And Speaking of Political Documentaries: "The Undefeated" Will Be Available On-Demand on September 1 | Main | Oh Perfect: Obama To Address Nation At 9PM
July 25, 2011

Boehner's Debt Deal Proposal

Consider this a follow up to Ace's post on Reid's plan, which Obama has now endorsed because it meets his primary objective of one hike that gets beyond November of 2012.

This is the plan that Obama will be calling "not a plan" (while offering no plan of his own) by the end of the day.

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).

There would be a separate vote on a Balance Budget Amendment by October 1 of this year, a joint commission to come up with another 1.8 trillion in savings over 10 years that would be subject to an up or down vote and no new taxes.

Are people going to love this? No. Some don't want to raise the debt ceiling at all and we'd have to see if the "immediate" cuts are real or some gimmicks. Also some people want the BBA voted on now. Personally, I don't care about that. It's never going to pass. If we could get 2/3's of both houses to pass it, we could get a simple majority to actually pass a balanced budget.

As Boehner said, it's not "Cut, Cap and Balance" but that died in the Senate. This is in that spirit and it might pass. Given that we only have control over 1 out of 3 political levers of power, that's not bad. Serious entitlement reform along the lines of the Ryan plan was never on the table with a Democratic Senate and Obama in the White House. Plus, it cuts Obama out so he gets no credit or his "balanced" (aka "hike taxes'), so Mr. Adult in the Room looks like the brat he is being dragged along, kicking and screaming.

If, big if, Boehner can pull this off and it's acceptable to the majority of the House GOP caucus, he just might end up rolling Obama, Reid and the Gang of 6 in the Senate. Not a bad days work. I won't even make fun of him if he cries when it's done.

Via Philip Klein.

So, they'll cut a deal somewhere in the middle but in the end, no taxes. Bluff called and folded.

Update: Allen West is in.


digg this
posted by DrewM. at 03:33 PM

| Access Comments




Recent Comments
Bag of Dicks Salesman: "Got an order sent out for Cowgirl Sparkly Birch. ..."

Professor Chaos aka gumdrop gorilla: "I see before I finished my post, other assclowns w ..."

TrivialPursuer: " Oooh, Juan sez "Obama was extremely careful.....i ..."

J.J. Sefton: " Rhinestone cow-pie. ..."

Witwickian Sage: "to be fair, I don't think I ever read the WaPo's r ..."

Burger Chef: "I study human beings, especially the creepy ones. ..."

mercenary13: "Barack Obama had Rahm Emanuel as Chief of Staff. ..."

Iowa Bob: "[i] 350 Niger won't allow armed drones by foreign ..."

Maritime: "What do you want to bet these same types also wors ..."

Jane D'oh: "One of the dead Green Berets is from a little town ..."

FenelonSpoke: " and "personally insulted a congresswoman." Post ..."

Steve and Cold Bear: "Sally Quinn Magick Nood. ..."

Recent Entries
Search


MuNuvians
Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
News/Chat
Archives
Powered by
Movable Type 2.64