Posted on 12/03/2010 9:39:12 AM PST by markomalley
The U.S. deficit commission received the backing of a majority of its 18-strong panel, but fell short of the 14 votes needed to possibly trigger congressional votes on its recommendations.
The panel's final plan would cut around $4 trillion from U.S. budget deficits by 2020 through an ambitious combination of an overhaul of the tax code, spending cuts and changes to the Social Security program.
As the commission wrapped up its final meeting, several members urged Congress and President Barack Obama to take up the mantle and take aggressive action to tackle the nation's fiscal woes.
The plan "deserves a vote in the House, it deserves a vote in the Senate," said Andy Stern, former president of the Service Employees International Union. "This president needs to make sure that by the State of the Union he has his own plan."
Mr. Stern was ultimately one of the seven no votes among the panel members, but he urged lawmakers and the administration to continue the debate on how to rein in federal spending.
(Excerpt) Read more at online.wsj.com ...
how does a panel generate its own report but not pass it. Only in Washington.
What a pointless exercise.
Mr. Stern was ultimately one of the seven no votes among the panel members, but he urged lawmakers and the administration to continue the debate on how to rein in federal spending.
These two statements are completely at odds with each other. The plan would have been sent to the House and Senate for a vote if it had been approved by 14 of the 18 commission members . . . but Stern was one of those who voted against it.
He's not even being coherent about this.
Job 40: 15-19
“Look at Behemoth,
which I made along with you
and which feeds on grass like an ox.
What strength it has in its loins,
what power in the muscles of its belly!
Its tail sways like a cedar;
the sinews of its thighs are close-knit.
Its bones are tubes of bronze,
its limbs like rods of iron.
It ranks first among the works of God,
yet its Maker can approach it with his sword.
Andy Stern has no business on any commission! The fact that he has such powerful influence over this administration should scare the heck out of every American!
A 33% across the board cut in federal spending, federal wages, federal workers, and federal work hours should be implimented. Furlough days would also be mandated. This affects the entire government minus the military side of the Dept. of Defense, and the intelligence apparatus, along with the FBI and US Marshals service ( which the other LEO agencies would be merged into).
Also, the EPA, DEA, ATF, and other unnessary agencies would be eliminated.
Revenue would be raised using tariffs, about 6-10% of the import cost of the good. A flat tax and low national sales tax would also be implemented. These recommendations would stay in effect until the surplus equals the highest point of deficit, indexed to inflation.
I was thankful their was some good, frank discussion about the choices that must be made...and it looks like all acted like adults. Iwas ready to let it at least get out of committee...but when I read Paul Ryan’s opinion (Can’t have the discussion with repealing healthcare) then I defer to him. He said the other day that he was going to introduce many of the measures in upcoming bills...but that we can’t have a seious discussion about deficity reduction unless it includes HC, something most members weren’t willing to touch.
This news will be played all kinds of ways...but I’ve got my money on the young guns; Paul Ryan is my top guy. He is one of the few that I trust know what he’s doing.
Oh, and Social Security would be subject to phase-out by 2045. Those on it at that time would be allowed to continue on it (as I am not totally cold), but the age to enroll will increase through the 2010’s-2040’s. Medicare would also be eliminated. And, Obamacare would be tossed into the trashbin. Earmarks and pork will be thrown out. Congress would only meet 4x/year and be paid the old wages.
I really like Paul Ryan too. To borrow a line from Frasier, “I’mmmmmm listening...”
And even this would not be enough. This problem has not human solution. We are like the bus driver looking up from his texting and realizing there is a stopped car 100 feet ahead and the bus is going 50 mph.
It is too late to rally do anything but try to watch the accident happen in slow motion and make comments as it plays out. And that is exactly what we are doing.
From what I saw of it, this “bipartisan” plan was another left-wing, big-government boondoggle. It was mostly raise taxes and cut benefits to taxpayers—but not to welfare recipients or illegals and the like.
In other words, screw the taxpayers and working people one more time, in order to save their government perks and the voters they have put on the Welfare Plantation.
NO. Cut the subsidies for PBS and Planned Parenthood.
I lost the internet for a minute. I also was going to say to cut the Department of Education, cut EPA, cut welfare for aliens, punish those who hire them, fix the border, and in general cut the huge entitlements for the lazy and the encouragements to broken families, instead of raising even more taxes on workers—which will only reduce income in the long run, and will solve nothing.
Time to get back to our Constitution and cut about 3/4 of the needless federal bureaucracy.
Eventually, assuming there are reasonably minded adults running the show at most all levels of government (!), the debt, as it stands now, will have to be repudiated.
That is a most unpleasant option, with monstrous effects world-wide, not the least of which will be foreign trade.
Currencies will have to be realigned with the new reality, and a new economic paradigm will have to be introduced to governments across the globe.
Keynesian thought will, of necessity, have to be disgraced and relegated to the trash bin of history, as will Communism as an economic theory.
What is likely in such a scenario is that it will almost certainly be accompanied by war, both global and civil (on the local level at many points internationally).
This is the inevitable, logical end point of an economic theory that, exercised and embraced world wide, is at once anti-human nature and anti-common sense.
My guess is that history will judge is most harshly for the embrace of this continuing folly that is leading to both economic and national suicide in many nations.
At least, that's how I see it.
CA....
This was a complete waste of time from the very beginning, and it has produced exactly as expected. This gives Democrats time to get out of town for Christmas, and come back in January to start shoving this up the Republican’s collective asses and demanding that they implement every item on it, regardless of what it is, what it would accomplish or with any regard to the consequences.
Pure politics.
.
LOL!
BUSTED!
by Barack “Lips” Hussein 0pansy-0ponzi
.
I really hope he doesn’t develop some kind of infection. Oh! I forgot! They’ve got penicillin for that...or something.
Despicable pig.
Druge finds the ‘best’ pictures, lol. Obama would love to shut down Drudge Report.
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