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“Revolt” over: House GOP leadership agrees to caucus’s demands to cut spending by $100 billion
Hot Air ^ | February 9, 2011 7:48 pm | Allahpundit

Posted on 02/09/2011 8:41:55 PM PST by Ernest_at_the_Beach

The “revolt” ends in triumph according to Roll Call, as quoted by K-Lo at the Corner:

House Republican leaders have agreed to a key conservative demand that they make good on their campaign pledge to reduce fiscal 2011 spending to $100 billion less than President Barack Obama’s budget request, GOP aides said Wednesday.

According to a GOP leadership aide, Majority Leader Eric Cantor (R-Va.) and other leaders are working with Republican appropriators, the Republican Study Committee and other conservatives on a “unified” strategy to reduce spending beyond the $74 billion in cuts they had already planned. The cuts, which would only apply to non-defense discretionary spending, would come as part of a continuing resolution to fund the government between March and the end of the fiscal year…

It remains unclear how Republicans will make the additional $26 billion in cuts.

Consider this a correction of my earlier post, where I said the GOP had initially proposed only $58 billion in cuts. If you’re wondering what the extra $26 billion means in practical terms, let’s bust out the calculator and do some math. Assuming CBO’s projected deficit this year of $1.5 trillion, i.e. $1,500 billion, we’re slipping $4.1 billion deeper into the budgetary hole every single day. Note well: That’s not federal spending per day, that’s what’s being added to the deficit per day. Cutting an extra $26 billion will thus erase a little less than … one week of new liabilities. That’s what the big “revolt” is over.

Via RCP, say it with me: The deficit is too damn high.


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


TOPICS: Government; News/Current Events; Politics/Elections
KEYWORDS: budgetcuts
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To: Ernest_at_the_Beach

When this bill passes the House, passes the Senate, passes reconciliation, and is signed into law by PResident Obama, the elite politicians in this country will have publically admitted the country is doomed to oblivion and there is no rescue possible before a complete collapse and possible dark ages or rebirth, depending upon the will and fortitude of a broken and destitute North American populace.

It’s all over folks, every single one of your(our) special interest payments from the governments’ largesse is going to be defaulted on, every military installation overseas will be withered away, every government bondholder left with nothing more than kindling, and every elite in society fighting like cannibals for the scraps of the empire.

The world economy is going to simultaneously revolt against the Federal Reserve status quo framework and substantially collapse... eventually... the timing can go on as bubbling through debt transfer payments are built upon prior bubbles, but within the Gen X lifetime the entire scheme collapses.

No one remembers the names of the last Senators and Generals of Late Rome....


21 posted on 02/09/2011 9:59:22 PM PST by JerseyHighlander (p.s. The word 'bloggers' is not in the freerepublic spellcheck dictionary?!)
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To: Ernest_at_the_Beach
Ok.. most House Republicans are RINOS.. much to be done..
To be done for the primarys..
22 posted on 02/09/2011 10:00:20 PM PST by hosepipe (This propaganda has been edited to include some fully orbed hyperbole....)
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To: Ernest_at_the_Beach

It we are to make substantial cuts, we’re going to need a budget cutting president in 2012 along with a larger number of aggressive legislators. And then we need to back them to the hilt! Camp out on the capital grounds if that need be.


23 posted on 02/09/2011 10:00:57 PM PST by upsdriver (to undo the damage the "intellectual elites" have done. . . . . Sarah Palin for President!)
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To: Ernest_at_the_Beach

$100 billion is a rounding error of the projected 2011 deficit.

The new congress is a fraud.


24 posted on 02/09/2011 10:03:26 PM PST by UnwashedPeasant (Don't nuke me, bro)
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To: Ernest_at_the_Beach; JerseyHighlander

If they agree to this they have just owned Obama’s deficit.

I agree with post #21. If they agree to this they have just admitted that there is no possibility of saving ourselves. We prefer economic collapse to making even the slightest cut. We are willing to admit that every dollar of Obama’s deficit is necessary except for that last couple of percent.

