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Reid to offer $2.5 trillion debt deal with NO TAXES?
Zero Hedge ^ | 7/24/2011 | CNN Twitter

Posted on 07/24/2011 2:37:05 PM PDT by SDShack

Just out from CNN's Lisa Desjardins

BREAKING - NEW Dem. debt plan: Reid to offer at "least $2.5 Trillion" in deficit redux w/ no revenue increases, Dem. source tells CNN. NEW REID PLAN: "At least $2.5 T in deficit redux" w/ no revenue increases. BUT, unclear what baseline he's using and what he'd cut. REID PLAN: Dem aide tells our @tedbarrettcnn they think it meets GOP call for dollar-for-dollar spending cuts with debt increase.

(Excerpt) Read more at zerohedge.com ...


TOPICS:
KEYWORDS: debt; debtceiling; debtcrisis; debtlimit; dinghyharryreid; donothingsenate; haterofamerica; nerdyjerk; partyofnoplan; truecommunist
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Haven't seen any confirmation of this yet. But if true, then maybe the Dems blinked.
1 posted on 07/24/2011 2:37:11 PM PDT by SDShack
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To: SDShack

With no taxes?

ReidIdiot’s plan is different from the numerous Republican proposals that were voted down or ignored, etc. how exactly? =.=


2 posted on 07/24/2011 2:40:10 PM PDT by cranked
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To: cranked

all the cuts are in 2039


3 posted on 07/24/2011 2:41:05 PM PDT by Politically Correct (A member of the rabble in good standing)
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To: SDShack

Here’s all I have to say about Dingy Harry:

Rule One, dems lie.
Rule Two, dems like abortion.
Rule Three, don’t forget rules one and 2.


4 posted on 07/24/2011 2:41:27 PM PDT by TheConservativeParty (PALIN 45 The cure for "meet the new boss, same as the old boss.")
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To: cranked

,,,post the “it’s a trap” pic.....(from Starwars)


5 posted on 07/24/2011 2:42:15 PM PDT by spokeshave (Obamas approval ratings are so low, Kenyans are accusing him of being born in the USA.)
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To: Politically Correct

I was going to say $2.5-trillion over 250 years.


6 posted on 07/24/2011 2:42:47 PM PDT by TheLawyerFormerlyKnownAsAl
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To: SDShack
Convene the Senate Harry and screw your deal. ( Harry Knows that Cut Cap and Balance, now having been tabled, can be called up for a debate and vote in the senate on Monday.) Pass Cut Cap and Balance, and stop trying to prevent what the nation wants.

Photobucket

7 posted on 07/24/2011 2:43:08 PM PDT by Candor7 (Obama fascist info..http://www.americanthinker.com/2009/05/barack_obama_the_quintessentia_1.html)
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To: SDShack

The leftie DUmmies will explode off into orbit in fury.


8 posted on 07/24/2011 2:43:44 PM PDT by sunmars
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To: Politically Correct

They’ll be backloaded, yes, but worse than that, remember what a “cut” is.

They can just presume govt growth would occur at X% GDP, Y% Inflation and Z% population growth and use huge numbers for X, Y and Z. Then declare cuts from those absurdly high numbers and presto, they get a spending increase.

This is why spending has to cut from FY2012.


9 posted on 07/24/2011 2:44:15 PM PDT by Owen
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To: TheLawyerFormerlyKnownAsAl

anyone know what is going on in the Asian Markets right now?


10 posted on 07/24/2011 2:44:15 PM PDT by RummyChick
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$2.5 Trillion over one decade (10 years) and NO Balanced Budget Amendment. And this so called "deal" can be changed next week after its signed by Obama.

If John Boehner agrees to any "deal" with the democRATs, John Boehner will be PRIMARIED out of his job next election. Guaranteed.

