Speaker John Boehner (R-OH) apparently lacked the votes to pass his weak deal through the House.
Boehner’s case for passage collapsed after the Congressional Budget Office found just $1 trillion in cuts over 10 years (and that’s if future Congresses don’t spend more) and just $1 billion in deficit reduction for 2012.
In exchange for miniscule deficit reduction, shaky promises for future cuts, and no entitlement reform, Boener wanted to give Barack Obama an immediate $1 trillion debt increase.
Not gonna happen.
So now a spokesman for Boehner says congressional staffers have begun re-writing the plan, effectively admitting that the previous version was too weak and lacked the votes for passage.


by Stephan Tawney on July 26, 2011