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Tim Pawlenty: Don't raise the debt limit - reform entitlement spending
Washington Post ^ | 21 Jan 2011 | Tim Pawlenty

Posted on 01/21/2011 3:35:29 PM PST by Notary Sojac

Contrary to what many people are saying, when the national debt approaches the limit, it does not mean that the federal government suddenly won't be able to pay its bills.

Default on such debt need not occur if Congress passes and the president signs a law directing the Treasury to sequence our spending and prioritize the payment of interest and principal on the debt, as well as other critical budget items.

Simply guaranteeing that the government will pay its outside debts would not solve our fiscal crisis. But it would properly frame our fiscal challenge - as a choice not between more debt and default, but between more debt and responsible spending reductions that would ensure we don't trigger a default. And by signaling to world markets that the United States is serious, it would buy us time to restructure entitlement spending and end the Ponzi scheme being run by the federal government.

Setting aside the false threat of defaulting on our debt payments, the upcoming debate over raising the debt limit is a similar moment for Washington. Entitlement programs need to be dramatically reformed. Given no other choice, I believe a bipartisan consensus could be created around ideas such as means-testing the cost-of-living increase in Social Security benefits, capping and block-granting Medicaid payments to states, and moving Medicare to a more efficient, pay-for-performance model.

While national defense is obviously a top priority, even the Pentagon needs to pursue greater efficiencies by using priority budgeting to ensure that our military remains the most capable and effective in a dangerous world.

Last year's midterm elections demonstrated that the public is eager to cut the deficit. But every program has an interest group that will fight hard to defend it. We can succeed only if lawmakers are given no other choice.

(Excerpt) Read more at washingtonpost.com ...


TOPICS: Government; News/Current Events; Politics/Elections
KEYWORDS: entitlements; minnesota; mn; palin; pawlenty; presidentpawlenty; timpawlenty
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To: MontaniSemperLiberi
Unless the law is repealed the Obamacare taxes will go ahead. The insurance industry is making changes because of the law. The 112th Congress cannot just ignore Obamacare. You have a fundamental misunderstanding of the Rule of Law and the Constitution.

Here is a list of taxes that have gone or will go into effect This is a couple of them.

Medicine Cabinet Tax ($5 Billion/January 2011): Americans no longer able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin).

HSA Withdrawal Tax Hike ($1.4 Billion/January 2011): Increases additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent.

Obamacare can be slowed or parts of it changed, but you have to pass laws to make those changes.

61 posted on 01/23/2011 3:32:05 PM PST by kabar
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To: kabar

You dance better than Bristol Palin. Yes, the taxes will go forward. Taxes aren’t spending. The spending to enact the rest of the law will stop if the House fails to pass an authorization to spend money to do it.


62 posted on 01/23/2011 4:02:48 PM PST by MontaniSemperLiberi (Moutaineers are Always Free)
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To: MontaniSemperLiberi
The rest of the law won't stop. There are over 2,000 pages in the bill. Bureaucrats are writing thousands of pages of regulations now. Parts of the bill are already implemented, some of the initial parts actually funded by the stimulus bill. Hidden in the 2009 Stimulus was the creation and funding of the 15 member health care advisory panel, the forerunner to the "death panel." This provision was buried in the Stimulus, so that its billion dollar price tag would not be a part of the Health Care bill itself.

To reiterate, Congress must repeal this monstrosity. They can delay portions of it, but they can't stop it.

63 posted on 01/23/2011 4:28:29 PM PST by kabar
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To: kabar

We are almost in agreement with one exception, “Bureaucrats are writing thousands of pages of regulations now.” Those bureaucrats will have to do something else with their time if the House refuses to appropriate money for them to enact regulations.


64 posted on 01/23/2011 4:33:35 PM PST by MontaniSemperLiberi (Moutaineers are Always Free)
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To: MontaniSemperLiberi

As someone who worked for the federal government for 36 years, you couldn’t be more wrong.


65 posted on 01/23/2011 4:38:57 PM PST by kabar
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To: kabar

Ah okay. Never mind. Now I understand. Take your government pension and enjoy.


66 posted on 01/23/2011 4:42:42 PM PST by MontaniSemperLiberi (Moutaineers are Always Free)
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To: MontaniSemperLiberi

LOL.