11 posted on 07/24/2011 2:44:52 PM PDT by pyx (Rule#1.The LEFT lies.Rule#2.See Rule#1. IF THE LEFT CONTROLS THE LANGUAGE, IT CONTROLS THE ARGUMENT.)
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To: Owen

If it includes the unconstitutional Super Congress - FORGET IT


12 posted on 07/24/2011 2:44:58 PM PDT by RummyChick
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To: spokeshave




13 posted on 07/24/2011 2:45:05 PM PDT by cdnerds (Now part of the conservative underground,)
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To: SDShack

Probably phony cuts from accounting tricks that kick in 10 years from now that will never really happen. Don’t be suckered again!


14 posted on 07/24/2011 2:45:57 PM PDT by Reagan is King
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To: SDShack

Nah! Default you socialist vermin.


15 posted on 07/24/2011 2:46:44 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: SDShack

No, it is a dollar for dollar deal...

shuffling the credit cards again.

Dollar for dollar is ZERO, they are agreeing to nothing and ultimately doing the deal demonstrates this is a completely orchestrated crisis.


16 posted on 07/24/2011 2:47:03 PM PDT by EBH ( Whether you eat your bread or see it vanish into a looter's stomach, is an absolute.)
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To: Reagan is King

On conference call with House GOP members Boehner says they have to stick together as a ‘team’ to not be minimized by Dems - NBC News

No Boehner, you have to stick to conservative values - not your RINO BS


17 posted on 07/24/2011 2:47:43 PM PDT by RummyChick
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To: SDShack

A real Cut or just a Reduction in the BLOATED rate of increase? Figures dont lie,but LIARS sure can figure


18 posted on 07/24/2011 2:47:44 PM PDT by ballplayer
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To: SDShack

This plan will last until 6:00 PM, when Obama meets with Pelosi and Reid.


19 posted on 07/24/2011 2:48:02 PM PDT by popdonnelly (The Liberal Era is over.)
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To: EBH

Dem aide: topics for WH meeting this evening: 1) How Boehner plans to move 2) Reid’s $2.5T plan - NBC News


20 posted on 07/24/2011 2:48:12 PM PDT by RummyChick
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To: RummyChick

LisaDCNN Lisa Desjardins
DEBT - BOEHNER in battle mode: In call said GOP must protct U.S. from “what...president is trying to orchestrate” and GOP must “stop him”.


21 posted on 07/24/2011 2:49:13 PM PDT by RummyChick
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To: All; SDShack

Moodys has said before: less than $4 trillion in cuts = credit downgrade.


22 posted on 07/24/2011 2:49:42 PM PDT by newzjunkey
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To: sunmars

First details I’ve seen. Just posted on Politico:

http://www.politico.com/news/stories/0711/59780.html

I suspect Reid will get an earful from the libs if there are no tax increases. Most likely it will be like Zero Hedge says... backloaded spending cuts that won’t materialize and no tax cuts. Essentially a debt ceiling raise with no cuts. Will be interesting to see the reaction of S&P and Moody’s.


23 posted on 07/24/2011 2:49:47 PM PDT by SDShack (0zer0care = "The Final Solution" - Socialized Euthanasia Healthcare)
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To: RummyChick
anyone know what is going on in the Asian Markets right now?






24 posted on 07/24/2011 2:49:48 PM PDT by jimbo123
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To: SDShack

Whatever it is that Reid is offering must be thoroughly examined for escape clauses, booby traps, other mischief as the DemoRATS are NOT trustworthy ever.


25 posted on 07/24/2011 2:50:04 PM PDT by rockinqsranch (Dems, Libs, Socialists, call 'em what you will, they ALL have fairies livin' in their trees.)
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To: SDShack

If true this is a good sign. The debate needs to be about the level of cuts without any tax hikes. The amount is important but not as important as ensuring we frame the debate for 2012.

The storyline for 2012 is that the dems have been running spending us into oblivion and now it is the Republicans turn (to spend us into half an oblivion).


