Skip to comments.BREAKING: Republicans to Vote on $2.4 Trillion in Cuts With Debt Ceiling Increase
Posted on 07/15/2011 10:07:48 AM PDT by Nachum
The Wall Street Journal is reporting House Republicans will vote next week to cut $2.4 trillion over the next ten years while increasing the debt ceiling by a $2.4 trillion.
House Republicans said Friday that they planned to vote next week on a proposal to raise the debt ceiling by $2.4 trillion, with matching cuts and guidelines to control future government spending.
House Majority Leader Eric Cantor (R., Va.) said at a news conference Friday that the House next week would vote on a "cut, cap and balance" approach. The House plans to separately vote on a measure that would amend the U.S. Constitution to require the federal government to balance its budget.
(Excerpt) Read more at townhall.com ...
This is designed NOT to pass the senate.
Even if it does, Obama loses if he signs it.
he swore he would not .. I agree it is not the best, but politically it will infuriate Obama’s base. It is a smart move keeping republicans from taking the blame Obama is trying to lay at their feet.
If Obama vetoes it, which he probably will, since it pushes a balanced budget amendment to the Constitution, it will signal that Obama isn’t serious at all about turning this country around. The GOP remains on offense. They’re offering up stuff Obama opposes to call his bluff.
Which has no chance of passing. This is all one big theatrical production.
Any measure of cuts over 10 years is bogus. Tell us what the cuts are for this year—and that no greater spending will apply going forward.
The democrats sacrifice nothing, because they pay for nothing. Everything the democrats get is free. The tax slaves pay for it all. The tax slaves are now being punished 2.4 trillion dollars for not making their "FAIR SHARE" of government cheese.
“Do the math: $2.4 trillion “reduced” over 10 years vs. an immediate $2.4 trillion in new spending!”
You don’t even have to understand interest to understand this capitulation. The French are alive and well in the hearts of congress. John Kerry is proud.
plus 2.4 trillion - 2.4 trillion is a net zero increase in the debt
that is not capitulation
however, color me distrustful of the ability of congress to actually make actual cuts with this regime in power and a still-weak RINO “gentlemen’s club” component dominating the GOP legislatures.
A democrat’s idea of a cut is to propose $4.8 trillion in new spending, get $2.4 trillion of it, and call the other $2.4 trillion a “cut”
an all-you-can-eat buffet.
Yep. Multiplying by ten is a theatrical device to fool people into thinking they are actually doing something substantive.
It’s time for the Tea Party to target all alleged conservatives who vote in favor of this asinine plan. THEY MUST GO ASAP.
But, the cuts won't ever happen.
I’ll glad you pay you Tuesday for a hamburger today.
STUPID, STUPID, STUPID! LIES, DECEPTION and DECEIT!
TO HELL WITH THEM ALL! TIME TO THROW THEM ALL OUT!!
The debt limit will be reached again in less than 2 years!
2.4 tril in 10 years 240 bil / year in cuts
Deficit now abt. 1.2 to 1.4 tril
so the deficit rate is STILL 1 tril a year!
What good does this do? NOT ONE DAMN BIT of good is what it does!
If he DOES sign it, it’s a crappy deal that makes NO cuts for the long term.
The goal is to cut more than the amount by which we raise the debt limit.
$2.4T = $2.4T
I know they will have upwards of 70k less revenue from my household. We are going to retire early and hunker down.
Nothing is going to get fixed until we have a new President and Senate after the next election.
Ifr the GOP sells out, then we need to find a way to hold back money from the federal gov't.
I don’t see any news channel talking about this press conference. When did this press conference take place? There must be video. All the pundits are still debating what is going to happen.
Finally. The end of the GOP. Now, perhaps we can get serious.
For the second time in history the tax slaves cried out for their freedom. They elected Republicans on a promise they'd be free once again.
Someday, we'll be able to raise our voices and cry out "Free, free, free at last. Thank God Almighty we're free at last."
No man should be forced to be another mans slave. Share the WORK, and let the wealth share itself!
Once again the polidiots think they passed one over on us. They have for years claimed future congresses will make those cuts but future congresses are in no way obligated to do so nor have they ever done so.
Obama overspends by over 100 billion dollars EVERY MONTH!
10 years? Pathetic!
At the current rate of over-spending, the Dems will run up another 12 trillion dollars of debt in 10 years!
Oh! Wait! It's a "political" ploy!
Repubs play politics while Dems go for the throat.
Message to the GOP: Since you did not understand NO, here's comes a big case of F*** NO!
The bill won’t pass in the Senate because Dingy Harry said he will oppose any and all such “cuts”.
Split the bill. First the cuts. Then the balanced budget amendment. Then the debt limit raised. First things first!
