- Joined
- Apr 14, 2008
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Looks like we'll have to wait another day before seeing a debt limit bill come out the House. Per FoxNews.com, Boehner couldn't muster the votes to pass his bill out of the House. But, the article went on to say that should the bill pass, the Senate would only have two options to end this debt limit standoff: pass the Cut, Cap and Balance bill that was passed in the House or miss the August 3 deadline. So, I figured I'd better bone up on the CCB bill.
While reading the bill, I came across a reference to the Balanced Budget and Emergency Deficit Control Act of 1985. This law, as extended last in Feb 2004, extended the debt limit out to FY2009. While the spending limits on discretionary spending did not apply a hard cap, there were recommended spending limits to military spending, but surprisingly not on entitlement spending. Now, here's the kicker: In order for the BBEDC Act to pass, it needed bypartisan support. Well, the 108th (2nd Session) got it:
House membership: 204 D / 229 R (Reps controlled)
BBEDC Act passed: 271-154; 47 Dems sided w/Reps
Senate membership: 48 D / 51 R (Reps controlled)
BBEDC Act passed: 61-31; 10 Dems sided w/Reps
So, now I'm curious...
Clearly, Congress couldn't hold spending for FY2009 (10/1/08 - 09/30/09) forward due to the housing bubble of 2008 (Fall). Because TARP was enacted in Nov 2008, it killed any chance of holding true for FY2009 figures. So, I'm curious to know if Congress stayed within budget from FY2005 thru FY2007?
Conservative, since you're good at finding government charts online, here's where you can prove Republicans right or wrong atleast for fiscal year FY05 (period ending 09/30/06; Reps controlled Congress, 2003-2005). Dems controlled Congress from FY06-09. So, except for two wars, Hurricans Katrina and (What was the one that hit Galvastan, TX? a few years later?), I don't know of any other crisis that would have affected Congress' spending from FY06-07. So, did either side stay within the appropriate spending limits? Here are the figures per the Act:
- fiscal year 2005, for the discretionary category: $816,404,000,000. (Notice each line states "not less than" such and such amount as specified directly toward a specific entity as opposed to "not more than"; in short, no spending caps were in place.)
- FY 2006-2009: same for FY2005 "adjusted to reflect the change in Consumer Price Index over the previous 12 months prior to October 1, 2004."
Judging from past history as far as the wording of spending bills, it's no wonder the Tea Party doesn't trust Boehner. His own bill doesn't have any spending caps, whereas the Reid's plan does. I'm not glouting; far from it. Just pointing out fact here. But that doesn't mean either side strayed from staying within the minimal spending limits as outlined in the Act. Still, I am curious to know if they did atleast for FY05-07. I'll do my own research on it tomorrow and get back to this. But I'd be curious to know what you find, Conservative, if you don't mind.
While reading the bill, I came across a reference to the Balanced Budget and Emergency Deficit Control Act of 1985. This law, as extended last in Feb 2004, extended the debt limit out to FY2009. While the spending limits on discretionary spending did not apply a hard cap, there were recommended spending limits to military spending, but surprisingly not on entitlement spending. Now, here's the kicker: In order for the BBEDC Act to pass, it needed bypartisan support. Well, the 108th (2nd Session) got it:
House membership: 204 D / 229 R (Reps controlled)
BBEDC Act passed: 271-154; 47 Dems sided w/Reps
Senate membership: 48 D / 51 R (Reps controlled)
BBEDC Act passed: 61-31; 10 Dems sided w/Reps
So, now I'm curious...
Clearly, Congress couldn't hold spending for FY2009 (10/1/08 - 09/30/09) forward due to the housing bubble of 2008 (Fall). Because TARP was enacted in Nov 2008, it killed any chance of holding true for FY2009 figures. So, I'm curious to know if Congress stayed within budget from FY2005 thru FY2007?
Conservative, since you're good at finding government charts online, here's where you can prove Republicans right or wrong atleast for fiscal year FY05 (period ending 09/30/06; Reps controlled Congress, 2003-2005). Dems controlled Congress from FY06-09. So, except for two wars, Hurricans Katrina and (What was the one that hit Galvastan, TX? a few years later?), I don't know of any other crisis that would have affected Congress' spending from FY06-07. So, did either side stay within the appropriate spending limits? Here are the figures per the Act:
- fiscal year 2005, for the discretionary category: $816,404,000,000. (Notice each line states "not less than" such and such amount as specified directly toward a specific entity as opposed to "not more than"; in short, no spending caps were in place.)
- FY 2006-2009: same for FY2005 "adjusted to reflect the change in Consumer Price Index over the previous 12 months prior to October 1, 2004."
Judging from past history as far as the wording of spending bills, it's no wonder the Tea Party doesn't trust Boehner. His own bill doesn't have any spending caps, whereas the Reid's plan does. I'm not glouting; far from it. Just pointing out fact here. But that doesn't mean either side strayed from staying within the minimal spending limits as outlined in the Act. Still, I am curious to know if they did atleast for FY05-07. I'll do my own research on it tomorrow and get back to this. But I'd be curious to know what you find, Conservative, if you don't mind.
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