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News Link • Government Debt & Financing

Presidential Power vs. Spin: Is the Great Betrayal Coming?

Even as Boehner touted his party's latest plan at a news conference on Friday, he left open the possibility that the House may take up a compromise being shaped in the Senate that so far has failed to catch on with junior lawmakers. The cut, cap and balance plan that the House will vote on next week is a solid plan for moving forward. Let's get through that vote, and then we'll make decisions about what will come after," he said at a news conference. The cut, cap and balance bill conditions a debt-limit increase on passage of a constitutional amendment that would require the federal government to balance its books each year. Constitutional amendments require a two-thirds vote. That's not likely in the Democratic-controlled Senate, and may even be a stretch in the House. Even if it were to pass Congress, the amendment would not take effect until at least 38 of the 50 state legislatures ratify it... it's smart politics. Polls show that the public, and especially Republican voters, favor a balanced-budget requirement by wide margins.

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