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July 29, 201

Default Democrats?Will Obama And Senate Democrats Choose Default Ove

Real Spending Cuts? ______________________________________________________________________

THE HOUSE PASSED $917 BILLION IN SPENDING CUTS

Tonight, The U.S. House Of Representatives Passed The Budget Control Act, Which Will Cut And Cap

Spending By $917 Billion. (“Analysis Of The Impact On The Deficit Of The Budget Control Act Of 2011 As Revised In The House,” CongressionalBudget Office, 7/27/11)

THE HOUSE HAS NOW PASSED TWO BILLS TO CUT SPENDING

The U.S. House Of Representatives Already Passed One Significant Spending Reduction MeasureEarlier This Month. “The House of Representatives passed a Republican proposal to raise the debt ceiling.The measure, called the ‘Cut, Cap and Balance Act,’ would raise the debt limit by $2.4 trillion but would beaccompanied by mandatory spending cuts and a balanced budget amendment. The vote was 234-190.” (“Hou

Passes ‘Cut, Cap, And Balance’ Bill,” C-SPAN, 7/19/11)

The House Passed A Budget Too, Something The Senate Democrats Can’t Seem To Do 

The House Passed A FY2012 Budget Resolution Which Cut Spending By $5.8 Trillion Over 10 Years.“The Republican-led House passed on Friday its fiscal 2012 budget resolution, which cuts $5.8 trillion fromcurrent spending levels over the next 10 years and reforms Medicare and Medicaid, a clear display of theGOP's vision for policy and spending.” (Humberto Sanchez, “House GOP Passes 2012 Budget Resolution,” National Journal , 4/15/11) 

NOTE: Senate Democrats Have Not Passed A Budget For 821 Days, Since April 29, 2009. (S. Con. Res. 13, Rol

Call 173; D 53-3, R 0-40, I 2-0; 4/29/09) 

 AND OBAMA REJECTED BIPARTISAN AGREEMENT FROM THE HOUSE AND SENATE

Obama Rejected Bipartisan Deal Presented To Him By Democrat Senate Majority Leader Harry Reid

House Speaker John Boehner, And Senate Minority Leader Mitch McConnell. “Republicans in Congresscharge that President Obama last night rejected a bipartisan deal offered to him by Congressional leaders oboth parties which would have provided for a short-term extension of the debt limit in order to avoid a U.S.Government default. The agreement involved Speaker Boehner, Senate Majority Leader Reid and SenateGOP Leader McConnell - in fact, staffers from Reid and McConnell's offices were working on the legislativelanguage together on Sunday. But when Reid took the bipartisan/bicameral plan down to the White House,it was rejected by the President.” (Jamie Dupree, “President Rejected Debt Deal,” Cox Media Group, 7/25/11)

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NOW IT’S UP TO DEMOCRATS TO PREVENT THEIR OWN WARNINGS ABOUT DEFAULT

FROM COMING TRUE

President Obama: “If the United States government, for the first time, cannot pay its bills, if it defaults, thethe consequences for the U.S. economy will be significant and unpredictable. And that is not a good thing.” (President Barack Obama, News Conference, 6/29/11)

  Obama: “Defaulting On Our Obligations Is A Reckless And Irresponsible Outcome To This

Debate.” OBAMA: “If that happens, and we default, we would not have enough money to pay all of our bills -– bills that include monthly Social Security checks, veterans' benefits, and the government contracts we've signed with thousands of businesses. For the first time in history, our country's AAAcredit rating would be downgraded, leaving investors around the world to wonder whether theUnited States is still a good bet. Interest rates would skyrocket on credit cards, on mortgages and oncar loans, which amounts to a huge tax hike on the American people. We would risk sparking a deepeconomic crisis -– this one caused almost entirely by Washington. So defaulting on our obligations isa reckless and irresponsible outcome to this debate. And Republican leaders say that they agree wemust avoid default.” (President Barack Obama, “Address To The Nation On The Federal Debt Ceiling,” 7/25/11) 

Sen. Harry Reid (D-NV): “’Default Will Rock Our Financial System To Its Core.” “’Default will rock ourfinancial system to its core,’ Senate Majority Leader Harry Reid, D-Nev., said at the start of the Senatesession.” (Andrew Taylor, “House GOP Set To Vote On Revamped Debt -Limit Bill,” The Associated Press, 7/28/11)

Sen. Charles Schumer (D-NY): “At A Time When The Economy Is Still In Rough Shape, TheConsequences Of Government Default Would Be Catastrophic.” “‘At a time when the economy is still inrough shape, the consequences of government default would be catastrophic,’ Schumer said. ‘Money that could pay for college tuition, a car payment or a vacation would be down the drain paying for higher intererates.’” (Bob Recotta, “Schumer Says Government Default Would Have ‘Catastrophic’ Effect,” The Leader  [Corning, NY], 7/21/11) 

Rep. Nancy Pelosi (D-CA): “We Must Come Together For An Agreement Because Our Economy AndMiddle Class Will Suffer From A Default.” (Press Release, “Pelosi Statement On Proposals To Reduce The Deficit, Avoid Default ,” 7/25/1