Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Smoke and mirrors with the federal deficit
Wall Street Journal ^ | 7/20/2011 | Darrell Delamaide

Posted on 07/20/2011 8:57:45 AM PDT by tobyhill

Bring out the smoke and mirrors and let’s get us a bipartisan deficit deal.

The Gang of Six, breathless reporters told us this week, has found a solution that tons of senators in both parties are willing to go along with. It will cut $3.7 trillion from the deficit over the next 10 years while lowering taxes.

Wow! How did this group of Democratic and Republican senators do it? Well, for starters they’re going to save $500 billion just by changing the way inflation is calculated. And the rest will be put out to committee, you know, with six-month deadlines and specific targets and such.

Only in the U.S. Senate would this appear to be a real solution to anything. Congress now wants to substitute a magic show for the vaudeville that’s been going on so far.

The new Senate plan came as House Republicans were engaged in more posturing, passing a balanced budget amendment they knew in advance was going nowhere. Symbolic votes are mighty important to these freshmen congressmen, impressed as they are with the power they now have to legislate nothing.

The Gang of Six plan has now replaced the one proposed last week by Senate Republican leader Mitch McConnell to simply abdicate responsibility for the debt ceiling as the favored way for Republicans to get out of the corner they painted themselves into.

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


TOPICS: Extended News; News/Current Events
KEYWORDS:

1 posted on 07/20/2011 8:57:46 AM PDT by tobyhill
[ Post Reply | Private Reply | View Replies]

To: tobyhill

These “cuts to be named later” really bother me. Who will name them later? What if no one can agree on what to cut. Do these clowns really believe that we the people will put up with much more of these games?


2 posted on 07/20/2011 9:01:13 AM PDT by marstegreg
[ Post Reply | Private Reply | To 1 | View Replies]

To: tobyhill

Who are the Senate members of the Gang of Six? I thought Alexander(TN) and Coburn(OK) were in it, but who are the rest? Where is the accountability if they are a secret society?


3 posted on 07/20/2011 9:02:58 AM PDT by secret garden (Why procrastinate when you can perendinate?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: marstegreg
These “cuts to be named later” really bother me.

Later means "never".

4 posted on 07/20/2011 9:03:33 AM PDT by EGPWS (Trust in God, question everyone else)
[ Post Reply | Private Reply | To 2 | View Replies]

To: tobyhill
I just heard that the government has not paid down the debt since 1960. That would make more than 50 years of mismanagement.
5 posted on 07/20/2011 9:04:24 AM PDT by mountainlion (AMERICA LOVE IT OR LEAVE IT.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: marstegreg

Politicians can do only one thing. They will Kick the can down the road for the next guy. They hope the economy will improve enough to generate more taxes that they can then buy votes with. Both parties practice this. The pubbies are only a little less bad.


6 posted on 07/20/2011 9:05:00 AM PDT by refermech
[ Post Reply | Private Reply | To 2 | View Replies]

To: tobyhill
From April...

How Did $38 Billion in Spending Cuts Turn into Only $352 Million?

Fool me once....

7 posted on 07/20/2011 9:05:48 AM PDT by mewzilla (Forget a third party. We need a second one.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: EGPWS

It’s like Healthcare all over again. I can’t be more disappointed in our Senators than I am right now.


8 posted on 07/20/2011 9:06:00 AM PDT by marstegreg
[ Post Reply | Private Reply | To 4 | View Replies]

To: tobyhill

I think we in the Tea Party movement were a bit naive in thinking that the 2010 election, by itself, would change Washington.

As earth shaking as 2010 was, it needs to be replicated 2 or 3 more times in a row before we see a permanent change in the culture of DC.

Guys like McConnell, for instance, and other entrenched GOP professional politicians need to be dispatched.


9 posted on 07/20/2011 9:07:11 AM PDT by almcbean
[ Post Reply | Private Reply | To 1 | View Replies]

To: marstegreg

They couldn’t wait till the ink dried on the House plan, they had to go and undermine it.


10 posted on 07/20/2011 9:09:00 AM PDT by tobyhill (Real Spending Cuts Don't Require Increasing The Debt)
[ Post Reply | Private Reply | To 8 | View Replies]

To: refermech

We cleaned house in Congress. I think a new Senate is long overdue. These guys act as if they are looking down from Mt. Olympus or something. The framers of the Constitution gave the People the power, It’s time to use it.


11 posted on 07/20/2011 9:09:57 AM PDT by marstegreg
[ Post Reply | Private Reply | To 6 | View Replies]

To: marstegreg
It’s like Healthcare all over again.

GHWB more than healthcare.

