House passes GOP debt measure

[Ringel05]

Obama praises compromise plan

Washington (CNN) -- The U.S. House on Tuesday night passed the "cut, cap and balance" deficit reduction plan backed by tea party conservatives but dismissed by President Barack Obama, who offered strong praise for another proposal put together by a bipartisan group of senators.

The so-called Gang of Six plan -- drafted by three Democratic and three Republican senators -- presents a possible compromise to Obama and congressional leaders as they approach a deadline for a deal on cutting federal deficits in order to gain Republican support for raising the federal debt ceiling to avoid an unprecedented default.

It would cut the nation's debt by about $3.7 trillion over the next 10 years -- similar to the president's call for roughly $4 trillion in savings.

Obama called the plan by the Gang of Six senators "broadly consistent" with his own approach to the current debt ceiling crisis because it mixes tax changes, entitlement reforms and spending reductions.

House passes GOP debt measure; Obama praises compromise plan - CNN.com

 

[Modbert]

Did the GOP bill even mention one cut?

 

[oreo]

Did the GOP bill even mention one cut?

You'll notice that Obama has BACKED OFF on raising taxes--and he has been talking about that for two months now. And you can bet ANY spending cuts are being done by Republicans.

Obama had a plan--that he couldn't even get one democrat to vote for--

In fact--if Obama's plan wouldn't have flopped out his budget would have been spending 100% of GDP in the next 10 years.

 

[B. Kidd]

You do know that farther left lefties' view Obama supporting the Gang of 6 plan being akin to Obie extending the Bush tax cuts.
Maybe he is a 'closet Republican'!

 

[Zander]

The GOP controls the House of Representatives. Nothing can force them to raise the debt ceiling. And no matter what the president does, the House leadership can simply refuse to pay for his expensive programs. It is really that simple.

Start cutting! It wouldn't even be that hard! We could simply go back to the spending levels of the 2002 budget - when federal government remarkably (roll eyes) managed to survive on a mere two trillion annually.

 

[B. Kidd]

Gang of 6 plan has anemic military cuts. So Obie supports that. His bloodlust for changin' minds and buildin' nations will remain economically intact....fer' just a little while longer.

 

[Wiseacre]

Did the GOP bill even mention one cut?

Yeah, from the CNN link near the bottom:

" The measure would require $111 billion in cuts in fiscal year 2012, while exempting Pentagon spending and popular entitlement programs such as Medicare and Social Security. Federal spending would be capped at less than 20% of gross domestic product by 2021, as opposed to the current 24%. "


I don't think it's that bad. Got no revenue increases, which I favor until the economy improves and we start creating jobs in meaningful numbers. However, the Gang of 6 plan ain't bad either, it raises revenue by 1.2 trillion but some of that goes to the debt and some goes to paying for reducing tax rates. I hope oneor the other gets passed, I really don't care for the McConnell idea which is being touted as the backup if nothing else works.

 

[Dr.House]

Why do they use the term "revenue increases"?

Why not just call it like it is - "taxes"?

 

[B. Kidd]

Why do they use the term "revenue increases"?

Why not just call it like it is - "taxes"?

It's just more palatable.....like the term 'kinetic military action'.

 

[Vel]

Why do they use the term "revenue increases"?

Why not just call it like it is - "taxes"?

Because they figure that the general public isn't smart enough to realize what a "revenue increase" is.

 

[bucs90]

I'm for whatever pisses liberals off the most. If they get much more disappointment from The One, I suspect we'll see a mass suicide of liberals worldwide.

 

[Annie]

Did the GOP bill even mention one cut?

Yeah, from the CNN link near the bottom:

" The measure would require $111 billion in cuts in fiscal year 2012, while exempting Pentagon spending and popular entitlement programs such as Medicare and Social Security. Federal spending would be capped at less than 20% of gross domestic product by 2021, as opposed to the current 24%. "


I don't think it's that bad. Got no revenue increases, which I favor until the economy improves and we start creating jobs in meaningful numbers. However, the Gang of 6 plan ain't bad either, it raises revenue by 1.2 trillion but some of that goes to the debt and some goes to paying for reducing tax rates. I hope oneor the other gets passed, I really don't care for the McConnell idea which is being touted as the backup if nothing else works.

Both McConnell plan and gang of 6 are being nixed by Moody's regarding downgrading. Not enough cuts.

 

[bucs90]

YES!!!!! Moody's demands more cuts to avoid downgrade. Great news. CUT IT!!!!

People used to live lives that were more independent of government. It's time to get back to those days. Liberals will hate it of course, because they are terrified of freedom (aka responsibility). But others will thrive in it.

 

[CitizenPained]

Gang of Six.

So crafty.

Such fuckers sometimes.