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It is all smoke and mirrors Sanrene. The GOP failed to dance with the one who brought them. Obama gets almost $2.5 Trillion in additional spending potential with no guaranteed cuts now, only proposed in the future. This is a loss for the GOP and a loss for the taxpayers of this nation.
It ain't over until the fat lady sings. The Congressional leaders and Obama may have drawn up something but the Congress critters haven't voted the way the leaders want them to vote. Yes the fat lady is standing up but she hasn't uttered a word yet. We still have a small chance.
Democrats in the House of Representatives might decide not to support a last-minute deal to raise the debt ceiling when they meet on Monday, House Democratic Leader Nancy Pelosi said on Sunday.
"We all may not be able to support it, or none us may be able to support it," Pelosi told reporters.
Well, I'm thinking you will, since your party leader went on national TV to declare a deal was struck...but the dems/libs ARE NOT happy at all with the deal....they were just dying for some tax hikes in there.
Remember now, obama wanted a "clean" DC increase, he wanted "revenues" (tax hikes), he got neither...and before he can have the remaining traunch, a commission will find almost $2 trillion more, or it goes to the states as a BBA and then across the board cuts if that fails.
As I understand it Boehner's agreed upon plan allows the Bush tax cuts to expire in 2012, which is a tax increase. I suspect there are other things in the plan that are [essentially] tax increases.
The cuts are minimal, and basically don't reduce spending right away. Plus, the military is being unfairly targeted for spending cuts (after the Pentagon just took a huge cut themselves).
Remember now, obama wanted a "clean" DC increase, he wanted "revenues" (tax hikes), he got neither...and before he can have the remaining traunch, a commission will find almost $2 trillion more, or it goes to the states as a BBA and then across the board cuts if that fails.
As I understand it Boehner's agreed upon plan allows the Bush tax cuts to expire in 2012, which is a tax increase. I suspect there are other things in the plan that are [essentially] tax increases.
The cuts are minimal, and basically don't reduce spending right away.
I agree. The bill doesn't address growth of government overtime. Basically the bill will just slow down spending increases, instead of stopping them altogether. I can understand why Moody's is thinking about downgrading the U.S.'s credit if this bill passes. The only way the budget will be balanced is if you have the balanced budget amendment in there. OR, freeze federal spending for the next 10 years if a balanced budget amendment will take too long or it's not politically possible
I agree, the first entitlement program I'd like to see cut is the pensions and healthcare for our elected politicians.
Woohoo! I second the motion!
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