Himes, Blumenthal, Lieberman Back Debt Ceiling Compromise [Update]

Update, 2:35 p.m.:

Connecticut senators Joseph Lieberman and Richard Blumenthal both voted to approve the debt ceiling compromise bill Tuesday afternoon, as the Senate passed the measure by a 74-26 vote.

Backing the bill were 45 Democrats, 28 Republicans, and one independent, with 6 Democrats, 19 Republicans, and one independent opposed.

"While this bipartisan agreement was far from perfect, I voted in favor of it because the economic consequences of default were too dire and devastating to risk," Blumenthal said in a statement.

"This compromise has made record cuts in spending while protecting benefits that seniors receive through Social Security and Medicare, and preserving veterans' services and programs. ... Now, we must return our focus to our number one priority — creating jobs and spurring economic growth," he added.

Update, 11:17 a.m.: 

"I’m supporting the debt ceiling compromise proposal because its positives outweigh its negatives," Sen. Joseph Lieberman tweeted Tuesday morning.

"However, we must do more to address entitlement programs which are the real drivers of our [national] debt," he added, stating that he and Oklahoma Sen. Tom Coburn would send a Medicare reform proposal to the joint committee envisioned by the bill.

Original article:

Despite what he described as "painful" cuts contained in the bill, Rep. Jim Himes of Cos Cob cast a vote Monday evening in favor of the debt ceiling compromise reached by President Obama and congressional leaders over the weekend.

Himes was one of 95 House Democrats to back the Budget Control Act of 2011, which passed by a vote of 269-161. The bill would enact a series of significant spending cuts in return for stepped debt ceiling increases, staving off a looming — and potentially devastating — default by the U.S. government.

"The cuts in this bill will be painful, but the bill protects critical programs that support education and our neediest citizens," Himes said in a statement Monday.

"Most importantly, we have removed the calamitous specter of a default that would have devastated our economy and hurt every American family and business," Himes said. "We also removed both the threat of another absurd and dangerous debt ceiling fight, and deflected the House majority’s attack on Medicare and Medicaid."

Of the state's House delegation — all Democrats — only Rep. Joe Courtney (CT-3) joined Himes in backing the bill. Rep. Rosa DeLauro (CT-3), Rep. John Larson (CT-1), and Rep. Chis Murphy (CT-5) voted against the measure, along with 92 other Democrats and 66 Republicans.

Specifically, the bill calls for $917 billion in spending reductions over the next decade — $21 billion of which would be carried out in 2012 — and the formation of a bipartisan joint committee tasked with identifying $1.2 to $1.5 trillion in additional cuts and/or revenue by Nov. 23.

The committee's proposal would then be subject to an up-or-down vote by both chambers before Dec. 23, with no possibility for amendments or a Senate filibuster. 

If Congress fails to approve the measure — or if the committee can't reach an agreement — automatic across-the-board spending cuts would go into effect, many of them coming from national security expenditures and reimbursements to Medicare providers.

In return, the debt ceiling would be immediately raised by $400 billion, followed by a second stage of $500 billion and a third stage of $1.2 to $1.5 trillion. Under the terms of the bill, Congress could still vote to block the latter increases, but a veto by President Obama would almost certainly ensure that they enter into force.

The bill now moves to the Senate, where it is widely expected to pass on Tuesday before being signed into law.

According to the Connecticut Mirror, Sen. Richard Blumenthal said Tuesday that he was "inclined to support" the agreement but that he had questions about potential defense cuts contained in the bill.

Sen. Joseph Lieberman said he was undecided on the bill, the Mirror reported, and that he had similar concerns about defense spending.