So with a few tweaks in language and a promise to do the unthinkable, Boehner may have gotten permission from his Televangelists to pass his bill. The House reconvenes at 2PM EST.
To secure enough votes from his own members for his plan, Speaker Boehner is amending it to basically turn it into Cut, Cap, and Balance Lite.
Here's the key new provision that is apparently going to win enough GOP votes to pass the bill:
The debt ceiling would be raised immediately but not by enough to get the government through next year. To get the second debt ceiling increase, House Republicans want a balanced budget constitutional amendment to pass both chambers first and be referred to the states.
Never going to happen, but that's where we are. It makes you wonder if there's any compromise plan that can get through this House. That's why, even though my gut says there's no way the U.S. is stupid enough to default, I still can't see a clear, viable way out of this.
Paul Ryan admits on FOX that passing a Balanced Budget Amendment is a pipe dream:
RYAN: What I never really agreed with is the idea that we would expect Harry Reid and Nancy Pelosi to deliver 40 [and] 15 votes from Democrats for our version of the Balanced Budget Amendment. You know, I just never thought that was realistic, to demand Democrats vote against their conscious for our version of the Balanced Budget Amendment. So I just never thought that would work.
Ryan’s political calculus is of course accurate, but it’s noteworthy coming from the GOP’s chief number cruncher and the staunchly conservative author of the Medicare-ending Republican budget. The current GOP version of the BBA is a disastrous idea that even leading conservatives have rejected. There’s no way it could achieve the two-thirds majority needed in both houses of Congress to pass, let alone before the Aug. 2 deadline to raise the debt limit. But as House Speaker John Boehner (R-OH) said yesterday, many members of own caucus are willing to let the deadline pass in the hope that the ensuing economic “chaos” would force Democrats to switch their votes.
The Tea Party compromise is to try and change the Constitution. Some Originalists, huh? This will never happen.
Meanwhile Harry Reid tells Republicans they have until Midnight at the Oasis to get something done.
You have until midnight.
That's the message Senate Majority Leader Harry Reid (D-NV) has conveyed to Senate Republicans. If they want any further input on his debt limit bill, they need to speak up by then. Otherwise, he'll touch off a process that could result in passage of his plan on the afternoon of August 2.
"I have invited Sen. McConnell to sit down with me and to negotiate in good faith, knowing the clock is running down. I hope he will accept my offer," Reid said on the Senate floor Friday. "I know the Senate compromise bill Democrats have offered is not perfect in Republican' eyes. Nor is it perfect for Democrats."
Chuck Todd was on with Andrea Mitchell and blamed the Tea Party Caucus for holding up the debt ceiling and for much of this chaos although he wouldn't come out and name them. He said something like one segment of one party is mucking it all up. Typical Villager double speak.