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Archive for Wednesday, July 27, 2011

Boehner to rewrite criticized GOP debt plan

July 27, 2011

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— Stung by revelations that his plan would cut spending less than advertised, House Speaker John Boehner on Tuesday postponed a vote on a debt-ceiling measure that was already running into opposition from tea party conservatives. The move came just a week before an Aug. 2 deadline for staving off the potential financial chaos of the nation’s first-ever default.

With time running short, the speaker promised to quickly rewrite his debt-ceiling legislation after budget officials said it would cut spending by less than $1 trillion over the coming decade instead of the promised $1.2 trillion. The vote originally scheduled for today is now set for Thursday. That may give Boehner more time to hunt for votes, but it gives Congress and the White House even less time for maneuvering.

Meanwhile, public head-butting between Democratic President Barack Obama and the Republicans showed no sign of easing. The White House declared Obama would veto the Boehner bill, even if it somehow got through the House and the Democratic-controlled Senate.

For all that, it was the tea party-backed members of Boehner’s own party who continued to vex him and heavily influence the debt and deficit negotiating terms — not to mention his chances of holding on to the speakership.

Their adamant opposition to any tax increases forced Boehner to back away from a “grand bargain” with Obama that might have made dramatic cuts in government spending. Yet when Boehner turned this week to a more modest cost-cutting plan, with no tax increases, many conservatives balked again. They said the proposal lacked the more potent tools they seek, such as a constitutional mandate for balanced budgets.

Rep. Jim Jordan of Ohio, chairman of a large group of conservative Republicans, sent a tremor through the Capitol on Tuesday when he said he doubted Boehner had enough support to pass his plan. The Boehner bill would provide an immediate debt ceiling increase but would require further action before the 2012 elections.

Obama strongly opposes that last requirement, arguing that it would reopen the delicate and crucial debt discussions to unending political pressure during next year’s campaigns.

The president supports a separate bill, pushed by Majority Leader Harry Reid in the Democratic-controlled Senate, that would raise the debt ceiling enough to tide the government over through next year — and the elections.

Boehner wasn’t helped when presidential candidate Tim Pawlenty and the groups Tea Party Patriots and Tea Party Express criticized his plan. A worse blow came when a congressional analysis said his plan would produce smaller savings than originally promised. Of particular embarrassment was a Congressional Budget office finding that Boehner’s measure would cut the deficit by just $1 billion next year.

Comments

grammaddy 3 years, 5 months ago

Stunned? Right! He knew exactly what he was doing. And now America does too.

just_another_bozo_on_this_bus 3 years, 5 months ago

http://krugman.blogs.nytimes.com/2011/07/26/the-cult-that-is-destroying-america/

"'Centrism': The Cult That Is Destroying America by Paul Krugman Watching our system deal with the debt ceiling crisis — a wholly self-inflicted crisis, which may nonetheless have disastrous consequences — it’s increasingly obvious that what we’re looking at is the destructive influence of a cult that has really poisoned our political system.

And no, I don’t mean the fanaticism of the right. Well, OK, that too. But my feeling about those people is that they are what they are; you might as well denounce wolves for being carnivores. Crazy is what they do and what they are.

No, the cult that I see as reflecting a true moral failure is the cult of balance, of centrism.

Think about what’s happening right now. We have a crisis in which the right is making insane demands, while the president and Democrats in Congress are bending over backward to be accommodating — offering plans that are all spending cuts and no taxes, plans that are far to the right of public opinion.

So what do most news reports say? They portray it as a situation in which both sides are equally partisan, equally intransigent — because news reports always do that. And we have influential pundits calling out for a new centrist party, a new centrist president, to get us away from the evils of partisanship.

The reality, of course, is that we already have a centrist president — actually a moderate conservative president. Once again, health reform — his only major change to government — was modeled on Republican plans, indeed plans coming from the Heritage Foundation. And everything else — including the wrongheaded emphasis on austerity in the face of high unemployment — is according to the conservative playbook.

