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Obama praises 'Gang of Six' plan
AP (American Pravda) ^ | Jul 19, 1:54 PM EDT | By ANDREW TAYLOR

Posted on 07/19/2011 11:16:24 AM PDT by Red Badger

WASHINGTON (AP) -- Time running short to raise the government's borrowing limit, President Barack Obama on Tuesday hailed a plan by a bipartisan senators' group on deficit reduction as the kind of "balanced approach" the nation is looking for. He said it's time for Congress as a whole to rally around such a proposal.

"We don't have any more time to engage in symbolic gestures, we don't have any more time to posture. It's time to get down to the business of actually solving this problem," the president said.

Obama spoke even as House Republicans pushed toward a vote on legislation that would require trillions in spending cuts and a balanced-budget constitutional amendment in exchange for an increase in the debt ceiling. That plan is unlikely to get through the Senate, and Obama has said he would veto it.

Facing an Aug. 2 deadline to raise the debt limit, Obama said he would call House Speaker John Boehner after the vote to invited him and other leaders back to the White House for meetings in coming days.

(Excerpt) Read more at hosted.ap.org ...


TOPICS: Business/Economy; Constitution/Conservatism; Culture/Society; Front Page News; Government
KEYWORDS: coburn; conrad; crapo; durbin; gangofsix; lamar; traitor; warner
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To: All
There threads are always good for Freeper hyperventilating and an over abundance of hyperbole. The gang of six has a plan that has virtually no chance of passing either house, McConnell has no influence with his caucus right now and in 2012 will lose his leader status. This idea won't even see the Senate floor, let alone be laughed out of the House. No way the liberals will accept any tax bracket cuts. Go over onto DU and they are panting as heavy as some of you are. I do agree the Senate Republican leadership is freaking menace right now and it is curious how after doing nothing all year both sodes of the aisle are tripping over themselves to get out in front of the TV cameras with some solution. The way this debt cieling thing has evolved is it has not evolved at all. We are still where we were 2 weeks ago, lots of rumors , plans, wishes and rumors of rumors. Let's see what actually gets voted on before we all do the collective Hari Kari.
61 posted on 07/19/2011 12:20:42 PM PDT by pburgh01
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To: Qbert

>>> “...74 percent of the plan’s deficit-reduction goal would come from spending cuts and 26 percent from higher revenues.”

Why is it every time the proposed cut coming from the next 10 years and higher revenues (wink wink tax hikes) immediately going into effect?

Why can’t it be the other way around?


62 posted on 07/19/2011 12:22:12 PM PDT by Sir Napsalot (Pravda + Useful Idiots = CCCP; JournOList + Useful Idiots = DopeyChangey!)
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To: tennmountainman
You are not an alarmist. But a realist.

"A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences."

Of course the lefts house of cards is going to fall. Every socialist society has failed.

63 posted on 07/19/2011 12:24:44 PM PDT by concerned about politics ("Get thee behind me, Liberal")
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To: LowTaxesEqualsProsperity
Any, and I mean ANY, Republican that votes for this is an open enemy of the American people...

You certainly seem sufficiently firm in your position to be able to explain the details.

Would you please?

64 posted on 07/19/2011 12:25:41 PM PDT by Rudder (The Main Stream Media is Our Enemy---get used to it.)
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To: Red Badger

he says everyone is childish but him only because they won’t give him what he wants, more money, sounds like the most childish point of view to me..what a POS..


65 posted on 07/19/2011 12:25:55 PM PDT by aces
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To: Red Badger

Coburn: Hopes for Former Gang of Six Plan

The proposal includes $1 trillion in new revenue, but like Senate Budget Chairman Kent Conrad’s budget proposal, it would be scored as cutting taxes because it would end expensive annual fixes to the Alternative Minimum Tax, senators involved in the discussions said.

It includes an immediate $500 billion in spending cuts that could function as a stand-alone proposal, backers added.

“The plan has moved significantly, and it’s where we need to be,” said Sen. Tom Coburn, R-Okla., a one-time member of the Gang of Six who walked out of the group’s talks this spring.

Coburn said the proposal could reach the key threshold of 60 votes in the Senate. Other senators were more circumspect, with Sen. Michael Bennet, D-Colo. , saying a “large number of senators are prepared to move on a comprehensive plan.”

But the proposal is not yet legislation, or public, and with both Senate leadership offices cool to it as they work to craft their own fallback bill, and the House likely to oppose the taxes included in the proposal, it remains a longshot for immediate action.

Coburn indicated he had rejoined the gang.

http://nationaljournal.com/congress/coburn-hopes-for-former-gang-of-six-plan-alive-20110719


66 posted on 07/19/2011 12:28:54 PM PDT by kcvl
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To: joe fonebone

If this deal passes the Senate it will pass in the House. Democrats will support it in the House and so will the progressive republicans. But it might just give rise to a third party since the GOP can not be counted on to defend small constitutional government. So some good might just come of all this.


