SPEAKER JOHN BOEHNER's Powerpoint On The DEAL

www.speaker.gov/UploadedFiles/3-7-31-11-Debt-Framework-Boehner.pdf ^ | Updated: July 31, 10:35pm EST | Speaker John Boehner

[Yosemitest]

Speaker John Boehner's Powerpoint On The Deal


TWO-STEP APPROACH TO HOLD PRESIDENT OBAMA ACCOUNTABLE

Emerging framework has three main features:

(1) cuts government spending more than it increases the debt limit;
(2) implements spending caps to restrain future spending;
(3) advances the cause of a Balanced Budget Amendment

Framework accomplishes this without tax hikes, which would destroy jobs, while preventing a job-killing national default.

NO TAX HIKES

‣ Same as House-passed bill, the framework includes no tax hikes.
‣ Under the framework, the Joint Committee of Congress will work off a current-law baseline, as required by the 1974 Budget Act, effectively making it impossible for Joint Committee to increase taxes.

CUTS THAT EXCEED THE DEBT HIKE

‣ Same as House-passed bill, framework includes spending cuts that exceed the amount of the increased debt authority granted to POTUS.
‣Would cut & cap discretionary spending immediately, saving $917B over 10 years (certified by CBO) & raise the debt ceiling by less – $900B – to approximately February.
‣ Before debt ceiling can be raised, Congress and the president must enact spending cuts of a larger amount first.

CAPS TO CONTROL FUTURE SPENDING

‣As in House-passed bill, framework imposes spending caps that would set clear limits on future spending & serve as barrier against gov’t expansion while economy grows.
‣Failure to remain below these caps triggers automatic across the board cuts (“sequestration”). Same mechanism used in 1997 Balanced Budget Agreement.

BALANCED BUDGET AMENDMENT

‣ Same as House-passed bill, framework requires both House & Senate to vote on a BBA after Oct. 1, 2011 but before the end of year.
‣ Similar to House-passed bill, framework authorizes POTUS to request second tranche of debt limit increase of $1.5T if:
‣ Joint Committee cuts spending by greater amount than the requested debt limit hike,
OR
‣ A Balanced Budget Amendment is sent to the states.

‣ Creates incentive for previous opponents of a BBA to now support it.

ENTITLEMENT REFORMS & SAVINGS

‣ Same as House-passed bill, framework creates a 12-member Joint Committee required to report legislation by November 23, 2011 that would produce a proposal to reduce the deficit by at least $1.5T over 10 years.
‣ Each chamber would consider Joint Committee proposal on an up-or-down basis without any amendments by December 23, 2011.
‣ If Joint Committee’s proposal is enacted OR if a Balanced Budget Amendment is sent to the states, POTUS would be authorized to request a debt limit increase of $1.5T.

ENTITLEMENT REFORMS & SAVINGS

‣ Sets up a new sequestration process to cut spending across-the-board – and ensure that any debt limit increase is met with greater spending cuts – IF Joint Committee fails to achieve at least $1.2T in deficit reduction.
‣ If this happens, POTUS may request up to $1.2T for a debt limit increase, and if granted, then across-the-board spending cuts would result that would equal the difference between $1.2T and the deficit reduction enacted as a result of Joint Committee.
‣ Across-the-board spending cuts would apply to FYs 2013-2021, and apply to both mandatory & discretionary programs.
‣ Total reductions would be equally split between defense and non-defense programs. Across-the-board cuts would also apply to Medicare. Other programs, including Social Security, Medicaid, veterans, and civil & military pay, would be exempt.
‣ Sequestration process is designed to guarantee that Congress acts on the Joint Committee’s legislation to cut spending.

[Yosemitest]

I'm against it!

It goes beyond the 2012 election.
It should only go until March 2012,
so Obama and the Democrats National Socialists would have to defend their outrageous spending BEFORE the 2012 election.
The Balanced Budget can be tampered with, too many loop-holes
Spending cuts start in 2013, not immediately.

So I'm against it.

I support a real solution and that is the One Percent Spending Reduction Act.
Facts are facts.
And the FACT IS ...

The One Percent Spending Reduction Act will work, and Democrats National Socialists are scared to death of it.

Just click on it for more info.

FR Member "casinva" asked some good questions and here is my reply to his questions.

May I refer you to the author of the bill, Congressman Connie Mack?

Now I'll try to find some answers.

