Tea Party Debt Plan To Reach House Floor Tuesday
“Let’s let the American people decide,” urges Congressman Jim Jordan of Ohio.
A Republican “cut, cap and balance” plan set for a House vote Tuesday would condition a $2.4 trillion increase in the so-called debt limit on an immediate $100 billion-plus cut from next year’s budget and adoption by Congress of a constitutional amendment to require a balanced budget.
The chances? None.
The cut, cap and balance plan, however, is a dead letter with Obama and in the Democratic-controlled Senate – as is a separate effort by Republicans in that chamber to adopt a balanced budget amendment. Amending the Constitution requires a 2/3rds vote of both Houses, including 67 votes in the Senate, where Republicans control just 47.