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Keyword: budgetdeal

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  • Sen. Cruz: Republican Leadership's Budget Deal Gives President Obama a Blank Check

    10/30/2015 3:16:50 PM PDT · by Isara · 14 replies ^ | October 30, 2015
    Sen. Cruz: The Budget Deal Is a Corrupt Betrayal of the American People (video) WASHINGTON, D.C. — Upon the Republican leadership’s passage of the Obama-Boehner Budget Deal, a backroom agreement to grow our nation’s debt and bust responsible budget caps, U.S. Sen. Ted Cruz (R-Texas) issued the following statement after voting against this reckless bill:“Pay no attention to another roughly $80 billion in debt. Pay no attention to the fact that it is the Republican-controlled Congress giving an unlimited credit card to Barack Obama, scheduling votes at 1 o’clock in the morning, and hoping that no one notices.“How is it...
  • Senator Cruz on Budget Deal (1.5+ hr video)

    10/30/2015 1:46:08 PM PDT · by posterchild · 12 replies
    c-span ^ | Oct 29, 2015 | Senator Ted Cruz
    Senator Ted Cruz (R-TX) spoke about his opposition to the budget and debt ceiling agreement. He was critical of Senate Majority Leader Mitch McConnell (R-KY), President Obama, and Senate Democrats over the deal.
  • Cruz: Budget deal the 'cartel in all of its glory'

    10/30/2015 1:11:18 PM PDT · by Isara · 13 replies
    The Hill ^ | October 29, 2015 | Jordain Carney
    Sen. Ted Cruz (R-Texas) on Thursday evening slammed a two-year budget agreement hours before an expected vote, suggesting it was the "cartel in all of its glory." "It is difficult to find a better illustration of the Washington cartel than the charade we are engaged in this evening," he said, speaking from the Senate floor for more than an hour. "This represents the cartel in all of its glory." He added that the two-year budget deal - which also increases the debt ceiling - is both "shockingly bad" on policy but also "a manifestation of the bipartisan corruption that suffuses...
  • Sen. Cruz: This Budget Deal Is a Corrupt Betrayal of the American People (Video)

    10/30/2015 8:58:41 AM PDT · by Isara · 25 replies ^ | October 29, 2015
    Delivers powerful speech blasting the Washington Cartel Sen. Cruz: The Budget Deal Is a Corrupt Betrayal of the American People (video) WASHINGTON, D.C. — U.S. Sen. Ted Cruz (R-Texas) today delivered a speech on the Senate floor, denouncing the shockingly bad budget deal and outlining the Republican establishment’s multitude of broken promises.Excerpts of Sen. Cruz’s speech can be read below. Watch the speech in its entirety here. “Mr. President, for many months, I’ve been speaking about what I call the Washington Cartel. The Washington Cartel consists of career politicians in both parties who get in bed with lobbyists and special interests...
  • House Freedom Caucus will oppose the budget deal

    10/28/2015 10:07:08 AM PDT · by SeekAndFind · 40 replies
    Hotair ^ | 10/28/2015 | Jazz Shaw
    We found out earlier this morning that Paul Ryan has changed his mind and will reluctantly support the upcoming budget deal even though “the process stinks.” Rand Paul wants nothing to do with it and wants to filibuster it in the Senate. But will it even get that far? We found out from the House Freedom Caucus earlier today that they will be opposing the scheme for a variety of reasons. Washington, DC – The House Freedom Caucus issued the following statement related to the Bipartisan Budget Act of 2015, H.R. 1314:“The latest budget deal continues the sad pattern...
  • Cruz rips compromise budget deal

    10/27/2015 2:54:39 PM PDT · by Isara · 13 replies
    Politico ^ | 10/27/15 | Burgess Everett
    Ted Cruz launched a searing critique of Capitol Hill's bipartisan budget deal on Tuesday afternoon, slamming outgoing House Speaker John Boehner for leaving Congress via a "golden parachute" and accusing GOP leaders of capitulating to President Barack Obama."It is complete and utter surrender," Cruz said. "We now have a GOP Congress, but no one watching this budget surrender would know it." Though dozens of Capitol Hill Republicans have knocked the compromise legislation, Cruz's criticisms stood out from the rest of the pack just a day before he will take the GOP debate stage in Colorado. And they continued his running...
  • Boehner On Debt Ceiling Deal: Process "Stinks" But Alternative Was Default