That was not the reason we sent these people to Washington, to help Obama justify his deficit or the help him govern. We sent them to turn this ship around and stop this president before he does any more damage.

Is it that hard to roll it back even to the out-of-control Bush deficit? Not asking for miracles here, even the Bush deficits are starting to look like Calvin Coolidge. And they can’t even do that.

Brilliant.


25 posted on 02/09/2011 10:10:44 PM PST by marron
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To: UnwashedPeasant

100 billion is 10% of what we need to do at the very least for now.

It is a start.

Or to channel Churchill...”Now this is not the end. It is not even the beginning of the end. but it is, perhaps, the end of the beginning.”

To channel me... the F’ckin fight is not won in a day.


26 posted on 02/09/2011 10:18:38 PM PST by Fantomw
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To: Ernest_at_the_Beach

$100 Billion is a small fraction of any given bailout.

We need TRILLIONS in cuts.


27 posted on 02/09/2011 10:28:27 PM PST by Uncle Miltie (0bamanomics: Punish Success, Reward Failure. Destroying America is the point.)
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To: Uncle Miltie
A $100 billion is peanuts, We need to be talking a minimum of $500 to $800 billion and the wholesale defunding of worthless, overlapping agencies and departments.
28 posted on 02/09/2011 11:56:45 PM PST by MasterGunner01 (To err is human; to forgive is not our policy. -- SEAL Team SIX)
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To: matthew fuller

Of course. EPA.

Demons from Mordor.


29 posted on 02/10/2011 3:16:51 AM PST by samtheman
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To: Captain Kirk

“Big savings are also in the Pentagon (mistakenly generalized as “defense spending). If we closed down those bases in 120 countries, we could make a tremendous savings. Unfortuately, Rand Paul has proposed the only plan which makes any cuts in the Pentagon.”

I always get a bit worried about pulling ourselves in and no longer being a world power. I realize the temptation, and it’s likely to happen anyway, but often the consequences are as nice as we may want (like World War 2 in the last century, or Japan developing nukes in this century).

I guess I just think differently than the Paul’s.


30 posted on 02/10/2011 4:43:34 AM PST by BobL (PLEASE READ: http://www.freerepublic.com/focus/f-news/2657811/posts)
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To: Reddy

“So you are advocating rewarding the lazy bums with retirement while the people who actually paid into the system get screwed. Thanks a lot.”

First off, it already does. The rules of the system are very highly skewed towards giving a MUCH HIGHER return to people that earn a relatively small amount of money, than people that earn a relatively large amount of money (and yes, I’m accounting for the wage cap)...so you’re already getting taken there.

Second, for the same reason it is skewed, I also don’t want to see old people starving in our streets, which I lot of people here don’t seem to mind.

Third, the MONEY IS GONE. The generations that paid into it already spent it - they spent it as it came in (plus about $12 trillion on top of that). Everyone knows it. They collectively chose to use SS to augment the income tax to fund all of their important projects - like public housing, education, PBS, Vietnam, windmills, putting people on the Moon...etc, without paying the taxes needed for it. I know, not everyone supported everything above, and I’m sure it’s likely that you didn’t support most of them - but collectively, through their elected officials, these generations chose to spend, rather than save their money.

So what happens now. If I have $250,000 in my IRA and Bank of New York Mellon (I get a kick out of their name), for some stupid reason, lets me borrow all of that money to fly around the world for a year, first class - I am OUT OF LUCK for retirement (unless I figure out a way to pay it back), because they sure as heck are not going to ask my neighbor to repay it for me.

So what you’re essentially doing is DEMANDING that my kids and my future grandkids pay for YOUR retirement because your generation chose to spend that money instead of save it. That may be fine with you, but I do have a problem with that. I don’t want my kids paying the price for GORGING of prior generations.