67 posted on 07/19/2011 12:29:37 PM PDT by jpsb
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To: Red Badger

“We’ve gone from a Gang of Six to a mob of 50,” exulted Sen. Joe Manchin (D-W. Va.), as he emerged from the meeting. The proposal, Manchin said, “shows great promise.”

“I will support it. It is a fair compromise,” added Sen. Kay Bailey Hutchison (R-Tex.). “This is a way forward where we can do the work that we have come here to do.”

Details of the plan were sketchy and it was not immediately clear how the proposal might be combined with existing debt-limit strategies. As described by its creators, the framework calls for $500 billion in immediate spending cuts as a downpayment on a broader debt-reduction effort that would be carried out largely by existing legislative committees.

http://www.washingtonpost.com/business/economy/gang-of-six-budget-cutting-plan-gains-momentum-in-senate/2011/07/19/gIQANkdzNI_story.html


68 posted on 07/19/2011 12:30:40 PM PDT by kcvl
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To: Red Badger
Obama is so arrogant that I read he thinks he can veto a call for a balanced budget amendment to the Constitution.
Well I got news for him, such an amendment if approved by a 2/3's majority of each house goes straight to the states for ratification, the President has no role in this whatsoever.
69 posted on 07/19/2011 12:31:28 PM PDT by Captain Peter Blood
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To: bray

These are a ‘special breed’ of RINOs, I hereby dub the BOHICA RINOS...........................


70 posted on 07/19/2011 12:31:42 PM PDT by Red Badger (PEAS in our time? Obama cries PEAS! PEAS! when there is no PEAS!..........................)
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To: Red Badger

Gang of Six plan punts on key details

The Gang of Six plan unveiled to senators on Tuesday punts on key details, including exactly how it would reform Social Security and Medicare, according to a detailed outline obtained by The Hill.

The plan adopts a two-track approach: a $500 billion down payment and a later reform bill generating an additional $3.2 trillion in deficit reduction. That later bill is largely left up to committees of jurisdiction, and they are only required to meet specific savings targets.

On healthcare entitlements, the plan would seek to hold the growth of spending to GDP plus 1 percent per beneficiary, but it largely leaves it up to committees to decide how to achieve the savings.

The plan would be held at the Senate desk until a Social Security fix is found, and if that fix does not get the 60 votes required, the rest of the deficit plan is voided. The reform must ensure 75 years of solvency for Social Security, according to the Gang of Six, but how to achieve that is left up to the Finance Committee. If Finance cannot agree, a group of 10 senators — five from each party — can bring a reform bill to the floor.

The plan...

http://thehill.com/images/stories/gangofsix_plan.pdf


71 posted on 07/19/2011 12:32:01 PM PDT by kcvl
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To: concerned about politics

Can you sight a source for Bush buying that land in Paraguay?


72 posted on 07/19/2011 12:32:40 PM PDT by Captain Peter Blood
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To: aces
he says everyone is childish but him only because they won’t give him what he wants, more money, sounds like the most childish point of view to me..what a POS..

He has no plan of his own. He's passing the buck. He'll be praised by the liberal press no matter which side wins. He's never done anything on his own. He just likes taking the credit when someone else does something right.

73 posted on 07/19/2011 12:32:47 PM PDT by concerned about politics ("Get thee behind me, Liberal")
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To: ClearCase_guy

No. He likes the plan because his name doesn’t go on it. Actually, no ones name goes on it. That’s why it is good.

Well, sucks for us.


74 posted on 07/19/2011 12:35:33 PM PDT by EQAndyBuzz (As long as the MSM covers for Obama, he will be above the law)
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To: Captain Peter Blood

.....and he was a CONSTITUTIONAL SCHOLAR!.....................or so they say......................Smartest man ever to be President........or so they say.............57 states...............


75 posted on 07/19/2011 12:35:33 PM PDT by Red Badger (PEAS in our time? Obama cries PEAS! PEAS! when there is no PEAS!..........................)
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To: iontheball

Well, I don’t know. I think he is just naive. I worked on his campaign the first time around, and he just doesn’t seem that politically savvy to me. He may honestly believe that the spending cuts will happen. I am tempted to send him a t-shirt with the Peanuts cartoon of Lucy pulling the football away at the last minute.


76 posted on 07/19/2011 12:47:12 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: kcvl

Wikipedia has already updated it article on the GANG OF SIX to reflect this afternoon’s developments....a pipeline from the White House.


77 posted on 07/19/2011 12:49:26 PM PDT by BilLies (Whose your daddy: Frank Marshall Davis?)
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To: BilLies

Makes me want to PUKE!

Republicans never learn.


78 posted on 07/19/2011 12:51:51 PM PDT by kcvl
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To: iontheball

What kind of “devious connections with Obama’s past”?


79 posted on 07/19/2011 12:52:01 PM PDT by BilLies (Whose your daddy: Frank Marshall Davis?)
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To: Tzimisce
No, you guys don't understand: they're going to take our money AND our freedom.

You left out our guns.

But good luck with that one.

80 posted on 07/19/2011 12:53:59 PM PDT by unixfox (Abolish Slavery, Repeal The 16th Amendment!)
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