Skip to comments.The debt ceiling debate has THREE key components, yet they are only talking about two of them.
Posted on 07/08/2011 11:02:31 AM PDT by ken5050
While I am ever hopeful, sadly, I am starting to feel like Bill Kristol, who believes that conservatives won't be happy with whatever deal is struck. And as I look at the negotiations, I'm starting to understand why. And it's really not difficult to grasp. There are THREE major components to any deal:
1. The SIZE of the spending cuts, and what's cut:
2. The SIZE of the increase in the debt ceiling, and
3. The NUMBER of years for the spending cuts, and whether or not they are backloaded.
Obama is starting to talk about $ 4 trillion in spending cuts...trying one-upmanship over various GOP proposals, to make himself seem like a statesman and a serious budget cutter. We hear numbers from $2 Trillion to $ 6 trillion.
Both sides are talking about a debt ceiling increase of just over $ 2 trillion, which will carry us past the 2012 election, in effect giving Obama a pass, and allowing him to keep spending. Why is the GOP letting him off the hook?
And now we come to the most important aspect, the time frame for the spending cuts. I hear 10 years often..Obama floated 12 years yesterday.
THAT IS PURE GARBAGE. DO THEY THINK WE ARE IDIOTS?Note: you can pass on the rhetorical responses..
We could end up with a "deal" that gives us a $2 trillion increase in the debt ceiling, $ 4 trillion in spending cuts, except that the cuts could phase in at the rate of $200 billion for the next 5 years, then the "rest" in the outlying years.
The Greek currency is worth MORE than this type of agreement.
Early on in the negotiation process, Boehner was saying that "ANY INCREASE IN THE DEBT CEILING HAD TO BE ACCOMPANIED BY EQUIVALENT CUTS IN SPENDING, OVER A COMPARABLE TIME FRAME."
I'm NOT hearing that anymore..it's making me scared, nervous, and sad....and if it doesn't come to pass, I will be MAD.....
Any timeframe beyond the next election is smoke and mirrors, ‘cause Obummer is going down in flames.
The Repubs should state we as a country need to live within our means, which means only a balanced budget is the acceptable outcome.
Within 10 days would be great, but within 10 weeks do-able...10 months too long, 10 years? Really?!?!
The first cut that should be made is to cut the 10 year baloney.
Obama doesn't control spending, Congress does. He can only approve or veto the budget approved by Congress. Its up to Congress to cut spending.