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Thread: House GOP revolts against Boehner plan

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    Re: House GOP revolts against Boehner plan

    If America does enter into default, the first people not to be paid should be members of Congress.
    The ghost of Jack Kevorkian for President's Physician: 2016

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    Re: House GOP revolts against Boehner plan

    You are absolutely right about that.

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    Re: House GOP revolts against Boehner plan

    Update:

    CBO has now scored the Reid proposal. The score can be found at: http://www.cbo.gov/ftpdocs/123xx/doc...ControlAct.pdf

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    Re: House GOP revolts against Boehner plan

    Quote Originally Posted by donsutherland1 View Post
    Update:

    CBO has now scored the Reid proposal. The score can be found at: http://www.cbo.gov/ftpdocs/123xx/doc...ControlAct.pdf
    Saves more money than the Republican proposal. No wonder the Tea Party is pissed at the GOP.
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    Re: House GOP revolts against Boehner plan

    In post #60 in this thread, I stated that I don't believe any credible ratings agency can or should ignore U.S. political dysfunctionality. Hence, I do not believe a AAA rating for the U.S. can be rationalized considering its elevated political risk profile. Given the political dysfunction that is draining the nation's democratic system of the capacity to make sound decisions and the nation of its strategic flexibility, one cannot have complete confidence that the U.S. would be able to recognize and respond to critical issues in an effective and timely basis. That means that even if the U.S. were to adopt a credible fiscal consolidation program, there would be genuine concerns that the U.S. would not be able to sustain the program through its duration.

    Apparently, David Beers, London-based managing director of sovereign credit ratings at Standard & Poor's is also concerned about U.S. political dysfunctionality. Bloomberg.com reported:

    In an interview this week at Union Station, just blocks from the U.S. Capitol, Beers said he views the debt limit fight as a test of lawmakers’ willingness to tackle the deficit.

    “For us, the issue is not the debt limit -- it’s the underlying fiscal dynamics,” said Beers, who has been rating governments for the company for 20 years. “It’s not obvious to us that this political divide that is proving so difficult to bridge is going to be any more bridgeable three months from now or six months from now or a year from now.”


    U.S. Credit Rating Rests On S&P

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    Re: House GOP revolts against Boehner plan

    Quote Originally Posted by danarhea View Post
    Saves more money than the Republican proposal. No wonder the Tea Party is pissed at the GOP.
    And does not have math issues like the GOP plan
    PeteEU

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    Re: House GOP revolts against Boehner plan

    Once again, the irony is breathtaking to behold. The Tea Party, to the extent that they had a platform at all, stressed that they were frustrated with Washington for straying from the Constitution. The inviolable and holy Constitution. But what is the recurring theme among Tea Pary politicians? They want to REWRITE the Constitution! And they are apparently prepared to burn the country down if they don't get their way.

    "BOEHNER: Well, first they want more. And my goodness, I want more too. And secondly, a lot of them believe that if we get passed August the second and we have enough chaos, we could force the Senate and the White House to accept a balanced budget amendment. I’m not sure that that — I don’t think that that strategy works. Because I think the closer we get to August the second, frankly, the less leverage we have vis a vis our colleagues in the Senate and the White House."

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    Re: House GOP revolts against Boehner plan

    Huzzah...on the 26th of July, 4 years after Harry Reid took leadership of the dem controlled senate, democrats offer a proposal! And for all the hate towards the Tea Party...they are the ones forcing both worthless parties to actually address the debt.

    I dont care who offers what...if it is the correct plan it should be voted on. There should be massive cuts, a legislated path to a balanced budget, and any new taxes should be raised solely to pay down the debt.

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    Re: House GOP revolts against Boehner plan

    Quote Originally Posted by AdamT View Post
    Once again, the irony is breathtaking to behold. The Tea Party, to the extent that they had a platform at all, stressed that they were frustrated with Washington for straying from the Constitution. The inviolable and holy Constitution. But what is the recurring theme among Tea Pary politicians? They want to REWRITE the Constitution! And they are apparently prepared to burn the country down if they don't get their way.

    "BOEHNER: Well, first they want more. And my goodness, I want more too. And secondly, a lot of them believe that if we get passed August the second and we have enough chaos, we could force the Senate and the White House to accept a balanced budget amendment. I’m not sure that that — I don’t think that that strategy works. Because I think the closer we get to August the second, frankly, the less leverage we have vis a vis our colleagues in the Senate and the White House."
    When the party politicians have wrecklessly spent the country into a...what...now 15.5 trillion dolar hole...maybe its time to consider an amendment that forces responsibility. They shouldnt HAVE to...but both parties have demonstrated why it is necessary. Someday you might have children. THEY might have jobs. THEIR children are going to have to pay for congresses stupidity. You explain to them why you just sat back and encouraged the same wreckless stupidity.

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    Re: House GOP revolts against Boehner plan

    Quote Originally Posted by VanceMack View Post
    Huzzah...on the 26th of July, 4 years after Harry Reid took leadership of the dem controlled senate, democrats offer a proposal! And for all the hate towards the Tea Party...they are the ones forcing both worthless parties to actually address the debt.

    I dont care who offers what...if it is the correct plan it should be voted on. There should be massive cuts, a legislated path to a balanced budget, and any new taxes should be raised solely to pay down the debt.
    OMG, VanceMack!

    That's exactly what the President's initially debt limit proposal would have done! $4 TRILLION in spending cuts, $1 TRILLION in revenue not by taxing anyone individually, but by closing tax loopholes. Now, I understand the uncertainty of most convervatives that any new revenues wouldn't go towards paying down the debt and, thus, reducing the deficit, but part of being good fiscal stewards is not spending more than you take it. However, that alone won't cut into the deficit. In order to have real deficit reduction, you have to pay down on your debts. But as has already been stated over and over and over again, the country is broke (for all practical purposes). Thus, the question I've asked folks over and over again has been how do you pay down your debt in a meaningful way if you don't have any additional revenue coming in?

    You can cut billions from the budget each year, but it's a drop in the bucket compared to the trillions this country owes. The only way to significantly pay down the debt and reduct the deficit over time is to cut spending AND generate revenue. Otherwise, using spending cuts alone we'll never get to any level of fiscal sanity for decades! In other words, we won't be looking at just a lost decade, i.e., Japan. We'll be looking at DECADES at the rate the Tea Party and some Republicans are going in their stubborness and unwillingness to see reason.

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