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Thread: 'Gang of Six' revives hope for big deal in stalled debt-ceiling talks

  1. #181
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    Re: 'Gang of Six' revives hope for big deal in stalled debt-ceiling talks

    Quote Originally Posted by Misterveritis View Post
    Even more basically, the US government needs to stop spending money it does not have. It is pretty simple really.
    Its not possible to cut enough to reduce our debt without also eliminating some of the tax breaks for the wealthiest. It took both spending and tax cuts to create the debt and reversing that is the only way to reduce our debt.

    We also should cut the most wasteful spending first, and that would be our bloated military spending that is almost as much as the rest of the world COMBINED!

    Until these things happen, I don't take seriously efforts by either party to reduce the deficit!
    Last edited by Catawba; 07-22-11 at 07:00 PM.
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  2. #182
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    Re: 'Gang of Six' revives hope for big deal in stalled debt-ceiling talks

    Quote Originally Posted by Catawba View Post
    So I have no worries the about the government defaulting on its obligations.
    Nor do I. But for different reasons than you. There is plenty of walking around money. I am sure the one term Marxist president Obama will use some of it.

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    Re: 'Gang of Six' revives hope for big deal in stalled debt-ceiling talks

    Quote Originally Posted by Catawba View Post
    Its not possible to cut enough to reduce our debt without ...
    Of course it is. And we just might see it in August.
    Quote Originally Posted by Catawba View Post
    We also should cut the most wasteful spending first, and that would be our bloated military spending that is almost as much as the rest of the world COMBINED!
    Okay. I suggest we look to the Constitution and begin with the departments whose functions are not enumerated. Education, and the EPA could be closed with absolutely no harm to anyone except liberals. They are extra-constitutional busybody groups. Toss them onto the ash heap of history.

  4. #184
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    Re: 'Gang of Six' revives hope for big deal in stalled debt-ceiling talks

    Quote Originally Posted by Catawba View Post
    "The Gang's revised plan proposes deep cuts in Medicare and other health spending"

    Will Marshall: Welcome Back, Gang of Six
    Your HuffLink has this on Medicare:

    The Gang's revised plan proposes deep cuts in Medicare and other health spending, while -- sorry Rep. Ryan -- apparently maintaining the structure of Medicare and Medicaid. It would achieve about $1 trillion in savings by capping domestic spending, including defense, over the next decade. These cuts are way beyond cosmetic.
    Here's something Huff missed, which I believe more directly addresses your concern:

    Under this plan, the Senate Finance Committee would be required to find $500 billion in healthcare spending cuts over 10 years, though it carries the proviso that cuts cannot come at the expense of services that the poor and elderly rely upon.
    Healthcare Finance News

  5. #185
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    Re: 'Gang of Six' revives hope for big deal in stalled debt-ceiling talks

    Quote Originally Posted by Misterveritis View Post
    Fortunately, there is still time for the Republicans to just walk away. They passed a bill in the House. Now it is the democratically-controlled Senate's turn. And the one term Marxist president Obama has yet to offer any real plan. Republicans should tell him they will return to discuss his plan, once he actually has one.

    And if nothing happens then the government will be forced to live on what it already compels us to pay.
    They didn't walk away, they were driven away.

    "The White House moved the goal post," Boehner said Friday evening in a news conference, claiming that the talks broke down when the White House demanded an additional $400 billion in new revenues, on top of the $800 billion that had been agreed on -- "which was going to be nothing more than a tax increase on the American people," Boehner said. "They refused to get serious about cutting spending and making the tough choices that are facing our country on entitlement reform," he added.
    Obama, for his part, had this:

    "It's hard to understand why Speaker Boehner would walk away from this deal," a visibly irritated Obama said. "This was an extraordinarily fair deal.
    Boehner Ends Debt-Limit Talks With White House, Turns to Senate Leaders - FoxNews.com

    Yeah, it's a real head scratcher, isn't it? How long would you dicker with a car salesman who keeps raising the price?

  6. #186
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    Re: 'Gang of Six' revives hope for big deal in stalled debt-ceiling talks

    Actually, CNN is reporting Boehner asked to roll back a bunch of provisions in healthcare reform and the Whitehouse said "Fine, but we want to roll back the bush tax cuts on the richest Americans."

    End of convo.

  7. #187
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    Re: 'Gang of Six' revives hope for big deal in stalled debt-ceiling talks

    Quote Originally Posted by LuckyDan View Post
    Your HuffLink has this on Medicare:



    Here's something Huff missed, which I believe more directly addresses your concern:



    Healthcare Finance News
    We will have to wait for further details on the Medicare cuts vs Military cuts. And what about the additional tax cuts proposed, totaling over 1.5 trillion?
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

  8. #188
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    Re: 'Gang of Six' revives hope for big deal in stalled debt-ceiling talks

    Quote Originally Posted by Catawba View Post
    We will have to wait for further details on the Medicare cuts vs Military cuts. And what about the additional tax cuts proposed, totaling over 1.5 trillion?
    See #186, to wit

    The Gang's plan elminates the AMT and claims by doing so it saves $660 billion in middle class tax payments over the next 10 years. Problem is, the middle class never pays the AMT, because each year a "patch" is legisated exempting them from the tax.

    It factors in another $750 billion over 10 years by counting tax credits now set to expire. Trouble there is many will almost certainly be renewed. Same with many of the Bush cuts. Allowing all of them to expire would lead to a middle class tax increase. That's why BO renewed them in December, then vowed never to make that mistake again. Considering he'll either be gone or reelected next time they come up, I believe him.

    It's phony baloney funny money savings.

    Are you willing to cut any entitlements at all? Any?

  9. #189
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    Re: 'Gang of Six' revives hope for big deal in stalled debt-ceiling talks

    Quote Originally Posted by LuckyDan View Post
    See #186, to wit




    It's phony baloney funny money savings.

    Are you willing to cut any entitlements at all? Any?
    Yes, I am for cutting all waste or fraud that exist in them, and I am willing to cut military spending by 60% and end both of our wars immediately. Which tax cuts are you prepared to end?
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

  10. #190
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    Re: 'Gang of Six' revives hope for big deal in stalled debt-ceiling talks

    Quote Originally Posted by Catawba View Post
    Yes, I am for cutting all waste or fraud that exist in them, and I am willing to cut military spending by 60% and end both of our wars immediately. Which tax cuts are you prepared to end?
    You didn't answer my question, but I'll answer yours.

    None.

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