Posted on 07/25/2011 12:46:29 PM PDT by conservativeforpalin
Speaker John Boehner’s proposal includes a balanced-budget amendment and a raise in the debt ceiling by $1 trillion. The proposed plan would save $1.2 trillion over the next decade.
Fox News reported:
The approach was received from a senior GOP leadership aide and reads as follows:
Two-Step Approach to Hold President Obama Accountable
Republicans insisted if the President wants his debt ceiling increase, the American people will require serious spending cuts and reforms. This two-step approach meets House Republicans’ criteria by (1) making spending cuts that are larger than any debt ceiling increase; (2) implementing spending caps to restrain future spending; and (3) advancing the cause of the Balanced Budget Amendment – without tax hikes on families and job creators. While this is not the House-passed “Cut, Cap, & Balance,” it is a package that reflects the principles of Cut, Cap, & Balance. Here is more information on the plan:
–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.
–Caps To Control Future Spending. The framework imposes spending caps that would establish clear limits on future spending and serve as a barrier against government expansion while the economy grows. Failure to remain below these caps will trigger automatic across-the-board cuts (otherwise known as sequestration).
–Balanced Budget Amendment. The framework advances the cause of the Balanced Budget Amendment by requiring the House and Senate to vote on the measure after October 1, 2011 but before the end of the year, allowing the American people time to build sufficient support for this popular reform.
–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. The framework included no tax hikes, a key principle that Republicans have been fighting for since day one.
Especially when they will spend the debt ceiling increase in 12 to 18 months and the phantom cuts will be spread out over 10 years. We're going backwards.
Given the current situation (i.e., the Democrats still controlling the Senate and the White House), a punt might be the only feasible option anyway.
A ten year point 2 billion 'savings' that kinetically will tank us in 2-4 years ?
Bullshit ... NO debt criling increase, period.
What part of, "We're broke because of the devil you're negotiating with" don't you get?
Obama did offer one “budget saver” back when.
He offered to raise Medicare eligibility from 65 to 67.... by 2036.
There won’t be an America by 2036!
Don’t try to bring sanity to this argument!
Wow...this thread’s got the DU spirit.
Sounds similar to CC&B to me, I don’t get the bellyaching here.
The US Government is in debt 15 trillion, the US itself 9 trillion, Fannie Mae & Freddie Mac 6 trillion, local and state government, personal debt, banks mortgages and credit card; etc. etc and etc add up to about 52 trillion debt.
Compound interest is threatening to swamp the whole system. People never think about the interest.
These people should be in prison.
This may be the only thing he can do at this point to keep obutthead from using this issue to get re-elected. The longer it drags out, the more the left can use it to pound conservatives. If we can keep the house and gain the senate in 2012 we can fix the cutting part if we hold the congress’ feet to the fire.
If nothing else, the ass hat does not get to shuck and jive his way on this through the next election. I want this deficit wrapped around his neck like a boaconstrictor.
Once again, the GOP caves. Didly sqat over 10 yrs.
Let’s make it easy for them.
Go here and open Rand Pauls 5 Year Budget plan: http://www.campaignforliberty.com/blog.php?view=41227
It’s fully of specific quantified cuts in federal programs across the board. Pick some, and don’t stop until they total at least $3 trillion.
Then get on the boob tube and announced that you have a plan to CUT SPENDING BY $3T and here it is. Name names.
When the SHTF, say OK, you have a better plan, let’s hear it - but remember the total has to come to $3T. Stand back and watch the fun.
Does this sound like a Daddy telling the little darlings at home they have to do without either the movie channels, the NetFlix, the video games, the vacation, the new phone, etc? Well that’s how you deal with people who have the maturity level of children.
Fun’s over kids. Time to pay the bills.
TWB
He proposes a balanced budget amendment but is unwilling to propose a balanced budget??
gutless
“Somebody stop me, please!”
Amen RB. Amen.
Reducing spending by 120 B annually will still be a Trillion and change added to the deficit each year. So at the end of the ten years, the deficit will be 25 Trillion+. What am I missing?
And I have yet to see any plan indicate money to pay down debt. Wouldn't you expect that?
EVen Harry Reid/Obama’s proposal have bigger faux cuts than this one from Beohner
the markets are expecting about $4 tril. in cuts and a lot sooner than ten years. Otherwise our rating is gonna get lowered anyhow.
This plan will pick up a lot of RAT and RINO votes in the house.
Money upfront, with only promised spending cuts.
Bonehead won’t need the votes of conservatives.
If this is what is to be, I’d let the RINO’s and RATS carry the water on this trickery and expose them for the coming elections.
If this is the way Bonehead passes it, I can guarantee there will primary challenges and many moderates on both sides will be looking for work after 2012.
Bonehead had better enjoy all the sham deals he can pass now.
He will be gone soon enough.
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