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July 25, 2011

Boehner Unveils New Two-Step Plan That's Also Doomed

At the Corner, the plan goes like this:

1. $ 1 T in new debt limit ceiiing.

2. $ 1.2 T in cuts... but over ten years, and via caps, which I'm always thinking will be ignored.

3. A twelve man congressional panel formulates ways of saving another $1.6-$1.8 trillion... there are some gimmicks here to get these measures to a vote in Congress, but of course that doesn't mean they'll pass.

Plus, you need seven of 12 to get them to a vote at all.

4. Obama gets to come begging for another $1.5 trillion later.

Good plan? No. For one thing, it makes Obama come back and beg for the rest of his debt limit. I don't mind that part at all, but to Obama, that's the only thing he cares about, so it seems a nonstarter there.

There are no cuts to entitlements -- which is the Congressional Democrats' absolute-must.

There are no tax hikes -- the Republicans' must-have.

But then, it also doesn't do very much to reduce the deficit, either.


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posted by Ace at 06:32 PM

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