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Monday, August 1, 2011

Important Details About Debt Ceiling

– What the accord entails: "A lot of the liberal left, all the liberal organizations, are saying the super committee is going to make Medicare cuts. Nobody's happy. Both the conservative right and the liberal left are very, very unhappy."
– Deadline: Midnight tonight or tomorrow? "Well, that's the big question," King said. "If the Senate holds its vote over, does the administration say, 'OK, you're going to do it sometime during the day tomorrow, we can work it for a couple of hours.' Remember, the president did say he would accept a short-term extension, short-term increase in the debt limit if they had the big framework." If legislators need an extra "24, 48 hours, they could resort to that," he said.
– How legislators feel about the deal: "Essentially the Democrats are saying 'Let's see how many Republicans go forward.' The Democrats are saying, 'Let's let John Boehner deal with his family feud before the Democrats,' " King said.  "The Democrats are saying the president sat down at these negotiations and started by giving things away before the game had even started. Democrats are not happy about that," King said.

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