Skip to comments.Has Boehner's Plan Been Made Public
Posted on 07/28/2011 9:02:14 AM PDT by vbmoneyspender
I've looked for the plan but can't find it. Has Boehner's plan been made public so that interested citizens can read it before it is voted on today?
Prior version the bill here, Amendment in the Nature of a Substitute (Acrobat PDF)
Sec. 301. Debt Ceiling Disapproval Process.
This section adds a new section after 31 U.S.C. 3101 providing for modification of the debt ceiling by the President and a process for the Congress to disapprove of those modifications. The new section provides that if the President submits a written certification to Congress by December 31, 2011 that the debt is within $100 billion of the debt limit, the Secretary of the Treasury is authorized to borrow an additional $900 billion, subject to the enactment of a joint resolution of disapproval. Upon submission of the certification, the debt limit is increased by $400 billion.
The section authorizes the Congress to consider a joint resolution of disapproval subject to the procedures of this section. If Congress fails to enact the joint resolution, the debt limit is increased by an additional $500 billion.
Given that the CBO scored the original bill as having only 1 billion in cuts in the first year, I don’t understand how there is supposed to be $20 billion in savings for the first year of the amended bill given that the amendment doesn’t identify any cuts whatsoever. Looks like more accounting gimmickry.
There is only one plan. Cut Cap and Balance. The Senate has nothing on paper, Obummer has nothing and I can’t find this hybrid thing Boner if forcing the House GOP to vote on. Have you found anything other than CC&B?
Here are the sum total of the cuts contained in the bill. To summarize, the ONLY federal spending that is being cut in the bill is a change to how Pell Grants are handled. Amazing.
TITLE VPELL GRANT AND STUDENT LOAN PROGRAM CHANGES
Sec. 501. Federal Pell Grants.
This section provides $17 billion in mandatory funds over two years to help fill the funding gap in the Federal Pell Grant program.
Sec. 502. Termination of Authority to Make Interest Subsidized Loans to Graduate and Professional Students.
This section eliminates the ability of graduate and professional students to take out subsidized Stafford loans, beginning on July 1, 2012. This elimination does not apply to students enrolled in a program leading up to a degree or certificate or students enrolled in a program necessary for a teaching credential or certification where such credential or certification is required by the state.
Sec. 503. Termination of Direct Loan Repayment Incentives.
This section sunsets the Secretary of Educations authority to provide incentives for on-time repayment of students loans on July 1, 2012. This section also explicitly prohibits the Secretary of Education from creating any incentives for on-time repayment of student loans.
Sec. 504. Inapplicability of Title IV Negotiated Rulemaking and Master Calendar Exception.
This section clarifies that the negotiated rulemaking requirement included in Title IV and the master calendar requirements to not apply to the changes made in this Act.
That’s the first debt raise- it reads “BY December 31, 2011”. Of course Obama won’t wait that long LOL!
The second 1.6 Billion raise”
“... the Secretary of
the Treasury may exercise authority to borrow
an additional amount equal to
$1,600,000,000,000 if the amount of deficit re
duction achieved pursuant to the enactment of
the joint committee bill as set forth pursuant to
section 401(b)(3) of the Budget Control Act of
2011 is greater than $1,600,000,000,000, sub
ject to the enactment of a joint resolution of
disapproval enacted pursuant to this section.”
“authorizes the Secretary to borrow an additional amount
equal to $1.6 trillion, subject to Presidential certification and Congressional
disapproval, if the amount of deficit reduction achieved pursuant to the creation of
the joint committee in title IV of the bill is greater than $1.6 trillion.”
(I thought “enactment” refers to a bill that’s presented to the executive for signature, not one signed and ‘enacted’ into law. But that must be how it’s used here.)
So, a law must first be passed and signed reducing projected spending as much for this to be authorized.
Lot of strangeness here I’d like to hear a legislative specialist comment on.
I have only heard snipits of the republican ‘plan’ and I don’t like what I have heard.
This whole debate over this ‘manufactured crisis’ is one of the biggest scam ever played on our Republic. The republican’s lack the courage to put democrats on the defensive and we are the one’s who will suffer for it.
Boehner has said it’s the best they can do without controlling both houses and the presidency, well we gave them that once under the Bush administration and they failed miserably.
Then we gave them the ‘republican revolution’ in 2010 and we are now seeing them crap right in the middle of THAT.
Amen Brother. The only divergence is that the Tea Party people we helped get in there are helping this from being a backroom, closed door deal. All the info we have gotten on these plans comes from these House members hitting the airwaves and sounding the alarm. Just knowing that Boner is doing doubles of Pepto for his ulcers he gets from the Tea Party people makes me smile.
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