SNIP
--Cuts That Exceed The Debt Hike. The framework would cut and cap discretionary spending immediately, saving $1.2 trillion over 10 years (subject to CBO confirmation), and raise the debt ceiling by less - up to $1 trillion.
SNIP
--Entitlement Reforms & Savings. The framework creates a Joint Committee of Congress that is required to report legislation that would produce a proposal to reduce the deficit by at least $1.8 trillion over 10 years. Each Chamber would consider the proposal of the Joint Committee on an up-or-down basis without any amendments. If the proposal is enacted, then the President would be authorized to request a debt limit increase of $1.6 trillion.
--No Tax Hikes.
(Had to exceprt. More details at source link.)
The only way this is raising the debt limit "less" than the amount of spending cuts would be if the debt limit increase was for 10 years just like the spending cuts. But the debt limit increase is for less than one year.
Do they really think we are that stupid? Oh yeah, they think we all have the fortitude of Crybaby Boehner.
saving $1.2 trillion over 10 years
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Yeah, right! That’s going to happen. The scum bag Boehner has a bridge to sell anyone who believes that.
Other than 9/11, what happened 10 years ago? I'd have to check wiki to see what the highlights are (again, other than 9/11). Do they really believe this will be binding on future Congresses? NO! Those old cronies will kick it even further down the road, assuming there IS a congress ten years from now among the ruins of the Unites States!
IIRC, the CBO estimated two years ago that our current deficit would be half of what it is - 800 B instead of 1,600 B.
If they can err by 800 billion in TWO years, what chance is there that a 1,000 B estimate over TEN years will be right? I’d call it...ZERO!