...which would help to explain why Cantor is resorting to the empty gesture of putting a BBA up for a vote. Sounds like they’re calculating that in 2012 they’ll not only win but pick up seats by default. But why bother?
If there is a $2 trillion deal of spending cuts, we need an immediate downpayment of $500 billion in FY 12 alone. This will change the baseline for every year beyond. The House GOP understands that the spending cut for FY 12 must be huge, and must be guaranteed.
Unfortunately, that SOB Bernanke gave the RATS their talking point yesterday by claiming that spending cuts in FY 12 would be neutral to negative for job creation. POS.
Here is the biggest concern: if there is no debt limit increase, BamBam is going to withhold social security checks beginning in August and blame the GOP. Anybody have a sense of how this could be preempted, and how it would play out?