What all this means is that there is no penalty for extremism; no way for most voters, who get their information on the fly rather than doing careful study of the issues, to understand what’s really going on.

You have to ask, what would it take for these news organizations and pundits to actually break with the convention that both sides are equally at fault? This is the clearest, starkest situation one can imagine short of civil war. If this won’t do it, nothing will.

And yes, I think this is a moral issue. The “both sides are at fault” people have to know better; if they refuse to say it, it’s out of some combination of fear and ego, of being unwilling to sacrifice their treasured pose of being above the fray.

It’s a terrible thing to watch, and our nation will pay the price."

Fred Whitehead Jr. 3 years, 5 months ago

Bozo, I want to thank you for your reasonable and well-stated of what should be clearly obvious to reasonable poeple. I agree with most of what you say, but the real problem is the insane polarity that has been created by the radio talkshow genre, yammering fools who only are there to stir up hate and discontent and profit from their shameless marketing of their outrageous opinions. I recall when then presidential candidate Robert Dole came on the puss bimbo show and chatted amiably with this closet nazi radio personality (Don't believe me? Look up and study Joseph Goebbels, propaganda minister for the Third Reich) He lost the election, and I think that this ill-starred interview with that despicable personage and his "EIB" Network might have something to do with people waking up to the extreme politics of the extreme right. But I hear that the current speaker of the house is also consorting with this spawn of Satan and that this ill-starred matrimony will only serve to convince rational people that the scourge of the tea baggers will only serve to continue the decline of our country.

By the way, Palin had her claws on the tea party crowd, has anybody heard from the moose lady lately??????

jhawkinsf 3 years, 5 months ago

So, according to an extreme left winger like Krugman, the far right are fanatics and the middle are a cult. Leaving only the far left as being reasonable and correct. Have I interpreted this correctly? I suspect a far right winger might see things a little different. And as someone who considers myself a centrist, I can assure Mr. Krugman (and Bozo and frwent) that I'm a member of no cult. But thank you for the accusation anyway.

jafs 3 years, 5 months ago

No, I think you missed the point a little bit.

His point is that Obama is in fact a centrist, who is trying to accommodate the demands of the right, and compromise, but he's being portrayed as an intransigent left-wing radical.

usnsnp 3 years, 5 months ago

I wonder if Boehner has to talk to Rush about the re-write. If you listen to Rush on the radio he says that he calls Boehner and gives him his marching orders.

Richard Heckler 3 years, 5 months ago

Peoples Budget and Jobs!!!!

Congress should be fighting for Jobs Jobs Jobs Jobs Jobs!

This is the only fiscally responsible budget:

* Creates good-paying jobs
* Fully maintains our social safety net
* Invests in education
* Ends our costly wars
* Closes the tax loopholes that have made offshoring jobs profitable
* Ends oil and gas subsidies that pollute our country at taxpayer expense
* Creates a national infrastructure investment bank to help us make intelligent investments for the future

People's Budget = $4 trillion debt reduction:

http://www.democracynow.org/2011/4/14/while_obama_touts_compromise_with_gop

http://www.thenation.com/blog/159939/fighting-peoples-budget

Flap Doodle 3 years, 5 months ago

How many times today did you post this same twaddle on this award-winning website, merrill?

just_another_bozo_on_this_bus 3 years, 5 months ago

You've got the wart on a butt's eye view. Why do you need to ask? Are you a blind wart?

Richard Heckler 3 years, 5 months ago

If all city and state governments plus the federal government would cut corporate welfare and invest this money in IMPROVED Medicare Single Payer Insurance for ALL.

The economic impact of IMPROVED Medicare Single Payer Insurance:

  1. many of us would be saving thousands of dollars annually

  2. big business and small business could operate for less

  3. all governments and school districts could cut operating expenses substantially

  4. employed blue and white collar workers would be healthier thus more productive

  5. all humans would have necessary healthcare 24/7

  6. in general OUR cost of living would decrease across the board

  7. New industry,small business and jobs would develop

Now a new type of medical insurance for all becomes a strong economic driver for all communities in the USA.

