No Debt Vote

Friday, July 29, 2011 - 8:51am

A massive breakdown in the Republican party has put the country even closer to defaulting on its bills.

One lawmaker called it "pretty scary."

Vermont Senator Bernie Sanders said, "What's going on in the House is a disgrace. It is an outrage."

House Democratic Whip Steny Hoyer said, "The Republicans are holding hostage the credit of the United States of America."

House Speaker John Boehner had to postpone a vote on his trillion-dollar deficit savings plan because he couldn't get enough votes from his own party.

"The last thing we need to do is be playing around with August 2nd," said Boehner.

Tea Party conservatives blocked it. They are split.

Wisconsin Representative Sean Duffy said, "This is the only proposal on the table that accomplishes the goals that we set out to do."

Texas Representative Louis Gohmert said, "I can't vote for a bill that only cuts one trillion dollars."

Boehner meets with Republicans again this morning. He's not giving up.

Indiana Representative Mike Pence said, "We are determined to find a way to pay the nation's bills but to do that in a fiscally responsible way."

What's next? Today the Treasury Department may introduce an emergency plan.

Some lawmakers say it's time to abandon deficit reduction and focus only on extending America's borrowing limit:

Minnesota Representative Keith Ellison said, "A clean debt ceiling vote, and then continuing on with this conversation, or failing that, a 14th amendment option is what's in front of us."

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