President Obama praises 'Gang of Six' debt ceiling plan (RINOs add $1 trillion in tax increases)

politico ^ | 7/19/2011 | By JENNIFER EPSTEIN & CARRIE BUDOFF BROWN

[tobyhill]

President Barack Obama said Tuesday that a proposal offered by Republican and Democratic senators is “a very significant step” that represents “the potential for bipartisan consensus” on resolving the impasse over cutting the deficit and raising the debt ceiling.

In an appearance in the White House briefing room, Obama urged congressional leaders to embrace the “Gang of Six” proposal, which would slash the deficit by $3.7 trillion over 10 years, in part by raising about $1 trillion in new revenue.

We have a Democratic president and administration that is prepared to sign a tough package that includes both spending cuts, modifications to Social Security, Medicaid and Medicare that would strengthen those systems and allow them to move forward, and would include a revenue component,” Obama said. “We now have a bipartisan group of senators who agree with that balanced approach. And we’ve got the American people who agree with that balanced approach.”

[Snickering Hound]

[elpadre]

I endorse he eliminating of ethanol subsidies, do you consider that a tax increase?? I don't!!

[Sir Napsalot]

>>> Kills 401k plans, IRA’s, home interest deduction, employer-provided health insurnace, raises rates on dividends, interest and capital gains.

A job killer. A wealth destroyer. <<<

Obama liked to ask “At some point, you have accumulated enough wealth.”

Any couple would be fools to max out their 401(k) contributions (if they have them), saving the rest in other IRA’s and/or savings accounts, invest in stocks, and live a modest lifestyle in a modest home.

Foolish, I tell’ya.

[ZULU]

Hope and pray the Tea Party Candidates in the House NAIL THIS DEAD.

EACH and EVERY GOP Senator who voted for this should be a marked man in the next election.

I can just guess who they were: Snowe, Lugar, Collins, McCain, and the Nanometrical Pustule of Pusillanimous Putrescence.

[JoanneSD]

I agree gang of six sucks, I think calling them selves a ‘gang’ sucks.. we have enough gang violence in my city now, without glorifying it and naming a group of so called leaders a gang..

[newzjunkey]

Here's your traitor, GOP:

[ZULU]

The six senators backing the deficit initiative are Tom Coburn, R-Okla., Mike Crapo, R-Idaho, Saxby Chambliss, R-Ga., Kent Conrad, D-N.D., Mark Warner, D-Va., and Dick Durbin, D-Ill.

Contact the GOP criminals and tell them what you think of them.
Contact that unctious weasel McConnell, and tell what to think about this since he doesn’t know.
http://chambliss.senate.gov/public/index.cfm?p=Email

http://coburn.senate.gov/public/index.cfm/contactsenatorcoburn?p=ContactForm

http://crapo.senate.gov/contact/email.cfm

http://mcconnell.senate.gov/public/index.cfm?p=ContactForm

[Huskrrrr]

Heading for another “read my lips” moment

[tumblindice]

“revenue component”

`payroll premiums.’

[BitWielder1]

We have to take the governments heavy foot of the brake and let the economic engine do its job.
Increased taxes at this point will not bring in any more revenue stolen loot.

[JoanneSD]

I agree gang of six sucks, I think calling them selves a ‘gang’ sucks.. we have enough gang violence in my city now, without glorifying it and naming a group of so called leaders a gang..

[Keith in Iowa]

Gang of 6 = 6-pack of Clueless.

[Jane Long]

Or call.

Here's the toll free number (for the traitors in the Senate) : 888-226-4851

[GlockThe Vote]

Oh hell no!

This is truly absurd. No debate, and no discussion and these disgusting pigs want to pass this in the dead of night.

Screw that - let the govt collapse for all i care at this point.

[kcvl]

SENATE HUDDLES TO HIKE TAXES

Senate Budget Committee Chairman Kent Conrad, one of the six Democratic and Republican senators who have been working since December on a deficit-reduction plan, said the proposed $3.75 trillion in savings over 10 years contains $1.2 trillion in new revenues.

The group briefed about half of the 100-member Senate and “the response was very favorable,” Conrad told reporters.

He said the group asked fellow senators to take 24 hours to look at the proposal and “report back to us.”

According to an executive summary of the plan, it would immediately impose $500 billion in deficit cuts, cut security and non-security spending over 10 years with spending caps, make the Medicare and Medicaid healthcare programs operate more efficiently and abolish the Alternative Minimum Tax.

http://www.reuters.com/article/2011/07/19/us-usa-debt-gang-idUSTRE76I5CK20110719

[ohiobuckeye1997]

F'd again!

[DrewsMum]

$ bills supposed to originate in the house. The house should tell the SENATE to stuff it where the sun don’t shine

[tumblindice]

http://www.politico.com/news/stories/0711/58978.html

Chambliss, Coburn and Crap-O

[Huck]

and would include a revenue component

If he can't even say what it is....

[DaveA37]

“Lot of promised spending cuts. 1 trillion in ‘new revenue’. I’ve seen this movie before. Here’s a spoiler: new taxes stay, spending cuts go away in the next congress. No deal.”............

I agree, NO DEAL!. Spending cuts are nothing more than not spending anymore than what is already planned. They are not CUTS at all. New revenue means nothing but MORE, increased taxes. They don’t care where that money comes from just so they get it. The Dems will distort their plan, lie and cheat but in the end, you too will be screwed.