    10/27/2015 8:54:34 AM PDT · by SeekAndFind · 44 replies
    Zero Hedge ^ | 10/27/2015 | Tyler Durden
    When we presented America's new debt ceiling of $19.6 trillion lasting through March 2017 last week... ... some took offense saying a debt ceiling deal is nowhere near done, and that the conservatives would at least put up a token fight. A few days later, the deal is virtually complete, the Freedom Caucus has been isolated, Paul Ryan never even got his hands dirty, and Boehner has caved one last time corporate/democratic prerogatives, precisely as we said would happen. Yes, the republicans will pretend to demand concessions, such as a balanced budet and other "sound money" conditions but they...
  • Washington just reached the mother of all budget deals of the Obama era

    10/27/2015 8:40:13 AM PDT · by SeekAndFind · 49 replies
    Business Insider ^ | 10/27/2015 | Brett LoGiurato
    It's not the ever elusive "grand bargain." But Washington may have solved almost all of its budget problems through the 2016 presidential election. Congressional leaders and the White House came to tentative terms on a major budget deal in the wee hours of Tuesday morning one that could stave off many of the fiscal land mines remaining through next year's election and beyond. Its passage is far from certain, but it will most likely be the final act for House Speaker John Boehner (R-Ohio) before he leaves Congress at the end of the week and hands over the role...
  • White House, Congressional Leaders Reach Tentative Budget Deal

    10/27/2015 12:14:40 AM PDT · by Nextrush · 36 replies
    NBC News ^ | 10/27/2015 | Frank Thorp V and Alex Moe
    Congressional leaders have reached a breakthrough tentative budget deal with the White House that would set government funding levels for the next two years and extend the nation's debt limit through 2017, avoiding routine talks of a government shutdown. The 144-page bipartisan funding bill, labeled a 'discussion draft,' was posted online just before midnight setting up a potential vote in the House as early as Wednesday. If approved, the agreement would be a milestone after years of gridlock and annual threats of government shutdowns......
  • GOP plans to honor budget deal, even if Republicans win Senate

    10/05/2014 5:38:48 AM PDT · by cotton1706 · 40 replies ^ | 10/5/14 | Rebecca Shabad
    House Republican appropriators say they will follow the two-year budget deal reached after the 2013 government shutdown regardless of who wins control of the Senate in Novembers elections. Winning the Senate would give the GOP more leverage in spending fights with the administration, but GOP lawmakers have signaled they don't want to open a new bruising war over spending by rolling back the 2013 budget deal, in which Rep. Paul Ryan (R-Wis.) and Sen. Patty Murray (D-Wash.) agreed to spending caps for the government for the 2014 and 2015 fiscal years. On the cusp of an election that could deliver...
  • Military disabled, retirees take hit under budget deal nearing passage in U.S. Senate

    12/18/2013 6:06:10 PM PST · by SkyPilot · 15 replies
    For Floridas nearly 200,000 military retirees more than any state except Texas a budget deal moving through the U.S. Senate Wednesday is projected to shave $20 billion dollars from the countrys deficit in ways that have many veterans organizations outraged. The legislation struck by House Budget Chairman Rep. Paul Ryan and Senate Budget Committee Chairwoman Patty Murray has a provision that drops the cost of living allowance for military retirees and disabled veterans to 1 percentage point below inflation. That is, if inflation for a given year is 3 percent, cost of living adjustments will rise only 2...
  • Cynical Schultz: Budget Deal's Dodging of Shutdown 'Bad News' For Dems

    12/18/2013 3:38:19 PM PST · by governsleastgovernsbest · 4 replies
    NewsBusters ^ | Mark Finkelstein
    All those sanctimonious tears shed by Democrats over how the government shutdown hurt Americans? Turns out they were of the crocodile variety. Ed Schultz gave away the game in opening his show tonight. Avoiding another shutdown is "bad news" for Democrats, said Schultz. View the video here.
  • Paul Ryans Deal Throws away 2014 Advantage

    12/18/2013 8:34:10 AM PST · by Moseley · 20 replies
    Canada Free Press ^ | December 18, 2013 | Jonathon Moseley
    Republicans in the United States just damaged their chances of winning elections in 2014, while trying to increase their chances. That is what is wrong with the Republican Party: A total failure to properly diagnose or understand the Partys circumstances cripples it. Obama lied. He broke his promises about ObamaCare. Broken faith is melting the Democrats hopes of winning elections in 2014. Obama cannot smooth-talk voters back who no longer trust him and are no longer listening. Republicans had to save the Democrats and throw away the GOPs advantage for 2014. Republicans broke their own promise to the voters ...
  • The Air Boehner Tax ["Sorry. My Irish is up."]

