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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.
Boehner sold us down the river.
Nothing new here. Nothing to see. Move along./s
Would appear the TEA Party needs to kick more RINOs out of office in the next election, including this knuckle-head BONER.
All they want to do is maintain the debt. Spending money on debt service takes away money from their pet projects. Soon all we will be able to do is pay interest on the debt, 100% of tax revenue will pay for interest. No military and no Medicare, no medicaid, no Social Security, no unemployment, just interest payments...................
Get rid of 14T in the next decade or go to hell Mr. Speaker....and don’t tell us that it can’t be done because that is total BS.
No, the original Boehner-Cantor plan was for $2.7 T. The one Boehner proposed over the last couple of days was just to scare Reid and Obama into offering this (Boehner said he'd go for a shorter deal to keep the issue alive for election '12 if they didn't propose something acceptable so Reid came up with this today).
These people should be in prison.
They would be if they pulled this kind of fraud in the private sector.
Watching Cavuto now...Speaker Boehner, Canotr, many others getting microphone time..one after another they are pointing out that 0bama is doing nothing but concentrating on next November. Each one is slapping him in speech. They are also wearing blue ribbons..is that a show of grief for Norway? Or something else?
Really, it is silly to talk of a plan that involves the next 10 years. In that time, 5 more Congresses and 1-3 more Presidents will be in the WH, and will ignore anything another Congress or President did. Graham-Rudman anyone?
The only true reform is that which acts now and cuts now, in true cuts and not just reduction in increases. And those cuts have to be at least 25% of a budget item, or we’re just playing footsie under the table.
Boner’s Office
202-225-6205
ON HOLD...big backlog of callers right now...
Patriotic Music Playing: America the Beautiful, now Sousa Medley...
They're trading $1 trillion in more debt right now for $1.2 trillion in savings over ten years. That is a net savings of $200 billion over ten years. It's a joke. And the joke's on us....
Simple as that.
Don’t let ‘em raise taxes or fees, folks. That’s one way that the socialist constituents behind those politicians can hurt you for a long time. Otherwise, let ‘em proceed to their default. They’re going to do that anyway: their own demise and your freedom (little enforcement after default).
Keep moochele’s a$$ at home and that will save a lot of money.
Not no, but HELL NO!
No debt ceiling increase!
No tax increases!
Cut spending by 5 trillion NOW!
What’s so hard about this?
According to these two IDIOTS the Tea Party doesn’t include the American people...(as if we don’t pay any damn taxes like most of their contituents!)
******
Schumer and Reid decried the GOP plan as a time-waster during their press conference, saying it had no chance to pass the Senate. Reid said the GOP is “being driven by the radical right-wing that is so in tune with the Tea Party,” and suggested that rank-and-file House Republicans “want their leaders to ignore the American people.” The Republican leadership, he argued, needs “to break away from those extremists who seem to be running the Republican party in Washington.”
“Republicans are more interested in trying to embarrass the president than doing what’s right for the country,” added the Senate majority leader. (See video at link)
http://www.cbsnews.com/8301-503544_162-20083100-503544.html
I got right through.
Still ON HOLD with Boehner’s OFFICE...20 minutes right now...they must be getting HAMMERED with calls...
Major ratings firms — namely Standard & Poor’s and Moody’s — have said even if the country raises the debt ceiling and doesn’t default, there’s a strong likelihood that the triple-A bond rating will be cut to double-A unless a budget can be crafted that results in $4 trillion in savings, the result of the massive debt load the country has accumulated in recent years.
http://www.freerepublic.com/focus/news/2753709/posts?page=2
Which is not nearly enough...
All this drama and they still come up painfully short.
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