Reid-Boehner Deal - $2.4 Trillion Largest Debt-Limit Increase in U.S. History

Cybercast News Service ^ | August 01, 2011 | Terence P. Jeffrey

[CharlyFord]

What’s to say any new debt bill would be adhered to any way?
“Congressional Budget and Impoundment Control Act” of 1974
“Balanced Budget and Emergency Deficit Control Act” of 1985
“Budget Enforcement Act” of 1990
“Balanced Budget Act” of 1997.
“Restoring Fiscal Discipline Act” of 2007
Yep, just one more bill ought to do it.

Why not just call whatever they pass The “Kick the Can Down the Road Bamboozlement Act ” of 2011 ?

---

You forgot "Medicare, Medicaid, and SCHIP Balanced Budget Refinement Act of 1999"

Let's shorten the title to "Kick The Can" Act. It's easier to type and use.

"The only thing that keeps Congress from being more corrupt than it is, is the fact that most of the Congressional hacks are inept bunglers." - - - Mark Twain

Mark Twain was way ahead of his time.

[novemberslady]

“super congress” = super czars.

bingo

[Wuli]

ping

[WOBBLY BOB]

thanks. I will add it to the list. I forgot to add “emergency” spending bills,too.

[Georgia Girl 2]

“And I was attacked for saying Boner was selling us out.”

Not by me.

What happened to the two step process that Tammy Faye was pushing last week? Remember how essential he thought it was. $1.1 trillion now with dollar for dollar spending cuts. Blah, blah, blah. Now all of a sudden Barcky gets the full $2.8 trillion and no immediated spending cuts which means no spending cuts. And now we have gone from the Gang of Six to the Gang of Twelve. Government by committee. Why bother to even have the rest of the House of Representatives? They now exist to rubber stamp the Gang of twelve.

Any thinking person should just be tweaking their list of survival food because when this thing unravels and its going to happen fairly soon its going to be unpleasant.

[Gene Eric]

It’s being reported that Boehner needs Democrat votes to pass the bill.

Boehner’s a piece of work.

[Only1choice____Freedom]

0bama’s WTF moment - Wringing the future.

[raygun]

The bar chart presented below is created directly from the U. S. Treasury Department's Monthly Treasury Statement (MTS). MTS is published annually in October. It contains total "actuals" for the FY just ended in September; the chart presented are "Actuals" for FY2010. Normally the chart also shows the proposed budget line for the next fiscal year, but there was no budget for FY2011.

Recall: as part of the War Supplement Bill, Congress "deemed" the Budget - completely discarding the Presidential Budget Proposal - and no official budget was passed by Congress for FY 2011; instead a series of "continuing resolutions" allowed Congress to continue spending without the guidelines of a budget.

http://cboblog.cbo.gov/?p=1249

The above link is a CBO blog link to the CBO Director's posting Federal Debt and the Risk of a Financial Crisis (posted 10 Jul 27 5:26 pm (filed under Budget Projections, Long-Term Budgetary Issues, Macroeconomic Analysis).

A large grain of sand in the eye is the huge increase in expenditure for the Department of Labor FY2010; and the Department of Education spent virtually double in 2010 what it did in the previous year. Obviously these budget increases have resulted in tangible benefits for everybody involved. Right?

Just for clarification: "entitlement" expenditures are spread out over several agencies, not just Health and Human Services. Agriculture Department administers "food stamps", HUD is all welfare.

I'm the terrorist to think: budget increases ... labor unions, teacher's unions ... just thinking ... (as terrorists are want to do). The current Democrap mantra would seem to be: "tax [only] the rich to make up the deficit". Facts get on one's eye every freakin' time you blow that crap around though.

The total worth of all American billionaires is $1.3 Trillion. We could take ALL their worth, not just high taxes, but outright take ALL their WORTH; and it wouldn't dent our national debt. It wouldn't even pay this year deficit! And if we did take their money to pay some of this year's deficit, what would we do next year?

Next year the bill comes due (and the story of the diners trying to figure out the bill comes to play after slaughtering their benefactor).

SOURCE: http://www.federalbudget.com/

The Republic CAN survive Obama. The Republic can NOT survive the idiots that deem him suitable to hold office.

[raygun]

Nope.

He had everything he needed; he read directly from Pelosi's playbook.

The hastily written 74-page bill — never reviewed by a legislative committee and rushed to the floor — cleared the House on a 269-161 vote late Monday, with 95 Democrats joining 174 Republicans in support.

One must pass the bill to find out what's in it.

[Gene Eric]

Agreed.

Absolutely shameful.