    12/17/2013 4:09:49 AM PST · by Cincinatus' Wife · 26 replies
    The American Spectator ^ | December 17, 2013 | Jeffrey Lord
    He is the new tax collector for the welfare state. And House Speaker John Boehners latest gift to the American people a 124% tax increase on air travel can aptly be called The Air Boehner Tax. But firsta short time travel trip. The date: Monday. January 11, 1982 The place: The White House Wrote President Ronald Reagan in his diary of this day: Repub. House Leaders came down to the W.H. Except for Jack Kemp they are hl bent on new taxes Another date: Wednesday, August 4, 1982 The place: The White House. Another entry from Reagans diary:...
  • Dems lack Sanders vote on budget deal

    12/16/2013 9:47:47 AM PST · by Cincinatus' Wife · 12 replies
    The Hill ^ | December 16, 2013 | Erik Wasson
    Sen. Bernie Sanders (I-Vt.) has not yet committed to supporting the new House-Senate budget deal, which could prove problematic for those looking to lock down 60 votes for the measure. Last week Sanders issued a statement praising the deal for not cutting entitlement benefits like Medicare and Social Security, but as of Monday he has not said he would support a cloture vote on the deal, according to an aide. The budget deal will need 60 yays when the votes to cut off debate comes up on Tuesday. Democratic leaders expect they will get all 53 Democrats on board, according...
  • Fact Check: Paul Ryan Twisted Truth to Sell Budget Deal to House

    12/15/2013 12:41:44 PM PST · by bigbob · 33 replies ^ | 12-14-13 | Matthew Boyle
    House Budget Committee Chairman Rep. Paul Ryan (R-WI) misled his colleagues in the House of Representatives about several major areas of the budget deal he cut with Senate Budget Committee Chairwoman Sen. Patty Murray (D-WA), Breitbart News has learned. Misrepresentations include serious budget details ranging from how much deficit reduction is actually in the plan to how spending in this plan compares to spending if the current law, the Budget Control Act (BCA), remains the law of the land. The budget deal passed the House 332-94 on Thursday evening, with 169 Republicans voting for it and 62 Republicans voting against...
  • Durbin: GOP presidential ambitions and Tea Party challengers imperil budget deal

    12/15/2013 11:01:55 AM PST · by Cincinatus' Wife · 23 replies
    The Hill ^ | December 15, 2013 | Alexander Bolton
    Senate Democratic Whip Dick Durbin (Ill.), the second-ranking Senate Democratic leader, said Sunday that Republicans jockeying for the White House in 2016 and Tea Party challengers in 2014 have imperiled the budget deal. Durbin estimated that Democrats will lose three members of their caucus on the vote, which means theyll need at least eight Republicans to cross the aisle and vote with them. The challenge Democratic leaders face in trying to round up the vote has been compounded by the outspoken opposition to the deal from Republicans weighing presidential bids and a slew of Republican primary races in 2014. A...
  • How not to handle internal party divisions - Democrats dont attack their constituents

    12/14/2013 6:51:15 AM PST · by Cincinatus' Wife · 21 replies
    Red State ^ | Dedember 13, 2013 | John Hayward
    While others in these parts have teed off with admirable vigor on House Speaker John Boehners oddly shrill anti-conservative budget deal offensive, Id like to offer a little something to study in contrast: Senator Mary Landrieu (D-LA) pulling the rip cord and trying to blast herself clear of the ObamaCare tailspin. Heres the Landrieu ad: [snip] This is all a bit much to swallow given the role Landrieu played in dumping ObamaCare on us, but its also amusing to see Barack Obama get a dose of his own Empty Chair medicine. Shes doing what Obama does: pretending she just arrived...
  • You Deserve A Break Today

    12/13/2013 7:04:56 PM PST · by Noremac · 1 replies
    Blasted ^ | December 13, 2013 | Richard Cameron
    Forget the Dubai Mall or the New South China Mall...THIS is the World's most expensive shopping mall, and as far as our lawmakers are concerned, you can NEVER have enough shoes. Imelda Marcos would be scandalized. Hello Dear Readers. I've been sidelined for awhile by my own inexplicable sense of invincibility. It's beyond comprehension or explanation because my 'bulletproof' teen years are long behind me. So it's lingering immaturity, but in spite of myself and prior warnings, I set up a work ladder underneath the rain gutter on my home to clear them from leaves. The result? While standing on...
  • Will Warren Wing scuttle budget deal? (Senator Sessions to lead Filibuster)

