Posted on 08/01/2011 1:25:52 PM PDT by Nachum
The debt framework President Obama and congressional leaders reached Sunday night runs 74 pages long, and could authorize as much as $2.4 trillion in new debt — or $32.4 billion per page.
That debt increase will get the country through the 2012 election, both sides said, but it does not bring to an end the sea of red ink that will continue to wash over the federal government for the foreseeable future.
In the near term, the bill sets budget numbers for 2012 that would require a real cut of $7 billion in discretionary spending from 2011 levels, though that’s $25 billion less than projected spending would have been had it kept pace with inflation.
Over the long term, the deal could lead to as much as $2.4 trillion in lower-than-projected spending over the next decade, which also works out to about $32.4 billion per page in lower spending — if all of the conditions are met. But during those 10 years, that still means the country could pile up another $10.4 trillion in new debt, which would leave the government well more than $20 trillion in debt by the end of the decade.
(Excerpt) Read more at washingtontimes.com ...
Well obviously they need to add more pages, so that the per-page cost can drop !
Problem solved !
.
I’d rather be a hobbit than a drunken sailor.
>> King Obama got his 2.4 trillion to spend
If he demanded 4 zillion, McConnell would have given him only 2.4 zillion.
Next week we will here this money was used in Obama’s campaign to get ACORN/moveon.org boots on the ground and pay for his billion dollar campaign.
This is beyond insane.
My fluffy feet will take me all the way to the voting booth...
“GOP lawmakers said the super committee could well recommend a rise in taxes, which would be passed by the House.”
*In addition, financial experts warned the U.S. credit rating was still likely to be downgraded, as figures revealed the U.S. has entered a double-dip recession and the Dow Jones average today fell to a level barely above the point indicating growth. *
“would be the largest increase in the debt limit in U.S. history by a margin of half a trillion dollars”
That debt increase will get the country through the 2012 election, both sides said, but it does not bring to an end the sea of red ink that will continue to wash over the federal government for the foreseeable future.
In the near term, the bill sets budget numbers for 2012 that would require a real cut of $7 billion in discretionary spending from 2011 levels, though that’s $25 billion less than projected spending would have been had it kept pace with inflation.
I'm so pissed right now, I can't hardly see straight. All Boehner & the Repukes had to do was to set the stage right at the very beginning and declare
1) Not one penny increase to the debt limit
2) Mandatory spending cuts of $1 Trillion in 2012, including defunding Odumb0Care entirely.
3) To hell with "spending cuts" that reach out for 10 years. It is totally false & bogus & will be overturned with the next socialist (and socialist lite) Congress.
Boehner, you & Cantor & Paul Ryan and the rest of the RINO Repukes just E'FFN GAVE 2012 ELECTION TO 0DUMB0 AND THE RATS!!! You E'ffn nimrods, you just lost the House after only 2 years, the Senate will never flip over after this, and now you gave the upper hand plus $2.4 TRILLION to 0dumb0 the commie marxist sonofabith commie pig. You guys are dumber than dirt. Personally I hope the country either goes to hell in a handbasket, or that Amer Rev II would break out.
My whole fear is that the ignorance over who's getting cut with social security and medicare isn't the 95 year old, it's future retirees that should start planning for themselves.
Quite frankly the biggest hindrance to economic security is healthcare. I don't want the government telling what I can and I cannot do.. but it's really hard to put a price on living. Until we can figure how to lower our cost on healthcare we are all doomed, because, people will vote for their lives and when you don't have money you will choose the party that will try and keep you alive for “free”.
thats where the planned future budget cuts come in, they plan on pulling the plug to euthanize millions of seniors and cut trillions from the debt quagmire
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