Thus our tax dollars would be invested in our local communities providing a jump start to economic growth that has been squandered as one result of corp welfare.

With corporations routinely defaulting on their pension promises, more and more workers must rely on their individual wealth to make up the difference. The stock market collapse at the turn of the millennium wiped out much of the financial wealth of middle class Americans, and the collapse of the housing bubble has wiped out much of their remaining wealth.

Flap Doodle 3 years, 5 months ago

"TIPS FOR NOT APPEARING CRAZY ON THE INTERNET ...And there is another type of Caps Lock user who doesn’t capitalize whole sentences but INSTEAD capitalizes a few SPECIFIC words for EMPHASIS. Now read a sentence like that aloud, shouting every time you come to a capitalized word, and tell me you do not sound like an absolute freakin’ lunatic. This method can turn even basic known facts into crazy-sounding gibberish (“The SQUARE of the HYPOTENUSE of a RIGHT triangle equals the SUM of the squares of the OTHER two sides”)...." http://pajamasmedia.com/blog/tips-for-not-appearing-crazy-on-the-internet/

Richard Heckler 3 years, 5 months ago

The Tea Party is all about increasing the debt as Ryans bill indicated by about $6 trillion. Cutting taxes for the wealthy families and corporations is an expense that adds plenty to the national debt = dumb economics.

Hacking away on programs that are paid for,keep food on the table and money in the economy leaves plenty to be desired. This is Koch/Walton(Wal-Mart)/Norquist leadership which is absolute nonsense.

Going to Washington and doing as they promised without knowing what they are doing is not specifically too smart.

So far the Tea Party is a repeat performance of the neoconservatives aka as cutting services,cutting taxes but not cutting spending = wreckanomics.

yourworstnightmare 3 years, 5 months ago

Boehner is in way over his head. He is all talk and swagger and braggadocio, but when it comes down to writing laws and specifics, he is lost.

What a buffoon. Next...

Flap Doodle 3 years, 5 months ago

In other news: "While officials from the Obama Administration raised their rhetoric over the weekend about the possibility of a debt default if the debt ceiling isn’t raised, they privately have been telling top executives at major U.S. banks that such an event won’t happen, FOX Business has learned. In a series of phone calls, administration officials have told bankers that the administration will not allow a default to happen even if the debt cap isn’t raised by the August 2 date Treasury Secretary Tim Geithner says the government will run out of money to pay all its bills, including obligations to bond holders. Geithner made the rounds on the Sunday talk shows saying a default is imminent if the debt ceiling isn’t raised, and President Obama issued a similar warning during a Friday press conference after budget negotiations with House Republicans broke down...." http://wizbangblog.com/2011/07/27/deceiver-in-chief/

yourworstnightmare 3 years, 5 months ago

Yeah, the dude's only contribution to most of his posts is "In other news..."

yourworstnightmare 3 years, 5 months ago

Jesus, $1 billion only in the first year? Boehner is a joke.

It will be interesting to see how Boehner deals with the tea party crazies who are coming home to roost.

Tea, anyone?

jafs 3 years, 5 months ago

Last time I recall, it was a combination of spending cuts and raising revenue that would have cut the deficit by much more than either Reid's or Boehner's plan does.

Of course, it would have removed tax loopholes, and perhaps allowed the Bush tax cuts to expire on the wealthy and large corporations, so T-Party folks and other Republicans wouldn't consider it.

Richard Heckler 3 years, 5 months ago

IF the debt limit IS NOT increased there WILL BE a lot of very smart and very rich people plus many countries which have invested in the USA that WILL BE quite angry..... simple as that.