    12/13/2013 5:02:50 PM PST · by Red Steel · 8 replies
    Fox ^ | December 13, 2013 | Chris Stirewalt
    WILL WARREN WING SCUTTLE BUDGET DEAL? - Speaker John Boehner delivered on his promise to pass a bipartisan budget bill through the House, and hes taking plenty of blowback from conservatives for it. But the real test for the two year can-kick seems to be whether Senate Majority Leader Harry Reid can tame an increasingly unruly liberal wing of his own party. Far-left senators like Elizabeth Warren, D-Mass., Sherrod Brown, D-Ohio, Al Franken, D-Minn., Tom Udall, D-N.M. and Bernie Sanders, I-Vt., cant be happy about maintaining more than half of the spending caps from the 2011 debt-limit deal and making...
  • Paul Ryan says Marco Rubio should 'read the deal and get back to me'

    12/12/2013 10:20:20 AM PST · by SeekAndFind · 138 replies
    The Hill ^ | 12/12/2013 | Rebecca Shabad
    Rep. Paul Ryan (R-Wis.) on Thursday pushed back on criticism to the budget agreement reached with Sen. Patty Murray (D-Wash.), saying he wants Sen. Marco Rubio (R-Fla.) to "read the deal and get back to me." In a post on on Wednesday, Rubio wrote that the deal would continue to make it harder for Americans to achieve the American dream. Ryan was asked on MSNBCs Morning Joeon Thursday what he would say to Rubio. Read the deal and get back to me, Ryan said. Rubio was one of the first lawmakers to express opposition to the budget, even before...
  • Paul Ryan Gave Away the Sequester, Along With Fiscal Discipline

    12/12/2013 8:39:43 AM PST · by SeekAndFind · 15 replies
    RCM ^ | 12/12/2013 | Wayne Brough
    With the clock quickly winding down on the legislative year, Congress has cobbled together a budget deal, something they have failed to do since April 2009. The details have yet to be finalized, but many are praising it as a return to regular order, ending the budget brinksmanship that dominated Washington for most of Harry Reid's tenure as Senate Majority Leader. Unfortunately, the budget deal breaches the spending caps created under sequestration-the only measure of fiscal discipline that has made it through Congress in recent years-in exchange for promises of budget cuts down the road. Rep. Paul Ryan (R-Wis.) and...
  • Hidden disaster in new budget: Demonic plot to raid pensions

    12/12/2013 3:09:04 AM PST · by Cincinatus' Wife · 44 replies
    Salon ^ | December 11, 2013 | David Dayen
    2013 has not been a pleasant year if you work for the federal government. Youve been subject to pay freezes, furloughs and shutdowns. One of you got yelled at by a Tea Party Republican at the World War II memorial. And if Congress passes the budget deal announced Tuesday night by Rep. Paul Ryan and Sen. Patty Murray a big if you will get a final Christmas present: Youll have to pay more into your pension, an effective wage cut that just adds to the $114 billion, with a B, federal employees have already given back to the...
  • Some Thoughts on the Budget Deal

    12/11/2013 10:10:15 AM PST · by SeekAndFind · 23 replies
    National Review ^ | 12/11/2013 | Yuval Levin
    The actual text of the Ryan-Murray budget deal came out late last night, so its only now possible to really consider the particulars and see how it looks. It seems to me that the details look a fair bit better than the general outline that had been reported in the press over the past week or so, particularly on the question of whether the entitlement cuts that would replace some discretionary sequester cuts could be expected to actually materialize. As it stands, this strikes me as more or less a very small-scale version of the sort of thing that Republicans...
  • Wallace: I'm A Coburn/Axelrod 'Groupie'; Coburn: Budget Deal 'Sells Out'

    12/11/2013 6:46:31 AM PST · by governsleastgovernsbest · 11 replies
    NewsBusters ^ | Mark Finkelstein
    Nicolle Wallace played the quintessential DC insider on today's Morning Joe, proclaiming herself a "groupie" of both conservative Senator Tom Coburn and liberal partisan David Axelrod, while also saying she was "inspired" by Paul Ryan's leadership in forging a budget compromise deal. But the Sooner senator wasn't letting the inside-the-Beltway bonhomie blunt his criticism, saying the budget deal "sells out" what needs to be done, and gives up "core values." View the video here.
  • Budget Deal Reached - Real Compromise Or More Of The Same?

