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Oops: Boehner Says Gang Of Six Proposal "Appears To Fall Short"
No, the soap opera is not done just yet. According to The Hill the office of John Boehner has said that the Gang of Six proposed $3.7 trillion fluff "settlement" appears to fall short of goals set by House Republicans. "This plan shares many similarities with the framework the Speaker discussed with the president, but also appears to fall short in some important areas. The House is voting today on our 'cut, cap, and balance' plan, and we hope the Senate will take it up soon. That remains our focus,” a Boehner spokesman said. As expected the kicker is the impact on Social Security which will see drastic changes if Chained CPI is implemented in conjunction with cost of living adjustments: "They also are wary of the plan's complicated mechanism for dealing with Social Security. The plan states that Social Security reform only be taken up once the rest of deficit-reduction plan is completed. If Social Security reform is not passed by a 60-vote margin, the earlier vote on the rest of the deficit-reduction package is nullified." The actual impact on COLA was not mentioned by Boehner's office. We expect the AARP will require clarification on the speaker's stance on that issue shortly.
More from The Hill:
In talks with President Obama, Boehner has been pushing for larger cuts to Medicare and Medicaid than are laid out in the Gang's plan, which claims unspecified healthcare savings of $202 billion.
The GOP also wants more up-front savings, and deeper tax cuts than the Gang's plan contains, sources said. By eliminating the Alternative Minimum Tax and lowering tax rates, the Gang of Six claims its plan scores as a $1.5 trillion tax cut even though it eliminates tax loopholes.
According to sources, House Republicans are also worried the Gang's plan doesn't have sufficient triggers to force action on the deficit and could allow committees to stall.
Which probably means that the McConnell fall back plan is still the defacto Plan B. The issue is that as Moody's said earlier, this will likely not be sufficient to dent the US leverage position much, and downgrades to America's credit rating could still be forthcoming.
As usual, D.C. seems willing to wait until the 11th hour to find a resolution, which we continue to be confident will be one which has no change to the general bearing of the US spending pattern, which match every dollar in revenue with more than one dollar in new debt, and will result in a debt/GDP ratio of at least 120% one year from today.
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89% of Americans already think the MSM deliberately protects Obama. I want to know who the other 11% are.
Racists
This has to be interfering with his golf game by now.
Ronald Reagan: "They lied to me."
Reagan had struck a deal with Tip O'Neil whereby the GOP would get $3 in spending cuts for every $1 of in taxes raised. The taxes were put in place, but dems never made the spending cuts. Democrats controlled both houses of congress and lied their asses off. They'll do the same thing now in the senate. 2012 might come too late.
We know CPI manipulations will be pure gimmickry but it sure telegraphs their intention to produce hyperinflation, loud an clear.
so at NO TIME since reagan did the pugs have the juice to roll in those
forlorn spending cuts?
SHillY , go eat your fukin peas.
Eat your own fucking pee ammonia breath.... the GOP never even controlled congress for decades before 1995.
Unless you were still sperm, or in a coma, you'll know that when they did, they made massive cuts and abolished Welfare --- which Clinton vetoed 3 times before he finally signed it into law under threat of override, vowing to overturn it.
To this day, Clinton brags it was somehow his greatest acheivement. GOP congress made other cuts to everything and a balanced budget was produced -- by the GOP congress, not Clinton. Slick Willy acted just like Obama, and the GOP was voted in to stop him and they did. That's the only reason the budget ever got balanced.
The RINO GOP under Bush started acting just like socialist democrats and got voted out in 2006. Unfortunately, the dems came back as full blown marxists. Joe Lieberman wasn't even liberal enough for them anymore and he was their national VP candidate in 2000. Dems ran a third generation marxist against him in CT for senate, that's why he ran as an Independent.
Which presents the question...when is a socialist/progressive not being deceitful?
Never.
It amazes me.. when people that I know have a Brain.. still want to believe that the Regresssive's (which I very much am with regard to the immigration policies of this Nation) batter the Progressives (which I very much am with regard to more than one policy, not that I can think of one more important than returning America to its Former Glory) which is out right stupidity.
The next thing that I must admit.. to myself.. is that I do exactly the same thing all the time. Some times for fun, sometimes becuase I would like to stir the pot and even more likely becuase I am pushing to see where a person really stands.
But.. us.. and I mean us. Like above us.. us. like you, us. going back and forth like it really is the Wigger fault?
Obama got to office and was the most powerful wigger of all time.. and do you think he back tracked and went against everything he has said for years becuase they offered him cake?
How about the reality, that the President has NO Control! No Safety!! and No! Ability to Change Anything!
Now! how do you fix that? while "WE" lob balls to each other about how evil the Wigger is? How do we fix the system without leaving ourselves open for attack from Russia / China?
Enough of the easy stuff.. lets use some of the horse power here to get to the bottom of a problem. a real problem.. not tee ball practice problems. let the new people have those conversations.. you guys have been here long enough to know better and to want better for all. so put the tee ball holder away that is the Presidency and how do we Protect a Real President from the Forces that be that would cause a Real President Harm. please dont say secret service, they are the problem, they keep the President in line! becuase the President ALWAYS has to wonder if they are going to stand down like with Kennedy.
http://www.youtube.com/watch?v=XY02Qkuc_f8
http://www.youtube.com/watch?v=mCHGNvTvqU0
http://www.ctka.net/reviews/kennedydetailreview.html
The Good, the Bad, and the Ugly: A Review of The Kennedy Detail, a Compelling but Dangerous Mix of Fact, Faction, and Fiction by Vince PalamaraBush the Elder made the same deal, with the same results.
