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    Obama threatens to veto 'cut, cap and balance'

    WASHINGTON (AP) — The Obama administration says President Barack Obama would veto the "cut, cap and balance" plan proposed by tea party-backed House Republicans if it lands on his desk.

    In a statement, the Office of Management and Budget says that setting arbitrary spending levels and a balanced budget amendment are not necessary in order to achieve financial stability.

    The so-called "cut, cap and balance" plan is favored by some Republican freshmen in the House. It would allow the government to borrow an additional $2.4 trillion, but only after big and immediate spending cuts and adoption by Congress of a constitutional amendment requiring a balanced federal budget.

    The plan is sure to stall in the Senate, where majority Democrats say it would lead to decimating budget cuts.

     

    3,479 comments

    • butch  •  10 mths ago
      Possibly the most polarizing president in history-for a guy who campaigned on reaching across the aisle and uniting the country, he sure has done one heck of a job at pitting classes and parties against each other and splitting the country up.
    • T Bo R  •  10 mths ago
      none of us can SPEND more than we take in....

      U.S. Government should be doing the same.....
      • A Yahoo! User 10 mths ago
        LOL. You're an idiot. How many trillion in consumer debt do citizens have. Wait according to you they don;t spend more than they take in. You're a rube!
      • adrian 10 mths ago
        I agree that the government should balance the budget T Bo R, however the "cut, cap and balance" plan puts forth a series of rules that would basically make far right policy law. For example, it states that no taxes shall be increased on anyone (read the super rich) unless a super majority (2/3, I think) vote in favor of it. This would make it necessary to cut programs and services that middle and lower class familys rely on. Another push to take more of our country's money and put it in the pockets of the richest 1%.
      • Sigh 10 mths ago
        Wrong, most American's are in consumer debt and losing their houses due to their own overspending...
    • yankee123  •  10 mths ago
      My city received millions in stimulus funds for clean energy. They had solar panels
      installed on rooftops of all govt. buildings. The solar panels were made in China.
      Their connectors were made in Mexico. Zero permanent jobs were created. Now
      our local utility company is receiving a 24% rate increase because their profits were
      too low due to our conservation efforts. Do Dems want this kind of nonsense to continue?
      • Jefferson Davis 10 mths ago
        Just remember your Tax money helped build those American factories in China. You paid to lose your job !
      • jason 10 mths ago
        LOL....too true.
      • David 10 mths ago
        Hell, yes they want this to continue. They are out to ruin this country once and for all.
    • Jesse  •  10 mths ago
      I'm tired of all this #$%$ the U.S. government is not like your home budget. Two wars that aren't paid for. Tax breaks that aren't paid. 10,000 people turning 65 everyday,thousands of peoples becoming ill everyday. Veterns coming home wounded phyically and mentally.children in need of medicaid or foster care.what do you people want to do stick your heads in the sand, as long as its not you,right. as long as its not someone you care about,right. well shake yourselfs,life will happen. the government needs cut the budget but it needs to rise revenues too.
      • Jordan 10 mths ago
        Amen, Jesse!
      • ConservativeEd 10 mths ago
        Face it! Maybe if they didn't raid Medicare and SS trust fund s we would have money for these programs...but they spent it...Now we have to change program because of that. We can raise revenue by allowing oil companies to drill for oil in Alaska? Would you support that kind of revenue?
      • Victoria 10 mths ago
        Tax hikes are not "revenue".
    • casanova  •  10 mths ago
      We need to divide America in two!!! Hard working conservatives and the liberal leaches!!!
    • casanova  •  10 mths ago
      obama hates hard working Americans!!! He wasted 4.5 trillion on big corporations (GE & GM), his special interest friends and big banks. Now he wants more tax dollars to give to his wealthy friends!!! Why do liberals waste money like this?!!!
    • casanova  •  10 mths ago
      The cut, cap and balance is a BiPartisan bill!!! obama wants to shut down any hope of a reasonable budget!!!
    • NC democrat  •  10 mths ago
      One of the main reasons that I voted for Obama was his rejection of raising the debt ceiling as a Senator. Why has he flip flopped on this? We need a balanced budget more now than ever.
      • Roy D. 10 mths ago
        Why has he flip flopped? Because the GOP is in favor of less spending
      • Venificia 10 mths ago
        Because every word that has come out of his mouth is a Lie.
      • Obama Sham 10 mths ago
        What possessed you to vote for him in the first place? Just to have the first black president? How racist.
    • Gekko G. et al  •  10 mths ago
      1. You cannot legislate the poor into prosperity by legislating the
      wealthy out of prosperity.