Spend now and we PROMISE to cut spending down the road....

Photobucket

12 posted on 07/20/2011 9:10:04 AM PDT by EGPWS (Trust in God, question everyone else)
[ Post Reply | Private Reply | To 8 | View Replies]

To: marstegreg
It’s like Healthcare all over again. I can’t be more disappointed in our Senators than I am right now.

Well stated.

Even after the 2010 turnover.

We got some more turnin' over to do.

This may take a few cycles but can't give up. Hopefully it'll turn the ship in time.

But, my passport is in order and my funds accessible.

13 posted on 07/20/2011 9:10:51 AM PDT by Principled
[ Post Reply | Private Reply | To 8 | View Replies]



Boop His Nose But Don’t Get Burned!

Even This Tiny Baby Dragon
Thinks Donations Are In Order


Donate Monthly
Sponsoring FReepers will contribute $10
For each New Monthly Donor


Thank you, JoeProBono

14 posted on 07/20/2011 9:12:46 AM PDT by TheOldLady (FReepmail me to get ON or OFF the ZOT LIGHTNING ping list.)
[ Post Reply | Private Reply | View Replies]

To: EGPWS; tobyhill

They really do believe we are stupid. I just cannot understand what they are doing. They are risking their political careers to make Bozo happy. Who are the stupid ones now?


15 posted on 07/20/2011 9:13:16 AM PDT by marstegreg
[ Post Reply | Private Reply | To 12 | View Replies]

To: tobyhill

You can count on the GOP to cave, just as they did during the Reagan tax hikes and the Bush I tax hikes. The phantom “spending cuts” never happen, but the Dems will have more cash to spread around to their special interest groups to turn out their vote in Nov. ‘12.

How terminally stupid can the Republicans be? Every GOP senator who votes for this Obama bailout and is up for re-election should be voted out in next year’s primaries.


16 posted on 07/20/2011 9:13:48 AM PDT by kittymyrib
[ Post Reply | Private Reply | To 1 | View Replies]

To: almcbean
Boehner is one of those Republicans. We shouldn't have to drag him kicking and screaming just to do what is right. Boehner planned on a surrender before even passing the bill last night.
17 posted on 07/20/2011 9:14:00 AM PDT by tobyhill (Real Spending Cuts Don't Require Increasing The Debt)
[ Post Reply | Private Reply | To 9 | View Replies]

To: Principled

This may take a few cycles but can’t give up. Hopefully it’ll turn the ship in time.

I would really love to get normal everyday citizens in the Senate. Wouldn’t that drive the elitists crazy? Look at what the Tea Party has done to the Congress. It has made them much more functional and shockingly representative of the general public. I finally feel like I have some representation.


18 posted on 07/20/2011 9:20:28 AM PDT by marstegreg
[ Post Reply | Private Reply | To 13 | View Replies]

To: tobyhill

The entire process is just one big joke. The corrupt politicians ( government) have no interest in doing anything meaningful.


19 posted on 07/20/2011 9:21:39 AM PDT by mulligan
[ Post Reply | Private Reply | To 1 | View Replies]

To: tobyhill

*shakes head*


20 posted on 07/20/2011 9:22:55 AM PDT by Tzimisce (Never forget that the American Revolution began when the British tried to disarm the colonists.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: marstegreg

allen west types
joe walsh types


21 posted on 07/20/2011 9:23:56 AM PDT by Principled
[ Post Reply | Private Reply | To 18 | View Replies]

To: almcbean

The election of 2012 is shaping up to be and earth-shattering event. Many Dems and Rinos will be getting their eviction notices.


22 posted on 07/20/2011 9:29:38 AM PDT by Sarabaracuda (I, Sarabaracuda, do hereby swear to support the Republican nominee for president.)
[ Post Reply | Private Reply | To 9 | View Replies]

To: tobyhill
The new Senate plan came as House Republicans were engaged in more posturing, passing a balanced budget amendment they knew in advance was going nowhere. Symbolic votes are mighty important to these freshmen congressmen, impressed as they are with the power they now have to legislate nothing.

At least the House is doing its job, which is more than can be said of the Senate or POTUS. The one mistake the GOP is making is not touting the fact that they have passed CCB, putting some pressure on the non-working functions of our government.

23 posted on 07/20/2011 9:30:21 AM PDT by Major Matt Mason (Government doesn't create jobs, it only creates expenses.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: marstegreg
Yes, the senate is arrogance personified. The problem as I see it is that 50% or more of the electorate is in some fashion working for the government or gets some form of government subsidy. Is it even possible to overcome this hurdle?
24 posted on 07/20/2011 9:30:31 AM PDT by refermech
[ Post Reply | Private Reply | To 11 | View Replies]

To: Principled

Exactly!!! Brazenly honest, in your face, protectors of the people, country, and it’s Constitution. It’s a little sad that that particular type of person drives them nuts...