New score: Democrats 535 America 0 . This will be an unmitigated victory for Obamalamadingdong. These are the same fools that got us that sweet budget deal earlier this year where some $300 Billion in cuts wound up being closer to $300 Million. But they got invited to play golf, have cocktails and laugh at the fools who elected each and every one of them. So that's something.
Writes much says little and commits to nothing.
What is a politician?
Useless, mealy mouthed idiot.
Well, instead of spending roughly 1.5 trillion more than comes in, each year, the average is to now spend only 1.25 trillion more per year, than comes in. So, roughly speaking, yeah, a 2.4 trillion increase in the debt limit runs out in about 2 years, and Congress is right back where we are today, except deeper in debt, and hemorrhaging.
It’s called Starve the Beast 2.0, most likely to escalate after 2012 election if Democrats and RINO’s aren’t diminished
They talk tough and swing a toothpick.
What did Trump call their style? ElFoldo, isn’t that the truth?
You are forgetting that the President has absolutly no say in Constitutional Amendments. An amendment requires a 2/3 majority of each house of congress followed by approval of 3/4 of the states. Presidental approval is not required.
See Article V of the US Constitution.
We can live without big governments money, but big government can't live without ours. Starve the beast.
CONTACT YOUR CONGRESSMAN
IF THEY THOUGHT THE PHONES WERE MELTING OVER OBAMACARE- SEND THEM RUNNING!
We are so stupid to think the GOP had found a spine...
I am more interested in a ballanced budget amendment.
over ten years a ballanced budget will help the national DEBIT. not to be confused with the annual deficit.
So, to raise revenues by more than 50% to balance the oblabla budget you would have to raise individual income taxes by 100%... double the tax rates, in order to raise all the revenue from individual income taxes.
EFF that crap!
The constitution gives Congress the power to regulate the value of money, and to borrow money. It does not set any limits on either.
The flip side of this is that the US financial situation is Congress's doing, period.
I do agree, the country is dead. All three branches of the federal government are corrupt beyond redemption. It can't collapse fast enough to suit me. No sense in communicating with them either, unless it makes you feel better. They have no care what the public thinks.
Pallbearer hell... I’m willing to be an Executioner at this point.
Gee, do you think that’s a form letter?
My bet is that if you wrote to all 100 senators, you would get exactly the same reply from at least 90 of them, the only difference being the names.
Bachmann is my Rep. She might be an OK Prez candidate, but as a Rep she is notorious for not responding to emails...
Fool me once...
The Republicans are digging their heels in and now insisting that the poor sacrifice even more to pay for the rich and their private jets.
But, when the bill reaches his desk, he'll have no choice but to shut up and sign it.
Otherwise, any default is his fault!
His bluff has been called. And he's trapped.
The Republicans are toast. There won’t be a one of them re-elected if they give in on the debt ceiling.
Why not just say $24 trillion reduction over the next 100 years? They’re telling us it’s raining while they’re whizzing on our shoes.
Not sure if I should laugh or cry.
I wonder how much money Americans could suck back outta the federal coffers if we tried....
Right. The new debt limit will pay for the cuts, so they don't have to cut at all, and we're right back where we started - broke. The democrats sacrifice nothing, and the taxpayers are stuck with an extra 2.4 increase in spending anyway.
So let me see if I got this right...Honey we need to cut our spending by 10,000 dollars a year over the next 5 years but don’t be upset, you can spend $50,000 more on your master card today. Yeah that’s gonna work.
That will never work. There are millions of idiots out there that don’t pay attention to how much is withheld, and gladly give the government an interest free loan, every year. These are the people that then giggle with glee when they get a huge refund, never understanding that it was their error and that they overpaid in the first place. They believe that the refund is like an “extra payday” or something. They actually make hypothetical plans about how they will spend next year’s refund, like buying a new fridge or paying for a vacation. They plan their own budgets based upon faulty understanding of how they could have saved themselves the higher tax bill in the first place.
It gets rid of $2.4 trillion in planned spending. Why is that not good?
It removes the issue from the table until after the 2012 election. When we ought to have a GOP President and Senate majority -- which can then address the problems in a way that they can never be addressed with Barack Obama as President. How is that not good?
It creates a big PR win for the Republican House -- since they are doing their job in a way that independent voters can understand, appreciate and approve. How is that not good?
It puts the onus squarely where it belongs -- on the Democrat Senate to pass the bill and the President to sign it. If they fail to do their job, then "default" is their fault. How is that not good?
Don't you want to make progress? Turning this thing around is not a one-day project.
It'll be hell, but it's the only way to learn and do it right the next time. Taking money from one group and giving it to another in exchange for a vote has caused all this.
When people are all forced to get back to the soil, at least everyone would be responsible for their own keep, and slavery truly would come to an end. The words "leader" and "government" would be forbidden.