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Thread: Senate says 'no' to federal debt commission Obama endorsed

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    Re: Senate says 'no' to federal debt commission Obama endorsed

    IMO, the lack of support for a commission that would offer a potentially credible means for addressing the U.S. fiscal imbalances highlights the lack of willingness for political leaders to take difficult but necessary measures. Just this week, one saw:

    - The CBO's projection of deficits running $600 billion or more per year through 2020 (assuming the 2001 and 2003 tax cuts are not renewed)

    - New concern that Japan's debt will be downgraded from AAA and that the U.S. could follow without a credible fiscal consolidation approach

    - The Senate's failure to adopt a debt commission

    - "Free lunch" advocates seeking indecision by rejecting the possibility of benefit cuts on one hand and tax hikes on the other

    IMO, Washington lacks the willingness to take credible fiscal consolidation measures at this time. Moreover, a non-defense, discretionary spending freeze would accomplish very little (savings would be tiny). Given Washington's lack of willingness to deal with its fiscal imbalances, the best chance for some progress might be a failure to gain consensus to renew the expiring tax cuts. Clearly, such a measure would be suboptimal, as a balance between more modest tax hikes, spending reductions, and entitlement reform would be far preferable. But in the face of inaction on an issue that poses a long-term threat to U.S. fiscal and economic vitality, even the suboptimal approach is preferable to inaction.

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    Re: Senate says 'no' to federal debt commission Obama endorsed

    Quote Originally Posted by RightinNYC View Post
    Again, I'm not saying it doesn't sound like a pretty good idea, I'm saying that I can see why people from both sides might hesitate on this. For the Republicans in particular, I don't know that I would trust the Democrats not to put together a package in such a way that would force me to make some particularly damaging votes.
    Yes, but the thing is that republicans, the party of fiscal responsibility supposedly, when in control did nothing, and when not in control block doing anything in terms of the deficit.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: Senate says 'no' to federal debt commission Obama endorsed

    Quote Originally Posted by Redress View Post
    Yes, but the thing is that republicans, the party of fiscal responsibility supposedly, when in control did nothing, and when not in control block doing anything in terms of the deficit.
    They're not "blocking doing anything in terms of the deficit," they're opposed to doing this particular thing in terms of the deficit.

    If Obama came out tonight and proposed a 10% across the board cut in everything that this panel would have looked at, I bet you'd get a majority of Republicans to support that.
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    Re: Senate says 'no' to federal debt commission Obama endorsed

    Quote Originally Posted by RightinNYC View Post
    If Obama came out tonight and proposed a 10% across the board cut in everything that this panel would have looked at, I bet you'd get a majority of Republicans to support that.
    Long as it comes with a 10% across the board cut in taxes as well!
    It was the Austrasians, that hewed on bravely through the thick of the fight, it was they who found and cut down the Saracen King.

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    Re: Senate says 'no' to federal debt commission Obama endorsed

    Quote Originally Posted by JoeMama View Post
    Why? Seems like a reflection of Congress's love affair with pork barrel spending.
    What say you?

    Senate says 'no' to federal debt commission Obama endorsed - article url
    interesting that those who yell the loudest about spending gave the least support for this task force.

    that said, the dems and reps who voted against this should be ashamed of themselves.

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


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    Re: Senate says 'no' to federal debt commission Obama endorsed

    Quote Originally Posted by donsutherland1 View Post
    IMO, the lack of support for a commission that would offer a potentially credible means for addressing the U.S. fiscal imbalances highlights the lack of willingness for political leaders to take difficult but necessary measures. Just this week, one saw:

    - The CBO's projection of deficits running $600 billion or more per year through 2020 (assuming the 2001 and 2003 tax cuts are not renewed)

    - New concern that Japan's debt will be downgraded from AAA and that the U.S. could follow without a credible fiscal consolidation approach

    - The Senate's failure to adopt a debt commission

    - "Free lunch" advocates seeking indecision by rejecting the possibility of benefit cuts on one hand and tax hikes on the other

    IMO, Washington lacks the willingness to take credible fiscal consolidation measures at this time. Moreover, a non-defense, discretionary spending freeze would accomplish very little (savings would be tiny). Given Washington's lack of willingness to deal with its fiscal imbalances, the best chance for some progress might be a failure to gain consensus to renew the expiring tax cuts. Clearly, such a measure would be suboptimal, as a balance between more modest tax hikes, spending reductions, and entitlement reform would be far preferable. But in the face of inaction on an issue that poses a long-term threat to U.S. fiscal and economic vitality, even the suboptimal approach is preferable to inaction.
    damn you're articulate.

    tax hikes and spending cuts, what we need. the real issue is WHO gets the tax hikes and spending cuts, as usual.

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


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    Re: Senate says 'no' to federal debt commission Obama endorsed

    Wow, way too much spin on this issue...

    A special commission to force votes ostensibly to cut the deficit. Hello, wake up people. Reality check, do you really think this power would remain limited to "just" long term spending issues?

    Am I the only one that sees this for what it is? It is a filibuster avoidance commission. Get this through, and suddenly you would have found that "Healthcare" qualified as a long term spending issue.

    Wake up people, and quit being tools. "I guess Republican's aren't interested in reducing spending" What, was that the line from the NYT? MSNBC on this? Probably both.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Senate says 'no' to federal debt commission Obama endorsed

    Quote Originally Posted by liblady View Post
    damn you're articulate.

    tax hikes and spending cuts, what we need. the real issue is WHO gets the tax hikes and spending cuts, as usual.
    No no no no no no no no no no. When will you lefties realize tax hikes are a NEGATIVE in almost all cases? (yes, even I will admit you can cut taxes TOO much however, we're WAY above that.)

    Massive spending cuts on wasteful programs, coupled with across the board tax cuts and further targeted tax cuts to spur economic investment and growth are the solution.

    Sadly, that would mean many pet projects the left believes in, and "making the rich richer" tax cuts would ensue. So ideologically I'm guessing you cannot even begin to contemplate such.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Senate says 'no' to federal debt commission Obama endorsed

    Quote Originally Posted by RightinNYC View Post
    They're not "blocking doing anything in terms of the deficit," they're opposed to doing this particular thing in terms of the deficit.

    If Obama came out tonight and proposed a 10% across the board cut in everything that this panel would have looked at, I bet you'd get a majority of Republicans to support that.
    Quote Originally Posted by Charles Martel View Post
    Long as it comes with a 10% across the board cut in taxes as well!
    And of course here we see part of the problem with your suggestion. Since republicans have shown no willingness to cut spending, suggesting that they would support it, if only it was the right cuts rings false. They have had the chance, and did not do it.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

  10. #40
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    Re: Senate says 'no' to federal debt commission Obama endorsed

    Quote Originally Posted by MrVicchio View Post
    No no no no no no no no no no. When will you lefties realize tax hikes are a NEGATIVE in almost all cases? (yes, even I will admit you can cut taxes TOO much however, we're WAY above that.)

    Massive spending cuts on wasteful programs, coupled with across the board tax cuts and further targeted tax cuts to spur economic investment and growth are the solution.

    Sadly, that would mean many pet projects the left believes in, and "making the rich richer" tax cuts would ensue. So ideologically I'm guessing you cannot even begin to contemplate such.
    i'm a very tired of your veiled and not-so veiled references to my intelligence. it seems to me that we had some very good years under clinton without massive tax cuts. in the middle of 2 wars, the bush tax cuts were irresponsible.

    ss is NOT a "pet project, btw, it's the only income many people have in their old age.

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


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