25 posted on 07/20/2011 9:32:06 AM PDT by marstegreg
[ Post Reply | Private Reply | To 21 | View Replies]

To: secret garden
I believe they are:

Democrats: Conrad, Durbin, Warner.

Repubs: Coburn, Crapo, Chambliss.

26 posted on 07/20/2011 9:32:53 AM PDT by Siena Dreaming
[ Post Reply | Private Reply | To 3 | View Replies]

To: refermech

Yes, the senate is arrogance personified. The problem as I see it is that 50% or more of the electorate is in some fashion working for the government or gets some form of government subsidy. Is it even possible to overcome this hurdle?

I believe it’s possible but the window is closing rapidly. Every year the government grows. We need to stop it now. I really think this is our last chance. I think we got Obama at just the right time. We needed some waking up and boy, he really woke us up.


27 posted on 07/20/2011 9:37:07 AM PDT by marstegreg
[ Post Reply | Private Reply | To 24 | View Replies]

To: tobyhill

The CPI already excludes food and energy.


28 posted on 07/20/2011 9:38:04 AM PDT by Lorianne
[ Post Reply | Private Reply | To 1 | View Replies]

To: tobyhill

“The Gang claims “savings” of $3.7 trillion over ten years, but Sen. Jeff Sessions, who has seen the plan scores the actual cuts at 1.2 trillion...”

http://www.americanthinker.com/blog/2011/07/gang_of_six_gambit_revives_spending_shell_game.html


29 posted on 07/20/2011 9:39:39 AM PDT by Qbert ("The best defense against usurpatory government is an assertive citizenry" - William F. Buckley, Jr.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: tobyhill

Eric Cantor should tell obama “You say you won’t support our plan. When you present a plan I’ll let you know whether or not I support it” then get up and walk out.

Only dems and rinos can raise taxes and say it’s cutting taxes and say it with a straight face. Sadly, the majority of the people in this country either aren’t paying attention or are just plain dumb.


30 posted on 07/20/2011 9:41:24 AM PDT by Terry Mross (I'll only vote for a SECOND party.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: marstegreg

They are risking their political careers to make Bozo happy.

You just hit on the problem. It’s “careers” in D.C. that have ruined this country.


31 posted on 07/20/2011 9:45:54 AM PDT by Terry Mross (I'll only vote for a SECOND party.)
[ Post Reply | Private Reply | To 15 | View Replies]

To: Terry Mross

I agree. Term limits are long overdue.


32 posted on 07/20/2011 9:47:25 AM PDT by marstegreg
[ Post Reply | Private Reply | To 31 | View Replies]

To: tobyhill

33 posted on 07/20/2011 9:48:52 AM PDT by Brandonmark (2012: Our Hope IS Change!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: refermech

And since the senate would have to approve an amendment to repeal the 17th amendment, the senate will always be staffed with arrogant people. We’re stuck with royalty. There’s only one thing that will change it and that won’t happen in my lifetime.


34 posted on 07/20/2011 9:49:02 AM PDT by Terry Mross (I'll only vote for a SECOND party.)
[ Post Reply | Private Reply | To 24 | View Replies]

To: marstegreg

“These “cuts to be named later” really bother me. Who will name them later?”

DEMOCRAT COMMITTEE CHAIRS!

Yes, it’s another clown-show distraction from the real solution: CUT THE SPENDING. NOW!


35 posted on 07/20/2011 10:13:24 AM PDT by WOSG (Cut the spending!)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Lorianne

I believe you are mistaken. The CPI contains food and energy, but “Core Inflation” reports exclude these two items. The CPI is currently used to calculate Social Security COLA’s.


36 posted on 07/20/2011 11:00:49 AM PDT by Tandem (What ever happened to personal responsibility & self-reliance?)
[ Post Reply | Private Reply | To 28 | View Replies]

To: Siena Dreaming

Thanks, I finally found an article listing the architects of this wretched plan. I don’t understand why the media pushes everyone to go along with their plan which isn’t even complete over the one that passed the House overwhelmingly yesterday. Why not honor the people’s wishes? Oh yes, because the elitist snobs in the senate and the progressives know best.


37 posted on 07/20/2011 1:13:18 PM PDT by secret garden (Why procrastinate when you can perendinate?)
[ Post Reply | Private Reply | To 26 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson