Republican Plan For Fiscal Sanity

[Sinatra]

The Republicans, gearing up for November 2010, and clearly reasserting themselves with the basic conservative principles of sound fiscal policy, have laid out a plan to save the country $1.3 trillion over the next decade...

_____

Democratic attempts to paint Republicans as the Party of No got a little tougher today with the release of a new plan from the House Republicans on the Budget Committee. The GOP has demanded spending cuts, and today the group led by Rep. Paul Ryan (R-WI) laid out a preliminary slate of specifics. If adopted, they predict that they can save over $1.3 trillion over the next ten years. In the preamble, the GOP caucus slams the Democrats for failing to provide a budget for FY2011:

Having shoveled out trillions of dollars in new spending and debt, House Democratic leaders now admit they cannot budget for all of it – and won’t even try. For the first time, the House will fail even to propose a budget. Instead the Democratic Majority will resort to an ad hoc, spend-as-you-go process that abandons any pretense of governing.


Hot Air GOP proposes $1.3 trillion in savings over next 10 years

 

[Sinatra]

Here are further specific details of the Republican Fiscal Sanity Plan...

___

In contrast, the Republicans list a number of spending proposals to close the budget gap, most of which has already been introduced to the House and ignored by Nancy Pelosi. It counters the entire narrative of the Party of No, showing that Republicans have attempted to offer ideas to reduce spending and the national debt, or at least to slow down the growth in both. Had Democrats decided to actually produce a budget, they would have had to consider the following:

*Cancel Unused TARP Funds. Prohibit the Treasury Secretary from entering into new commitments under the Troubled Asset Relief Program [TARP]. Ending TARP would prevent up to $396 billion in additional disbursements; CBO estimates savings of $16 billion. H.R. 3140 introduced by Rep. Tom Price of Georgia.

*Cancel Unspent ‘Stimulus’ Funds. Rescind all unobligated budget authority authorized under the “stimulus” bill and dedicate to deficit reduction. Saves up to $266 billion. H.R. 3140 introduced by Rep. Tom Price of Georgia.

*Cut and Cap Discretionary Spending. Return non-defense discretionary spending to pre-Obama (fiscal year 2008) baseline levels. Saves up to $925 billion. Legislation introduced by Reps. Ryan and Hensarling (H.R. 3964) and Rep. Jim Jordan of Ohio (H.R 3298) include caps on discretionary spending.

*Reduce Government Employment. Hire one person for every two who leaves civilian government service until the workforce is reduced to pre-Obama levels (exempting the Departments of Defense, Homeland Security, and Veterans Affairs). Saves an estimated $35 billion. H.R. 5348 introduced by Rep. Cynthia Lummis of Wyoming.
Freeze Government Pay. Freeze Federal civilian pay for 1 year. Saves an estimated $30 billion.

*Adopt the Legislative Line-Item Veto. Enact a constitutional line-item veto law. The President’s FY 2011 budget included terminations, reductions, and savings that would achieve $23 billion in one year. While Congress may not accept all these savings, the Line Item Veto can help reduce spending. H.R. 1294 introduced by Rep. Paul Ryan of Wisconsin.

*Reform and Bring Transparency to Fannie Mae and Freddie Mac. Reform these companies by ending conservatorship, shrinking their portfolios, establishing minimum capital standards, reducing conforming loan limits, and bringing transparency to taxpayer exposure. According to CBO, the cost to taxpayers of putting government in control of Fannie and Freddie is $373 billion through 2020. Saves an estimated $30 billion. H.R. 4889 introduced by Rep. Jeb Hensarling of Texas. H.R. 4653 introduced by Rep. Scott Garrett of New Jersey.

*Create a Sunset Commission. Establish a commission to conduct systematic reviews of Federal programs and agencies, and make recommendations for those that should be terminated; and provide for automatic sunset of programs unless expressly reauthorized by the Congress. H.R. 393 introduced by Rep. Kevin Brady of Texas.

*The biggest gain would come from rolling back non-defense discretionary spending to FY2008 levels, which would save $925 billion over ten years.


Hot Air GOP proposes $1.3 trillion in savings over next 10 years

 

[VaYank5150]

The Republicans, gearing up for November 2010, and clearly reasserting themselves with the basic conservative principles of sound fiscal policy, have laid out a plan to save the country $1.3 trillion over the next decade...

_____

Democratic attempts to paint Republicans as the Party of No got a little tougher today with the release of a new plan from the House Republicans on the Budget Committee. The GOP has demanded spending cuts, and today the group led by Rep. Paul Ryan (R-WI) laid out a preliminary slate of specifics. If adopted, they predict that they can save over $1.3 trillion over the next ten years. In the preamble, the GOP caucus slams the Democrats for failing to provide a budget for FY2011:

Having shoveled out trillions of dollars in new spending and debt, House Democratic leaders now admit they cannot budget for all of it – and won’t even try. For the first time, the House will fail even to propose a budget. Instead the Democratic Majority will resort to an ad hoc, spend-as-you-go process that abandons any pretense of governing.


Hot Air GOP proposes $1.3 trillion in savings over next 10 years

A TWO PAGE thesis on how to save $1.2 TRILLION dollars. How, you guys are workinng VERY hard!!

 

[Sinatra]

More from Republican Paul Ryan on the Democrat's fiscal failures...
___

FAILURE TO BUDGET, FAILURE TO GOVERN

- Threatens Job Creation. The Democrats’ budget failure further erodes confidence in Washington’s intent to get Federal spending and debt under control – and creates even greater concern about impending tax hikes that will further hinder the private-sector job creation Americans desperately need. Washington’s failure to control spending undermines sustainable economic growth and job creation.

- Explodes Spending and Deficits. With no budget, no priorities, and no restraints, the Democratic Majority will push spending to a record $3.8 trillion in fiscal year 2011, and widen the deficit to a record $1.5 trillion this year. Since the President took office, spending has exploded by $1.8 trillion, including the failed “stimulus” bill, appropriations increases far above inflation, and the government takeover of health care, among others.

- Exacerbates Debt Crisis. By failing to address our Nation’s greatest fiscal challenge, unsustainable entitlement spending, the President’s budget – now the de-facto Federal budget – doubles debt held by the public in 5 years and triples it in 10 years – to an alarming 90 percent of gross domestic product.


http://house.gov/budget_republicans/press/cutspendingnow.pdf

 

[Oddball]

They say it, but they won't do it.

I haven't forgotten 1995.

 

[rdean]

Repeal the Bush/Republican drug give a way (the most irresponsible bill in US history) and that would save 1.3 trillion on just one program.

 

[Oddball]

Why do you hate the ellllderrlyyyyy and the pooooooooooor?

 

[rdean]

Why do you hate the ellllderrlyyyyy and the pooooooooooor?

That bill didn't help them as much as they think.

What is wrong with that bill:

Countries can bundle their orders for drugs and buy in bulk driving the cost down for the most common drugs, say, insulin or penicillin.

What the Republicans did was make that illegal for HMO's and States to do the same thing. Instead of buying needed drugs in bulk and dividing them up, every state and every HMO can only buy what they use and no more. That drives the cost up ten times or more. In some cases much more.

So part of the bill was to buy seniors votes, but the main part of the bill was to help drug companies squeeze every single cent they can squeeze from the American people. Remember, the goal of the Republican party is "profit". They don't shy away from that. Their base thinks it's a "good" thing. It's the one thing they are honest about. They are on the side of big companies making big profit. Pointing that out is no attack.

One of my co-workers buys medication for his father from India at a fraction of the cost. He has the drugs shipped here. The drugs he buys are from American Drug companies, sold in bulk to India which makes the cost a fraction of what they would be here.

It's no secret. It's why people were against that dumbass bill to begin with.

 

[froggy]

They say it, but they won't do it.

I haven't forgotten 1995.

They had eight year to do something, but they let bush/chaney drag em under the bus.

 

[Sinatra]

Repeal the Bush/Republican drug give a way (the most irresponsible bill in US history) and that would save 1.3 trillion on just one program.

Agreed.

 

[Sinatra]

What is clear is that the Republicans have been offering up alternative plans - and predictably those plans have been ignored by Pelosi and Co.

Now they are finally getting far more organized and public with their opposition.

It would appear the Tea Party movement has finally seeped into the thick skulls of the Republican Party establishment...

 

[VaYank5150]

What is clear is that the Republicans have been offering up alternative plans - and predictably those plans have been ignored by Pelosi and Co.

Now they are finally getting far more organized and public with their opposition.

It would appear the Tea Party movement has finally seeped into the thick skulls of the Republican Party establishment...

As evidenced by the likes of Rand Paul. Good show!

 

[Mr Natural]

Let me guess the plan.

It's jump start the economy by cutting taxes on the wealthiest Americans an wait for the good times to flow down upon us peons.

 

[Sinatra]

Let me guess the plan.

It's jump start the economy by cutting taxes on the wealthiest Americans an wait for the good times to flow down upon us peons.

How about you simply read the outline of the plan?

Just a suggestion there pard...

 

[Sinatra]

+

Here are further specific details of the Republican Fiscal Sanity Plan...

