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Posted on 07/19/2011 12:33:18 PM PDT by bobsunshine
President Obama joined Democratic and Republican senators Tuesday in offering support for a $3.7 trillion deficit-reduction plan announced Tuesday morning by the five remaining members of the Gang of Six.
Sen. Tom Coburn (R-Okla.), who pulled out of the Gang of Six in May, also rejoined the group and praised the plan as something that could win the 60 votes needed to pass the Senate.
“The plan has moved significantly, and it’s where we need to be — and it’s a start,” Coburn said. “This doesn’t solve our problems, but it creates the way forward where we can solve our problems.”
(snip)
According to an executive summary, the Gang of Six plan would stabilize the debt by 2014 and reduce publicly held debt to 70 percent of gross domestic product by 2021.
It would involve two separate bills, one implementing $500 billion in immediate deficit cuts and another implementing larger reforms. Conrad said that he has held off marking up a budget in committee to use the normal budget process to move the Gang of Six plan.
On entitlements, the plan would fully pay for the Medicare “doc fix” over 10 years, allowing doctors to avoid a drastic cut in Medicare payments under the law which is regularly avoided but never paid for.
(Excerpt) Read more at thehill.com ...
Couldn't agree more.
Only a fool would believe that.
The only budget cuts that are valid are those contained in any current year budget.
To repeat, the only budget cuts that are valid are those contained in any current year budget.
One of the keys to lessening the power of the arrogant elitists in DC is the repeal of the 17th Amendment.
Or to try to spook the herd and start a stampede. And with the gutless wonders we’ve got up on the Hill, it wouldn’t be hard.
Coburn would fund elimination of the Alternative Minimum Tax paid for by wealthy California and New York Democrats by raising taxes on the middle class and upper middle class by eliminating the home mortgage deduction and even reduce what we can save for our retirement.
Coburn has now assumed the classification of Devil in my book.
The GOP thinks it is open season on their feet.
And what, did he back his own plan for almost a whole hour?
Washington DC has happened to him. He was once a staunch conservative who has been moving more to the left the longer he stays in the inside-the-beltway echo chamber.
cut should not be capitalized.
If the GOP hands Obama a victory on the budget issue and doesn't block any increases in taxes, he will use this as a lever against us in 2012. Obama is a consummate politician and slickster. Most of the GOP characters facing him in congress are putty in his hands.
Look at that bill to stop the idiotic Light Bulb mandate. Where did THAT go? If they couldn't succeed in preventing the Government from mandating highly expensive, DANGEROUS light bulbs, which would HAVE to be manufactured in China due to the high degree of hand labor involved, WHAT GOOD are they?
We need MORE Tea Party candidates in Congress. Coburn and McConnell should be targeted and politically destroyed by the Tea Party.
What happened to him?
$$$$$$$$$$
blackmail
both?
These three are either frauds, idiots or damned fools. This proposal will help continue our economic destruction.
Colburn = GOP = Gutless Old Pussy
We. Are. Doomed.
“It would involve two separate bills, one implementing $500 billion in immediate deficit cuts and another implementing larger reforms.”
The only reason for 2 separate bills is because there will be no real cuts and there will be no real “reforms”.
I had always thought that Coburn was one of our best; now Washington has turned him into a national disgrace. How in the hell can he support the bankrupting of generations? This deal sucks, and you don’t need to be a doctor like Coburn to see that the patient will soon be a corpse. Bob
This congress has no say over what the next five congresses do. They’ve just got bolder in pushing the shell game farther out into the future.
The U.S. National debt stands, at this very minute, at $14,515,520,000,000. (and rising by the second)
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