Skip to comments.Obama endorses Reid debt deal
Posted on 07/25/2011 12:38:39 PM PDT by Berlin_Freeper
WASHINGTON (CNN) - President Barack Obama on Monday endorsed a debt-ceiling proposal by Senate Majority Leader Harry Reid that would cut government spending by $2.7 trillion and increase the federal borrowing limit through 2012, the White House said.
(Excerpt) Read more at politicalticker.blogs.cnn.com ...
well this plan must suck then....
That’s $2.7 Trillion in cuts - WHEN?
If its one of those ridiculous 10 year deals - forget about it.
As long as he gets this off the table prior to the election he will sign ANYTHING!
Tell him to shove it.
If Zer0 likes it, there’s something wrong.
Too much money. No 2.7 trillion. How about 1 trillion for the next 18 months, you know shared sacrifice and all, bo only gets 1 trillion to buy votes with.
We’ll ‘’cut’’ 2.7 trillion (counting the ending of expenditures for Iraq and Afghanistan) over ten years (maybe, mostly the ‘cuts’ are trimming increases) for 2.7 trillion in debt authorization for the next year. IE: Give us 2.7 trillion to blow through, we’ll give you empty promises.
Not only no deal, I’d just for once like to see a reporter stand up and ask ‘what do you anticipate the cost of borrowing 2.7 trillion dollars to be, and did you account for that in your budget plan?’
And $1.2T would come from cuts in discretionary spending.
Yup...if Odumbo agrees to a Dem deal, there is absolutely something wrong.
I thought the proposed raise in the debt ceiling was minimal and temporary, so "O" would have to come up with a better plan in the interim or stuggle with this issue while campaigning.
Remember that the Rat definition of “cut”, is slightly less $$ in planned increases (maybe).
It's only wrong for Zer0. He has to take it or he'll have to face this same debate again in an election year with the 2-step plan.
He's having to concede to MORE cuts than the debt hike with NO tax increase which is exactly what Boehner and Cantor have been calling for.
LOL. He is getting NOTHING he wants with the possible exception of saving Medicare from being included so the Dems can have that for an election issue.
This is a big win for Boehner.
He did not win; Boehner only introduced the Mar '12 idea in the last couple of days to corner Obama.
Obama has lost bigtime...no tax hikes!!
Why does the Reid plan say through 2012; and give me a list of the cuts in the bill, there will never be any.
Then why is Boehner proposing something else?
Because Obama doesn't want to take this up in Mar '12 again, obviously.
Boehner was all for the bigger deal also. He proposed the 2 tier plan recently to scare Obama into accepted a "bigger cuts than debt hike" which Reid has today now been scared into proposing. Ha.
Dems have been all along saying they were against larger cuts than debt hike until today (unless tax hikes were included). Boehner wins.
See post #21.
You got it!! Obamacare has built in automatic tax increases and more spending. Did anyone see that addressed??
It's the same old BS. Cuts, means reductions in tax increases. Cuts, mean reductions in spending increases. But Washington still gets a bigger share of the Nation's wealth and Washington still spends more to buy votes and campaign contributions.
Boner wins my rear, there will never be any cuts. He kicked the can and grew government by trillions. And the whole deal stinks more republican caving. Where is the lists of cuts!!!
I would tell them, "SHOVE IT!"
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Boehner's includes some Medicare reforms...Reid replaces this with war "savings"
That's where the current fight is now.
They never wanted cuts in excess of the debt ceiling. And Obama was on fire for tax hikes all along.
They will be incensed that Boehner and especially Cantor got what they wanted both in the Biden talks and in the talks over the last couple of weeks.
Of course it sucks! The Left will say anything to get the gullible Republicans to sign on and then block it’s being carried out...after the debt ceiling has been raised. I hope the republicans can see through this, especially after what Obama did to Boehner in APril, promising certain things, and immediately rescinded it as soon as it was voted on.
Once again they are future cuts, they are never going to happen, it is all smoke and morrows. But the increase in the debt ceiling is immediate and all the spin you can put our is not going to change that. Say it one time slowly, the debt ceiling increase is immediate, the cuts happen some time in the future, kick the ball Charlie brown.