Votes don't buy themselves.
Just wanted you know you've got the three funniest comments in this post. And humor is the only defense we have. Keep it up!!!
Dad always said laughter was the best medicine, until he got tuberulosis and died.
Vitiate bitchez
The only grown-up in the room:
http://www.realclearpolitics.com/video/2011/07/19/ron_paul_we_will_defau...
Ron Paul today on the "debt ceiling".
Got to love the line: "one side
loves entitlements the other side loves war".
Call Obama's bluff.
Let Obama raise the ceiling if he gets rid of Air Force One and puts it on E-Bay first.
Gang of Six? Sounds like the pallbearers for the US economy funeral.
So, the dow is up 200+ today... when the proposal epic fails... who's betting on a blood bath on the stock market?
Nobody will remember that tomorrow. They will be too busy trumpeting Apple's earnings as a sign that our economy is perfect.
Don't forget that today's rally was first credited to the "housing numbers". And look at those and how much bullshit they entailed. It didn't turn into the Debt Ceiling rally until about 1:30.
Funny, our economy is perfect but Apple makes everything overseas and that's where the great majority of their profits came from, too.
Really, no one has said this yet
Washington headline - Boehner calls for more fluffing!
Edit - change the title of this post! I win!
Bring on the Barney Frank jokes.
Did I ever tell you the one about Barney and his pacifier?
Ron Paul rebukes the 'cut, cap, and balance' proposal as more 'status quo'. What a bunch of morons we have running our country. See link for full rebuttal:
http://paul.house.gov/index.php?option=com_content&view=article&id=1894:statement-on-the-cut-cap-and-balance-act&catid=15:floor-statements
Debt Ceiling = snorefest. Blah, blah, blah. Does this posturing really matter?
If they raise it, we are screwed after a possible short-term euphoria.
If they don't (no chance), they will implode the crooked system sooner than they want.
Do TPTB and most of the US population really fail to understand that we have a debt ceiling problem because the dollar has collapsed in relative value. All this for a bloated country that imports all of its materials. Inflation has been here for years as prices don't lie. I guess the question is whether it has been hyper- or stag-. That is the real debate in my book.
So, Sentaor Derpderp Effinclown, what do you think will happen first - seeing those taxes in the government's (empty) virtual coffers, or you catching a nasty case of rope burn?
american pussies loloool!
300 million hand gunds and not a single banker even scared! hahaha.
I'm gonna to ship a few of mine to Syria.
One can always find long pig on the White House menu.
right along with black lie peas and bull-chitlins
The bottom line on all of this crap is FY2012 spending. If you don't cut that, you haven't cut.
The game playing is to take a high FY2012 baseline, apply huge growth rates to it manufactured from inflation projections, GDP projections and population growth projections, and then cut from that growth curve. You can claim big cut numbers that way from out years, because the cut is from an absurd growth curve. You'll wind up with year 2020 spending far above 2011 spending, even farther above it than reasonable inflation and pop growth.
ONLY FY2012 CUTS MATTER AND THEY SHOULD BE NORTH OF 200 BILLION DOLLARS.
Completely true. And the way to ensure that is to pass an increase of only about $500B (5 months spending) and then make Obama come back for more. Its Chinese water torture to spenders. You could make it even better by passing only a 100B$ increase. No default, but spending has to be reduced immediately. Let Obama veto it on Aug 1 at midnight if he dares. This is the real house "fall back" plan that no ones discussing-and it would pass both chambers. Plenty of money to meet core obligations like interest, so no default. And bond markets would rally (lower interest expense) knowing that spending is now being reduced systematically.
They have $467B Tbills maturing next month. It's not about interest. They need serious dough, right away.
Gang of Six = RINOs and Commiecrats.
Nah. Coburn's a fairly serious conservative. He's trying to leaven the loaf of shit the others would serve to America. Largely a waste of time on his part but you can at least understand his strategy.
They wait until the last minute to do something because then people HAVE to pay attention to them. Who the hell would live for power and *not* force people to pay attention to themselves?
I hope it backfires and we default.
This episode of "Debt Theater" brought to you by......your friendly Federal Reserve bank, the central bank that just can't say no.*
*(so long as you're a TBTF bank.)
These republican senators need to take up the cut cap and balance and vote on it. What I've complained about all along is that our republic is not supposed to use back door negotions in which 99% of the legislators are not even included in the discussions. This is more of the same left wing garbage you get in places like Venezuela and Cuba. Where the dictator dictates and the legislators just sit and collect a check. This is so disgusting and typical of Obama.
"The gang of six" what a stupid fucking name. What ad agency branded them? Are they gang bangers? Biker gangs? Lobby whore gangs? Stupid fucks.
The gang of six had a beer summit
at the local bar called "The debt
ceiling" Joe brought a six pack and some green shoots. They feasted on PIIGS in a blanket. Blah blah blah....
A word to the Republicans in Congress from yours truely: You go Girl ;)
http://online.wsj.com/public/resources/documents/PlanSummary.pdf
It is all fluff
Anything that originates in the senate is almost certainly written by lawyers and/or banksters for their gain at our expense. I trust NOTHING that comes from there. As far as I am concerned, the senate is a rogue body that does not serve the people and is probably 80% or more of the corruption cancer that has affected CONgress.