___

In contrast, the Republicans list a number of spending proposals to close the budget gap, most of which has already been introduced to the House and ignored by Nancy Pelosi. It counters the entire narrative of the Party of No, showing that Republicans have attempted to offer ideas to reduce spending and the national debt, or at least to slow down the growth in both. Had Democrats decided to actually produce a budget, they would have had to consider the following:

*Cancel Unused TARP Funds. Prohibit the Treasury Secretary from entering into new commitments under the Troubled Asset Relief Program [TARP]. Ending TARP would prevent up to $396 billion in additional disbursements; CBO estimates savings of $16 billion. H.R. 3140 introduced by Rep. Tom Price of Georgia.

*Cancel Unspent ‘Stimulus’ Funds. Rescind all unobligated budget authority authorized under the “stimulus” bill and dedicate to deficit reduction. Saves up to $266 billion. H.R. 3140 introduced by Rep. Tom Price of Georgia.

*Cut and Cap Discretionary Spending. Return non-defense discretionary spending to pre-Obama (fiscal year 2008) baseline levels. Saves up to $925 billion. Legislation introduced by Reps. Ryan and Hensarling (H.R. 3964) and Rep. Jim Jordan of Ohio (H.R 3298) include caps on discretionary spending.

*Reduce Government Employment. Hire one person for every two who leaves civilian government service until the workforce is reduced to pre-Obama levels (exempting the Departments of Defense, Homeland Security, and Veterans Affairs). Saves an estimated $35 billion. H.R. 5348 introduced by Rep. Cynthia Lummis of Wyoming.
Freeze Government Pay. Freeze Federal civilian pay for 1 year. Saves an estimated $30 billion.

*Adopt the Legislative Line-Item Veto. Enact a constitutional line-item veto law. The President’s FY 2011 budget included terminations, reductions, and savings that would achieve $23 billion in one year. While Congress may not accept all these savings, the Line Item Veto can help reduce spending. H.R. 1294 introduced by Rep. Paul Ryan of Wisconsin.

*Reform and Bring Transparency to Fannie Mae and Freddie Mac. Reform these companies by ending conservatorship, shrinking their portfolios, establishing minimum capital standards, reducing conforming loan limits, and bringing transparency to taxpayer exposure. According to CBO, the cost to taxpayers of putting government in control of Fannie and Freddie is $373 billion through 2020. Saves an estimated $30 billion. H.R. 4889 introduced by Rep. Jeb Hensarling of Texas. H.R. 4653 introduced by Rep. Scott Garrett of New Jersey.

*Create a Sunset Commission. Establish a commission to conduct systematic reviews of Federal programs and agencies, and make recommendations for those that should be terminated; and provide for automatic sunset of programs unless expressly reauthorized by the Congress. H.R. 393 introduced by Rep. Kevin Brady of Texas.

*The biggest gain would come from rolling back non-defense discretionary spending to FY2008 levels, which would save $925 billion over ten years.


Hot Air GOP proposes $1.3 trillion in savings over next 10 years

 

[DiamondDave]

It's good talk.. but action is needed.. and if they get the power to do it all, then it BEST be followed through... if they don't do what they say, then this whole pendulum swing will happen yet again, hurting our country even more

 

[Sinatra]

It's good talk.. but action is needed.. and if they get the power to do it all, then it BEST be followed through... if they don't do what they say, then this whole pendulum swing will happen yet again, hurting our country even more

There is a far greater cohesive force of opposition/concern than in 1994, that will hopefully keep the newly elected honest - at least as honest as a DC politician can be!

 

[DiamondDave]

It's good talk.. but action is needed.. and if they get the power to do it all, then it BEST be followed through... if they don't do what they say, then this whole pendulum swing will happen yet again, hurting our country even more

There is a far greater cohesive force of opposition/concern than in 1994, that will hopefully keep the newly elected honest - at least as honest as a DC politician can be!

I actually think high turnover of incumbents and new blood in power may be the only way.. for we have too many on both sides who are into the power and kickbacks... and not what is truly good for our government and country

 

[Sinatra]

It's good talk.. but action is needed.. and if they get the power to do it all, then it BEST be followed through... if they don't do what they say, then this whole pendulum swing will happen yet again, hurting our country even more

There is a far greater cohesive force of opposition/concern than in 1994, that will hopefully keep the newly elected honest - at least as honest as a DC politician can be!

I actually think high turnover of incumbents and new blood in power may be the only way.. for we have too many on both sides who are into the power and kickbacks... and not what is truly good for our government and country

Completely agree.

 

[rdean]

To me, the plan looks like, "Don't do anything". Where are the "Wall Street Regulations" what were stripped out?

Republicans didn't improve the countries infrastructure in 8 years even with bridges falling into the river during rush hour. And their "new" plan is to do "nothing"?????

I hope they run on "do nothing".