"First, Why are we not hearing, have we not heard, more about this plan?"
Rep Connie Mack (FL 14) introduced the Bill H.R.1848.IH on May 11, 2011 .
I'm guessing the press, mostly Socialists, hate the Bill and is trying to ignore it, or worse, cover it up.
I'm also guessing the Democrats National Socialists can't stand it, either.
And, our ILLEGAL IMMIGRANT IN CHIEF doesn't want anyone to hear about this bill.
I'm also guessing that the establishment Republican types can't stand it either, because it would work.


"Secondly, Can this be put into practice immediately?
Would it touch upon what the politicians are trying to do at this moment
as far as calming the storm for any real or perceived August 2 deadline?"

I'm guessing that it couldn't be put into practice, UNTIL the Republicans take over the Senate.
UNLESS more Democrats National Socialists sign on to support it, it won't happen before Jan 2013.
I believe it would "calm the storm" in the public arena, but I'm guessing that in the back halls of power, it would upset the goats who are the gatekeepers of power.
As far as the August 2 deadline ... Fortney "Pete" Stark said it best:
FORTNEY: "You've heard a lot about the debt limit, and I guess that's --
I don't know how many of you are worried about it or concerned about it.
The fact is, I think it's a political charade. Now, I'm afraid that the Democrats have done that in the past -- (phone ringing) gotten -- shut down the government.
I don't think there's a chance that it will happen.
To extend the debt limit is nothing more than, as people have described it,
making sure (snickering) that the government's credit card doesn't run out of resources."

Next you asked:

"Third, If you can answer “yes” to the second point RE the August 2 perceived deadline,
could this be put up for a vote and go through the process at this time?
Do we have time to do it?"

I really DON't think it could be done by August 2, but you never know>
If we had HONEST people in Congress, it could, but we have nasty Democrats National Socialists.
We have time to do it, IF we have the will-power.
But this Kenyan Turd and his Marxists Minions in the Senate and the House are working 24 hours a day to "collapse the system."

"Fourth, Out of curiosity, HOW WOULD this plan get inserted into what is being presented at this time?"

There are several ways to get this done, but I'm NOT a Congressman or a Senator.
Direct you question to the sponsers of the Bill, located half way down this link, just below "Contact Congress".
My guess would be to have you look at the Actions & Votes tab of H.R.1848 - One Percent Spending Reduction Act of 2011.

I hope this has been helpful.

[Slambat]

“(1) cuts government spending more than it increases the debt limit;
(2) implements spending caps to restrain future spending;
(3) advances the cause of a Balanced Budget Amendment”
Yea. Right. Like Boner and the rest of the yellow spined
are going to hold the commies feet to the fire on this one.
Rush was right, we have been duped. Again.

[dajeeps]

Interesting - no repeal of Sarbanes-Oxley or Dodd-Frank in it. And we expect economic growth?

[familyop]

It’s a bait & switch con.

[Yosemitest]

I agree that Rush is right,

We've Been Played for Saps, Folks: Boehner Bill Will Become Reid Bill.

And I also agree with Rush that

Behind the Scenes, They're All Working on Plan C (Tax Increases).

[AmericanInTokyo]

What a freaking disaster.

Should be an interesting Monday on Conservative Talk Radio back in the USA, though--and where all the talking heads and other of "our leaders" shake out on this monstrosity.

[Yosemitest]

From "The Blaze":

President Barack Obama announced an agreement Sunday night with Republican congressional leaders on a compromise to avoid the nation’s first-ever financial default.
The deal would cut more than $2 trillion from federal spending over a decade.
While the President and Republican leaders have reached an agreement, the package still needs to be passed in Congress.

Default “would have had a devastating effect on our economy,” Obama said at the White House,
relaying the news to the American people and financial markets around the world.
He thanked the leaders of both parties.

House Speaker John Boehner telephoned Obama at mid-evening to say the agreement had been struck, officials said.

No votes were expected in either house of Congress until Monday at the earliest, to give rank-and-file lawmakers time to review the package.

But leaders in both parties were already beginning the work of rounding up votes.

In a conference call with his rank and file, Boehner said the agreement
“isn’t the greatest deal in the world, but it shows how much we’ve changed the terms of the debate in this town.”

Obama underscored that point. He said that, if enacted, the agreement would mean
“the lowest level of domestic spending since Dwight Eisenhower was president” more than a half century ago.

Senate Democratic leader Harry Reid provided the first word of the agreement.

“Sometimes it seems our two sides disagree on almost everything,” he said.
“But in the end, reasonable people were able to agree on this:
The United States could not take the chance of defaulting on our debt,
risking a United States financial collapse and a world-wide depression.”

The Speaker has sent out this document to members outlining the proposed deal.

