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GOP House Will Vote on Balanced Budget Amendment That Permits Unlimited Federal Spending
CNS News ^ | November 15th, 2011 | Matt Cover

Posted on 11/16/2011 7:14:11 AM PST by AnAmericanAbroad

House Republicans are set to vote later this week on a balanced budget amendment (BBA) that would not cap federal spending as a percentage of GDP or require a supermajority to raise taxes.

Majority Leader Eric Cantor (R-Va.) said the vote would probably take place this Friday.

Cantor said that this version of a BBA, H.J. Res 2 -- rather than one that would cap federal spending, H.J. Res 1 -- was the version “overwhelmingly” favored by House Republicans.

(Excerpt) Read more at cnsnews.com ...


TOPICS: Business/Economy; Front Page News; Government; Politics/Elections
KEYWORDS: balancedbudget; congress; gop; spending
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It's days like this that make me happy I invested in Unilever. You know, the folks who make Vaseline.

Color me cynical, but I can't say I'm shocked by this.

1 posted on 11/16/2011 7:14:13 AM PST by AnAmericanAbroad
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To: AnAmericanAbroad

Al I can say is we are witnessing the greatest failure of leadership in our nation’s history, at all levels of government. Corporate stewardship is not much better.


2 posted on 11/16/2011 7:18:30 AM PST by SoCal Pubbie
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To: AnAmericanAbroad
The BBA is a ruse.

It's all accounting gimmicks. It's the spending, not the bookkeeping.

3 posted on 11/16/2011 7:18:40 AM PST by Texas Eagle (If it wasn't for double-standards, Liberals would have no standards at all -- Texas Eagle)
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To: AnAmericanAbroad

We need a balance budget amendment to the US Constitution, but given the way Obama and now Congress with their Super Committee BS the Constitution is about gone and it wouldn’t mean much.


4 posted on 11/16/2011 7:18:52 AM PST by The Great RJ ("The problem with socialism is that pretty soon you run out of other people's money" M. Thatcher)
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To: AnAmericanAbroad
I don't have a problem with this.

I'd rather see some amendment requiring a balanced budget. We can deal with the spending level issue later.

I think it would be best to propose two amendments: one that requires a balanced budget, and another to cap the spending at something like 20% (which is what the tax level has been for decades, despite various changes).

Let the states decide whether to ratify one or the other, or both. You might be surprised at the outcome.

5 posted on 11/16/2011 7:21:05 AM PST by justlurking (The only remedy for a bad guy with a gun is a good WOMAN (Sgt. Kimberly Munley) with a gun)
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To: AnAmericanAbroad

Wow ! Cantor? Really?

THROW THEM ALL OUT !


6 posted on 11/16/2011 7:21:14 AM PST by Reagan69 (I supported Sarah Palin and all I got was a lousy DVD !)
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To: AnAmericanAbroad

that headline made my head explode.


7 posted on 11/16/2011 7:22:09 AM PST by stylin19a (obama - "FREDO" smart)
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To: AnAmericanAbroad
It stories like this that make we wonder why any Conservative should trust ANY of the professional politicians running for office in 2012?

No matter what they say on the campaign trail, the professional GOP Establishment politicians all go to DC and turn into Democrat lite.

8 posted on 11/16/2011 7:25:03 AM PST by MNJohnnie (Giving more money to DC to fix the Debt is like giving free drugs to addicts think it will cure them)
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To: Texas Eagle

If I read it correctly, this would justify sharp tax increases without any party being responsible.


9 posted on 11/16/2011 7:27:18 AM PST by greatvikingone
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To: justlurking

Cap spending at 5%.

The whole BBA exercise is a farce, and tax revenues historically don’t exceed 18%, which is far too much to give the swine in D.C.


10 posted on 11/16/2011 7:28:15 AM PST by achilles2000 ("I'll agree to save the whales as long as we can deport the liberals")
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To: greatvikingone
If I read it correctly, this would justify sharp tax increases without any party being responsible.

Ah. No fingerprints. Your tax dollars at work.

11 posted on 11/16/2011 7:28:30 AM PST by Texas Eagle (If it wasn't for double-standards, Liberals would have no standards at all -- Texas Eagle)
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To: AnAmericanAbroad

big whoopie flip.CRAct amendments and Dodd/Frank bills need deleted. and ALL senate and congress 75% pay cut no raises and no insider trading,immediate cut on all pages,staf,no more vacations until the budget is balanced.


12 posted on 11/16/2011 7:30:45 AM PST by Dubya-M-DeesWent2SyriaStupid!
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To: AnAmericanAbroad

Just confirming that my favorite Liberal Pat Cadell is right when he calls the GOP “the stupid party”.


13 posted on 11/16/2011 7:31:41 AM PST by Vigilanteman (Obama: Fake black man. Fake Messiah. Fake American. How many fakes can you fit in one Zer0?)
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To: Reagan69

If only I had Like Button....

“Like”


14 posted on 11/16/2011 7:31:45 AM PST by conservative_cyclist (doodan, (God gave me a Savior, I am looking for a president))
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To: AnAmericanAbroad

I don’t mind them voting on it as long as they vote NAY.


15 posted on 11/16/2011 7:31:51 AM PST by Personal Responsibility (Obama 2012: Dozens of MSNBC viewers can't be wrong!)
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To: SoCal Pubbie

WHAT LEADERSHIP?

All meetings are done behind closed doors, special deals are made, they scratch one anothers back and then come out with statements like this, BS.

It shows more and more that it’s a club of back stabbers who care nothing about the tax payers until time for re-election.

There is one set of rules, passed by our elected theives, for themselves and another for set of rules for the rest of the American people.


16 posted on 11/16/2011 7:32:46 AM PST by chiefqc
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To: AnAmericanAbroad
A couple hundred of these on the National Mall would be a good start!


17 posted on 11/16/2011 7:32:52 AM PST by DTogo (High time to bring back the Sons of Liberty !!)
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To: achilles2000
and tax revenues historically don’t exceed 18%

It depends on what taxes you include.

This is all taxes: individual and corporate income, social insurance, and excise. Note that the tax rate has hovered just above 20%.

You can find graphs of average tax rate, by the type of tax, at: US Federal Taxes by Income Level. They were derived from data published by the Congressional Budget OFfice -- which is also archived on that page.

18 posted on 11/16/2011 7:33:01 AM PST by justlurking (The only remedy for a bad guy with a gun is a good WOMAN (Sgt. Kimberly Munley) with a gun)
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To: AnAmericanAbroad

The Federal Government does to us, what Jerry Sandusky did to those kids.


19 posted on 11/16/2011 7:33:04 AM PST by dfwgator (I stand with Herman Cain.)
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To: DTogo

Maybe the Libyans had the right idea.


20 posted on 11/16/2011 7:33:42 AM PST by dfwgator (I stand with Herman Cain.)
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