    12/11/2013 3:38:17 AM PST · by LD Jackson · 25 replies
    Political Realities ^ | 12/11/13 | LD Jackson
    Let's get something out of the way. I know we are in an era of divided government and that we can not expect to achieve all of our conservative goals. That's a given fact. If we expect to achieve anything, we must be willing to compromise on some issues. That's what Paul Ryan is already saying as he tries to sell the new budget deal he has reached with Democratic Senator Patty Murray to his fellow Republicans.I also know we have moved from government crisis to government crisis with predictable reliability. No budget deal has been reached for years. Our...
  • Ryan-Murray Budget Deal Eliminates Spending Cuts

    12/10/2013 3:24:59 PM PST · by Olog-hai · 53 replies
    Newsmax ^ | Tuesday, 10 Dec 2013 05:53 PM | Todd Beamon
    Congressional budget negotiators have reached a two-year agreement aimed at avoiding a government shutdown on Jan. 15 and setting federal government spending levels through Oct. 1, 2015. Democratic Senator Patty Murray and Representative Paul Ryan scheduled a news conference for 6 p.m. EST to announce the details of the deal they worked out. As details of a budget deal trickled out of Washington on Tuesday, conservative groups prepared to oppose any agreement that would alter the automatic spending cuts from the 2011 deal. Republican and Democratic negotiators budget agreement would stop as much as $65 billion in sequestration cuts...
  • Senator Mitch McConnell continues to build his PIG FARM

    10/18/2013 6:16:13 AM PDT · by topher · 12 replies
    Various | October 18, 2013 | Vanity
    There are a number of URLS to look at for the story on the Pork Barrel deal that ended the shutdown. This was a $3 billion project for Illinois and Kentucky (something for Obama and something for Senator McConnell): Politico: Conservatives accuse Mitch McConnell of 'Kentucky kickback' in spending deal Marketwatch 'blog': Debt-ceiling bill funds Kentucky dam project to ire of McConnell foesThere's a little pork in that bill: The 5 most surprising provisions in the debt deal Maybe each of these stories should have their own thread. Or maybe Repbulicans should focus on the fact that the Republican Senate...
  • Obama Will Insist on Tax Hikes in Budget Deal

    10/17/2013 6:57:38 AM PDT · by Olog-hai · 35 replies
    Cybercast News Service ^ | October 17, 2013 - 6:46 AM | Susan Jones
    As part of the deal to end the government shutdown and extend the debt limit, the House and Senate have agreed to begin long-stalled budget negotiations. The conferees planned to meet Thursday morning for breakfastto break the ice, the Associated Press reported. Once the actual talks get underway, President Obama will insist that tax hikes be part of the solution. The president has insisted that in the budget negotiations that hes been calling for all year, everything has to be on the table. And that will be his position going forward, White House spokesman Jay Carney told reporters on Wednesday....
  • US debt ceiling: Senate passes US budget deal (81-18)

    10/16/2013 5:33:28 PM PDT · by NormsRevenge · 42 replies
    BBC News ^ | 10/16/13 | BBC
    The US Senate has passed a bill to reopen the government and raise the federal debt limit, with hours to spare before the nation risks default. The Democratic-controlled Senate's bipartisan compromise won swift approval by 81 votes to 18. It will now be sent to the House of Representatives, whose Republican leadership has begrudgingly said it will support the measure. It comes hours before the deadline to raise the $16.7tn (10.5tn) limit. President Barack Obama is set to speak shortly at the White House. The deal would extend the federal borrowing limit until 7 February and fund the government to...
  • Unions poised to win delay of ObamaCare tax in budget deal

    10/14/2013 6:07:39 PM PDT · by Ernest_at_the_Beach · 25 replies
    The Hill ^ | 10/14/13 05:25 PM ET | Elise Viebeck -
    Labor unions are poised to score the delay of an ObamaCare tax in the bipartisan budget deal emerging in the Senate. The bargain under negotiation would make small adjustments to the healthcare law, including delaying the law's reinsurance fee for one year. The three-year tax is meant to generate revenue that will stabilize premiums on the individual market as sick patients enter the risk pool. The tax applies to all group health plans, but unions argue it will raise their healthcare costs while providing them no benefit. The reinsurance tax figured prominently in discussions at a recent AFL-CIO convention, where...
  • Congresswoman to Obama: 'Stop Scaring People' (YouTube Video)

