Post by jpcjr on Jul 22, 2011 11:20:05 GMT -5
Friday, July 22, 2011
By Susan Jones
(CNSNews.com) - The Senate voted 51-46 Friday morning to "table" a House bill that would cut and cap federal spending and require a balanced budget amendment.
The bill advanced by House Republicans was expected to fail in the Democrat-led Senate, which – so far – has not produced any deficit-cutting legislation of its own.
For Senate Majority Leader Harry Reid, it's a case of good riddance:
"We just completed a very important vote. We have now demonstrated that the House Republicans' Cut, Cap and Balance is over, done -- it's dead.
Reid said it's time for the "process to move forward," as lawmakers look for a way to "avoid insolvency."
Reid said he's been working with Senate Republican leader Mitch McConnell (R-Ky.) on a "fallback plan" that would give President Obama the authority to raise the debt limit on his own.
www.cnsnews.com/news/article/senate-kills-cut-cap-and-balance-bill
By Susan Jones
(CNSNews.com) - The Senate voted 51-46 Friday morning to "table" a House bill that would cut and cap federal spending and require a balanced budget amendment.
The bill advanced by House Republicans was expected to fail in the Democrat-led Senate, which – so far – has not produced any deficit-cutting legislation of its own.
For Senate Majority Leader Harry Reid, it's a case of good riddance:
"We just completed a very important vote. We have now demonstrated that the House Republicans' Cut, Cap and Balance is over, done -- it's dead.
Reid said it's time for the "process to move forward," as lawmakers look for a way to "avoid insolvency."
Reid said he's been working with Senate Republican leader Mitch McConnell (R-Ky.) on a "fallback plan" that would give President Obama the authority to raise the debt limit on his own.
www.cnsnews.com/news/article/senate-kills-cut-cap-and-balance-bill