Skip to comments.Obama, Congressional Leaders Announce Deal on Debt Reduction (FREEP all members tommorrow)
Posted on 07/31/2011 7:49:07 PM PDT by Steelers6
President Obama announces agreement Sunday night with GOP and Democratic leaders on a debt-reduction plan compromise that could end a perilous stalemate and avoid a potential default on America's loans
(Excerpt) Read more at foxnews.com ...
I heard; no tax hikes at all and 1 trillion reduced over the course of 10 years.
Anyone hear differently...?
So this is non-cut cuts, basically, right?
” Republicans that vote for this joke are going to pay dearly early next year in Primaries or in November “
Hope you are right, but history says they are safe, for the most part.
McCain spent $21,200,000.00 against Hayworths $1.66 million, in order to win re-election. Money & power talks.
” I heard; no tax hikes at all and 1 trillion reduced over the course of 10 years.”
That is less than ZERO reduction, it is additional debt by about 2 trillion.
Bottom line: there will be about $40 billion in actual, real spending cuts until the next, $16.7 trillion debt ceiling limit is hit some time in Q1 2013,
If they didn’t defund obamacare for starters and make military pay mandatory prior to any other debts, then it’s worthless and so is john boohoo.
That is less than ZERO reduction, it is additional debt by about 2 trillion.
Exactly. Thanks for posting that...numbers matter.
so basically the national debt is increasing at the same pace with the Republican House as it did with the Pelosi House......got gold??
” ...numbers matter.”
And all pols NEVER post percentages....funny ain’t it....uh, on second thought, no it isn’t.
Yea...somehow all the numbers got lost in the political theater...but then that was the intention.
Yep but guaranteed you won't get to eat it....they'll be taking even that out of your hand.
“Bottom line: there will be about $40 billion in actual, real spending cuts until the next, $16.7 trillion debt ceiling limit is hit some time in Q1 2013,”
Then Obama gets pretty much what he wanted.
5000 Years Ago, Moses Said To Israel, "Pick Up Your Shovels,Mount Your Asses And Camels, And I Will Lead You To The Promised Land."
When Welfare Was Introduced, Roosevelt Said, "Lay Down Your Shovels, Sit On Your Asses, And Light Up A Camel, This Is The Promised Land."
Today The Government Has Stolen Your Shovel, Taxed Your Asses, Raised The Price Of Camels And Mortgaged The Promised Land To China.
“Republicans that vote for this joke are going to pay dearly early next year in Primaries or in November.”
Sadly, it depends on what state they are from. I would say any Tea Party members (or those put in office by the Tea Party) that vote for it are ending their career. Others may be able to dodge a bullit on this.
The question is, will there be enough (and I hate the term) “moderate” Republicans and Democrats to vote it to passage?
From what I have read, its biggest flaw is the provision for massive Defense cuts IF a future deal cannot be reached. That “may” be enough to get all right of center GOP members in the House and Senate to oppose it...or get it modified first.
Bottom line, and I suspect we all knew this, is that no one is going to like this deal...but many may be willing to accept it.
Fiscal conservatives, like the Tea Party advocates, can gain one benefit from this mess. It gives you more power to induce the necessary “passion” in 2012 to eliminate the spenders.
How will the GOP presidential primary play out? This will effect future happenings at the House and Senate levels. If the GOP doesn’t pick a truly conservative nominee (fiscal, social, etc.) then it wrecks everything.
Well, they’ll take the bread and leave us with the crap.
We need to wait for 2012 to expect any real reform.
It’s just all theater....nothing more...will be interesting to see how the international Community plays this once anything is decided...if it’s decided....when it’s decided....or when they pull the “fix” out of their butts and show the world.
Me thinks this is setting up for Obama to come in on his white steed....and he’s packed and ready.
Wow. $ 1 trillion over 10 years.
Big deal. That’s $ 100 billion/year.
I can do that in 10 seconds. No Dept of Education, No EPA, NO Department of energy. Done.
Why, these guys in DC are just working SO HARD for us little people, you know? /s
This needs to be DOA in the House. They finally came up with something that no one can support.
That’s Beltway establishment at its best.
Crap sandwich—same diet, different day.
Piss on all of them.
” Me thinks this is setting up for Obama to come in on his white steed....and hes packed and ready.”
We were holding ALL the cards. Sickening.
Save up your urine for a long pee.
Landrieau was just on Greta talking tax hikes,defense cuts,and some discretionary cuts and no two step process.Either she’s using some quality pharmas or Boehner got rolled big time.
Not so sure that's a negative completely...might get our troops out of Libya and Yemen and a few other places Bo wants to start further wars in.
Cut $0.04 trillion over 1 1/2 years and add 2.4 trillion to the debt. It's a sweeping plan alright. A plan to get Obama re-elected.
Normally I would say yes...but am thinking this too was played for show from the get go. The plan is for Democrates to have held off to the witching hour...no plan was the plan for over two years...let the republicans do the deed....squabble and fight in full view of the audiance so we'd believe they were working hard....while Obama lined up his attorneys and such to see what power he could weld to save the day from both sides and be the hero of the Hour.
