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Presenting The Complete Generic Fluff That Is The "Gang of Six Plan To Reduce Our Nation's Deficit"
Well it's not a 3 page term sheet. It is a 5 page talking point bulletin full of ridiculous fluff with nothing substantial.
Here is the only immediately actionable prerogative which comes from, you guessed it, Chained CPI and Social Security:
Enacting a $500 billion down payment that would secure immediate deficit savings, while establishing a fast track process for the committees in Congress to specify further savings
- Impose statutory discretionary spending caps through 2015.
- Implement numerous budget process reforms.
- Shift to the chained-CPI (a more accurate measure of inflation) government-wide starting in 2012, along with the following specifications for Social Security: (1) exempt SSI from the shift for five years, and then phase in the shift over the next five years; and (2) provide a minimum benefit equal to 125% of the poverty line for five years. (According to CBO, the shift to chained-CPI would result in the annual adjustment growing, on average, about 0.25 percentage points per year slower than the current CPI.)
- Repeal the CLASS Act.
- Enact concrete policy changes that lock-in additional savings, including freezing Congressional pay and selling unused federal property.
- Require GAO and the Department of Labor to report to Congress on establishing a more effective unemployment insurance trigger.
h/t Crown Thomas
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>> selling unused federal property.
THERE IT IS .... ASSET SALES!!!!! ..... wannabe oligarchs have been waiting for this for a while.
How much can we get per Congressman? Oh, wait, those aren't "assets".
Nice catch, SR!
All this meaningless crap & fourbits will buy you a cup of coffee at your local McDonalds.
We want a crash, a BIG CRASH.
All this time and this is the best these drama queen assclowns can come up with? My sub-teenage niece could come up with something better on the back of a cocktail napkin in less time with far less drama. Damn them all!
This was no grand compromise! It was a sellout!
Oh yes. The infamous "I'm not George W. Bush" award. -lol
Gee, they take the deficit from $400B per annum to $1,600B in less than three years, and they say that cutting it by $500B is a really grand gesture.
BTW, whatever did the Republican whores do with the "Let's take spending back to 2008 levels" mantra that helped them re-take the House in 2010?
yada yada yada, All it is is a bunch of fluff just as you said.
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