Posted on 07/19/2011 11:16:24 AM PDT by Red Badger
WASHINGTON (AP) -- Time running short to raise the government's borrowing limit, President Barack Obama on Tuesday hailed a plan by a bipartisan senators' group on deficit reduction as the kind of "balanced approach" the nation is looking for. He said it's time for Congress as a whole to rally around such a proposal.
"We don't have any more time to engage in symbolic gestures, we don't have any more time to posture. It's time to get down to the business of actually solving this problem," the president said.
Obama spoke even as House Republicans pushed toward a vote on legislation that would require trillions in spending cuts and a balanced-budget constitutional amendment in exchange for an increase in the debt ceiling. That plan is unlikely to get through the Senate, and Obama has said he would veto it.
Facing an Aug. 2 deadline to raise the debt limit, Obama said he would call House Speaker John Boehner after the vote to invited him and other leaders back to the White House for meetings in coming days.
(Excerpt) Read more at hosted.ap.org ...
>>> “...74 percent of the plan’s deficit-reduction goal would come from spending cuts and 26 percent from higher revenues.”
Why is it every time the proposed cut coming from the next 10 years and higher revenues (wink wink tax hikes) immediately going into effect?
Why can’t it be the other way around?
"A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences."
Of course the lefts house of cards is going to fall. Every socialist society has failed.
You certainly seem sufficiently firm in your position to be able to explain the details.
Would you please?
he says everyone is childish but him only because they won’t give him what he wants, more money, sounds like the most childish point of view to me..what a POS..
Coburn: Hopes for Former Gang of Six Plan
The proposal includes $1 trillion in new revenue, but like Senate Budget Chairman Kent Conrad’s budget proposal, it would be scored as cutting taxes because it would end expensive annual fixes to the Alternative Minimum Tax, senators involved in the discussions said.
It includes an immediate $500 billion in spending cuts that could function as a stand-alone proposal, backers added.
“The plan has moved significantly, and it’s where we need to be,” said Sen. Tom Coburn, R-Okla., a one-time member of the Gang of Six who walked out of the group’s talks this spring.
Coburn said the proposal could reach the key threshold of 60 votes in the Senate. Other senators were more circumspect, with Sen. Michael Bennet, D-Colo. , saying a “large number of senators are prepared to move on a comprehensive plan.”
But the proposal is not yet legislation, or public, and with both Senate leadership offices cool to it as they work to craft their own fallback bill, and the House likely to oppose the taxes included in the proposal, it remains a longshot for immediate action.
Coburn indicated he had rejoined the gang.
http://nationaljournal.com/congress/coburn-hopes-for-former-gang-of-six-plan-alive-20110719
If this deal passes the Senate it will pass in the House. Democrats will support it in the House and so will the progressive republicans. But it might just give rise to a third party since the GOP can not be counted on to defend small constitutional government. So some good might just come of all this.
“We’ve gone from a Gang of Six to a mob of 50,” exulted Sen. Joe Manchin (D-W. Va.), as he emerged from the meeting. The proposal, Manchin said, “shows great promise.”
“I will support it. It is a fair compromise,” added Sen. Kay Bailey Hutchison (R-Tex.). “This is a way forward where we can do the work that we have come here to do.”
Details of the plan were sketchy and it was not immediately clear how the proposal might be combined with existing debt-limit strategies. As described by its creators, the framework calls for $500 billion in immediate spending cuts as a downpayment on a broader debt-reduction effort that would be carried out largely by existing legislative committees.
These are a ‘special breed’ of RINOs, I hereby dub the BOHICA RINOS...........................
Gang of Six plan punts on key details
The Gang of Six plan unveiled to senators on Tuesday punts on key details, including exactly how it would reform Social Security and Medicare, according to a detailed outline obtained by The Hill.
The plan adopts a two-track approach: a $500 billion down payment and a later reform bill generating an additional $3.2 trillion in deficit reduction. That later bill is largely left up to committees of jurisdiction, and they are only required to meet specific savings targets.
On healthcare entitlements, the plan would seek to hold the growth of spending to GDP plus 1 percent per beneficiary, but it largely leaves it up to committees to decide how to achieve the savings.
The plan would be held at the Senate desk until a Social Security fix is found, and if that fix does not get the 60 votes required, the rest of the deficit plan is voided. The reform must ensure 75 years of solvency for Social Security, according to the Gang of Six, but how to achieve that is left up to the Finance Committee. If Finance cannot agree, a group of 10 senators — five from each party — can bring a reform bill to the floor.
The plan...
http://thehill.com/images/stories/gangofsix_plan.pdf
Can you sight a source for Bush buying that land in Paraguay?
He has no plan of his own. He's passing the buck. He'll be praised by the liberal press no matter which side wins. He's never done anything on his own. He just likes taking the credit when someone else does something right.
No. He likes the plan because his name doesn’t go on it. Actually, no ones name goes on it. That’s why it is good.
Well, sucks for us.
.....and he was a CONSTITUTIONAL SCHOLAR!.....................or so they say......................Smartest man ever to be President........or so they say.............57 states...............
Well, I don’t know. I think he is just naive. I worked on his campaign the first time around, and he just doesn’t seem that politically savvy to me. He may honestly believe that the spending cuts will happen. I am tempted to send him a t-shirt with the Peanuts cartoon of Lucy pulling the football away at the last minute.
Wikipedia has already updated it article on the GANG OF SIX to reflect this afternoon’s developments....a pipeline from the White House.
Makes me want to PUKE!
Republicans never learn.
What kind of “devious connections with Obama’s past”?
You left out our guns.
But good luck with that one.
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