26 posted on 07/24/2011 2:50:57 PM PDT by plain talk
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To: RummyChick

>> anyone know what is going on in the Asian Markets right now?

Oh, it’s total Chernobyl meltdown, I’m sure. I don’t even have to look; Odumbo and Boner said it would be and they NEVER lie.


27 posted on 07/24/2011 2:51:30 PM PDT by Nervous Tick (Trust in God, but row away from the rocks!)
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To: cranked

I don’t believe it either...

Raising taxes is part of a Dem’s DNA. Raising taxes is as natural to a Dumocrap as breathing and walking.


28 posted on 07/24/2011 2:52:09 PM PDT by max americana (FUBO NATION 2012 FK BARAK)
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To: SDShack

1. Make up phony spending projections.
2. Make up phony cuts in the distant future.
3. Cut the sh*t out of defense.
4. Adjust 1, 2 and 3 until they compute to $2.4 trillion.
Voila!

Oh, yeah,and blame the Republicans when it falls through.


29 posted on 07/24/2011 2:52:21 PM PDT by San Jacinto
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To: jimbo123

I don’t think the Republicans need to do anything. They passed a budget and dingy harry tabled it. Alright harry, I’m going home.


30 posted on 07/24/2011 2:53:00 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: TheConservativeParty

ditto.


31 posted on 07/24/2011 2:54:38 PM PDT by ken21 (liberal + rino progressive media hate palin, bachman, cain...)
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To: SDShack

Boehner and Majority Leader Eric Cantor (R-Va.), according to several sources on the call, implored his colleagues to “stick together” to enact a budget deal that they can support. Boehner said an agreement “will require some of you to make sacrifices.”

In otherwords, Freshman GOP...BOHICA


32 posted on 07/24/2011 2:54:57 PM PDT by RummyChick
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To: RummyChick

All Asian markets are up! http://www.marketwatch.com/


33 posted on 07/24/2011 2:55:00 PM PDT by rawhide
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To: pyx

Let’s wait and see how much, if any, of the $2.5 MM cuts are frontloaded in FY 12.

If the deal is a sham, then the credit rating agencies will have the last word.

And they can pass a sham deal in both houses without GOP support. Let the RATS own the consequences.


34 posted on 07/24/2011 2:56:22 PM PDT by mwl8787
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To: SDShack
Not enough.

If S&P is true to its word, the downgrading will come.

35 posted on 07/24/2011 2:57:44 PM PDT by marshmallow (.)
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To: rawhide
The Dollar is up 5%.

Timmy and Barack lose.

36 posted on 07/24/2011 2:58:06 PM PDT by scooby321
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To: SDShack

no cuts intended, just minor reductions in the planned increases.

Eliminate all welfare, welfare health care, food stamps, the EPA, Department of Eucation, Interior Department, Energy Department, the FDA, for starters and fire everyone that works in them.

For a tax increase, eliminate the Earned Income Tax Credit.


37 posted on 07/24/2011 2:58:21 PM PDT by dalereed
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To: SDShack

WHY IS NOT BOEHNER, the Republicans and even Rush, Our Real Leader, NOT DEMANDING INSTANT EVALUATIONS of EVERY FEDERAL BEREAUCRAT EMPLOYEE thru Efficency Studies and Reductions of Force thruout the Entire FEDERAL GOVERNMENT, Department by DepartmenT????????????? CUT THE FEDERAL WASTE AND FRAUD!!
We dont need the Department of Energy, the Department of Education, nor 99% of the department of State to name just a few!! We can cut the Federal Payroll by 30% and not have any adverse effect whatsoever, and if we cut the Federal Payroll by 50%, AMERICA would see an Immediate Improvement of 1000%!!! CUT THE FRAUD AND CRAP IN GOVERNMENT!!