    02/27/2013 2:13:21 PM PST · by lbryce · 5 replies
    FreedomBrief ^ | February 27, 2013 | Staff
    I've felt this speech important enough to make the effort to convert the speech to text for those who don't want to go through the video (It's only 1:21) of the speech by Rep. Lynn Jenkins (R-Kan). I've listened to the video many numerous times to assure accuracy of what she says in the video. Rep. Lynn Jenkins (R-Kan;) ..that amounts to over 2.5% of the federal budget, find me an American family, a hard working taxpayer who hasn't already cut over 2% of their budget at home without cutting essentials things. There's a fact that says we are going...
  • Now Euro MPs want a secret vote to block budget deal and defy the 27 leaders

    02/08/2013 10:38:16 PM PST · by Olog-hai · 3 replies
    Daily Mail (UK) ^ | 20:38 EST, 8 February 2013 | James Chapman
    Euro MPs prompted uproar last night by plotting to try to block the budget deal using a secret ballot so voters cannot hold them to account. It emerged that they are planning to use a little-understood procedure to allow them to vote in private and defy the 27 EU leaders. Martin Schulz, president of the European Parliament and former leader of its socialist group, suggested a vote on the budget should be conducted in secret to allow MEPs to break away from prime ministers and party leaders and maximize the chances of it being rejected. A vote behind closed doors...
  • 5 Ways the 2012 Election Has Changed Since the Super Committee's Failure

    11/30/2011 9:58:53 AM PST · by Kaslin · 8 replies ^ | November 30, 2011 | Matt Mackowiak
    The 2012 political year is right around the corner and the recent failure by the so-called "Super Committee" to reach agreement on $1.2 trillion in deficit reduction will re-cast the environment on Capitol Hill and shape the 2012 campaign. With divided control of Congress, and a 60-vote threshold in the U.S. Senate, major Congressional action before the 2012 election is now extremely unlikely. Congress always seems to need a deadline to make the members focus on the country's business, and December promises to be a busy month. It's likely that members of Congress will do the following: - Pass yet...
  • Obamas Bad Bargain (the left is becoming unhinged)

    08/03/2011 9:54:12 AM PDT · by Huskrrrr · 50 replies
    The Nation ^ | July 27, 2011 | William Greider
    The most distressing outcome of the deficit hysteria gripping Washington may be what Barack Obama has revealed about himself. It was disconcerting to watch the president slip-slide so easily into voicing the fallacious economic arguments of the right. It was shocking when he betrayed core principles of the Democratic Party, portraying himself as high-minded and brave because he defied his loyal constituents. Supporters may hope this rightward shift was only a matter of political tactics, but I think Obama has at last revealed his sincere convictions. If he wins a second term, he will be free to strike a truly...
  • CA: Budget deal could jeopardize high-speed rail, clean-water programs

    08/03/2011 8:58:37 AM PDT · by NormsRevenge · 14 replies
    Mercury News ^ | 8/3/11 | Karen de S and Steven Harmon
    The federal government may have staved off the imminent threat of default Tuesday when President Barack Obama signed a bitterly fought budget deal, but the woes and uncertainty for states have just begun. In California, some of the most likely cuts include nutritional programs for low-income women and children, the federal portion of the controversial high-speed rail project, clean drinking water programs, and subsidies for farmers. Also potentially at risk are federally funded university research projects and military bases, policy-watchers said Tuesday after hastily reviewing the plan to cut national spending by $2.1 trillion over 10 years. None of the...
  • Spending Cuts Seen as Step, Not as Cure (Does Not Actually Reduce Federal Spending) (!!?&?%#!!!)

    08/02/2011 8:44:23 PM PDT · by lbryce · 10 replies
    New York Times ^ | August 2, 2011 | BINYAMIN APPELBAUM
    There is something you should know about the deal to cut federal spending that President Obama signed into law on Tuesday: It does not actually reduce federal spending. By the end of the 10-year deal, the federal debt would be much larger than it is today. Indeed, both the government and its debts will continue to grow faster than the American economy, primarily because the new law does not address federal spending on health care. That is the reason that the ratings agency Standard & Poors and its rivals still are threatening to remove the United States from their lists...
  • Maxed Out America: Coming Sooner Than You Think

    04/25/2011 6:21:54 AM PDT · by Kaslin · 13 replies
    Pajamas Media ^ | April 25, 2011 | Tom Blumer
    The U.S. will hit the borrowing danger zone in far less time than we've been led to believe. This is why the "Maxed Out America" initiative of the PJ Institute demands the immediate attention of the political class and the American people. Washington’s recent budget deal represents at best a tiny baby step in the right direction. What is at stake in the budget battles to come is exponentially higher. This is why the “Maxed Out America” initiative of the PJ Institute demands the immediate attention of the political class and the American people. Everyone knows that an individual or...
  • Boehner the Enabler

