Gang of 6 to the rescue
- Thread starter mcbrett
- Start date
The debt ceiling should NOT be raised without slashing the spending in Washington.
It's a failure of both parties that we are even talking about raising our debt limit. Pay our interest first and then make some major major CUTS to everything and that includes SS, Medicare, and Defense.
Those idiots up in DC should not be trusted with ANY more of our hard earned $$$$! They are all like spoiled little brats who need one hell of a whipping to get them back in line.
Enough is enough......NO MORE DEBT!!!!!
It's a failure of both parties that we are even talking about raising our debt limit. Pay our interest first and then make some major major CUTS to everything and that includes SS, Medicare, and Defense.
Those idiots up in DC should not be trusted with ANY more of our hard earned $$$$! They are all like spoiled little brats who need one hell of a whipping to get them back in line.
Enough is enough......NO MORE DEBT!!!!!
O
Oilfield
Guest
Following Obama's Blue Ribbon Commission from last year.
What a concept! I was wondering about the purpose of that commission. I was assuming window dressing.
What a concept! I was wondering about the purpose of that commission. I was assuming window dressing.
O
Oilfield
Guest
More kicking the can down the road! Yea!
hornpharmd
5,000+ Posts
O
Oilfield
Guest
If we are "reducing" the deficit that means we are still "adding to" the debt. In other words, we are still planning to spend more than we take in.
Continued insanity.
Continued insanity.
I don't think some of you get it. No one cares what Sangre, General or Oilfield think is the best idea- your opinions are not shared by much of the country.
You can propose your solutions until you're blue in the face but it would never pass the House, Senate or Executive Branch. Therefore- if you want something realistic, something palatable- you need to compromise. Something that many GOP/Dem Senators are now doing.
Let's skip the debate for a minute on why we disagree- the point is, the nothing but gutting spending argument is not ever going to pass so it is irrelevant. However, the cut spending and increase revenues argument does pass- and is being worked on right now.
You can propose your solutions until you're blue in the face but it would never pass the House, Senate or Executive Branch. Therefore- if you want something realistic, something palatable- you need to compromise. Something that many GOP/Dem Senators are now doing.
Let's skip the debate for a minute on why we disagree- the point is, the nothing but gutting spending argument is not ever going to pass so it is irrelevant. However, the cut spending and increase revenues argument does pass- and is being worked on right now.
The Gang of Six plan is projected to save $3.75 trillion over ten years. First off, budget projections are ALWAYS too optimistic. More importantly, the US is on track to run a $1.7 trillion deficit this year. A savings of $375B is not significant in the big picture. And if a recession appears in the coming months, there could be a $2 trillion ‘official’ budget deficit. Only God knows the real budget deficit.
Also, there are no specific budget cuts in the plan. The specific spending cuts would be decided later by congressional committees.
Also, there are no specific budget cuts in the plan. The specific spending cuts would be decided later by congressional committees.
Gang of 6 to the rescue?
Not so fast
IF as we have been told repeatedly the drop dead date is Aug 02, didn't Obama say he didn't know if the gov't could send checks out on Aug 03 IF the debt ceiling isn't raised?
according to Dem Dick Durbin
"Key Senate Democrats on Tuesday said the Gang of Six’s $3.7 trillion deficit-reduction proposal could not be included in a package to raise the $14.3 trillion debt ceiling by Aug. 2.
Senate Democratic whip Dick Durbin (Ill.), a member of the Gang of Six, said Tuesday the group’s plan is not ready to be attached to legislation to increase the debt limit.
“The Gang of Six plan has not been drafted nor has it been scored by the CBO — it’s not ready for prime time,” Durbin said, making reference to the Congressional Budget Office. “But as a concept, I think we have the starting concepts together, and that’s what we presented today.
But Durbin said the proposal was not ready to move through Congress, which has only two weeks to raise the debt ceiling before Aug. 2, when the Treasury Department says it will no longer have the money to pay all the nation’s bills.
Durbin said it could take weeks or months for the Congressional Budget Office to estimate the deficit-reduction effect of the massive package. He said flatly there is no time to do it before national borrowing authority runs out Aug. 2."
The Link
so no matter how good this plan might be it is DOA for the apparently crucial date of Aug 02
Not so fast
IF as we have been told repeatedly the drop dead date is Aug 02, didn't Obama say he didn't know if the gov't could send checks out on Aug 03 IF the debt ceiling isn't raised?
according to Dem Dick Durbin
"Key Senate Democrats on Tuesday said the Gang of Six’s $3.7 trillion deficit-reduction proposal could not be included in a package to raise the $14.3 trillion debt ceiling by Aug. 2.
Senate Democratic whip Dick Durbin (Ill.), a member of the Gang of Six, said Tuesday the group’s plan is not ready to be attached to legislation to increase the debt limit.
