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Debt Ceiling Deal Finally Reached, DeSean Jackson's Holdout to End, and Phillies Sweep Pirates

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The Omelette Monday August 1, 2011

Debt Ceiling Deal Finally Reached

Senator Harry Reid, House Speaker John Boehner, and President Obama finally reached a compromise on the never-ending debt ceiling battle on Sunday. Senator Reid says he will have enough votes for the bill to pass the Senate. Now, the question remains if House Speaker Boehner has enough votes for it to pass the Republican-controlled House.

At odds are the issues of "doing enough" or "not doing enough." Many Republicans don't feel the bill goes far enough. And, many Democrats are angry because there aren't any tax increases, which were promised by President Obama. Fact of the matter if Republicans would not go along with a bill, which called for tax increases so there had to be a compromise. 

All told, the bill calls for $2.5 trillion in cuts over 10 years and a debt ceiling increase between $2.1 and $2.4 trillion.  The Treasury's borrowing needs will be met until 2013 under the debt ceiling plan.  Domestic and defense spending would be capped immediately.

As of right now, entitlement programs will not be affected. According to President Obama, the result will be the lowest amount of domestic spending (adjusted for inflation) since Dwight Eisenhower's presidency.

The bill will need to pass and be signed into law by President Obama today or else they will face a possible default on the August 2nd deadline.

DeSean Jackson to End His Holdout This Week

Howard Eskin reported on NBC10's Sports Final on Sunday night that a few reputable sources within the Eagles organization expect DeSean Jackson to end his holdout and report to training camp this week.

Eagles officials have stated they are willing to negotiate with Jackson on a new contract, but they won't do so until he reports to camp.

Added to that, he must report by the end of camp or he will lose a year of service toward free agency.

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Since the Jets signed wide receiver Santonio Holmes to a 5-year $50 million with over $20 million in guarantees, it's expected that Jackson will receive similar money.

On a side note, the Eagles were said to be interested in free agent wideout Randy Moss, but he just announced his retirement today according to ESPN.

Phillies Sweep the Pirates With Comeback Victory

The Phillies completed a sweep of the Pirates on Sunday with a dramatic come-from-behind victory. The Pirates led the game nearly the whole way until the 8th inning when the Phillies tied it up 5-5 with a homerun by Raul Ibanez. Ibanez was the star of the day going 3-for-5 with 2 homeruns, and the game-winning RBI in the 11th inning.

New acquisition Hunter Pence went 2-for-4 yesterday in the 6-5 victory. The Phillies head to Colorado tonight to take on the Rockies. Gametime is 8:40. Cole Hamels will take the hill against Jhoulys Chacin.

Contact Dennis Bakay at dbakay@philly2philly.com

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