Posted on 07/31/2011 4:21:56 PM PDT by MinorityRepublican
By all accounts, it looks like a deal is about to be announced in which the debt ceiling is hiked in exchange for the promise of major spending cuts, including to entitlements, totalling at least $2.4 trillion.
Anything can happen, but it apppears the GOP is on the verge of pulling off a political victory that may be unprecedented in American history. Republicans may succeed in using the threat of a potential outcome that they themselves acknowledged would lead to national catastrophe as leverage to extract enormous concessions from Democrats, without giving up anything of any significance in return.
Not only that, but Republicans in perhaps the most remarkable example of political up-is-downism in recent memory cast their willingness to dangle the threat of national crisis as a brave and heroic effort theyd undertaken on behalf of the national interest. Only the threat of national crisis could force the immediate spending cuts supposedly necessary to prevent a far more epic crisis later.
Under the emerging deal, President Obama can hike the debt limit in two stages the first in exchange for equivalent cuts; the second after a Congressional committee comes up with second round of yet more cuts, including to entitlements. The talks appear close to resolving the spending cuttrigger that would force the committee to act without giving the GOP an incentive to deliberately sabotage its work. The remaining question is how to get it through the House. But a deal seems immiment.
Again and again, Dems drew lines in the sand that they promptly erased as the threat of default grew. A clean debt ceiling hike? Dropped. Cuts to Medicare benefits? Theyll likely be in that committees crosshairs. The insistence on revenue hikes? Withdrawn.
(Excerpt) Read more at washingtonpost.com ...
My God it is the same silly crap around here no matter WHAT happens "WHAAA we didn't get 100% of what WE wanted. We got screwed! Whaaa"
We all ready won a major victory here. The last few weeks shows hat without the Tea Party the debt limit increase would have been passed without any attempt to rein in spending
The Tea Party has all ready won simply because the terms of the debate are now changed forever. It is no longer a question of cutting spending, it is now how to do it and how much to do it.
True we did not win a complete annihilating victory but this will be a long war. This is the Tea Party equivalent of Lexington/Concord.
The war on Federal Spending has now started.
” How was this a GOP victory??”
I guess you don’t drink enough..
“D.C. isn’t interested in what is best for the country because D.C. long ago lost the ability to be interested in the individual and individual rights.”
DC politicians and the federal government are only interested in empire building and power grabs. What else would they do if they weren’t spending the peoples’ money?
Any conservative upset about this deal doesn’t live in reality. Not because it’s a good deal, but because anyone familiar with D. C. knows that the deal will be a middle-of-the-road good-for-nothing mess. Besides, you can’t make a good deal with bad people.
The country is insolvent and has passed the tipping point. No one in Washington has the guts to do what needs to be done. So it’s going to be an economic collapse or a massive loss of private wealth through dilution of the currency.
There are no non-painful solutions left. The odd thing is that conservatives are looking to Republicans to solve the problem. I thought we knew better. Govt doesn’t solve problems, it makes them worse.
Conservatives vastly overestimate their own numbers, which leads to a lot of angst. There are no conservative Democrats, and the majority of Republicans are liberal to moderate. And you expect something good to come from that combination????
Insane.
.....baseline budget automatically forecasting an 8 % growth ...
This is very interesting. Where did you get the number 8% ?
That is in excess of 7% which is what I considered the maximum tolerable inflation rate. Here it is popping up as 8%. It is the rate at which devaluation will be compounded and the economy will be inflated. At that rate the 14 trillion of fixed obligations will only be 7 billion in 10 years.
Also as inflated wages rise, the marginal taxes paid on those wages will increase.
The compounded inflation and inflation revenue increase may irradicate the debt in today’s %% in 9 years.
Therefore, the negotiated savings will be real less the devaluation
Wow, they agreed to raise the national debt by 2.4 trillion in exchange for empty promises.
We (the world) practiced Usury, and now we get to go through the results of living off of borrowed money. It will not be pretty.
And remember, Galt had a deus ex machina force field. Real people don't.
>> but anyone who thinks the Dems “won” anything on this needs to reexamine.
No claim made the Dems “won” anything other than relieving Obama of economic responsibilities. The GOP rushed this deal through to accommodate Obama’s schedule despite his soon-to-be-forgotten childish antics .
The GOP punted instead of driving the hard, necessary bargain that would involve changing course. Unfortunately, while staging these stately deals of epic proportions, the GOP ridiculed and ignored the advocates of real change, the TEA members.
In other words, we lost, and Obama’s free to campaign.
You said it all
I think we did OK in view of the obsticles.
http://www.youtube.com/watch?v=DYwC39LyUFw&feature=related
Whoa! - That sure does qualify!
Bingo. We’re screwed.
Shull Bit.
Ask yourself, did the Democrats get a deal as good for them as that which they had negotiated with the Speaker over a week ago? I would say no.
They will say it is a “GOP” victory until after it is passed and then it will be lauded by the MSM as “a brilliant deal brokered by Obama.”
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