“The Gang of Six plan has not been drafted nor has it been scored by the CBO — it’s not ready for prime time,” Durbin said, making reference to the Congressional Budget Office. “But as a concept, I think we have the starting concepts together, and that’s what we presented today.
But Durbin said the proposal was not ready to move through Congress, which has only two weeks to raise the debt ceiling before Aug. 2, when the Treasury Department says it will no longer have the money to pay all the nation’s bills.
Durbin said it could take weeks or months for the Congressional Budget Office to estimate the deficit-reduction effect of the massive package. He said flatly there is no time to do it before national borrowing authority runs out Aug. 2."
The Link
so no matter how good this plan might be it is DOA for the apparently crucial date of Aug 02
Bevo Incognito
5,000+ Posts
6721- The timing issue has been brought up, and if there's a plan agreed upon, then there would be a stop-gap measure taken so the plan can be scored and finalized. They might even read the bill this time!
Also having a plan agreed upon will ease the markets and keep Moody's and others from dropping our rating.
Also having a plan agreed upon will ease the markets and keep Moody's and others from dropping our rating.
It boggles me that some here even on this thread, as well as a few new House Reps are hoping nothing passes rather than a bi-partisan plan passing.
It's almost with the assumption that compromise or bi-partisanship means you don't care about the country, cleaning up the debt- and completely ignores the idea that many believe the bi-partisan plan is in fact the best fiscal idea to balance the budget and lessen the debt over the long term.
It's one thing to disagree about the best method to do something- it's almost sabotage however to hope nothing passes except your plan.
It's almost with the assumption that compromise or bi-partisanship means you don't care about the country, cleaning up the debt- and completely ignores the idea that many believe the bi-partisan plan is in fact the best fiscal idea to balance the budget and lessen the debt over the long term.
It's one thing to disagree about the best method to do something- it's almost sabotage however to hope nothing passes except your plan.
ricky? maybe but according to Durbin and Obama( from link)"Durbin also dismissed the idea of passing a short-term increase of the debt limit to give lawmakers more time to put together a grand bargain.
he’d veto that and I’m opposed to it too,
I think it’s a bad idea,” Durbin said. “With our economy in this precarious condition, short-term extensions of the debt ceiling, I think, would hurt us. You can expect a downgrading of our credit status and a negative impact on our economy.”
BI?
as for Obama saying he didn't know if checks could go out?
So Obama says he will veto a short term raising and then he says he can't guarantee checks will go out aug 03 if it isn't resolved by then.
If they can't vote on the gang of 6 plan by aug 02 and trhey can't vote a short term solution by aug 02 so they can consider the gang of 6 plan it sounds to me like the gang of 6 plan can't change the debt ceiling by aug 02
here
""I cannot guarantee that those checks go out on August 3rd if we haven't resolved this issue. Because there may simply not be the money in the coffers to do it," Mr. Obama said in an interview with CBS Evening News anchor Scott Pelley, according to excerpts released by CBS News."The Link
he’d veto that and I’m opposed to it too,
I think it’s a bad idea,” Durbin said. “With our economy in this precarious condition, short-term extensions of the debt ceiling, I think, would hurt us. You can expect a downgrading of our credit status and a negative impact on our economy.”
BI?
as for Obama saying he didn't know if checks could go out?
So Obama says he will veto a short term raising and then he says he can't guarantee checks will go out aug 03 if it isn't resolved by then.
If they can't vote on the gang of 6 plan by aug 02 and trhey can't vote a short term solution by aug 02 so they can consider the gang of 6 plan it sounds to me like the gang of 6 plan can't change the debt ceiling by aug 02
here
""I cannot guarantee that those checks go out on August 3rd if we haven't resolved this issue. Because there may simply not be the money in the coffers to do it," Mr. Obama said in an interview with CBS Evening News anchor Scott Pelley, according to excerpts released by CBS News."The Link
Continued insanity
Yeah, but you voted for GW Bush and Republicans all those years we went off the reservation - tax cuts, two wars, prescription drugs ... but that has nothing to do with this. Plus, that little recession thing triggered by your idols on Wall Street had nothing to do with the increase in the deficits. Your right, it is insane. So why would I trust the lunatics in the asylum with the "solution" to deal with it?
Yeah, but you voted for GW Bush and Republicans all those years we went off the reservation - tax cuts, two wars, prescription drugs ... but that has nothing to do with this. Plus, that little recession thing triggered by your idols on Wall Street had nothing to do with the increase in the deficits. Your right, it is insane. So why would I trust the lunatics in the asylum with the "solution" to deal with it?
ProdigalHorn
10,000+ Posts
The fact that some of you think that 3.7 trillion over 10 years is helping anything says a lot about our problem. The same problem that people have when they get all excited about making their monthly payments on a $30,000 credit card bill.
Y
YoLaDu
Guest
L
LoveHorns
Guest
Y
YoLaDu
Guest
ProdigalHorn
10,000+ Posts
Good for them.
**** Obama.
**** Obama.
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