Posted on 05/05/2011 9:54:14 AM PDT by bestintxas
GOP leaders and the White House are discussing a deal that would enact strict deficit targets and some spending cuts to win Republican votes for lifting the ceiling on how much the federal government can borrow.
The deal would defer contentious decisions about Medicare, Medicaid and taxes until after the 2012 elections. If such an agreement were reached, it would allow both sides to assure financial markets and the public of their commitment to reducing the deficit and then use next year's campaign to lay out their competing visions for the future of major government programs.
"We're not going to get a grand slam agreement. We're not going to get a big, comprehensive agreement, because of the political parameters," Rep. Paul Ryan, the Wisconsin Republican who chairs the House Budget Committee told reporters Wednesday. "My hope at this moment is to get a single or a double."
.Mr. Ryan's outline is strikingly similar to those administration officials have been using privately, an indication that any compromise is likely to include the elements he described:
• Cuts or mandated limits on government spending programs that must be approved each year, such as for defense programs and regulatory agencies. This type of expense accounts for 39% of current federal spending.
(Excerpt) Read more at online.wsj.com ...
Too many people will pass on them in next election and go for the 3rd party Tea Party candidate.
I wote my congressional representative today JOhn Culberson and told him the GOP is lost if they raise the credit card limit.
WE NEED A TEA PARTY MARCH ON GOP HEADQUARTERS~!!!
I believe that the current effort to address the deficit/debt is happening because the Treasury Dept and Fed know they can’t initiate another round of quantitative easing and the Treasury can’t sell the bonds to fund the deficit. Thats also why oil prices and stock prices are falling today.
If thats the case, we can count on a 2012 budget deal to be consumated by the end of June (when QE2 comes to an end).
Also, look for significant tax increases in the name of deficit reduction.
Republican Party: an defunct American political party which voted itself out of existence in 2011.
The DEMS lie, cheat and steal. Obama only using federal election funds....lie. How could you even trust or make a deal with these people? Agree....a march on GOP headquarters is needed. Where and when? I’ll be there.
Fundamental rule in business negotiations (which I do professionally): Targets aren’t even promises. They are “feel good” goals. You don’t trade something real for promises or feelings. You trade feelings for feelings; promises for promises; performance for performance. Do otherwise and you’re asking to get cheated.
Typical of majority democrat rule in the Senate they intend to plop their “PLAN” on the laps of the minority with no time for challenge or ammendments, contrary to the generosity of House Republicans with their own plan. Same marxist stripes, same marxist playbook. As per Jeff Sessions, arguing for weeks for a fair hearing and debate for the entire Senate, he remains fighting a majority willing to throw over senate debate and hearing in favor of ramming down our throats more chaos.
This is the stuff campaigns should be made of, protesting loud and clear the same old crap that November fixed! Instead, our illustrious wannabes are all crickits.
Typical of majority democrat rule in the Senate they intend to plop their “PLAN” on the laps of the minority with no time for challenge or ammendments, contrary to the generosity of House Republicans with their own plan. Same marxist stripes, same marxist playbook. As per Jeff Sessions, arguing for weeks for a fair hearing and debate for the entire Senate, he remains fighting a majority willing to throw over senate debate and hearing in favor of ramming down our throats more chaos.
This is the stuff campaigns should be made of, protesting loud and clear the same old crap that November fixed! Instead, our illustrious wannabes are all crickits.
Make no mistake the Repubs are gonna raise the debt ceiling. Bet every dime you own on that. Just as there will be a QE3, 4, 5... There is no way out now without default and no one wants that on their watch so just keep kicking the can down the road. The only question in my mind is; when do we run out of road?
Just fired off another e mail on this subject to my rep Ander Crenshaw.
Told him, any deal that kicks the can down the street till after the election guarantees another 4 years for (o)bama. Furthermore, the GOP people will be removed by those supported by the tea party, again or for the first time in his case.
Targets are exactly what you say they are, they are nothing by feel good concepts. The rubber meets the road with solid positions on key issues and arguing the middle ground.
The GOP collectively has no STREET BRAINS
You can’t make a deal with a Marxist criminal thug.
I do not agree there will be tax increases in the name of deficit reduction.
I think they will kick the can down the road. There will be some budget cuts, but mainly it will be “targets” with “triggers” so people can take to the microphones and claim huge savings and fiscal responsibility. The truth will be that this is going to come to a head in 2013 one way or the other.
If Obama is re-elected, then the taxes will be massive. everything turns on the 2012 elections.
If they go along with it... a third party will emerge... and I will change form R to T.
I’ve been very pessimistic lately when I hear talk of how the GOP’s going to take back the Senate and hold the House majority in ‘12. The November victories are quickly steamrolling into more of the ‘same old, same old’. I’m not impressed with the House leadership, and it’s hard to see any sustained momentum going into ‘12, unless a strong GOP Presidential candidate emerges.
I think they will kick the can down the road. There will be some budget cuts, but mainly it will be “targets” with “triggers” so people can take to the microphones and claim huge savings and fiscal responsibility. The truth will be that this is going to come to a head in 2013 one way or the other.
SJ, if there is no QE3 then the Treasury will not be able to sell all of the T-bonds without interest rates going through the roof. I don't think they will be able to 'kick the can down the road' because of the higher interest rates that would result. My bet is tax increases are on the way, but there might be some spending cuts to go along with them.
I think they are going to do another “automatic” or “stealth” tax increase.
The politicians are no longer listening to the voters.
the gang of three RINOs definitly so.
LLS
He wasted a trillion dollars with nothing to show for it..........he cannot have another trillion to buy his re-election.
JUST SAY NO NO NO NO
Mr. Ryan’s outline is strikingly similar to those administration officials have been using privately, an indication that any compromise is likely to include the elements he described:
• Cuts or mandated limits on government spending programs that must be approved each year, such as for defense programs and regulatory agencies. This type of expense accounts for 39% of current federal spending.
• Cuts or limits on so-called mandatory spending, such expenses for farm subsidies, food stamps, federal employee retirement, student loans and housing subsidies that don’t require yearly appropriations. Mr. Ryan suggested a deal could exclude, for now, the biggest of these expenses: Medicare and Medicaid health insurance programs and Social Security.
• Targets that would aim to bring the deficit below 3% of gross domestic product by 2015, a goal that would require more spending cuts or tax increases than the legislated cuts would achieve.
• To enforce the targets, automatic and credible spending cuts would be required if the Congressional Budget Office says policies in place won’t meet those goals; the administration wants both automatic spending cuts and tax increases
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