Posted on 05/10/2011 5:37:07 AM PDT by Kaslin
House Republican Speaker John Boehner will give an important policy speech on the debt ceiling tonight at the Economics Club of New York. This is probably the key paragraph (taken from an advanced look at the speech): “So, let me be as clear as I can be. Without significant spending cuts and reforms to reduce our debt, there will be no debt-limit increase. And the cuts should be greater than the accompanying increase in debt authority the president has given. We should be talking about cuts of trillions, not just billions.”
In plain English, Mr. Boehner is making this suggestion: Let’s say there’s a $2 trillion debt-limit increase proposed by the administration. In that case, there would have to be $2 trillion-plus in spending cuts in order to get Republican support. This is tough stuff.
By the way, the speaker argues that only tax hikes are off the table in the debt-ceiling discussion. He also insists that any debt deal must “reform the budget process.” However, the speaker does not specify budget-process reform.
That’s where there’s gonna be a big debate between an administration that wants deficit targets and many Republicans who want spending caps as a share of GDP. The former could still allow for tax hikes in the form of eliminating deductions, credits, and other so-called tax expenditures. It would seem that Boehner rules this out, but he does not explicitly say so. A spending cap, however, whether as a share of GDP or as a targeted level of some sort, would rule out any tax increases at all.
The White House believes that eliminating tax expenditures is a spending cut through the tax code. But unless this is accompanied by tax-rate reductions, it’s an anti-growth tax hike.
In terms of the overall budget going beyond the debt ceiling, Boehner talks about pro-growth tax reform and overhauling the code. He even quotes President John F. Kennedy in 1962. Speaking before the Economics Club of New York, JFK talked about the need to lower tax rates in order to generate more revenues to balance the budget.
Kennedy believed in the supply-side incentive model, and Boehner does too. But tax reform will not be part of the debt-ceiling discussion.
Finally, Boehner does state that “allowing America to default would be irresponsible. . . . But it would be more irresponsible to raise the debt ceiling without simultaneously taking dramatic steps to reduce spending and reform the budget process.”
So Speaker Boehner lays down the gauntlet. You want to raise the debt ceiling? Then we need an equal amount of spending cuts to go along with the higher borrowing authority. It looks like a good start. But of course, the Joe Biden talks will go on. We’ll see what happens next.
This is simply not so, and is a bald-faced lie told by the media.
Boner is really stupid if he can’t back this up and from his past recent decisions regarding the budget, this seems doubtful. Although the stakes are higher,it is likely that he will again play the fool. This does nothing for his chances for his retention as speaker and even his own re-election in his district.
Why is Boner risking his political career to defy the will of his constituents and most Americans who believe in fiscal responsibility?
Excellent point. Unfortunately it seems to be ignored by some here because of the hatred they have for John Boehner
This has to be the second stupidest thing I have ever heard from these idiot establishmnet players. The only one that tops this...we had to abandon the principles of the free market to save the free market!
My God...just how stupid are these people? Cut the debt by trillions and you no longer have a debt ceiling problem. In fact lower the debt ceiling by trillions as well!
Will he cry first, compromise second? Or the other way around?
There’s no concern he’s able to play even a strong hand.
Spot on!
Anyone who has seen the "Weeper of the House" fold time and again (though holding a Royal Flush) like a cheap suit, would seriously doubt he will stand pat or realllly call their bluff.
Hey Boner: It's called "Speak softly and carry a big stick!"
So far, all you and the squishy, wuss, Republi-Tards have done is bluster, sputter, and caved at the 1st sign of an intransigent, Dear Leader and Demo-Rats as well as demonization by the State-Run Media.
Hatred? No.
John Boehner has earned my distrust. Look at his track record or lack there of.
Who are you kidding, Boehner? You’re a worthless, gutless turd.
Bonehead demands Trillions in cuts.
But the truth is Bonehead and Cantor will fold like a cheap suit. They both have a history of folding.
They demand trillions but will settle for 50 or 60 billion.
I’ve written several scathing article about Boehner in American Thinker, so I am no fan of his. Having said that, he does seem to have had an epiphany on this issue by decoupling the term default and the debt ceiling. THIS IS VERY KEY.
This is a key acknowledgement on his part. It just amazes me that so many commenters clamor for Boehner to get a clue, and the moment he does, they all write him off. I would hope that this kind of change is what you’ve been looking for with all the negative (and deserved) commentary up to now.
Look, I know he may disappoint again - but his statement yesterday seemed to be a huge change in his stance on this issue. In the 90’s he was a good congressman. He went Washingtonian on us and has disappointed as speaker for sure. But maybe he’s getting the message.
I wonder if he is over the awe of being elected to the speakership.
It would be nice if there were a character in that position who is not surprised by his own election to that powerful position, and who wears the cloak of authority lightly, instead of one who, apparently, scarcely believes that he is worthy and is weighed down with the heavy cloak of responsibility.
I would not be afraid of negotiating with someone who is uncertain that he should be the negotiator. I think I would win every time.
Put someone in there who knows that he or she deserves the job.
Crybaby Boehner did not do shit.
He, as with most of the big government RINOs, will fold like wet paper.... =.=
Maybe.
But I'm reminded of that old saw from another spine-challenged GOPer who consistently folds winning or principled hands so he can get along with his Good Friends Across The Aisle; "Don't count your Hatch until he chickens!!"
I fear Boehner will fold this winning and princiled hand too. He's done it before when the media and the Democrats (but, I repeat myself) put the high pressure on.
If you think you have already seen weeping, wailing and gnashing of teeth hysteria over this "catastrophic event which will destroy the country", you ain't seen nuthin' yet. The AMEN! Choir is just getting warmed up!
Boehner can stop this runaway train in it's tracks. He's the only one who can do it. Chances are, he won't. This is the last opportunity to save us from fiscal disaster - but I'll bet the farm he caves to some meaningless "compromise" and the Democrats will end up giving each other high fives again.
I've seen this act before...
Larry Kudlow is an idiot. If you raise the debt ceiling by $2trillion and cut spending $2trillion you have basically done nothing. Its a wash and we are still spending the same amount as we were last year.
The Congress of the United States needs to cut the size of government and stop spending money. They absolutely will not do it. Boehner is not going to get any substantive decrease in our runaway spending. Prepare for disappointment. And then prepare for economic collapse.
He laid down the gauntlet and at the appropriate time will pick it up himself and beat himself into an even more senseless state.
What is the only entity that has surrendered before or after one shot fired than the French military? The RINO infested GOP...
We need to let Bachmann do the negotiating.
I am going to take this a step further,we have a Damn Orange weakling for Speaker,the result will be NOTHING, but business as usual,Plus we will lose the house (Pelosi back)and that Armani wrapped Primate will get four more years of wielding destruction on our country.
All because the Weeper can’t do his JOB!!
Not hatred. Contempt.
Same thing
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