Speaker John Boehner will give Barack Obama and Joe Biden what they wants today, a simple, up-or-down vote on raising the U.S. Debt Ceiling. The measure will increase the debt limit by $2.4 Trillion dollars and offer no spending cuts. But do not look for the White House to celebrate, because the House Majority Leader Eric Cantor predicts the vote will fail by a wide margin, handing the Obama Administration a clear defeat. Meanwhile, the Senate Appropriations Committee resumes work on finding a compromise to the Paul Ryan 2012 budget plan.

debt ceiling

Today′s vote would increase the debt ceiling from $14.3 Trillion dollars to $16.7 Trillion, with no conditions. But with most polls showing a majority of Americans opposed to raising the debt ceiling, even with spending cuts attached, today′s vote will fail with bipartisan opposition. The message being sent to the White House by this legislative exercise is simple, no spending cuts, no increase in the debt limit.

That the vote comes on the eve of a meeting between Obama and House Republicans is obviously no accident. On Wednesday, Obama will meet with House GOP leaders, then with Democrat leaders on Thursday, to discuss budget issues. Since March, Joe Biden has been the point-man for the Obama Administration, holding some five meetings with a bipartisan group to hash out a budget deal. A sign of just how rudderless the White House is now that most of its former economic team have departed.

Speaker John Boehner and House Majority Leader Eric Cantor are holding the line when it comes to connecting any increase in the debt ceiling with spending cuts. The Barack Obama White House insisted on having a ′clean′ vote on raising the debt limit, so today they will get their wish. The vote is doomed to fail, which will put the Obama Administration on the defensive this week as more fiscal talks continue. The Senate Appropriations Committee talks on the Paul Ryan 2012 budget plan are going nowhere, likewise Joe Biden and his bipartisan group. The reality official Washington faces is that the debt ceiling will not be increased without some significant spending cuts, as well as reforms to entitle programs like Medicare.

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