Congress will vote on the Boehner plan, the Reid plan will be "tweaked," and President Obama is on the sidelines.
Welcome to the Thursday debt ceiling live-blog.
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9:39am | Boehner: "It's a zippity doo dah day."
He appeared confident as GOP lawmakers began their caucus meeting. We should hear more when that finishes up in the next few minutes.
9:28am | An update on the timing of the Boehner vote:
Fox News' Chad Pergram: Expect debate to start after 2:30 today. Final vote between 6:30 and 7:30 pm ET.
9:26am | Boehner staff: Where is Obama's plan?
Boehner spokesman Kevin Smith tweets: Lot of talking from David Plouffe on MSNBC just now ... but says nothing about WH plan to deal with debt crisis ... #WhereIsTheirPlan?
9:20am | White House Senior Advisor David Plouffe to NBC News' Chuck Todd:
"Americans are sick and tired" of the GOP's "take it or leave it approach" to raising the debt limit.
He once again calls for raising the debt limit in one vote through the end of 2012. He says he expects a second stage of deficit reduction including entitlement and tax reform later this year.
He calls today's vote on the Boehner plan "political theater."
9:06am | Sen. Tom Coburn (R-OK) on Bloomberg:
"We will not run over on the debt ceiling," he said, adding he is confident a deal will be reached before August 2nd.
9:04am | House Republicans are gathering in the Capitol basement now for a final meeting before the vote on the Boehner plan today.
Republican leadership will use the opportunity to again push GOP freshman to back the bill. They will also do a final "whip count" to be sure they have the 217 votes needed to pass the bill in the House.
According to The Hill, 22 Republicans are likely to vote against the Boehner plan. Boehner can lose no more than 23 votes for hill proposal to pass.
8:49am | Warner is not optimistic for the deficit reduction committee included in both the Reid and Boehner plans:
"I pray that I'm wrong," he said, noting that the easy spending cuts are being made now. He predicted the "Super Committee" would end up in a 6-6 deadlock.
He called on Congress not to "punt" on the difficult decisions down the road, and to allow a vote on the "gang of six" proposal"
8:36am | Sen. Mark Warner (D-VA) tells Mike Allen at this morning's Playbook Breakfast he never imagined being this close to August 2nd without a deal:
"It is ridiculous that we are seeing this Kabuki theater," he said. "It’s the height of irresponsibility for us to be this close to the deadline."
He added "All of us [in Congress] should be fired — if we go past August 2nd."
Warner adds that a debt downgrade is the equivalent of a tax increase.
8:27am | Americans for Tax Reform's Grover Norquist is facing tough questions on MSNBC's Morning Joe right now.
Lawrence O'Donnell said the "no-tax pledge" signed "by a bunch of crazies." O'Donnell declared Norquist "the most powerful man in the Republican party." Norquist was central to killing the "grand bargain" earlier this month, rallying those who signed his pledge against any revenue increases in a deal to raise the debt limit.
8:24am | Senate Majority Leader Harry Reid is expected to release a "tweaked" version of his plan to raise the debt limit this morning.
He said yesterday he would add more cuts to reach $2.4 trillion as scored by the Congressional Budget Office. His original proposal was found to have $2.2 trillion in cuts over ten years including war savings.
8:05am | Just how significant is a vote on the debt ceiling?
Like most questions in Washington it can be answered with a reference to NBC TV show "The West Wing."
"So this debt ceiling thing is routine or the end of the world?" Toby Ziegler: "Both." Watch the clip here.
- The Senate and House both convene at 10:00.
- Freshman Republicans will hold a press conference in support of the Boehner plan at 10:30
- House Minority Leader Nancy Pelosi will hold a press conference at 10:45.
- White House Press Secretary Jau Carney will brief the press at 11:00.
- Speaker John Boehner and GOP leader will hold a press conference at 1:30.
7:44am | Good Wednesday morning.
It's D-Day -5 and we may be moving closer to a deal. We will cross into the sub-100 hours range at 8 p.m. tonight.
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See Also:
- Treasury: We Will Unveil Our Secret Plan To Prioritize Payments Before August 2nd
- Why The Boehner Plan Won't Pass
- Boehner Introduces Revised Debt Ceiling Plan, Senate Democrats Pledge To Vote Against It
Source: http://feedproxy.google.com/~r/businessinsider/~3/vbK7qo-V688/live-coverage-2011-7
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