    04/19/2011 8:14:30 PM PDT · by bronkburnett · 6 replies
    World Net Daily ^ | 4/19/2011 | Michael Master
    ...The CBO claims that the $38 billion cut from the discretionary budget will only yield an additional $352 million cut from actual spending in 2011. The method used for reducing the discretionary budget was to move $23 billion to the mandatory spending budget from the discretionary budget. All the other cuts they claimed as part of the deal were already in place or for programs that had money that would not be spent... they reduced the discretionary budget but did not reduce actual spending.... Boehner, Obama and Reid ... all said that they cut $38 billion dollars out of...
  • Why Are Geithner and Bernanke Trying to Panic Financial Markets with Debt Limit Demagoguery?

    04/15/2011 8:19:12 PM PDT · by yup2394871293 · 31 replies ^ | 4/15/11 | Dan Mitchell
    By taking advantage of must-pass pieces of legislation, Republicans have three chances this year to restrain the burden of government. They didnt do very well with the CR fight over appropriated spending for the rest of FY2011, which was their first opportunity. I was hoping for an extra-base hit off the fence, but the GOP was afraid of a government shutdown and negotiated from a position of weakness. As such, the best interpretation is that they eked out an infield single.The next chance to impose fiscal discipline will be the debt limit. Currently, the federal government only has the...
  • Alan West: Boehner Needs to Come to Jesus on the Budget. Votes 'No' Against the Measure.

    04/14/2011 12:57:55 PM PDT · by SeekAndFind · 12 replies
    National Review ^ | 04/14/2011 | Robert Costa
    The House will vote on the BoehnerWhite House spending deal this afternoon. Outside of the chamber, Republicans predict that the measure will pass, though numerous defections are expected, according to aides. One tells us that some members will likely watch the clock, waiting until Republicans hit 218, and then vote nay. As the vote nears, Tea Party heroes within conference are spoiling for a last-minute rumble. Rep. Allen West (R., Fla.) tells reporters that House GOP leaders bungled the deal. My leadership needs to sit down and have a come to Jesus with [each other], he says. Character and integrity...
  • Will Boehner Survive Budget Deal and Troop Funding Shenanigans?

    04/13/2011 9:34:03 PM PDT · by kristinn · 25 replies
    Thursday, April 14, 2011 | Kristinn
    National Review calls it "strike one" for John Boehner's speakership. The numbers are stunning. According to the Congressional Budget Office, the budget deal for FY 2011 struck by Speaker of the House Boehner, Majority Leader Harry Reid and President Barack Obama will reduce spending by a paltry $352 million.The $38.5 billion spending reduction deal announced late last Friday night by Obama, Boehner and Reid has been exposed upon analysis as smoke and mirrors.A comparison prepared by the CBO shows that the omnibus spending bill, advertised as containing some $38.5 billion in cuts, will only reduce federal outlays by $352 million...
  • CBO: Budget deal cuts this fiscal years deficit by just $353 million

    04/13/2011 2:45:29 PM PDT · by Da Bilge Troll · 12 replies
    The Washington Post ^ | April 13, 2011 | AP
    WASHINGTON A new budget estimate released Wednesday shows that the spending bill negotiated between President Barack Obama and House Speaker John Boehner would produce less than 1 percent of the $38 billion in claimed savings by the end of this budget year. The Congressional Budget Office estimate shows that compared with current spending rates the spending bill due for a House vote Thursday would pare just $352 million from the deficit through Sept. 30. About $8 billion in cuts to domestic programs and foreign aid are offset by nearly equal increases in defense spending.
  • $38 Billion In Cuts? Make That $353 Million

    04/13/2011 2:46:41 PM PDT · by Praxeologue · 18 replies
    Zero Hedge ^ | April 13, 2011 | Tyler Durden,NdP
    Yesterday the media had a field day when it was uncovered that the hard fought $38 billion in budget "cuts" which almost caused America to shut down were in reality $14 billion. We, thus, can't wait to find out what the response will be when it is uncovered that the actual cuts were... $353 million. Yes: the ongoing functioning of the government was a pawn in a soap opera whose benefit to the US debt is $353 million, or about what Goldman's trading desk makes in less than one day. From Washington Post [1]: A new budget estimate released Wednesday...
  • Boehner-Obama Deal: Spending $773B Above FY08 LevelAbout as Big an Increase as Obamas Stimulus

