–House Minority Leader Pelosi: House Dems Will Vote Against GOP Bill
–Issue Over Two-Step Debt Hike Is ‘Big Thing’ To Resolve
–White House Has ‘Very Strong Role To Play’

By John Shaw

WASHINGTON (MNI) – House Minority Leader Nancy Pelosi said Thursday
that she hopes bipartisan debt limit talks will resume after the House
votes on the Republican debt ceiling plan this evening.

The House vote on the Republican debt hike plan is expected between
5:45 p.m. and 6:15 p.m. Thursday.

At a briefing, Pelosi offered a scathing assessment of the House
Republican debt ceiling plan, calling it a draconian “ideological
document” that would be a “job killer” for the American economy.

Pelosi said Boehner will have to get all the votes to pass the bill
from his fellow Republicans.

This means that Boehner can afford to lose only 23 of his 240
Republicans if all members vote and all Democrats oppose his bill.

Pelosi said she is hopeful that congressional leaders and the
White House will “go back to the table” and negotiate a final debt
ceiling and deficit reduction agreement after Thursday’s vote.

Pelosi said the final package will require heavy input from the
White House, adding that “they have a very strong role to play” given
President Obama’s veto pen.

Pelosi disputed the view of some that the plans by House Speaker
John Boehner and Senate Majority Leader Harry Reid can be easily
turned into a compromise package.

She said the issue of passing a debt ceiling increase until 2013 as
Reid plan does, or requiring votes this summer and next year, as
Boehner’s plan calls for, is “a big thing” that needs to be negotiated.

Pelosi said that “hopefully” it will not take a dramatic meltdown
in the financial markets to force Congress to pass legislation
to increase the debt ceiling.

The U.S. has already reached its $14.29 trillion debt ceiling.
Treasury Secretary Tim Geithner has said that Congress must pass
legislation increasing the debt ceiling by August 2.

** Market News International Washington Bureau: (202) 371-2121 **

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