Skip to comments.Boehner Proposal: Balanced-budget Amendment, Raise Debt Ceiling By $1T, Save $1.2T Over Next Decade
Posted on 07/25/2011 12:46:29 PM PDT by conservativeforpalin
Speaker John Boehners proposal includes a balanced-budget amendment and a raise in the debt ceiling by $1 trillion. The proposed plan would save $1.2 trillion over the next decade.
Fox News reported:
The approach was received from a senior GOP leadership aide and reads as follows:
Two-Step Approach to Hold President Obama Accountable
Republicans insisted if the President wants his debt ceiling increase, the American people will require serious spending cuts and reforms. This two-step approach meets House Republicans criteria by (1) making spending cuts that are larger than any debt ceiling increase; (2) implementing spending caps to restrain future spending; and (3) advancing the cause of the Balanced Budget Amendment without tax hikes on families and job creators. While this is not the House-passed Cut, Cap, & Balance, it is a package that reflects the principles of Cut, Cap, & Balance. Here is more information on the plan:
Cuts That Exceed The Debt Hike. The framework would cut and cap discretionary spending immediately, saving $1.2 trillion over 10 years (subject to CBO confirmation), and raise the debt ceiling by less up to $1 trillion.
Caps To Control Future Spending. The framework imposes spending caps that would establish clear limits on future spending and serve as a barrier against government expansion while the economy grows. Failure to remain below these caps will trigger automatic across-the-board cuts (otherwise known as sequestration).
Balanced Budget Amendment. The framework advances the cause of the Balanced Budget Amendment by requiring the House and Senate to vote on the measure after October 1, 2011 but before the end of the year, allowing the American people time to build sufficient support for this popular reform.
Entitlement Reforms & Savings. The framework creates a Joint Committee of Congress that is required to report legislation that would produce a proposal to reduce the deficit by at least $1.8 trillion over 10 years. Each Chamber would consider the proposal of the Joint Committee on an up-or-down basis without any amendments. If the proposal is enacted, then the President would be authorized to request a debt limit increase of $1.6 trillion.
No Tax Hikes. The framework included no tax hikes, a key principle that Republicans have been fighting for since day one.
In other words, no spending cuts will ever happen. EVER.
When you’re $14.6 Trillion in the hole, $1.2 Trillion over 10 years isn’t gonna get you out of the hole...................
New deal same as old deals, more debts today for nothing tomorrow.
debt ceiling raised this week (so Barky can claim victory and go on vacation)
cuts will come over the next “decade”
What are the numbers for FY 2012?
If Congress wants to balance the budget, they have all the power to do so today. STOP SPENDING THE MONEY.
Simply words on a piece of paper -- they can't constrain a future Congress like that.
No, what we need are real cuts, today. Period. project future savings all you like, but be honest about what's really being cut and what is beyond this Congress' control.
What the hell are they doing? We are 1.6 trillion in the hole just this year. Save a whole 100 billion next year?
Have the dumb gotten dumber?
Are we surrendering? TELL THEM NO MORE SPENDING!
Skru this namby pamby nonsense.
House: here is the plan. pass it or default is yours.
and stop already....
The 2012 election is going to be SOOO much fun.
What a stupid plan. What is with these 10 year gimmicks? They could probably balance it in 5 by going back to 2008 levels and freezing it for 5 years.
How about no
A dollar down and a dollar a month,Great plan!\s
In other words, no spending cuts will ever happen. EVER
It’s called DC Elite Trickery. The plan will allow another Blue- Ribbon Commission to decide what cuts to make. CONGRESS NEVER follows commission recomendations.
Any GOP congresscritter who votes for this plan needs to be primaried. IT DOES NOTHING except punt.
NO RAISING THE DEBT CEILING..PERIOD..what is so hard for these turd brains to understand. We are already bankrupt. Geez I am not even that good at math and I see that raising the debt ceiling is a HORRIBLE HORRIBLE idea
If they can’t cut hundeds of billions in 2012 then there is zero chance that the future supposed cuts will ever materialize. Personally, all I care about is the 2012 cuts.
That might be somewhat good news if the $1T increase would last for an entire decade.
$1 trillion over the next decade will be far exceeded by the dim-bulb-crat graft and corruption increases during that same period.
Like that amount during next year.
$1.2 trillion over a decade is NOTHING and we know they won’t cut a dime.
What would be the point of a Balanced Budget Amendment if even the guy proposing it offers to cut such a piddling amount??
The gov’t is currently running a 4 BILLION $ deficit EVERY DAY. $120 Billion a year for ten years? The $120 billion this year represents 30 days worth of deficits! What about the other 335 days Speaker Boehner. You are nothing more than a tool of special interests if you propose such crap.
REAL CUTS, RIGHT NOW, with future spending capped at 2008 levels for three years. That is what I want to see.
Especially when they will spend the debt ceiling increase in 12 to 18 months and the phantom cuts will be spread out over 10 years. We're going backwards.
