The Leader's Ledger

Posted by Brian Patrick on

Good morning,

House Republicans, who have already passed a debt limit increase, remain committed to finding a common-sense solution to meet the President's request for a debt limit increase that achieves serious spending cuts and puts in place binding reforms to begin to get our fiscal house in order. President Obama has made an indefensible request of the American people: agree to $2.4 trillion blank check or the nation will default. Handing the President that blank check will only perpetuate the growing debt crisis and make the economy and the jobless situation in this country exponentially worse. House Republicans will not agree to this irresponsible approach - we will only vote for such an increase if it is accompanied by serious spending cuts that equal or exceed the amount of the debt ceiling increase. Our new framework provides the path forward to avoid default and fix the spending problem in Washington, without raising taxes on families and the small businesses we're counting on to create jobs.

Today In History: In 1978, Louise Joy Brown, the world's first baby to be conceived via in vitro fertilization (IVF) is born at Oldham and District General Hospital in Manchester, England, to parents Lesley and Peter Brown.

Birthdays: Matt LeBlanc, Walter Payton, Estelle Getty Yesterday: Anna Paquin, Summer Glau, and Amelia Earhart

Here is what’s in today’s Ledger ...

State Of Play: House Republicans Ready A Two-Step Solution That Cuts Spending and Helps Get Our Fiscal House In Order

Leader Cantor: The President’s Refusal To Accept A Two-Step Solution For Increasing The Debt Limit Is Purely Political and Indefensible. On #GOP member call Cantor says #Obama 's refusal to accept a short term #debt deal is "purely political and indefensible." NBC News’ Luke Russert

  • Cantor: Spending Cuts Must Be Equal To Or Greater Than The Amount The Debt Limit Is Increased. Cantor on conf. call: Must "insist that every $ the debt limit is increased, we have equal or more $s in spending cuts" Reuters’ Jim Pethokoukis

President Obama Rejects Bipartisan Debt Deal. President Obama last night rejected a bipartisan deal offered to him by Congressional leaders of both parties which would have provided for a short-term extension of the debt limit in order to avoid a U.S. Government default. ... The bipartisan offer sounded much like what Republicans have been trying to sell in recent days - a short term extension of the debt limit of about $1 trillion into next year, and then the creation of a special committee to wring out even more budget savings later. "Sen. Reid took the bipartisan plan to the White House and the President said no," the aide said. Atlanta Journal-Constitution

President Obama Isn’t Serious About Cutting Spending. The President insists his party is offering serious spending cuts and entitlement reform. He also likes to talk about "balance," which to him means real tax increases immediately and speculative spending cuts some time in the distant future. Behind the scenes the White House has only ever agreed to token reform and cuts. Here's a number for the debt history books: Mr. Obama's final offer in the Biden talks was a $2 billion cut in 2012 nondefense discretionary spending. The federal government spends more than $10 billion a day. The Wall Street Journal

Reminder: The Democrats’ Obsession With Raising Taxes Is What Got Us Here. The House-passed spending control plan rejected by the Senate is exactly what Republicans were elected to do last November. The president's obsession with tax increases repudiates the will of the people. ... According to Obama, if we don't increase taxes on an economy suffering 9.2% unemployment, "seniors would have to pay a lot more for Medicare." (He failed to mention that Medicare is doomed without substantial reform.) ... If we don't hike taxes — leaving investors with less wealth with which to generate new private-sector jobs — "laid-off workers might not be able to count on temporary assistance or training to help them get a new job," according to the president's circuitous logic. What's going on here is pure political calculus. Republicans have done their job, offering a plan that raises the debt ceiling, sharply cuts current spending, reforms future spending authority and asks the states to ratify a Balanced Budget Amendment to the Constitution. Investor’s Business Daily

The Obama Economy: President Obama’s Economic Policies Have Failed To Put Americans Back To Work

Arianna Huffington: President Obama’s Stimulus Package Was A Failure. In 2009, the Democratic-controlled Congress and White House authorized $787 billion in stimulus spending, which was intended to rescue the U.S. economy from spiraling into a free fall. ... “So you’re saying the stimulus package failed?” Gasparino replied. “The stimulus package failed because it was all over the map,” she said. “It was not a targeted, clear jobs creation program.” The Daily Caller

Small Businesses Continue To Be “Pummeled” By President Obama’s “Relentless” Regulatory Push. The Obama administration’s push to mend its relationship with business has gone cold only six months into the effort. Complaints abound about the regulations pouring out of federal agencies to implement the federal healthcare and financial regulation laws. ... “With the Obama administration, it just seems to be relentless,” said David Rhoa, owner of a bulk-mailing facility based in Kalamazoo, Mich. “I’ve become accustomed to the fact that this pummeling keeps coming.” ... Yet business still isn’t feeling the love, and suggests there’s more show than substance to Obama’s efforts. “They’re not even aware that the administration says they’re focusing on small business, because they don’t feel the changes,” said Cynthia Magnuson, a spokeswoman for the National Federation of Independent Business. ... Bernie Marcus, the co-founder of Home Depot, told Investor’s Business Daily that the federal government was the largest impediment to job growth. “As he speaks about cutting out regulations, they are now producing thousands of pages of new ones,” Marcos said. The Hill

Getting To Know The Freshmen

Tim Scott: Rep. Tim Scott represents the First District of South Carolina. Prior to being elected to Congress, Tim served on the Charleston County Council for 13 years, including four terms as Chair and in the South Carolina House of Representatives for two years where he was elected Chairman of the Freshman Caucus and House Whip. He was the owner of Tim Scott Allstate and partner of Pathway Real Estate Group.

Off The Beaten Path

Ancient Dino-Eating Croc Had Huge Teeth And A Dog's Face – Live Science

Awesome - Mexico’s Crystal Caves – The Daily Mail

There wasn’t a better place to swim?

GOP Health Care Reforms