Posted on 11/21/2011 3:01:26 AM PST by South40
WASHINGTON (AP) - Failure by Congress' debt-cutting supercommittee to recommend $1.2 trillion in savings by Wednesday is supposed to automatically trigger spending cuts in the same amount to accomplish that job. But the same legislators who concocted that budgetary booby trap just four months ago could end up spending the 2012 election year and beyond battling over defusing it.
Sens. John McCain, R-Ariz., and Lindsey Graham, R-S.C., say they are writing legislation to prevent what they say would be devastating cuts to the military. House Republicans are exploring a similar move. Democrats maintain they won't let domestic programs be the sole source of savings.
In the face of those efforts, President Barack Obama has told the debt panel's co-chairmen that he "will not accept any measure that attempts to turn off the automatic cut trigger," White House spokesman Jay Carney told reporters last week. The leaders of both parties in the House and Senate have expressed similar sentiments -- seemingly making any attempt to restore the money futile.
(Excerpt) Read more at cnsnews.com ...
The bipartisan frauds don’t want to cut ANY spending... they’d rather pile debt on our children because they’re too gutless to do what’s right for our country!
Let’s us keep on spending money we don’t have!
That was the plan “before” the plan. The Super Committee was simply a stalling tactic and the real plan was to do absolutely NOTHING.
It seems like the Super Committee accomplished its goal and kicked the can down the road once again.
Our political process is so corrupted that it cannot be fixed. Why? Simple, the entire “den of snakes” is supported by special interests and the money involved to “play the game” simply cannot be had by real patriots who wish to run. The “Fix” is always in and all in politics in the higher levels are “paid for” lackeys to the big money special interests.
They have rigged our political system for graft, corruption, and their personal gain.
There are no CUTS in anything.
*** “may”...***
may?
“Don’t buy the Jag, just the BMW. There we cut 15 trillion plus, let’s go make more mandates, and hike our perks.”
No worries, McQueeg and Gramnesty are “writing legislation”
These are men of principles
and if you don’t like their principles, well, they have others.....
Until arrogant men like this are gone, we are so screwed
It's hard for men like them to be gone when Americans keep electing men just like them.
In other words all of our Congress who voted and passed this law were a bunch of lying assclowns.
Sens. John McCain, R-Ariz., and Lindsey Graham, R-S.C., say they are writing legislation to prevent what they say would be devastating cuts to the military.'Rumor has it' that in Lindsey's legislation he's sneaking in a few words, hoping nobody will notice:
Okay, I am gay.
Here is why S&P downgraded the US credit rating.
• U.S. Tax revenue: $2,170,000,000,000
• Fed budget: $3,820,000,000,000
• New debt: $ 1,650,000,000,000
• National debt: $14,271,000,000,000
• Recent budget cut: $ 38,500,000,000
Now let’s remove 8 zeros and pretend it’s a household budget.
• Annual family income: $21,700
• Money the family spent: $38,200
• New debt on the credit card: $16,500
• Outstanding balance on the credit card: $142,710
• Total budget cuts: $385
Don’t you know the solution to a debt and spending problem us more debt and more spending? This is what DC tells us and they’re much smarter than any of us.
Now THAT’S good!
But seriously, this is a gaurantee for collapse sooner rather than later.
Otherwise why do you imagine they downgraded anything, or that they even count in the Internet Age?
like buying a new Volt because you quit buying a daily coffee at the coffee shop.
this people are idiots.
Another reason why...
Legislatures (state and federal) could be part-time jobs with 1/10th pay, NO retirement, NO insurance, NO benefits and NO perks. These POS politicians can get a full time job doing something productive not progressive. Their part-time job could be spent DEFUNDING/DISMANTLING socialist collectives, foreign and domestic (our government in particular).
—That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness.
Alter it.
The bipartisan frauds don’t want to cut ANY spending... they’d rather pile debt on our children because they’re too gutless to do what’s right for our country!
I have given up parroting the "taxing our children [and grandchildren]" line since it is mathematically impossible for that to happen. The money spent several trillion dollars ago might have been chargeable to the next generations, but the trillions spent now and into the uncertain future is money ex nihilo or money "out of nothing". There is no known method to pay back the debt being created today - we have exceeded the world's ability to raise the funds to even trade our nation's physical assets.
At least they’re consistant,consistantly wrong that is.
Blue Team/Red Team they're all bought and paid for.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.