The deal includes no tax hikes, with spending cuts that exceed the amount of the increased debt authority.
According to the Speaker’s outline the deal would cut and cap discretionary spending immediately saving $917 Billion over 10 years.
The framework requires both House and Senate to vote on a Balanced Budget Amendment after Oct. 1, 2011 but before the end of the year.

The framework creates a 12-member Joint Committee required to report legislation by November 23,2011
that would produce a proposal to reduce the deficit by at least $1.5 Trillion over 10 years.
Each chamber would consider the Joint Committee proposal on an up-or-down basis without any amendments by December 23,2011.
If Joint Committee’s proposal is enacted or if a Balanced Budget Amendment is sent to the states,
the President would be authorized to request a debt limit increase of $1.5 trillion.


The Associated Press contributed to this article.

What I'm hearing on T.V. now is that HALF of those spending cuts would come out of the military.
That sounds just like what our ILLEGAL IMMIGRANT IN CHIEF would do, to deliberately destroy our country.
And the other half of the spending cuts is coming out of Health Care, so the Kenyan Turd is still trying to push our grandparents off the cliff.

Another question:

increase of If Obama gets an increase in the debt limit of $1.5 TRILLION along with spending cuts of $2 TRILLION,
then doesn't that mean that Obama gets to spend an ADDITIONAL 3.5 TRILLION DOLLARS?

[Yosemitest]

From "The Blaze":

President Barack Obama announced an agreement Sunday night with Republican congressional leaders on a compromise to avoid the nation’s first-ever financial default.
The deal would cut more than $2 trillion from federal spending over a decade.
While the President and Republican leaders have reached an agreement, the package still needs to be passed in Congress.

Default “would have had a devastating effect on our economy,” Obama said at the White House,
relaying the news to the American people and financial markets around the world.
He thanked the leaders of both parties.

House Speaker John Boehner telephoned Obama at mid-evening to say the agreement had been struck, officials said.

No votes were expected in either house of Congress until Monday at the earliest, to give rank-and-file lawmakers time to review the package.

But leaders in both parties were already beginning the work of rounding up votes.

In a conference call with his rank and file, Boehner said the agreement
“isn’t the greatest deal in the world, but it shows how much we’ve changed the terms of the debate in this town.”

Obama underscored that point. He said that, if enacted, the agreement would mean
“the lowest level of domestic spending since Dwight Eisenhower was president” more than a half century ago.

Senate Democratic leader Harry Reid provided the first word of the agreement.

“Sometimes it seems our two sides disagree on almost everything,” he said.
“But in the end, reasonable people were able to agree on this:
The United States could not take the chance of defaulting on our debt,
risking a United States financial collapse and a world-wide depression.”

The Speaker has sent out this document to members outlining the proposed deal.

The deal includes no tax hikes, with spending cuts that exceed the amount of the increased debt authority.
According to the Speaker’s outline the deal would cut and cap discretionary spending immediately saving $917 Billion over 10 years.
The framework requires both House and Senate to vote on a Balanced Budget Amendment after Oct. 1, 2011 but before the end of the year.

The framework creates a 12-member Joint Committee required to report legislation by November 23,2011
that would produce a proposal to reduce the deficit by at least $1.5 Trillion over 10 years.
Each chamber would consider the Joint Committee proposal on an up-or-down basis without any amendments by December 23,2011.
If Joint Committee’s proposal is enacted or if a Balanced Budget Amendment is sent to the states,
the President would be authorized to request a debt limit increase of $1.5 trillion.


The Associated Press contributed to this article.

What I'm hearing on T.V. now is that HALF of those spending cuts would come out of the military.
That sounds just like what our ILLEGAL IMMIGRANT IN CHIEF would do, to deliberately destroy our country.
And the other half of the spending cuts is coming out of Health Care, so the Kenyan Turd is still trying to push our grandparents off the cliff.

Another question:

increase of If Obama gets an increase in the debt limit of $1.5 TRILLION along with spending cuts of $2 TRILLION,
then doesn't that mean that Obama gets to spend an ADDITIONAL 3.5 TRILLION DOLLARS?

[familyop]

"Another question:
increase of If Obama gets an increase in the debt limit of $1.5 TRILLION along with spending cuts of $2 TRILLION"

The $2 trillion in supposed cuts would be over a period of ten years. The debt limit increase would only be for a few months before the next one. Last I heard, the deficit for this year alone is over $1.5 trillion.

The "One Percent Spending Reduction Act" would also be inadequate.

