What the final deal is likely to look like (Hybrid of Boehner/Reid/ McConnell plans)

Washington Post ^ | 07/28/2011 | Ezra Klein

[Qbert]

[Snip]

The smart money in Washington continues to be on some hybrid of the Boehner/Reid/McConnell plans. If I had to place a bet now, I’d say the final deal looks something like this:

Cuts: $1.2 trillion in discretionary spending cuts, with somewhat more of the total falling on defense spending than in Boehner’s bill and somewhat less of the total falling on defense spending than in Reid’s bill.

Committee: The bipartisan “Supercommittee” will be formed and charged with developing a plan that cuts the deficit by $1.8 trillion or more. Unlike in Boehner’s plan, future debt-ceiling increases will not require passage of the committee’s plan. But unlike in Reid’s plan, there will be a “trigger” mechanism that begins making automatic, across-the-board cuts if their plan — or some variant — isn’t adopted.

Debt ceiling: The debt ceiling will be raised by $1 trillion upon passage of the plan. Further increases will be done through the McConnell mechanism: The president will essentially be able to raise the debt ceiling on his own, but Congress will be able to issue resolutions of disapproval if and when he does so.

Wild cards: Boehner’s plan requires a future vote on a balanced budget amendment. I’d expect that will be part of the final deal.

[unkus]

My God, what a disasterous mess. They’re just trying to delay the collapse. IMO

[tlb]

Sounds like a safe bet. People who expect otherwise seem to not register that the dems control the senate and the presidency.

[Brandonmark]

What the final deal is likely to look like

It will be more of the same old crap: Higher spending authority now...reductions in spending in 10 years! I say NO!

[WVNan]

That plan would be the final nail in the traitor’s takeover as dictator. Congress will be able to issue a “resolution”? That would not stop anything. I don’t like the sound of that plan. I say let the default happen.

[Cementjungle]

The president will essentially be able to raise the debt ceiling on his own, but Congress will be able to issue resolutions of disapproval if and when he does so.

Well, gee... that should solve all our problems.

[pfflier]

Those idiots are bellyaching about how old people children and veterans will lose out. No one on either side has said anything about taking away that damn shrimp treadmill.

They have no grip on reality.

[edpc]

Here's what I said on Monday in another thread, post 25.

I take no pleasure in being correct, if it turns out I am.

Doesn’t matter what Boehner says or does on TV or the House floor. Re-read your own second paragraph. Nothing is going to go through without clearing the Senate. The previous Congress didn’t pass a budget so they wouldn’t hand over a campaign issue. The WH and current group of Leftist remnants in Congress wants the market volatility to blame the right, then use it as their own issue in 2012. If a deal is made, we’re going to end up with something everyone hates....as usual.

http://www.freerepublic.com/focus/f-news/2753452/posts

[Huck]

As if that makes a difference. The debt limit went nowhere but UP when the GOP controlled the whole store.

[grey_whiskers]

Look at the lower right.

Source: Tom Weller's Hugo Award winning Science Made Stupid.

[org.whodat]

Idiot boner, all that committee will do is start beating the republicans over the head about refusing to tax the rich. Starting about april, that will be the chant and Reid will force vote after vote on the issue, they will scream look at all this debt boner has added to the country and they refuse to make the rich pay their fair share. The democraps set a big snare and boner ran his head right in it.

[DBrow]

A committee to decide future cuts? ha ha ha ha ha

We’ll get a raised debt limit, serious defense cuts, increased taxes, and more social spending*, theft, and graft.

*More people on welfare, WIC, Food Stamps, SS, SSI....

[Jim Robinson]

Horse hockey!! Do not pass any of this garbage!! Do not cede power to Obama and the democrats!!

The Republican House controls the purse strings!!

When the time comes, the congress should dole out just enough to avoid default, but otherwise HOLD THE LINE!!

[The Bronze Titan]

This is the Tea Party's 'SAMSON' moment...

[Qbert]

“Horse hockey!! Do not pass any of this garbage!! Do not cede power to Obama and the democrats!!”

Dittos.

[snowrip]

What the final deal is likely to look like

Tiny cuts far outpaced by annual increases, fewer tax deductions, and no real reform.

Meh. Bring on the collapse. I've had enough of this crap.

[DBrow]

This is just fantastic, a SUPERcommittee and the power to issue strongly worded memos when the president spends ten trillion instead of one.

My broker, on his last day, suggested that I invest in storable food, antibiotics, and ammo. I’ll add sandbags to that list.

[Praxeologue]

Any budget cuts agreed to between Reid and Boehner, or by the proposed 50/50 commission, will be illusory: merely accounting tricks. This is the way Congress has operated for fifty years. The political game being played is whether Obama will need to return cap-in-hand for another installment before the election. This is all sordid same-old, same-old.

The only benefit to the taxpayer that could come of this, would be a balanced budget amendment. It would have the bi-partisan support necessary to achieve 2/3rds majorities in both the House and the Senate. Once ratified, conservatives and liberals would wrestle over whether to cut expenses or raise taxes. With the right leadership, conservatives would win that battle.

The deal would be giving Obama the cash needed until next November, conditional on a BBA passing both Houses.

[Qbert]

“My God, what a disasterous mess.”

It’s a Frankenstein bill.

[Qbert]

The BBA inclusion would just be window dressing here to try to make it look appealing to Conservatives.