67 posted on 01/23/2011 10:08:30 PM PST by kabar
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To: kabar
There is no doubt that health care must be rationed.

Correct that to "taxpayer-funded health care must be rationed" and we are in 100% agreement.

It seems that a majority of Freepers are in denial about this reality, which doesn't say much for the electorate at large....

68 posted on 01/24/2011 8:01:34 AM PST by Notary Sojac (We have had three central banks in America's history: two of them failed and so will this one....)
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To: JustaDumbBlonde

Look for any long pro-Palin thread. See how long it takes for the Palinstinians to start ragging on other candidates.


69 posted on 01/24/2011 8:02:47 AM PST by Notary Sojac (We have had three central banks in America's history: two of them failed and so will this one....)
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To: Notary Sojac

There will have to be rationing and I want the patients to be in charge of the rationing, not the government or the insurance companies.


70 posted on 01/24/2011 9:12:35 AM PST by kabar
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To: Notary Sojac

That would be true too, but doesn’t change my comment.


71 posted on 01/24/2011 9:38:52 AM PST by JustaDumbBlonde (Don't wish doom on your enemies. Plan it.)
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To: Walts Ice Pick
We have 54 million on SS, 60 million on Medicaid, 47 million on Medicare, and 43 million on food stamps.
All these welfare programs should be terminated and the sooner the better.

so I paid into what was promised to me as a retirement system(SS) and you want to take the money I worked for, for 50 years and was not allowed to put into a private fund ...and call it welfare? I think your confusing people who worked all their lives.... for zer0bamas constituents in the ghetto...

72 posted on 01/25/2011 1:50:22 PM PST by Vaquero ("an armed society is a polite society" Robert A. Heinlein)
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To: Vaquero
Yeah, you paid taxes like I paid taxes. The "constituents in the ghetto" paid taxes. So, now the taxpayers owe all of us a living.

Welfare is welfare and none of it is constitutional.

73 posted on 01/25/2011 3:33:12 PM PST by Walts Ice Pick ("I'm not going to shut up!" - Sarah Palin)
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To: Walts Ice Pick

supposedly my SS was a paid insurance

and I want it back. I didnt make the crappy law....I would have prefered it would have been privatized or not exist but it does and I was forced to pay into this so called insurance..

if you want to give away the money that was promised to you...go ahead....that means more for me and my family.

I want mine back....


74 posted on 01/25/2011 3:50:02 PM PST by Vaquero ("an armed society is a polite society" Robert A. Heinlein)
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To: Vaquero
I understand the theory. We pay taxes so we are entitled to welfare.

You can see why it's so hard to end these welfare programs and why new welfare programs like the prescription drug "benefit" and Obamacare get passed. Once most people are on the dole, how do you get enough votes to end the welfare programs?

I hope you understand how it will soon end - we run out of money. I trust you'll prepare for that.

75 posted on 01/25/2011 4:01:54 PM PST by Walts Ice Pick ("I'm not going to shut up!" - Sarah Palin)
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To: kabar

Well your exception to the 100% Debt to GDP limit is starting to fall.

http://www.freerepublic.com/focus/f-news/2663992/posts


76 posted on 01/27/2011 5:20:40 AM PST by MontaniSemperLiberi (Moutaineers are Always Free)
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To: Walts Ice Pick
I hope you understand how it will soon end - we run out of money. I trust you'll prepare for that.

I am prepared...I have various funds.

I also paid into this BS for the past 47 years and I will take every dime back that I can....with interest if possible.

this is NOT welfare to me...it is a bad system, Commie FDR and his rubber stamp congress foisted this crap on America near 80 years ago...but as long as it is a separate ‘tax’ where the money was ‘suppose’ to be earmaked(yes I know the b@st@rds take it from the general fund..) as a retirement plan for me...and I busted my @ss to make that money and I want it back....

77 posted on 01/27/2011 5:22:08 AM PST by Vaquero ("an armed society is a polite society" Robert A. Heinlein)
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To: MontaniSemperLiberi

It is not the only exception if you take a look at the global map. Japan is the second largest foreign holder of our debt. Most of Japan’s debt is held domestically. What’s your point?


78 posted on 01/27/2011 8:34:44 AM PST by kabar
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