(Image source: MyGovCost )

 

BY: MALLORY PERRYMAN

Four days until the debt ceiling deadline.

And still-- no deal.

President Obama: "There are plenty of ways out of this mess, but we're almost out of time.,"

Sen. Harry Reid (D-NV): “We cannot wait for the House any longer ... We have hours, I repeat hours to act." 

On Friday-- House Speaker John Boehner’s twice-revised debt plan may break through the House.

After the Speaker made concessions to the far-right to scrounge up votes he couldn’t get earlier this week.

GOP Representative: “I’m a yes now”

Rep. Phil Gingrey (R-GA): “I am. I absolutely am an enthusiastic yes." 


But while Bohener’s bill has changed in the past few days-- Democratic feelings toward it- remain the same.

Sen Harry Reid (D-NV): “It will be defeated. They know that ... No Democrat will vote for a short-term band-aid approach ...”

So Senate Majority Leader Harry Reid set the stage for his own plan Friday morning.

Sen Harry Reid (D-NV): “That’s why by the end of today I must take action on the Senate’s compromise legislation." 

With Boeher’s bill a no-go in the Senate--

And Reid’s bill unlikely to make it through the House--

What happens now?

The Washington Post’s Lori Montgomery weighs in on MSNBC-- saying, the politicking may end after the House vote.

Lori Montgomery (Washington Post)“Guys were telling us, you know Senator Roy Blunt, who was second under Boehner in House leadership just a couple of years ago, was flatly saying that once Boehner gets this bill through and demonstrates, saves face if you will, demonstrates that he can pass something, he’s going to have to move toward the compromise." 

And John Shaw of Market News International adds-- the real bargaining is about to begin. He says-- publicly, Senate Minority Leader Mitch McConnell has been rooting for the Boehner bill-- but behind the scenes, he’s been gearing up for negotiations with Reid.

John Shaw (Market News International): “It would have been unseemly for him to begin negotiating while the Boehner bill was still alive ... McConnell knows the Senate is going to defeat it and after the Senate defeats it, I think that’s when the intense negotiations are going to begin." 

But in a battle more about politics than economics-- Senator Dick Durbin says, no one is coming out of this one a winner.

Sen. Dick Durbin (D-IL): “No one will care at the end of the day who had the great political headline. But we will all be judged, Democrats and Republicans, House and Senate as to whether we met our constitutional obligation to this nation and the people who live here." 

 

Follow Newsy on Twitter @Newsy_Videos for video news in your feed.

Transcript by Newsy.

Debt Update: Gearing up for the Final Battle?

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Transcript
Jul 29, 2011

Debt Update: Gearing up for the Final Battle?

(Image source: MyGovCost )

 

BY: MALLORY PERRYMAN

Four days until the debt ceiling deadline.

And still-- no deal.

President Obama: "There are plenty of ways out of this mess, but we're almost out of time.,"

Sen. Harry Reid (D-NV): “We cannot wait for the House any longer ... We have hours, I repeat hours to act." 

On Friday-- House Speaker John Boehner’s twice-revised debt plan may break through the House.

After the Speaker made concessions to the far-right to scrounge up votes he couldn’t get earlier this week.

GOP Representative: “I’m a yes now”

Rep. Phil Gingrey (R-GA): “I am. I absolutely am an enthusiastic yes." 


But while Bohener’s bill has changed in the past few days-- Democratic feelings toward it- remain the same.

Sen Harry Reid (D-NV): “It will be defeated. They know that ... No Democrat will vote for a short-term band-aid approach ...”

So Senate Majority Leader Harry Reid set the stage for his own plan Friday morning.

Sen Harry Reid (D-NV): “That’s why by the end of today I must take action on the Senate’s compromise legislation." 

With Boeher’s bill a no-go in the Senate--

And Reid’s bill unlikely to make it through the House--

What happens now?

The Washington Post’s Lori Montgomery weighs in on MSNBC-- saying, the politicking may end after the House vote.

Lori Montgomery (Washington Post)“Guys were telling us, you know Senator Roy Blunt, who was second under Boehner in House leadership just a couple of years ago, was flatly saying that once Boehner gets this bill through and demonstrates, saves face if you will, demonstrates that he can pass something, he’s going to have to move toward the compromise." 

And John Shaw of Market News International adds-- the real bargaining is about to begin. He says-- publicly, Senate Minority Leader Mitch McConnell has been rooting for the Boehner bill-- but behind the scenes, he’s been gearing up for negotiations with Reid.

John Shaw (Market News International): “It would have been unseemly for him to begin negotiating while the Boehner bill was still alive ... McConnell knows the Senate is going to defeat it and after the Senate defeats it, I think that’s when the intense negotiations are going to begin." 

But in a battle more about politics than economics-- Senator Dick Durbin says, no one is coming out of this one a winner.

Sen. Dick Durbin (D-IL): “No one will care at the end of the day who had the great political headline. But we will all be judged, Democrats and Republicans, House and Senate as to whether we met our constitutional obligation to this nation and the people who live here." 

 

Follow Newsy on Twitter @Newsy_Videos for video news in your feed.

Transcript by Newsy.

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