Posted on 11/23/2011 8:09:05 PM PST by sickoflibs
Imagine if the Democrats offered Republicans a deficit deal that had more than $3 in tax increases for every $1 in spending cuts, assigned most of those spending cuts to the Pentagon, and didn't take a dime from Social Security, Medicaid or Medicare beneficiaries. Republicans would laugh at them. But without quite realizing it, that's the deal Republicans have now offered to the Democrats.
In August, Republicans scored what they thought was a big win by persuading Democrats to accept a trigger that consisted only of spending cuts. The price they paid was 1) concentrating the cuts on the Pentagon while exempting Social Security, Medicaid, Medicare beneficiaries, and 2) delaying the cuts until January 1, 2013. That was, they figured, a win, as it eschewed taxes. Grover Norquist's pledge remained unbroken.
But 12 years earlier, George W. Bush had set a trigger of his own. In order to pass his tax cuts using the 51-vote budget reconciliation process, he had agreed to let them sunset in 2010. A last-minute deal extended them until the end of 2012.
So now there are two triggers. One is an extremely progressive spending trigger worth $1.2 trillion that goes off on January 1, 2013. The other is an extremely progressive tax trigger worth $3.8 trillion that goes off on...January 1, 2013. If you count reduced interest payments, the two policies alone would reduce future deficits by about $6 trillion. That's far more than anything the supercommittee came close to discussing. It's distributed far more progressively than anything the Democrats have even considered proposing. And all that needs to happen for it to pass is, well, nothing.
(Excerpt) Read more at washingtonpost.com ...
Republicans are stupid ping!
Nope, Republicans are Complicit!
The collision is coming. Buy popcorn.
I thought the House Republicans hold the purse strings, so why are they going along with this dog & pony show. They can change the rules - and frequently do. What’s the matter with these dipsh*ts?
In August, Republicans scored what they thought was a big win
Every Freeper recognized it as a disaster. No republican who voted for it can claim stupidity.
It would take a new bill to change it now. A bill that would need to get through the democrat senate and be signed by the socialist president.
The RinoCrats trot out a few Paul Ryans as apologist to the conservatives...and are sitting in the back room laughing as Flyover Country, once again, takes it in the shorts...and DC is banking it all.
BS. More Kabuki Theater from the one and only party, the Incumbency Party.
Cut today; reallocate tomorrow.
This article is brain dead. The Bush tax cuts have been set to expire from the day they were written; nothing changed about that last summer.
The President has said he will veto any attempt to rescind the cuts. And Republicans want to vote to increase spending? It ain’t gonna happen.
Here’s one for the educated idiots in Versailles on the Potomac. Defense cuts must be made, fine. Bring home all the troops stationed in Germany, Japan and Korea. Close the bases and/or give them to the host country. Tell the governments of host countries they must defend themselves. We’ll help, but we ain’t spending any more money.
Of course, they won’t listen and they’ll reduce the military to Dec 6,1941 levels. That really worked out, didn’t it?
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