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Monday, August 1, 2011

Rep. Gabrielle Giffords - The Debt Ceiling Bill

UPDATE: Senate Followers House, Passes Debt Ceiling Bill 74-26

I've been trying to find the words on what to post on the this debate on the Debt Ceiling Bill!

President Obama, Speaker of the House John Boehner, Senate Majority Leader Harry Reid, the "Tea Party" lead by Michele Bachmann. Those were the players in this political game with the future of ALL Americans sitting and again waiting in the balance for our elected officials to come up with a plan so we would not default on our debt.
But as always, politics and EVERYONE'S own political agenda got in the way as this time we had "THREE" sides to the issue. The Republicans, the Demorcrates and the "Tea Party" each, in my opinion, putting themselves first and not the American People's best interests.

But on Monday, the House overcame opposition from liberal Democrats and tea party conservatives for ideologically different reasons to pass the measure by a 269-161 vote.
The Senate will take up the measure on Tuesday, August 2, 2011 needing a "Super-Majority" of 60 votes!
See how YOUR House Representative voted on the Debt Ceiling Bill→

You can read below what was in the bill and what it means. Or Read the Entire Legislation Bill Here→

But to me this night will be remembered for the return to the house floor of Rep. Gabrielle Giffords. She, it was learned, insisted to be flown to Washington D.C. to be on the floor for this historic moment in history.

House Speaker John Boehner said he was "very surprised" to see Giffords, whom he met as she got off a Capitol elevator.
"It was nice to see her," said Boehner, who said he told Giffords, "Welcome back."

Rep. Nancy Pelosi said, "Her presence here in the chamber as well as her service throughout her entire service in Congress, brings honor to this chamber.
"We are privileged to call her a colleague," Pelosi added. "Some of us are very privileged to call her a friend."

She brought a Bi-Partisan reaction to the House floor as Democratic, Republicans and "Tea Party" members rose as one to a rousing ovation as she entered the room!
God Bless her continued recovery from the horrific, senseless, tragic events that unfolded on the morning of January 8, 2011 at around 10:10am in front of a safeway shopping store in Tucson, Arizona.
Photo By Tom Williams / Roll Call
To me, she represents the TRUE American spirit of never giving up under any cercumstances and showing to her collegues that it's NOT about them, it's about serving ALL the American people and getting the job done for the better of the country.


Details on the Debt Ceiling Bill Passed by the House:

 A debt ceiling increase of between $2.1 trillion and $2.4 trillion: The framework will raise the debt ceiling immediately by $400 billion, then by another $500 billion after September.
After deep cuts are enacted by the end of the year, it will be increased by another $1.2 trillion to $1.5 trillion.
All told, the increases should cover the Treasury's borrowing needs until 2013.
At least $2.1 trillion in spending cuts: The framework would immediately cap domestic and defense spending, resulting in cuts of $917 billion over 10 years.
The framework then calls for more deficit reduction -- between $1.2 trillion and $1.5 trillion worth -- to be determined by the end of this year and imposed over 10 years. (Video: Shocker! A real Senate debate)
Bipartisan debt-reduction committee: That second round of deficit reduction would be proposed by a special bipartisan joint committee of Congress. The committee has until Thanksgiving to come up with its proposals and those proposals would be guaranteed by an up-or-down vote without amendment by Dec. 23.
If the committee proposes and the Congress approves between $1.2 trillion and $1.5 trillion in cuts, the debt ceiling will be increased dollar for dollar.
If the committee deadlocks or comes up with less than $1.2 trillion in cuts, or if Congress votes down the committee's proposals, the debt ceiling will be raised by $1.2 trillion.While it appears the committee will be free to consider entitlement and tax reform -- and dare we say it, tax hikes -- practically speaking it's more likely members would hit an impasse over these measures just as they have, oh, every other day this year.
Across-the-board cuts as trigger: If the committee deadlocks or fails to come up with at least $1.2 trillion in debt reduction, the sword of Damocles will fall on most forms of spending in the federal budget.
Specifically, as much as $1.2 trillion in across-the-board cuts would kick in -- evenly divided between defense and non-defense spending.
Exempt from this round of cuts, however, would be programs that aid low-income Americans, according to Democrats' fact sheets. These include Social Security, Medicaid, veterans' benefits and pensions, food stamps and Supplemental Security Income.
While Medicare would not be exempt, the framework would restrict cuts to no more than 2% of the program's cost. And the cuts that occur would not affect Medicare benefits nor would they increase seniors' costs, according to the White House fact sheet.
Required vote on balanced budget amendment: In theory, the across-the-board cuts could be avoided if instead both chambers of Congress pass a Balanced Budget amendment to the Constitution and send it to the states for ratification before the end of the year

See how YOUR House Reprentative voted on the Debt Ceiling Bill→