Ray Jay wrote:The other difference between the Reid plan and the Boehner plan is how much (and long) they extend the credit limit. Boehner extends by $900 billion (which is only 6 to 8 months!) whereas Reid extends by $2.2 trillion which gets us past the next election. If there aren't a lot of specific cuts, than a short leash makes sense given our profligate ways.
Furthermore, as Krauthammer pointed out several days ago, the Dems are pointing to Reagan, who raised the limit 18 times, as some kind of role model. Well, do the math: 18 raises in 8 years means each raise averaged less than 6 months in length--and the economy didn't collapse, contra the current White House. He only wants the longer term (btw, I'm thinking it's more than $2.2T) because he knows he's wrong about the people being with him and doesn't want to debate it before the election.
Frankly, I prefer much larger cuts accompanied by small tax increases for the wealthy (over $1 million of income). I haven't seen the details of the gang of 6 plan, but I probably be comfortable with that sort of approach.
Because they don't have details--just an outline.
See, I think, based on what you said, you and I could come to an agreement. So, I don't get this. Well, I do. The Dems think they control the government. The GOP Tea Party contingent is adamant, so you have a complete breakdown.
Part of the problem is Democrats want to define "rich" as $200K (single) or $250K (married). That is ludicrous. If you live in Tooele, Utah that might be rich, but it's not in most urban or suburban area. And, I think whatever taxes you and I agree to raise have to be tied to inflation so we don't wind up with another AMT debacle.
The other important point here is that none of these plans have passed any chamber of the legislature or have been approved by the President. We should get a vote on Boehner's plan tonight, and it will be close. I hope it passes.
Hopefully today. I am a Tea Party guy, but they are blowing it here. They have an opportunity to really put the heat on the Democrats and they're blowing it.
If Obama and Reid veto it without an alternative, I don't see how you can conclude this is anyone's fault but theirs. They are against the Republican plan, but they haven't put forth a specific one of their own, and it's not clear that they have the necessary votes in either chamber to pass it.
Obama is supposedly addressing the nation at the moment. It better be a different song. He is a broken record and has proposed nothing. In fact, his actions during this negotiation remind me of nothing so much as TR's words about the critic and the man in the arena. Obama has been, effectively, a spectator, yelling at the man trying to get something done (Boehner).
Meanwhile, GDP is supposedly 1.3%, i.e. anemic. 1st Quarter was downgraded to 0.4%.
I remember Danivon saying we were doing the right thing by all that government spending and comparing our growth favorably with the UK.
How do you like it now, Dan?