Agreement on Boehner bill

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POSTED: Friday, July 29, 2011 - 6:52pm

UPDATED: Friday, July 29, 2011 - 10:56pm

As the drama of the debt ceiling debate goes down to the wire, the House of Representatives is ready to vote on Speaker Boehner’s deficit reduction bill.
Our local Congressmen were on different sides on the bill, so where are they now?
Roger Gray joins us in the news update center with the story.
Congressmen Louie Gohmert and Jeb Hensarling have been in opposing camps on the so-called Boehner bill.
But the Congress is basically out of time, so how did they actually vote?
It may seem like an exercise in futility, but the House has passed a Republican deficit reduction plan that the Senate has already said no to.
And the Senate is ready to vote on a Democratic plan that the House rejects out of hand.
But even among Republicans, there has been dissension, primarily over the size of the deficit reduction which is less than a trillion dollars over 10 years.
But it does include a requirement for a balanced budget amendment to the Constitution.
Congressman Jeb Hensarling is on the leadership team and has had the job of rounding up votes.
Congressman Louie Gohmert feels the plan is too timid and doesn’t lower spending enough, but Hensarling says it’s the best they’ll do for now.
And Gohmert finally voted for the bill.
“I haven’t spoken to Louie this afternoon. But however he casts his vote, I’m sure he‘ll cast it for the right reasons,”Hensarling told KETK.
“Yes, I’ve talked to Jeb. Jeb has supported it from the beginning. I know Jeb, and I know him pretty well.l And with his conservative beliefs, I’m sure he’s really had to hold his nose to support it. But he’s part of Boehner’s leadership team, and he’s being a team player for the speaker. I know this has been tough for Jeb, but yes, he and I have been on opposite sides of this issue up through yesterday,” Gohmert said.
But the Senate, as we mentioned, considers the bill dead on arrival, particularly with the inclusion of the balanced budget amendment.
But their alternative has yet to appear.
 

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There goes Louie selling his TEA party constituents down the river when it was he himself that scoffed at the August 2nd deadline. No four trillion spending cut, another republican broken contract with America, more fear from Geitner at the Treasury as Bernanke at the federal reserve prints dollars like so many rolls toilette paper. What about our savings Louie, when are the resposible in this country considered. It would serve us best to send a new representative who remembers his constituents.

The worst, I repeat, the worst effect to our economy if the debt ceiling is not raised as stated by the President and other's in the Treasury and on Wall Street is a down-grade in credit rating resulting in an increase in interest rates. At present the prime interest rate is less than 4%. Saved monies earn less than 1%. If you save and don't buy on credit then a rise in interest is beneficial as it keeps the dollars value in pace with inflation. In 1976 interest rates were 18% and we survived.

Our nation has embarked on a road of coddling the irresponsible at the expense of those who have prudently followed the rules. If you bought more house than you could afford it's not fair for the government to bail you out at my expense. If you run credit card debt, it's not my obligation to make your payments, but that is exactly what this debt battle is all about; whether the government prints money and destroy my savings or whether you live within your means confined to a budget like me.

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