Posted on 07/25/2011 3:47:05 PM PDT by Qbert
President Obama backed a proposal by Senate Majority Leader Harry Reid to avert a debt-limit crisis by trimming $2.7 trillion of government spending without raising new taxes.
White House spokesman Jay Carney said in a statement that Reid's proposal was a "reasonable approach that should receive the support of both parties."
Obama, meanwhile, will address the nation at 9 p.m. EDT Monday about "avoiding default and the best approach to cutting deficits."
Reid's plan, unveiled Monday, does not include any new tax revenue, as President Obama has demanded. But unlike the GOP plan, it would extend the debt ceiling into 2013—an Obama ultimatum.
House Speaker John Boehner quickly dismissed the Reid plan as full of "gimmicks." Boehner said the plan failed to make any real changes in the government's spending and does not address the Medicare and Medicaid health programs for the elderly and poor or other benefit programs.
Republicans also are concerned that the cuts it contains would prove illusory, particularly $1 trillion or so in savings claimed by troop cuts in Iraq and Afghanistan over the coming decade. Reid countered that House Republicans claimed the same savings windfall when they passed their budget earlier this year.
(Excerpt) Read more at cnbc.com ...
If there is not at least >$300B in cuts in 2012, it’s totally bogus.
“Reid countered that House Republicans claimed the same savings windfall when they passed their budget earlier this year.”
Touche’
If this is the case then Reid should be proud of himself for stopping the potential fraud, not emulating it.
I wish the republicans would grow a pair and just let the government shut down on the O’s birthday imaculation.
It may not raise taxes, but it doesn’t cut spending in any real way, consisting mostly of Reid-scored defense cuts from wars that Obama is ending. Also, although it may not explicitly raise taxes, it doesn’t stop the expiration in 2013 of the Bush tax levels.
Touche’
Yep...that's what happens when you don't tell the truth about cuts in the budget...ain't that Right Mr. Speaker?
Your chickens will come home to roost.
“Obama, meanwhile, will address the nation at 9 p.m. EDT”
Another BOHICA speech...cripes.
Let me guess; the Reid plan allows Obama to continue his unprecedented deficit spending at a rate of $133 billion per month for the remainder. In return, Obama promises to cut spending beginning with year 2020. Does that sum up the Reid plan?
Then they will close all income tax loopholes and people will not be able to afford their homes because he will be sure to close the mortgage interest deduction. And already over regulated businesses will be seriously wounded! I trust this guy as much as I would trust a very hungry tiger in a shopping mall! Spending cuts are ignored? Hold tight, Boehner! In fact, let’s go back to Paul Ryan’s proposal!
“Another BOHICA speech...cripes.”
Get ready to hear it over and over: “My plan doesn’t raise taxes, and uh, it cuts ‘more than the Republicans plan’, blah, blah, blah”
“Also, although it may not explicitly raise taxes, it doesn’t stop the expiration in 2013 of the Bush tax levels.”
Good point.
Fees and insurance fines/premiums for Deathcare will not be stated as taxes. And taxes will not be identified as revenue ‘enhancements.’
http://blog.heritage.org/2011/07/25/conservatives-beware-the-boehner-plan-leads-to-tax-increases/
Conservatives Beware: The Boehner Plan Leads to Tax Increases
All he Marxist Kenyan cares about is a plan that extends past the 2012 elections. His only concern is to make sure his gravy train continues. PIGS!
Did anyone really expect a serious debt reduction proposal form Boehner and the GOP establishment. Come on.... let’s be realistic here.
“Fees and insurance fines/premiums for Deathcare will not be stated as taxes. And taxes will not be identified as revenue ‘enhancements.’”
And at the same time, the administration is trying to defend Obamacare in court claiming that it *is* a tax.
Ultimatum?
ULTIMATUM?
I hope Bohner sticks his foot up Barry's rear end!
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