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Debt bill passes House, divides NC delegation

With one day to spare before the August 2nd deadline, the U.S. House voted Monday to approve legislation that will raise the debt ceiling and cut spending by $2.1 trillion.

While the package prevents the U.S. government from defaulting on the nation’s loans, critics note that it includes no additional revenue and makes deep cuts to public investments.

After voting against the bill, Democrat Rep. David Price released the following statement:

“From the beginning, I have said that any serious approach to deficit reduction must do two things:  protect the fragile recovery, because the best cure for a budget deficit is a growing economy, and take a balanced approach to finding savings by putting all types of spending and revenues on the table.  This agreement meets neither of these tests.

Instead of charting a responsible path to deficit reduction while continuing to invest in economic recovery, the bill imposes severe spending caps that will become even more severe if the deficit commission created by the bill fails to achieve consensus.  Instead of taking a balanced approach that includes new sources of revenue, such as an end to special-interest tax breaks, the bill asks the elderly and working-class Americans to bear the brunt of the sacrifice.  Why are we not asking the wealthiest Americans to make the same sacrifices other Americans have already been asked to make?

Finally, I also vote no because I refuse to legitimize the demands of ideologues who have recklessly held the national economy hostage to their extreme agenda.  Governance by brinksmanship is not worthy of being called governance.  The American people deserve better than a House of Representatives that forces the entire country to lurch from one artificially created crisis to the next.  We are United States Congress, not the Tea Party’s Congress, and it’s time we started acting like it.”

Here’s how the rest of North Carolina’s delegation voted Monday evening:

Ayes

Rep. Howard Coble (R)
Rep.Renee Ellmers(R)
Rep. Virginia Foxx (R)
Rep. Patrick McHenry (R)
Rep. Sue Myrick (R)
Rep. Heath Shuler(D)

Noes

Rep. G.K. Butterfield (D)
Rep. Walter Jones (R)
Rep. David Price (D)
Rep. Larry Kissell(D)
Rep. Mike McIntyre (D)
Rep. Brad Miller (D)
Rep. Mel Watt Watt (D)

The U.S. Senate votes on the bill on Tuesday.

10 Comments

  1. Alex

    August 2, 2011 at 7:43 am

    David Price has never seen a spending bill he didn’t like. He’s the type of politician we need to get out of Washington if we ever want to put our financial house in order.

  2. James Coley

    August 2, 2011 at 4:58 pm

    Alex, can you document that David Price has never voted against a spending bill?

  3. Alex

    August 2, 2011 at 5:32 pm

    I can never remember one that he voted no.

  4. OK Hicks

    August 3, 2011 at 1:05 pm

    It never ceases to amaze that so many people can remain so blind to the hipocrisy of the Demagogues of the DC Establishment, of which David Price has been a card carrying member for far to long.

    The fact that he voted against this travesty would be commendable, if his reasons were not so blatantly hypocritical.

    Based on the fact that his DC Cronies in crime held an undefeatable majority in the House, and a 60 vote filibuster proof majority in the Senate, and failed to not once pass a budget is beyond irresponsible, it is inexcusable to give the monstrosity we call Federal Government a blank check to spend at will.

    Thanks to Mr. Price and his fellow partners in treason, our national debt soared in those two years to a sum greater than our nations conception through 2008 combined.

    He was a party to passing the greatest tax increase in our nation’s history, and did so without even reading a single word of the bill now known as Obama Care, which contains an excess of 100 non health related taxes tucked into every nook and cranny.

    Then Price stood behind his Pal Pelosi when she so eloquently stated when asked how they would pay for their absurd program of Health Care Reform, she replied “We’re going to wring it out of Medicare”, and wring they did a $500 million dollar cut to Medicare. While they were at the same time telling the Elderly and disabled there had been no Cost of Living Increase (COLA), therefore there would be no benefit increase. Then turn around a give themselves a COLA for both years that they had denied it to those Elderly and Disabled they now claim to care so much about.

    What Mr. Price fails to mention is that he himself is one of those greedy multimillionaires who has taken full advantage of every single one of those selfish tax breaks granted to the wealthy. In fact based on Forbes 2010 listing 8 out of 10 of the wealthiest in Congress are Liberal Democrats, and 8 out of 10 of the wealthiest in America are as well self-professed Liberal Democrats, all of which Obama included took advantage of those same cuts.

