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To: kristinn
Step one would cut $1.1 trillion in spending...

Over what time period? Is this the "over 10 years" nonsense or NOW?

...with a $1 trillion increase in the debt that would get the government to April 2012 with no tax increases.

Effective immediately, no doubt.

The next tier would be recommended cuts by a joint House-Senate committee made by twelve members, six from each chamber...

Oh, good, another committee. What was it, 17 prior committees that have done this very thing with the result being higher taxes and higher spending? Color me unimpressed.

128 posted on 07/25/2011 11:02:05 AM PDT by Future Snake Eater (Don't stop. Keep moving!)
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To: Future Snake Eater

IMF urges swift lifting of US debt limit

AFP - Veronica Smith - 30 minutes ago

WASHINGTON — The International Monetary Fund on Monday warned the United States to lift its debt ceiling swiftly for the sake of the US and global economy. ...


161 posted on 07/25/2011 11:17:38 AM PDT by kcvl
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