38 posted on 07/24/2011 2:58:22 PM PDT by True Republican Patriot (May GOD Continue to BLESS Our Greatest President :George Washington!!)
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To: SDShack; All
Pelosi telegraphed this Friday:

via WSJ

House Democratic Minority Leader Nancy Pelosi outlined to a small group of bloggers Friday a way that Democrats could reluctantly accept $2.5 trillion in cuts without revenue increases. They would take the $1.5 trillion in cuts identified by a bipartisan group led by Vice President Joseph Biden, added to $1 trillion from ending the wars in Afghanistan and Iraq. Democrats wouldn't be happy to accept such cuts without any tax increases but it would achieve their goal of preserving safety-net programs like Social Security and Medicare. And it would allow Congress to extend the debt limit through the end of next year—a $2.5 trillion increase—while meeting Mr. Boehner's condition of having an equal amount of spending cuts.

39 posted on 07/24/2011 2:59:15 PM PDT by kristinn (Lowering the IQ on FR since Jul 31, 1998)
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Comment #40 Removed by Moderator

To: RummyChick

Perhaps it means fiscal cuts from their own districts - Which of course is fine by me.


41 posted on 07/24/2011 3:00:37 PM PDT by jimjohn
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To: RummyChick

The freshmen should have told Boehner that they did pass a bill, and that it’s up to the Senate to do something about it.


42 posted on 07/24/2011 3:00:40 PM PDT by Carling (At some point, those surrounding Obama have to realize that they are working for a psychopath)
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To: kristinn

The republicans must keep the never-passed budget a driving force for 2012.


43 posted on 07/24/2011 3:01:44 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: mwl8787

There is no way that any deal that would get through the Senate could pass the House...


44 posted on 07/24/2011 3:01:44 PM PDT by ken5050 (Save the earth..it's the ONLY planet with CHOCOLATE!!!)
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To: mwl8787

“The aide, speaking on condition of anonymity because the plan has not been publicly released, said the package would include up to $1.2 trillion in cuts to government agencies, including the Pentagon. It would not include tax increases, the aide said, but could include cuts to entitlement programs. It is also likely to rely heavily on savings from ending the wars in Iraq and Afghanistan,...”

http://www.washingtonpost.com/business/economy/boehner-hints-at-a-unilateral-debt-plan-geithner-shoots-down-short-term-options/2011/07/24/gIQAR0HAXI_story.html


45 posted on 07/24/2011 3:02:03 PM PDT by free me (Sarah Palin 2012 - GAME ON!!)
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To: SDShack

I won’t believe this any more than the 129 “Boehner’s Gonna Cave” threads I’ve seen this week.

If it’s true though, then perhaps the Dems finally cracked.


46 posted on 07/24/2011 3:02:14 PM PDT by RockinRight (If we're "teabaggers" then they're "d-baggers.")
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To: kristinn
it would allow Congress to extend the debt limit through the end of next year

And help obamma's reelection campaign, since this major issue would be off the table as a campaign issue. The Pubs need to refuse to help him.

47 posted on 07/24/2011 3:02:27 PM PDT by rawhide
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To: plain talk
I think the story line for 2012 will be the Repubs are “unreasonable obstructionists” being controlled by the lunatic fringe AKA the Tea party.

I think Obama is going to raise the DC by Executive order even though it's not constitutional.

He's probably getting assurances from the Dems - especially Reid - that he won't let impeachment proceedings happen in the Senate.

48 posted on 07/24/2011 3:02:28 PM PDT by Pebcak
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To: TheLawyerFormerlyKnownAsAl; cranked; Politically Correct

And they are cuts in planned increases in spending, not actual spending.

Pay no attention to the man behind the curtain.


49 posted on 07/24/2011 3:02:28 PM PDT by Pining_4_TX ( The state is the great fiction by which everybody seeks to live at the expense of everybody else. ~)
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To: RockinRight

They didn’t crack.

It will be redefined cuts that aren’t real, just like the CR’s 100B.


50 posted on 07/24/2011 3:03:11 PM PDT by Owen
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