Not only that many many other important financial aspects would feel the impact in a huge way such as:

  • Wall Street investments up in smoke (better get out now until this matter is resolved)
  • Wall Street Banks gone
  • retirement plans gone
  • millions upon millions upon millions of jobs lost
  • medical insurance up in smoke
  • homes by the millions would be lost
  • soldiers could not be paid
  • military industrial complex down the tubes
  • millions of financial institutions up in smoke
  • what's left of USA industry gone
  • elected officials would not get paid
  • in essence the USA economy is history

Who in the hell would loan the USA money for recovery?

China ,Canada and Japan would own the USA pure and simple.

Tell repubs to get on with it and cut the absolute nonsense aka screwing with our jobs,our homes, our medical insurance, OUR SOCIAL SECURITY,OUR MEDICARE AND OUR ECONOMY! Stop being stupid!

Flap Doodle 3 years, 5 months ago

“Tips for not appearing crazy on the internet …And there is another type of Caps Lock user who doesn’t capitalize whole sentences but INSTEAD capitalizes a few SPECIFIC words for EMPHASIS. Now read a sentence like that aloud, shouting every time you come to a capitalized word, and tell me you do not sound like an absolute freakin’ lunatic. This method can turn even basic known facts into crazy-sounding gibberish (“The SQUARE of the HYPOTENUSE of a RIGHT triangle equals the SUM of the squares of the OTHER two sides”)…” http://pajamasmedia.com/blog/tips-for-not-appearing-crazy-on-the-internet/

jayhawxrok 3 years, 5 months ago

The Tea Party are idiots, most of whom can't articulate a single argument. None of the right cares about America, they only care about their party line nonsense. Boehner can't control Cantor and the reckless freshmen in the House.

It's frustrating to watch the GOP pretend America is stupid. The revenue increases are not tax increases and they know this, but since Bush they're so used to lying and repeating their lies over and over and over, these losers really think that in itself will make their lies poof into fact.

Not a Chance.

yourworstnightmare 3 years, 5 months ago

Yeah, Steve Wynn is the first person I look to for determining if things are "weird".

http://www.tmz.com/person/steve-wynn/

yourworstnightmare 3 years, 5 months ago

It is clear that Boehner is a babe in the woods, here.

He hasn't a clue on how to produce a budget document, and he is now caught between tea and a hard place.

I'll have some popcorn with my tea....

sr80 3 years, 5 months ago

I wonder if goldman sachs has any of those reverse derivatives, I imagine a person could make a serious load of cash for a US default !

Flap Doodle 3 years, 5 months ago

Not all that long ago, "President's budget sinks, 97-0 By Alexander Bolton - 05/25/11 06:15 PM ET The Senate voted unanimously on Wednesday to reject a $3.7 trillion budget plan that President Obama sent to Capitol Hill in February. Ninety-seven senators voted against a motion to take it up...." http://thehill.com/homenews/senate/163347-senate-votes-unanimously-against-obama-budget Not a single Democratic Senator could bear to vote for the stinking pit of corruption Dear Leader tried to foist off on them. That's pretty darned sad.

Jim Phillips 3 years, 5 months ago

Let's not forget that the Democrat controlled House and the Democrat controlled Senate didn't have the stones to pass a budget prior to the 2010 elections, which they could have done with no resistance. They were afraid of getting waxed even worse than they did had they passed it.

And let us not forget that Senator Obama was quite content to shu the government down under the Bush Presidency, warning that raising the debt ceiling would create a debt too steep for our grandchildren.

And, we cannot forget that Senator Obama voted for most, if not all of the tax and spend measures brought to the Senate. So the mess he "inherited", he helped to create.

nytemayr 3 years, 5 months ago

Ok reality is here! Boehner and Cantor now know 1) "Nothing leaves Congress unless its approved by the Senate" 2)The President is not the problem. 3)The Tea Party Caucus is not with the Republican Party 4)OBama doesn't need Boehner 5)Boehner needs Harry Reid 6) Harry Reid doesn't need Boehner 7)Boehner and Cantor didn't know 1 through 6 yesterday!

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