    When the average wealth of those who write our laws is $13 million each, how can anyone believe those who are calling for an end to the tax breaks for the wealthy, when they are both one in the same, no more concise an example of RICO could ever be found than that which comprises our federal government.

    Enough is Enough Mr. Price, the people are waking up to see this whole charade was a fabricated farce deliberately contrived by both parties of the DC elites to demonize the democratically elected representatives who dared to participate the unthinkable act of keeping their promise to end the irresponsible waste and spending, and end burden being unjustly hoisted upon the backs of their constituents.

    It is now clear to see that there are those with enough courage and fortitude to oppose those with-in our government who serve not the people, but only their party’s interest. For the first time in our living history, we have seen proof that we can still send true representatives to stand and fight for us in Washington, those who will honor their oath to serve us and us alone.

    We don’t need less of them, we need more of them, and this Independent was shown that light thanks to the true Terrorist among us, those of our self-serving party elites of Congress like yourself, and their Corporate Media Masters.

    U.S. lawmakers among world’s best compensated
    Posted by LegiStorm on Wednesday, July 27, 2011

    The $174,000 base salary for members of Congress is one of the highest legislator pays in the world when compared against the average wage earner, a new report shows.

    When benefits are added in, lawmakers earn around $285,000, according to the report released by the Taxpayers Protection Alliance and Our Generation. The largest benefit is contributions toward retirement, which the study’s authors estimated at $82,000 annually.

    The base salary for a member of Congress is 3.4 times greater than the average $50,875 wage of a full-time employee in the United States. That disparity is second only to Japan (3.7 times) among the 13 countries highlighted in the study. Before adjusting for benefits, the base salary places members amoung the top 5 percent of all American workers.

    The study’s authors conclude that pay for members of Congress is excessive in light of the current economic climate.

    “Immediate steps need to be taken to cut Congressional salaries and benefits and reassure Americans that sacrifices made during this economic downturn are being widely shared.”

  5. Joe

    August 4, 2011 at 5:12 pm

    David Price
    Washington, DC

    Mr. Price

    Wow, you are my representative in the house of the United States Congress and you speak of my opinions in a very hating manner!
    You state from above:”demands of ideologues who have recklessly held the national economy hostage to their extreme agenda.”

    Sounds like hate speech to me. Not to mention your agenda, Mr. Price is extreme to me, but just to the left. Consider this, could it be the American people voted these idealogues in to do a job, that is cut spending and remove Obama Care, and they were sticking to their guns……yes I think that is it.
    But alas, these American people that voted them into office in order to end the Price and Obama spending spree are called Extreme by you, Mr. Price. Didn’t we just have one of the largest and fastest changes of congress in US History? A change from your social beliefs to my conservative beliefs? I can only conclude, Mr. Price you are calling the people who voted them in extreme as well. So then Mr. Price, how can my views be considered extreme, when it is evident that the majority of Americans, based on this last election cycle, are more in line with my views that yours? I submit the only thing extreme is you pushing Obama Care down our throats. Most Americans did not want it, this is not debatable.

    From Above: U.S. House voted Monday to approve legislation that will raise the debt ceiling and cut spending by $2.1 trillion.
    That is 2.1 Trillion over 10 years, tell the WHOLE TRUTH Mr. Price. Our debt was 1.4 trillion this year alone. Unless we cut spending by 1.4 trillion annually, we are not reducing my grandchild’s debt!

    From Above: Why are we not asking the wealthiest Americans to make the same sacrifices other Americans have already been asked to make?
    This is easy. First, you are not ASKING the wealthiest Americans to pay more, you plan to take it right out from under them and raid their earnings. Wow, those same earnings in which that wealthy American could use to give me a job!
    Sir, as far as paying their fair share, I would ask, “What percentage of their earnings should that be?” What should be their “Fair Share?” IRS numbers for 2005 show the top 25% of income earners, (Price describes them as fortunate wealthy Americans, I call them hard working men and women) pay OVER 85% of the total tax collected. I would say 85% is a fair share, but it seems you disagree. I am curious, if you took ALL these fortunate wealthy Americans money, every cent from the top quarter wage earners, what impact would it have on the spending debt? Not much I am sure, then what? I guess you would have to cut spending then!

    Finally, you state above: the best cure for a budget deficit is a growing economy.

    How conservative of you to believe this. Put your words into action now Mr. Price, the economy will grow when government gets out of the way, and when the “rich” as you say begin to believe they can get a good value for their hard earned dollar in order to buy something and hire someone. Higher taxes will not help accomplish this.

