Nonsense. Boehner's gotten exactly what he wanted. Cuts equal to the debt ceiling with NO tax hikes.
PLUS he's also apparently getting 1) a vote on the balanced budget amendment and
2) continuing discussion on cuts in an election year which Obama did not want.
So what exactly is Obama getting? Nothing.
No.
Cuts to be determined in the future are NO BUDGET CUTS, period.
The debt ceiling is raised, which means the Democrats win!
Once again, the Republicans have snatched victory from the jaws of defeat!
He'll bring out his little pen and put it all to rest...that's what he did and will do again...
So you’re saying this is what Boehner wants?
“...Senate Majority Leader Harry Reid is devising a sham that will never pass muster in the House. A Capitol Hill source with knowledge of the plan tells me: “It includes $1.2 trillion in OCO [Overseas Contingency Operations] savings . . . which was assumed anyway, $1.2 trillion (over $1.1 trillion less than [Majority Leader Eric] Cantor identified in the Biden talks) and $300 billion in interest savings.” A Senate aide says dryly that Reid “has about a trillion in ‘savings’ from ending the war in Iraq that’s already going to end.” And a disgusted House adviser bluntly tells me that Reid’s plan “isn’t real.”
Per Jennifer Rubin, at WAPO
http://www.freerepublic.com/focus/f-news/2753624/posts
GREAT POINT!
Also, the bigger cuts which will come in an election year will involve fixing entitlements. Once the rate of growth in entitlements is brought under control the scare tactics of the Rats that Pubs want to destroy Social Security and Medicare are gone. What do the Rats have left to run on in 2012, obama's leadership, obama's economy?
“Nonsense. Boehner’s gotten exactly what he wanted. Cuts equal to the debt ceiling with NO tax hikes.”
It would have to be $1.299 trillion (not $1.1 trillion) for the cut to be equal to a $1.0 trillion debt ceiling increase.
U.S. ten year Treasury note is, 2.99% interest per year. For every $1 trillion borrowed a total of $299 billion in interest is owed.