Highlights of Boehner's speech are in the first 3 minutes.
Jim Rogers With The Judge On Economy, Debt, Deficits: "Bernanke Has Never Been Right About ANYTHING!"
Video - Jimmy Rogers with Judge Andrew Napolitano - May 9, 2011
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- Why Berkshire and Buffett never lose - They cheat
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- Monetary Authorites Lie? Perish The Thought!
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- Osama Bin Laden Son Missing From SEAL Raid, Pakistan Says
- Mississippi River Flood Highlights Bailout Costs for Taxpayers
Romney, Gingrich, Palin, Bachman and Huckabee are Tea-O-Cons...
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- US Drone Strike Kills 15 Militants, Says Pakistan
- Muslim leaders kicked off U.S. flight after pilot refuses to fly with them
- Record Number of Americans Targeted by National Security Tap - Must Read
- Some Navy Seal dogs have titanium fangs
- Man with No Arms and No Legs Throws Out First Pitch at Baseball Game
The boldest plan to rein in spending and debt comes from newcomer Sen. Mike Lee (R-Utah), a Tea Party favorite who dispatched Republican incumbent Bob Bennett in the primaries before coasting to victory in the general election last fall. Lee has vowed to block passage of a debt-limit increase unless Congress signs on to his balanced-budget amendment which would cap annual federal spending at 18 percent of Gross Domestic Product (GDP). The amendment would require a super-majority of two-thirds in the Senate and House of Representatives. Lee’s bill is competing with another Republican proposal from Sens. Hatch (Utah) and Cornyn (Texas) to cap spending at 20 percent of GDP. The Hatch-Cornyn bill has weaker rules on its higher cap as well.