    The proof will be in November 2012. I hope you enjoy the retirement and the Health care plan you have voted for yourself in the congress. I am confident you will need it soon.

    Sincerely and with all due respect,

    Joe Cockerham
    Raleigh, North Carolina

  6. Ricky

    August 5, 2011 at 10:25 am

    A report released back in March by Kaiser Family Foundation http://www.kff.org/kaiserpolls/upload/8166-F.pdf found that general sentiment of Americans toward the ACA is pretty split. And actually when it’s broken down to the individual provisions of the ACA, it’s actually mostly favorable. So the statement that the American people voted officials in to repeal it is quite debatable…

    As for are the wealthy paying a fair share? http://curiouscapitalist.blogs.time.com/2011/05/09/are-top-u-s-earners-over-taxed/

    “On average, the wealthiest Americans pay only 17 percent of their income in taxes, a dramatic decline from the 26 percent they paid in 1992.” http://www.theatlanticwire.com/politics/2011/04/tax-rates-down-dramatically-super-wealthy/36755/

    Here’s an interesting academic article on the distribution of wealth… http://sociology.ucsc.edu/whorulesamerica/power/wealth.html According to this report, the top 20% of households holds 93% of the total financial wealth of the nation in 2007, and 85% of the total wealth in terms of total net worth.

  7. Joe

    August 5, 2011 at 3:31 pm

    David Price
    Washington DC

    Mr. Price,

    As you are aware, the stock market yesterday, August 4th, 2011 dropped over 500 points, gas prices are way too high, unemployment has not recovered in 2 years, and there are talks of more layoffs. The price of gold is as high as I can remember, the US credit rating has taken a hit, I thought I would receive some of the money I have invested in Social Security when I turned 65, then it changed to 67, now there is talk of me having to wait till I am 72. Medicare is Broke, Social Security is broke, and the Government is 14 trillion in debt.

    You have been in Washington for so long that all of this has happened on your watch. Your policies have caused all of this uncertainty in the markets. When people spend, it creates tax revenue, but your economic beliefs create an environment that does not create spenders. When I spend a dollar, government gets 7 cents. When I do not spend Government does not get 7 cents. It is that simple.

    When will you choose to change your socialist beliefs and create an environment that would encourage folks to spend money? When people spend money, tax revenue is created. You however want to deincentivise folks to go to work and make money. Why in the world would anyone want to work hard and become rich, when all you want to do is take the money from them if they become rich after working hard. The American dream deflated.

    Based on today’s economic outlook, and your voting record over the years that steal money from hard working families, you should be ashamed. Help the economy recover, resend Obama care, extend the Bush tax cuts for ever, and create an environment that will provide incentive for folks to spend by voting for more tax cuts. Hurry, as I believe you do not have long to get this done!

    Joe Cockerham
    Raleigh

  8. Joe

    August 5, 2011 at 3:44 pm

    thanks for responce. Please provide your full name as not to hide behind closed doors rick.

    OK it is debatable, but you can debate 1 plus 1 equals 2 as well, does not mean its valid.

    You quote time Magazine, I quote IRS

    Read what I said Ricky, I wrote they pay 85% of tax burdon, not their percentage of income. 10 folks go to dinner, bill is a hundred bucks. 2 people pay 70 dollars 3 pay 5, the rest pay none, and you seem to think the 2 that paid the 70 bucks did not pay their share. What about the folks who pay nothing?

    Again, some sociology article about distribution of wealth, quote facts man …what gives Mr price the right to take someones money and give it someone else anyway…what nerve you and he have. Why do you seem to think some one elses money is not theirs?

    Bottom line, you can not take money from the private sector and then make it grow. Now please you and Mr price get out of our financial lives!

  9. […] According to NC Policy Watch, Price was one of a state member who voted no on a Aug. 1 debt check … a one that certified a lifting of a debt ceiling, during a same time as it slashed $2.1 trillion from “public investments.” This is a substitution for programs that emanate jobs directly by supervision spending, and that strengthen society’s many exposed members by strengthening a amicable reserve net. […]

  10. […] According to NC Policy Watch, Price was one of our state representatives who voted no on the Aug. 1 debt bill … the one that authorized the raising of the debt ceiling, at the same time as it slashed $2.1 trillion from “public investments.” This is a euphemism for programs that create jobs directly through government spending, and that protect society’s most vulnerable members through strengthening our social safety net. […]