh.

[jobscabin]

08:28 AM on 08/01/2011

When you hear the pundits say: 'President Obama has decided if he can't beat them he will join them', they are referring to Obama's decision to select his own Wall Street plan for the future. Instead of the boom/bust business cycles of the past 30 years and Democratic congresses trying to regulate in the interests of workers and the environment, Obama is structuring his own attempt at creating a business cycle. All we can do (until Nov 2012), is hope that the President is getting good advice from someone and that there will finally be JOBS to come out of the kerfuffle. My hope is diminished but not deceased.

[bealebkk]

08:28 AM on 08/01/2011

'Hello, I Must Be Going'
Boogity, Boogity, Boogity and yahda yahda yahda

[den1953]

08:23 AM on 08/01/2011

Americans all around the country can see how the Supreme Court operates so now this nation wants to complicate more Washington politics by elevating 12 law makers as policy makers, another high court of special interest pay to play law maker panel that holds tax payers in there power. This is a terrible idea and goes against why this nation was founded on, what ever happened to we the people and majority rules. This is not common ground this is who can be more influenced by out side interest or bought off if this is part of the bargain this should be voted down by both parties!

[Mechelle Gray]

08:22 AM on 08/01/2011

"It ain't OVER, till it's over"

Still has to be voted on, right? ** sigh *

[SangZe]

08:20 AM on 08/01/2011

Reid has rendered the democrats irrelevant.

[jdwlor]

08:00 AM on 08/01/2011

They can cut one billion a year by parking a few jets what a sham.I can not see how giving in to the rightwing teabaggers is going to solve our problems. If the president lets this get past his desk,he better hope he has someone else to vote in my place.