      2. What one person receives without working for, another person must
      work for without receiving.

      3. The government cannot give to anybody anything that the government
      does not first take from somebody else.

      4. You cannot multiply wealth by dividing it!

      5. When half of the people get the idea that they do not have to work
      because the other half is going to take care of them, and when the
      other half gets the idea that it does no good to work because somebody
      else is going to get what they work for, that is the beginning of the
      end of any nation.
    • ControllerOne  •  10 mths ago
      Anyone here every purchased a house? I'm guessing you "deficit spent" when you did so since most of the time the cost of the house exceeds your annual income.
    • AM  •  10 mths ago
      Okay liberals please tell me how you support a president who threatens to veto capping spending and balancing the budget ? No spin, no rhetoric.Simply how this helps America.
    • LCR-T  •  10 mths ago
      This may be OBAMA's "Waterloo" if he ignors what 75% of the American people want!! He thinks we are all stupid and only care about our own pocketbooks!! He does NOT have the skills or talent or experience to be POTUS!!!!!
    • Digger  •  10 mths ago
      Just keep spending...just keep spending...just keep spending...保留消费....(roughly translated: just keep spending in Chinese)....

      In China right now they are chanting this...wake up America, we need to put a cap on spending and cut the pork. Let's start with Executive, Legislative, and Judicial staffers who make WAY too much of a salary, then work our way through the GSA labor pool (overpaid and underworked, trust me), and then get rid of the IRS in favor of a Federal commodities tax.

      That's a good start, then we'll go from there...
    • Neil  •  10 mths ago
      OBAMA in May of this year stopped putting money into the Civil Service Retirement Pension Fund. So the federal government was out of money in May. OBAMA all year long has short changed the social security trust fund by not taking in 2% from everyone's payroll checks. This guy hates old people; notice that he never has a town hall meeting full of old people. It is always at a university.
    • Neil  •  10 mths ago
      The Debt Ceiling was raised $1.9 Trillion in February of 2010. In about 1 year OBAMA is out of money and wants the debt ceiling raised $2.4 Trillion more so he can PEE-AWAY more of our money. OBAMA does not want to stop spending!

      For each $ 1 Trillion dollars borrowed that is about $3,000 dollars borrowed for every man, woman and child in the United States. Not every man, woman and child pays taxes to help pay for this. I think that it is time to restrain this spending and payoff this debt for the sake of saving our country.
    • mytwocents  •  10 mths ago
      We'll veto Obama in the voting booths in 2012. Guess he forgot all about November.
    • Jim  •  10 mths ago
      Does this surprise anybody??? The Democrats never threaten to cut anything (except the budgets of people who actually WORKED for their money). How else are they going to "buy" the votes of their union/poor/student voters??? When will the 47% of voters who pay no taxes start paying THEIR fair share???? Obama has two plans to steal your money-- 1) Tax you, 2) Inflate the currency to the point that your savings are rendered worthless.
    • A Yahoo! User  •  10 mths ago
      LET OBAMA VETO THE BILL--LET HIM CARRY THAT INTO THE NEXT ELECTION .SEE WHAT THE PEOPLE THINK OF HIM THEN --LET HIM HAVE THE BURDEN OF PROVE --HE HAS RODE US DOWN HILL FROM THE FIRST DAY IN OFFICE .
    • Kevin aka cowboy_big_k  •  10 mths ago
      Go Ahead I have already Veto'ed you....you monkey......and everyone of you followers....the day of judgement is closes at hand......
    • JGK  •  10 mths ago
      It took OBAMA over 15 days to get the people affected by the tornadon in Western MA until June 15, 2011 to be able to receive FEMA. Massachusetts how do you now feel about your great Pres?
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