    04/13/2011 2:50:22 PM PDT · by IbJensen · 14 replies
    CNS News ^ | Terence P Jeffrey
    ( - The budget deal cut late Friday by President Barack Obama, Senate Majority Leader Harry Reid (D.-Nev.) and House Speaker John Boehner (R.-Ohio) will allow $3.7555 trillion in federal spending in this fiscal year. That is $773 billion more than federal spending was in fiscal year 2008--the fiscal year before Congress enacted a bailout for the banking industry requested by President George W. Bush and a $787-billion economic stimulus law request by President Barack Obama. On Friday night, Boehner and Reid released a joint press statement saying that together with President Obama they had reached an agreement to cut...
  • If We Don't Raise the Debt Ceiling, Will the Apocalypse Really Occur?

    04/13/2011 2:54:44 PM PDT · by Evil Slayer · 16 replies ^ | 4/13/11 | Rush Limbaugh
    BEGIN TRANSCRIPT RUSH: "On Feb. 4, 2010, when the House of Representatives voted to increase the legal limit on the national debt by another $1.9 trillion (lifting the limit from $12.394 trillion to $14.294 trillion), not one Republican voted for the increase." It's amazing how this tracks. It's like I just said: If you go back to 2006, not one Democrat voted to raise the debt limit in 2006. Republicans ran the show then. One year ago, not one Republican voted to raise the debt ceiling when they didn't run the show, of course. Just a year ago, one year,...
  • The Budget Deal May Collapse

    04/12/2011 12:39:47 PM PDT · by OldDeckHand · 59 replies
    Commentary ^ | 04/12/2011 | John Podhertz
    The big news today is that the $38.5 billion in budget cuts announced with such fanfare on Friday night mostly arent real. A good deal of it involves money from previous years and previous budgets that hasnt actually been spent. As the AP puts it, the budget deal is financed with a lot of one-time savings and cuts that officially score as savings to pay for spending elsewhere, -snip- The total amount actually cut appears to be somewhere between $8 and $14 billion. The politics here are very complicated now. On the one hand, polls suggest the public is overwhelmingly...
  • Budget deal details: Cuts that aren't quite cuts (Including $1.7 Billion unspent 2010 census funds)

    04/12/2011 10:58:10 AM PDT · by Qbert · 16 replies
    CBS News ^ | 4/12/2011 | AP, CBS
    (CBS/AP) Details of the $38 billion worth of spending cuts factoring in last Friday's 11th-hour budget that averted a government shutdown have been released, but the cuts, while historic, were significantly eased by pruning money left over from previous years, using accounting sleight of hand and going after programs President Barack Obama had targeted anyway. [Snip] Many of the cuts appear to have been cuts in name only, because they came from programs that had unspent funds. For example, $1.7 billion left over from the 2010 census; $3.5 billion in unused children's health insurance funds; $2.2 billion in subsidies for...
  • Finally, A Socialist Budget

    04/12/2011 7:50:26 AM PDT · by Kaslin · 9 replies ^ | April 12, 2011 | John Ransom
    >Last week, The Weekly Standard pointed out a hilarious, yet wholly sad correction in the New York Times' story of March 30th about Obama's new energy policy. Obama, as you know,laid out a new energy policy in a speech at Georgetown University. Turns out, it wasnt so new. The Times wrote: This article has been revised to reflect the following correction:Correction: March 30, 2011A previous version of this article misstated how many of the president's proposals to reduce the country's reliance on imported oil were new in his speech on Wednesday. None of them were, not one of them....
  • Obama turns to his bipartisan deficit commissions blueprint for reducing debt

    04/12/2011 9:41:31 AM PDT · by Seizethecarp · 5 replies
    Washington Post ^ | April 11, 2011 | Lori Montgomery and Zachary A. Goldfarb
    Video: White House press secretary Jay Carney reiterated Monday that President Obama "regrets" his vote in 2006 as a senator against raising the debt ceiling. (April 11) President Obama plans this week to respond to a Republican blueprint for tackling the soaring national debt by promoting a bipartisan approach pioneered by an independent presidential commission rather than introducing his own detailed plan. Obama will not blaze a fresh path when he delivers a much-anticipated speech Wednesday afternoon at George Washington University. Instead, he is expected to offer support for the commissions work and a related effort underway in the Senate...