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 ...
Color me cynical, but I can't say I'm shocked by this.
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.
It's all accounting gimmicks. It's the spending, not the bookkeeping.
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.
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.
Wow ! Cantor? Really?
THROW THEM ALL OUT !
that headline made my head explode.
No matter what they say on the campaign trail, the professional GOP Establishment politicians all go to DC and turn into Democrat lite.
If I read it correctly, this would justify sharp tax increases without any party being responsible.
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.
Ah. No fingerprints. Your tax dollars at work.
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.
Just confirming that my favorite Liberal Pat Cadell is right when he calls the GOP “the stupid party”.
If only I had Like Button....
“Like”
I don’t mind them voting on it as long as they vote NAY.
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.
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.
The Federal Government does to us, what Jerry Sandusky did to those kids.
Maybe the Libyans had the right idea.
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