Given the current situation (i.e., the Democrats still controlling the Senate and the White House), a punt might be the only feasible option anyway.
A ten year point 2 billion 'savings' that kinetically will tank us in 2-4 years ?
Bullshit ... NO debt criling increase, period.
What part of, "We're broke because of the devil you're negotiating with" don't you get?
Obama did offer one “budget saver” back when.
He offered to raise Medicare eligibility from 65 to 67.... by 2036.
There won’t be an America by 2036!
Don’t try to bring sanity to this argument!
Wow...this thread’s got the DU spirit.
Sounds similar to CC&B to me, I don’t get the bellyaching here.
The US Government is in debt 15 trillion, the US itself 9 trillion, Fannie Mae & Freddie Mac 6 trillion, local and state government, personal debt, banks mortgages and credit card; etc. etc and etc add up to about 52 trillion debt.
Compound interest is threatening to swamp the whole system. People never think about the interest.
These people should be in prison.
This may be the only thing he can do at this point to keep obutthead from using this issue to get re-elected. The longer it drags out, the more the left can use it to pound conservatives. If we can keep the house and gain the senate in 2012 we can fix the cutting part if we hold the congress’ feet to the fire.
If nothing else, the ass hat does not get to shuck and jive his way on this through the next election. I want this deficit wrapped around his neck like a boaconstrictor.
Once again, the GOP caves. Didly sqat over 10 yrs.
Let’s make it easy for them.
Go here and open Rand Pauls 5 Year Budget plan: http://www.campaignforliberty.com/blog.php?view=41227
It’s fully of specific quantified cuts in federal programs across the board. Pick some, and don’t stop until they total at least $3 trillion.
Then get on the boob tube and announced that you have a plan to CUT SPENDING BY $3T and here it is. Name names.
When the SHTF, say OK, you have a better plan, let’s hear it - but remember the total has to come to $3T. Stand back and watch the fun.
Does this sound like a Daddy telling the little darlings at home they have to do without either the movie channels, the NetFlix, the video games, the vacation, the new phone, etc? Well that’s how you deal with people who have the maturity level of children.
Fun’s over kids. Time to pay the bills.
He proposes a balanced budget amendment but is unwilling to propose a balanced budget??
“Somebody stop me, please!”
Amen RB. Amen.
Reducing spending by 120 B annually will still be a Trillion and change added to the deficit each year. So at the end of the ten years, the deficit will be 25 Trillion+. What am I missing?
And I have yet to see any plan indicate money to pay down debt. Wouldn't you expect that?
EVen Harry Reid/Obama’s proposal have bigger faux cuts than this one from Beohner
the markets are expecting about $4 tril. in cuts and a lot sooner than ten years. Otherwise our rating is gonna get lowered anyhow.
This plan will pick up a lot of RAT and RINO votes in the house.
Money upfront, with only promised spending cuts.
Bonehead won’t need the votes of conservatives.
If this is what is to be, I’d let the RINO’s and RATS carry the water on this trickery and expose them for the coming elections.
If this is the way Bonehead passes it, I can guarantee there will primary challenges and many moderates on both sides will be looking for work after 2012.
Bonehead had better enjoy all the sham deals he can pass now.
He will be gone soon enough.
Boehner sold us down the river.
Nothing new here. Nothing to see. Move along./s
Would appear the TEA Party needs to kick more RINOs out of office in the next election, including this knuckle-head BONER.
All they want to do is maintain the debt. Spending money on debt service takes away money from their pet projects. Soon all we will be able to do is pay interest on the debt, 100% of tax revenue will pay for interest. No military and no Medicare, no medicaid, no Social Security, no unemployment, just interest payments...................
Get rid of 14T in the next decade or go to hell Mr. Speaker....and don’t tell us that it can’t be done because that is total BS.
No, the original Boehner-Cantor plan was for $2.7 T. The one Boehner proposed over the last couple of days was just to scare Reid and Obama into offering this (Boehner said he'd go for a shorter deal to keep the issue alive for election '12 if they didn't propose something acceptable so Reid came up with this today).
These people should be in prison.
They would be if they pulled this kind of fraud in the private sector.
Watching Cavuto now...Speaker Boehner, Canotr, many others getting microphone time..one after another they are pointing out that 0bama is doing nothing but concentrating on next November. Each one is slapping him in speech. They are also wearing blue ribbons..is that a show of grief for Norway? Or something else?
Really, it is silly to talk of a plan that involves the next 10 years. In that time, 5 more Congresses and 1-3 more Presidents will be in the WH, and will ignore anything another Congress or President did. Graham-Rudman anyone?
The only true reform is that which acts now and cuts now, in true cuts and not just reduction in increases. And those cuts have to be at least 25% of a budget item, or we’re just playing footsie under the table.
ON HOLD...big backlog of callers right now...
Patriotic Music Playing: America the Beautiful, now Sousa Medley...
They're trading $1 trillion in more debt right now for $1.2 trillion in savings over ten years. That is a net savings of $200 billion over ten years. It's a joke. And the joke's on us....