31 posted on 02/10/2011 4:57:16 AM PST by BobL (PLEASE READ: http://www.freerepublic.com/focus/f-news/2657811/posts)
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To: BobL

Well....IMHO it is just a return the original vision of the founders who scorned world empires, power politics, entangling alliances, and rejected militarism.


32 posted on 02/10/2011 7:50:59 AM PST by Captain Kirk (Q)
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To: BobL

Well....IMHO it is just a return the original vision of the founders who scorned world empires, power politics, entangling alliances, and rejected militarism.


33 posted on 02/10/2011 7:51:26 AM PST by Captain Kirk (Q)
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To: Ernest_at_the_Beach

TEA PARTY TAKING CHARGE AND CHARTING A NEW COURSE IN D.C.! WATCH OUT RINOS AND BLUE DOGS, YOU’LL SOON BE ON THE ENDANGERED SPECIES LIST!!!


34 posted on 02/10/2011 8:03:00 AM PST by Hotlanta Mike (TeaNami)
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To: Ernest_at_the_Beach

If they were proposing cutting $1 trillion of spending, then I’d be impressed. Cutting $100 billion is but a drop in the bucket.


35 posted on 02/10/2011 8:19:15 AM PST by meyer (We will not sit down and shut up.)
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To: Reddy
So you are advocating rewarding the lazy bums with retirement while the people who actually paid into the system get screwed.

There's a lot of supposedly conservative people on this very site advocating just that - the total disconnection of SS payouts with the amount that an individual paid in. We need LESS welfare (a LOT less) in this country, not more.

What needs to happen is that when people declare retirement, the SS system adds up all that you paid in (I'd say with interest, though I see that it will be a problem prying that from the government thugs) and uses it to buy that individual an annuity based on actuarial calculations and your accumulated "investment". People that paid $100,000 in should get a much bigger retirement supplement from SS than someone that paid only $5000 in. Likewise, someone retiring at 70 should get a lot more per month than someone retiring at 60.

36 posted on 02/10/2011 8:27:06 AM PST by meyer (We will not sit down and shut up.)
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To: BobL

Aha! I knew it! You are no where near retirement.

Here’s the point. SS was/is a program set up to forcibly take money from citizens to replace/augment retirement savings for individuals (because they are too stupid to do it themselves). In between its beginning and now congress spent the money that was supposed to be set aside in the system so that now the SS system is insolvent. This is theft. Congress should be prosecuted for this crime. Then make them repay the money.

I have 3 siblings. My family and 1 sibling and their family has tried to prepare for retirement by savings other than SS. But receiving SS has been included in our retirement prospectus because OUR MONEY WAS TAKEN FOR THIS. In the meantime, the other 2 siblings have not saved a dime. They have bought new cars, etc. (I’ve never had a new car (: ) Why should they be rewarded for not saving while we are penalized FOR SAVING. That is a typical liberal response....means test! Socialism at it’s finest.

Means testing of SS is not a conservative position.

Your


37 posted on 02/10/2011 10:45:46 AM PST by Reddy (B.O. stinks)
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To: meyer

Exactly.... there is no way that the government should get a free pass on this. Conservatives who endorse throwing up their hands and walking away from this issue and letting it become another give-away to the “poor” should have their heads examined.


38 posted on 02/10/2011 10:50:48 AM PST by Reddy (B.O. stinks)
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To: Ernest_at_the_Beach

Believe it...when I see it written into law...and read the details.


39 posted on 02/10/2011 11:20:54 AM PST by Osage Orange (MOLON LABE)
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To: Captain Kirk

“Well....IMHO it is just a return the original vision of the founders who scorned world empires, power politics, entangling alliances, and rejected militarism.”

If you’re into trying to “live off the land” and becoming another Albania or North Korea (economically speaking), more power to you. I prefer not to have our economy land on the ash heap of history, which is ALWAYS the case when a country thinks that they can go it alone.


40 posted on 02/10/2011 6:38:38 PM PST by BobL (PLEASE READ: http://www.freerepublic.com/focus/f-news/2657811/posts)
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