We may need a default just to put an end to the crackpot tea partiers once and for all.
The Dems in the senate and the president are no better than the teapartiers.
The senate dems unanimously voted against both bills the repubs put forth and the President did not bargain in good faith when the dems and reps did give him a compromise bill they all agreed to (he then added more revenue to it making the compromise fail)
At least be honest NYcarbineer.....you know the left is not better than the tea party in this one.
Oh and yeah.....the teapartier plan below is so horrible right?
How do we get debt? From spending and bad budgets. What did the cut cap and balance bill do? It tries to control spending and bad budgets. The things in the bill are directly related to the debt ceiling
The Cut, Cap, and Balance Act of 2011
CUT
Cuts total spending by $111 billion in FY 2012. The savings is divided as follows:
•Reduce non-security discretionary spending below 2008 levels, which saves $76 billion.
•$35 billion cut to non-veterans, non-Medicare, non-Social Security mandatory spending.
•Defense budget at President's level.
CAP
Total federal spending is scaled back based on the glide path for the fiscal years below:
•2012, 22.5% of GDP.
•2013, 21.7% of GDP.
•2014, 20.8% of GDP.
•2015, 20.2% of GDP.
•2016, 20.2% of GDP.
•2017, 20.0% of GDP.
•2018, 19.7% of GDP.
•2019, 19.9% of GDP.
•2020, 19.9% of GDP.
•2021, 19.9% of GDP.
BALANCE
Requires the passage of a Balanced Budget Amendment before raising the nation's debt limit.
DEBT CEILING INCREASE CONTINGENT ON BBA
Provides for the President's request for a debt ceiling increase if a qualifying Balanced Budget Amendment passes Congress and is sent to the states for ratification.