Here's what's going on. Local public school teachers, police, planners, building regulation offices, environmental offices, social workers, government housing employees and many others are pushing both political parties to continue spending that our small manufacturing base cannot support. Most who have moderate or higher incomes depend either directly or indirectly on government spending.

Both political parties are dominated by constituents who are stealing from all who desire to do real work and be truly productive. Accordingly with their desires, the default process will continue to its conclusion.

[topher]

bmp

[Yosemitest]

Economic growth? With this?

Try reading this, What is Baseline Budgeting?.

" ... In short The Congressional Budget Office defines the baseline as a benchmark for measuring the budgetary effects of proposed changes in federal revenue or spending,
with the assumption that current budgetary policies or current services are continued without change. The baseline includes automatic adjustments for inflation and anticipated increases in program participation.
Baseline, or current services, budgeting, therefore builds automatic, future spending increases into Congress's budgetary forecasts. ...
In other words, you budget in projected growth.
So the standard baseline in our time is about 7%.
So every year you assume 7% increase in spending,
but it is not called an increase.
It is treated as flat.

Why Is This Important?

Let's say you have a "baseline" of seven percent growth per year.
The budget for next year by default will add, using a round number, 4 trillion dollars in spending.
Then you come out with a budget plan that cuts "spending" by 1 trillion dollars for the next 3 years.
Well, if you are using baseline budgeting you are actually raising spending by 9 trillion dollars over the next three years.
You haven't cut anything.
You have just lowered your growth projections.
Current spending is not only untouched, but actually grows. ... "

How will there be any "Economic Growth" with the government wasting our money at a growing rate of 7 percent, but yet they call it "NO INCREASE"?

[familyop]

Yes. The political noise from various, civilian government-dependent constituencies is deafening, and the politicians are listening to them.

[Yosemitest]

"Accordingly with their desires, the default process will continue to its conclusion."

And that conclusion will continue "Collapsing the System" ?

[familyop]

First, I disagree with the political parties continuing to increase the insane debts for their favored constituents. But please consider the following.

Socialists cannot continue a big government without revenues of value from a large manufacturing base (might call those sustainable revenues)—especially after they’ve regulated so much against domestic manufacturing. So yes, the collapsing “system” would be the current socialist economic system, running on debt and monies contrived from thin air. Such an economy was doomed to fail from the beginning.

If you get time and are interested, read about “nonpolitical politics” and Vaclav Havel in Czechoslovakia (before the Czech Republic). And yes, some in the USA also had much to do with that. Granted, violence is not necessary in such pursuits, and I’m not advocating any violence.

Sometimes, better people may find it impossible to slow a monstrous, over-regulating debt regime. Another way is to help it find its goal more quickly. And while its face is in the mud, start producing.

Prepare, and avoid unnecessary personal purchases. Why help to generate huge revenues without value in return? Become more self-sufficient each month while learning to produce an item of necessity as a hobby for now. Have fun. Enjoy the slide.

From martial histories and experiences, it’s sometimes good to add to your opponents momentum toward the cesspool that he strives to reach. Then rebuild without the regulating obstacles that he once put in your way.

[SueRae]

We have a long list of fixits for 2013. The piece of legislative crap-gobblety-gook should be tossed out, right on top of 0bamacare.

[SueRae]

We have a long list of fixits for 2013. The piece of legislative crap-gobblety-gook should be tossed out, right on top of 0bamacare.

[Cricket24]

We would only have defaulted had the President WANTED to default. Boehner and Company have to
GO!! I am so disgusted with these people. They never had any intention of doing the right thing. I hope Boehner’s district shows him the door in 2012!! How could he have been duped like this!!!????

[Roninf5-1]

How could he have been duped like this!!!????

Boehner hasn't been duped. He's working WITH Obama, Reid, and his Democrat pals to dupe the American people.

[FrankR]

Good analysis, but obama got what he wanted, an increase in the debt ceiling for the 2012 election...THIS TAXPAYER FUNDED RE-ELECTION COFFER.

That is why he has been so adament about the dates and after getting that concession, he made little fuss about the rest.

The kenyan is USING us to buy the next election. One think every Chicago thug knows is, most everybody has their price...obama will be "buying" secretaries of state, dead voters, and nullifying every catagory of vote that might be conservative, like military absentee votes.

He'll PAY his judge buddies to nullify any State sponsored VOTER ID laws, and he'll somehow work it so the illegal aliens...er...INVADERS can vote for him in exchange for citizenship....WE HAVE BEEN DUPED AGAIN.

[org.whodat]

Why doesn’t he just come out and start screaming here sucker, here sucker, at least that would be truthful. Boner is a bag of crap.