He has yet to play his card....but I think it's coming.
That’s exatly right... but too many around here think the House Tea Party members have special magical powers that will force Zero and Harry to play nice. Folks, Harry and Zero represent 2/3 of the power here.
If anyone thinks we’re going to get a better deal, they’re dreaming.
Yeah... and that would have been passed by Harry and signed by Obama. Okey dokey then.
The blame lays directly on the Republicans shoulders....they still cannot see when they are getting played....nor have the wisdom to re-direct it when they do see....they fold until nothing at all resembles what they started with... and it becomes something else entirely right into the Democratic play book....then they usher Obama over the finish line.
Obama and the Democrats win:
1. Phony cuts. Spending will still increase significantly every single year in sight. There will be hardly any change in the anticipated budgets for the next couple of years so that incumbents can still trade pork for votes and campaign financing.
Moody’s and the other ratings agencies say the cuts, even including the ones from the committee, are not nearly enough and that they will be downgrading us — as they should. Tell me, why is the mainstream media so silent and unconcerned about real downgrades as a result of our deep structural problems, which are an order of magnitude more serious than any downgrade from a short term debt ceiling problem?
2. Then, later this year, we have a choice of a) tax increases that will surely come from the phony committee or b) unreasonable and dangerously deep cuts in defense and security spending.
The establishment Republicans win because they will point at this phony bill and claim they are holding the line.
Politics as usual wins. The country loses. We are still on the suicidal path of becoming Greece.
Good informative, post, bobk333!
The disgusting part is going to be at the next election when other FReepers are going to want to re-elect hundreds of these bastards.
Oh puhleez!!! There is so much ridiculous talk on FR tonight.
The Democrats are laughing their fannies off because once again the Republicans walked right into their trap. There is no taking down the debt in this bill which will ever be realized.....it could have been a score big time. They threw in the towel more than once thru these negotiations.....which as far as I'm concerned is treasonous against the American people.
Reminds me of McCain during his debates with Obama...he had the ammunition and never used it...rather he smiled and simply handed the election over to Obama declaring it was a fair fight....when in fact it was a surrender. That's just what the Republicans did here....
Email, and call, to tell your reps to vote NO! on the budget.
With this bill we will still go bankrupt, just a bit slower.
Plus, it will encourage many to have a third party, and Obama wins his reelection.
I had a witty response to that but thought better about posting it.....as a matter of fact, I can't think of anything to say that wouldn't get me in trouble here.
Hope Rush, Mark, Michael and others talk it down all through the live long day tomorrow. And, you are right, some people should SERIOUSLY be "PRIMARIED" over this thing next year, and be told tomorrow that is exactly the"NEXT ITEM OF LEGISLATIVE BUSINESS AFTER THIS ANTIC."
Thank you...well stated...and the trend remains downward as we know.
Somehow people thing we are going to survive this til the election...I’m having grave concern this will not be the case...
International upheaval and positioning is running at breakneck speed....what happens if Iran raises the bar even higher...if Korea’s famine esculates and the Bozo there lays down the Nuclear threat again. Not to mention Russia on the move with the ME. and China’s activities worldwide.
I think these will continue and Obama will not raise a hand to it all until he has to....and by then we’ll be so weakened there won’t be a hand to raise high enough.
Not true and they may as well vote for it. There are no tax increases so that's good. The Tea Party has had an impact but don't run a dictatorship so I am not sure what some expected given taht we're outnumbered 2 to 1.
So it's basically status quo til 2012 and we get greater numbers. Folks - the majority of Congress are not going to cut spending. They have to be replaced.
KILL>>>>>THE>>>>>BILL. Post Haste!
It’s really a crowd madness. And like all crowd madness, infectious, until antibodies develop.
We have the antibodies, but even too many of those we elected still got overwhelmed by the massive dose of insanity in DC.
“Not so sure that’s a negative completely...might get our troops out of Libya and Yemen and a few other places Bo wants to start further wars in.”
While I understand your sentiment...I think it would be irresponsible to hamstring the Military just to keep Obama in line. Eventually, he does have to leave office. Having our military force structure drastically cut is not a good idea in an every more dangerous world.
no it is not $100 billion cut a year. They use base line accounting and it will mean instead of us spending $10 trillion we will only spend $ 8.5 trillion! So they cut 1% of the rate of growth! It is crooked accounting pure and simple!
Via Hot Air:
Update: Timothy Carney reminds the left that when you elect a guy whose main goal is his own reelection, don’t be surprised when the deals he strikes reflect that priority.
And this debt deal is similarly Machiavellian: Substance was subjugated to political framing. Republicans had their demands: no tax increases, yes spending cuts. Democrats’ demands had a different tone.
First, Democrats wanted to ensure this was the last debt-limit increase before the 2012 elections. Raising the debt limit, as Sen. Obama said in 2006, is “a sign of leadership failure” and politically unpopular.
Second, they wanted to ensure that the right issues would be debated in the election year. A high-stakes debate over a balanced budget amendment — as required by the bill the House passed on Friday — would make it clear that Democrats, unlike most Americans, do not want a balanced budget…