..according to a source familiar with the negotiations
marxist media whore
anonymous source
color me cynical
It should have been no more than 1 Trillion increase with a 1 Trillion drop in spending this year and that should increase by 10% min a year.
The endless spending from DC needs to stop, we do not have a deficit crisis it is a SPENDING CRISIS.
Time to bring back the guillotine and resolve the issue with DC.
SledgeCS
The deal can be explained. The fix is in. Bend over.
marxist media whore
anonymous source
color me cynical
the ONLY REAL PROGRESS is NO DEAL. ..... FREEZE THE CEILING NOW. That will give US a balanced budget. ...... otherwise it is a Ten Year B.S. plan that will raise taxes now and cut spending never......FREEZE IT NOW!!!!
If this is really a deal it’s only a WH-Senate deal is my guess
So you dont have to go to link, this is the entire article :
ABC News has learned that Republicans and the White House have struck a tenative deal to raise the debt ceiling before the Aug. 2 deadline. It’s not done yet, but here is the framework of the tentative deal they have worked out, according to a source familiar with the negotiations:
•Debt ceiling increase of up to $2.8 trillion
•Spending cuts of roughly $1 trillion
•Vote on the Balanced Budget Amendment
•Special committee to recommend cuts of $1.8 trillion (or whatever it takes to add up to the total of the debt ceiling increase)
•Committee must make recommendations before Thanksgiving recess
•If Congress does not approve those cuts by late December, automatic across-the-board cuts go into effect, including cuts to Defense and Medicare.
A senior White House aide pushed back against the idea that a deal was struck.
“Talks continue, but there is no deal to report,” the aide said.
This will work nicely for the Obama war chest for the 2012 campaign. Enough to help the unions to do whatever is necessary to keep control of the government.
This is hardly a win.
1 trillion in budget cuts over 10 years.
1.8 trillion more, decided by committee, or automatic across the board cuts IF the committee can’t come up with them. Over 10 years. We spent $3.7 TRILLION this year. If we save $2.8 trillion over the next 10 years, we’ll actually just INCREASE spending 6% less over that period of time than we would otherwise — and that assumes NO growth in the size of government! Actually, since the Fed Gov’t grows 8-10% a year, saving $2.8 Trillion over 10 years is a JOKE.
A Balanced Budget Amendment VOTE. But they DO NOT specify the LANGUAGE of the BBA. HOW would we arrive at the Balanced budget? COuld they increase taxes to achieve balance? Would spending be capped so that the Feds would be restricted from going over a certain amount of GDP? WOuld they be required to balance by spending cuts ALONE? Would THEY get to decide - or would We The People?
And speaking of caps — where does this compromise CAP the amount Washington can spend relative to GDP? Anywhere? The “Cut,Cap & Balance” capped it at 19.9% GDP. If there is no cap, then the politicians can still spend all they want with no restraint, no “governance,” no limit. And they know it.
This is all a charade — to get ALL of them thru the next election. From Obama to the Dems to the RINO’s in the House. And they’ll ALL blame the Tea Party Conservatives for being “obstructionists.” It’s a win/win for Washington. And a lose/lose for us.
More useless committees with “recommendations”.
BS!
From another article:
“$2.8 trillion in deficit reduction with $1 trillion locked in through discretionary spending caps over 10 years and the remainder determined by a so-called super committee.”
http://nationaljournal.com/budget/outlines-of-debt-compromise-emerge-20110730
Cuts OVER 10 years! Raise debt ceiling now, we’ll cut “tomorrow”, tomorrow that never comes.
As Limbaugh predicted, Republicans have been suckered, again.
Any comments?
...for those interested. :D
When Republicans Say Bipartisanship, They Mean Surrender
One more thing — from the other article I mentioned, there is NOT Balanced Budget Amendment, UNLESS the Commmittee “fails”.
I knew it was all smoke and mirrors. And wait until you see all the additional weasel words. Bottom line, Obama got his debt ceiling increase, Republicans got empty promises. Calling them the stupid party is too kind.
“If the Super Committee fails, Congress must send a balanced-budget amendment to the states for ratification. If that doesn’t happen, across-the-board spending cuts would go into effect and could touch Medicare and defense spending.”
http://nationaljournal.com/budget/outlines-of-debt-compromise-emerge-20110730
The RINO-Dem Coalition no doubt wins their plan but the TEA Party really wins in the end I think.
A committee! We’re saved!!!
An increase in the debt ceiling means more spending and more taxes. This isn’t a victory for Conservatism, this is a victory for big government establishment types. When you have big government idiots like Boehner, Reid, Obama and McConnell at the negotiating table, you get this confusing mixture of “revenue increases (more taxes), a raise in the debt ceiling (more taxes) and dollar-for-dollar cuts (no real cuts). Forget about the BBA, because that’s not going to happen as long as Dingy Harry is in charge of the Senate and Hussein is in the WH.
Can’t have a balanced budget if there’s no budget to balance.... The BBA is just red meat to get Conservatives on board with this sham.
![](http://api.ning.com/files/3UcSwhGAVbuTgaM-Sgdj4ZLPb4hMz2H51QnTC9sEEXQElJ6hf0CctRqpq47f0Sx*UPJUbgsZfrY*f2YhcNoHHwBu*ot-4SwR/federalbudget.jpg"/)
So, any guesses on where this number will be in 10 years without a Sarah Palin or Phase II? . . Your grandkids and generations unborn are going to Pay and Pay Big. . .
We’ll be right back here in 24 to 36 months, and our national debt will be $17 trillion plus.
Really nice work. /$