Posted on 07/30/2011 9:31:20 PM PDT by Para-Ord.45
ABC has word that the deal is still tentative, but here is the outline:
Debt ceiling increase of up to $2.8 trillion Spending cuts of roughly $1 trillion Instead of Harry Reid’s bogus war savings, a commission will be appointed to recommend cuts totaling $1.8 trillion, thereby equaling the amount of the debt ceiling increase. That’s certainly an improvement over the Reid plan if the other cuts actually happen. I have my doubts whether the Democrats will follow through or simply use what they’ve already agreed to to demagogue the issue some more.
So the bottom line is that both sides avoided their non-negotiables. No tax increases which the House GOP refused to consider and the debt limit is raised enough to take this off the table next year, which the President demanded. Our credit rating will still get downgraded somewhat but the chance of default, which was never much of a chance, goes to zero.
The real downside is that the pressure is now off the President for the rest of his term and we didn’t make any real progress in addressing entitlements. None. We’re still living in the left’s Michael Moore fantasy world where trillions in unfunded liabilities aren’t really a problem. Maybe it really is going to take a major downgrade for these people to catch a clue.
I realize some people on the right are going to be angry that we didn’t get more, specifically on entitlements. Frankly, I’m angry about it too, but I don’t see how it was ever realistic to expect we could do better than this with control of 1/2 of one branch of government. Blaming Boehner for being unable to overcome the Senate and the President (and the media) accomplishes nothing.
Let me be blunt. None of the people complaining could have done better. They may want to pretend they could, but they’re dreaming. It’s sort of like the folks who sit in armchairs watching the Super Bowl and suggest they could have beat the Steeler’s defensive line if they’d been put in as QB on 4th down. Yeah, sure you could, tubby. Now pass the chips.
"The real downside is that the pressure is now off the President for the rest of his term and we didn’t make any real progress in addressing entitlements."
Boehner just allowed a debt ceiling past Jan. 2013 to save Obama`s ass ?
If there are no true cuts today, they will not materialize in the future. There are no statesmen inside the beltway who will stand through the gale.
BS. If this is true, 0bama now owns cuts all forms of entitlement programs. How is he going to explain this to his base?
9% unemployment and a double-dip recession are going to have a lot more to do with barry's chances than any help he gets from a debt ceiling increase.
If our rating is downgraded the numbers won’t work. In other words, as soon as it’s downgraded our debt increases. I wonder what they would do if Moody’s downgraded us on Monday? It would sure screw them up.
I agree. So we will let this criminal walk on this issue? This episode needs to be replayed before the next election. Otherwise, what is the point. Obummer will Spend Spend Spend.
two things:
1- ABC is also reporting there will be a vote on a BBA...
2- if they did split the debt ceiling into two parts rather than bundling it in one whose at greater PR risk in a general election year?? ayatollah obama who’ll have the criminal liberal media going full bore for him??? or the GOP candidate??? on paper a two part debt ceiling raise look good but there’s two much downside risk for the GOP from a PR POV....
whether its one debt ceiling raise of two, as long as gas is $4/gallon and unemployment is 9%, obama is effed....
i don’t believe it
don’t want to either
The real downside is this was never about stopping the spending. Obama got his money....and that’s what this is about...thus he’ll use it for gaining support for his election.
This wasn’t about a debt ceiling...nor spending cuts...this was and remains all about Obamas re-election.
The article is just more propoganda until something gets signed.
Someone is reporting that some kind of deal has been reached, and folks are flaking. Wait for the real bullets? Mmkay?
/johnny
ABC, the Albatross Broadcasting Company. I am still not convinced this is a true deal. Something tells me this was leaked by the WH to get the reaction of the "Tea Party Saints" and the "Venomous Lefty Devils." The WH is much to reliant on polls to announce a late night deal without some type of feedback.
They should rename this Bill “The DC Hacks Protection Act”
That’s about all it does. Phantom cuts, huge debt increase.
That should be a real crowd pleaser for the Inside The Beltway Hacks.
I bet they are ALL about to break out the Champaign Bottles.
The election is mostly going to be about the economy. If it is getting better and generating jobs, Hussein could be re-elected. If it is as crappy as it is now and we are going sideways or in the wrong direction on jobs, he will likely lose.
We don't need the debt ceiling to force a debate on the issue. This plan allows us another debate on the issue in a few months, but even if it didn't we're about to get into the budget wars anyway.
There will be no serious budget cuts until Hussein is gone anyway. None. The only real cuts in any agreement will be the ones for next year - and that's only going to be a few billion no matter what the total number of 10 years is.
This as all horse hockey. NO DEAL!! Don't increase the debt ceiling! The congress should force actual spending CUTS!!
Keep the pressure on! We don't need Obama and the congress mucking up anything else! Keep them busy on this one item for the next 16 months or so right up to election day. There is nothing more important for the congress to consider than warding off national failure and bankruptcy!! Let Obama go golfing. He's much less of a danger to the Republic when he's on the course! Stay (on) the course, Bambi!
gutless cowards all of them
“a commission will be appointed...” so we can all avoid blame...
Not true.
According to the report, Obama & the Dems will still have to debate cuts until November, the deadline for the 2nd half of the plan.
Also, don't forget that the Ryan plan is waiting in the wings. That definitely addresses entitlements so Obama is far from off the hook.
The reality is that, regardless of the level of the debt ceiling, the spending should be going in the opposite direction for years to come. The GOP needs to keep harping on this (and making progress on it) so that the debt ceiling level becomes irrelevant. Is the GOP up to the task? I doubt it, so it may be up to a new party to do what has to be done.
Let me be blunt. None of the people complaining could have done better. They may want to pretend they could, but they’re dreaming. It’s sort of like the folks who sit in armchairs watching the Super Bowl and suggest they could have beat the Steeler’s defensive line if they’d been put in as QB on 4th down. Yeah, sure you could, tubby. Now pass the chips.
Said like a true Steelers fan! Now give me an Arn with dem chips n'at. :^)
This guarantees Nobamas reelection. He will use the money in states where he can get 270 Electoral votes. The Repubs only controlled one house but it was the PURSE STRINGS! That scared the pi$$ out of the Dems. They have used every trick in their book to get the debt increase.
The only way to stop the spread of socialism is to stop borrowing and live off income. It would have been easier with only $14.7 trillion in the hole. Now we have to do it when we are least $ 18 T in the red.
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