House Approves "Cut, Cap & Balance" Bill
House approves 'cut, cap and balance' bill 234-190
Obama indicated that the latter plan may be needed as a backstop plan, as Reid said the Gang of Six plan may not be ready in time to meet the August 2 debt-ceiling deadline.
By Pete Kasperowicz - 07/19/11 08:22 PM ET
The House on Tuesday evening approved the Republican's controversial "cut, cap and balance" bill by a 234-190 mostly party-line vote, although the bill was likely made irrelevant even before its passage by signs of progress in the Senate on a debt ceiling agreement.
President Obama himself announced that the bipartisan Gang of Six group of senators reached a broad agreement to cut $3.7 trillion over 10 years. Additionally, Senate Majority Leader Harry Reid (D-Nev.) said he saw a breakthrough on a smaller agreement that would allow Obama to raise the debt ceiling himself in three stages, subject to a procedural vote in Congress.
In contrast to these Senate-based possibilities, the House GOP bill had the support of just five Democrats in the final vote, and was supported by all but nine Republicans. Obama said earlier in the day that few see the House-passed bill as a way forward given the dug-in opposition by Senate Democrats.
The House vote came after what was technically four hours of debate on the bill and an hour of debate on the rule. However, the entire process lasted nearly eight hours due to votes and the introduction of dozens of members who lined up to speak either for or against the bill.
Republicans argued repeatedly during the day that their bill, H.R. 2560, was the only plan on the table, and criticized the several Democrats who said it is too radical a plan. The bill would cut more than $100 billion in spending in 2012, cap spending to a falling percentage of GDP through 2021, and prohibit any additional federal borrowing until Congress approves a balanced budget amendment.
House Budget Committee Chairman Paul Ryan (R-Wis.) said the bill is urgently needed to rein in a growing federal debt.
"In the good old days of 2007, we used to say that this debt was a threat to our children and our grandchildren," Ryan said. "Not so anymore. It is a threat to our economy today."
Republican support for the bill was punctuated by several comments that President Obama is "arrogant" for telling Americans to "eat their peas" last week.
"This from a president who had the federal government on a 'supersize me' diet since the day he has been sworn in," Rep. Jack Kingston (R-Ga.) said. "Marie Antoinette would be proud of such arrogance."
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