The weekend has seen some rather stunning developments in the pending crisis from Republicans falsely linking the budget to the debt ceiling and using it to blackmail America to succumb to their class warfare. The Senate Democrats have introduced their own plan. John Boehner (R-OH) has cravenly abandoned the negotiations at the eleventh hour, and we have a strong indication that Obama did not cave-in to Republican terrorism, as so many expected him to do. This will bring you up to date.
Senate Democrats have drafted a sweeping debt-reduction plan that would slice $4 trillion from projected borrowing over the next decade without touching the expensive health and retirement programs targeted by President Obama.
Instead, Senate Democrats are proposing to stabilize borrowing through sharp cuts at the Pentagon and other government agencies, as well as $2 trillion in new taxes, primarily on families earning more than $1 million year, according to a copy of the plan obtained by The Washington Post.
With debt-reduction talks under way between Obama and congressional leaders, Senate Democrats are unlikely to adopt the blueprint. However, it has gained broad support among those eager to chart a path to solving the nation’s budget problems without making politically painful cuts to Social Security and Medicare… [emphasis added]
Inserted from <Washington Post>
On the surface, this sounds excellent, but I can’t give this a thumbs up or down until I get to examine the plan in detail. There is one budget plan, however, that I do endorse and enthusiastically support: The People’s Budget [PDF], by the Democrats in the Congressional Progressive Caucus.
What may take place at today’s summit is now in limbo, because, in an all too common Republican ploy, John “Agent Orange” Boehner has withdrawn from the negotiations, demonstrating that he never intended to negotiate in good faith.
House Speaker John Boehner is abandoning discussions with the White House on a large-scale debt deal slated to achieve $4 trillion in deficit reduction. The bone of contention is Boehner’s insistence on no tax increases in the deal. Instead, Boehner said the talks should focus on reaching a smaller debt-reduction deal.
"Despite good-faith efforts to find common ground, the White House will not pursue a bigger debt reduction agreement without tax hikes," Boehner said in the statement… [emphasis added]
Inserted from <TPM>
Boehner wants to pursue a smaller [short term] deal for one reason only. He wants to extract more concessions, give nothing in return, and begin the blackmail all over again. Just say no.
The best news coming out of this is that, the reason Boehner blinked may well be that he learned that Obama will not cave-in this time.
Here’s potentially good news, following Minority Leader Nancy Pelosi’s meeting with President Obama Friday.
WASHINGTON -(Dow Jones)- Minority Leader Nancy Pelosi (D., Calif.) reassured angry House Democrats that a proposal to change a key measure of inflation linked to Social Security was not likely to be part of a debt ceiling deal, lawmakers said Friday.
Pelosi calmed Democrats upset over a proposal to change how the Consumer Price Index is calculated that would curb Social Security benefits, dimming the prospects of an idea once floated as an area of bipartisan support.
"She basically reassured the group that there’s no way it’s going to happen," said Rep. Barney Frank (D., Mass.), following a Friday afternoon meeting of House Democrats in the basement of the Capitol building. "After this, I do not think reducing the CPI in any way is a viable option."
Let’s hope so, because a Chained CPI might not be considered a Social Security cut by some of the debt ceiling negotiators, but by any other name it’s still a cut… [emphasis added]
Inserted from <Daily Kos>
Chained CPI is a significant cut as I calculated here.
Since the beginning I have said that, unless Democrats cave-in first, Republicans will, because the first and worst hurt in a crisis over failure to extend the debt ceiling are the banksters. Republicans will not throw banksters under the bus.
This still isn’t over, but it’s most refreshing to have something positive to say.
33 Responses to “Budget: Only One Side Is Trying”
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It’s to bad these wacko’s are pushing to end Social Security, Medicare, and other programs. Before the wacko talk, Democrats were interested in reforming these programs to make them more efficient, not kill them off. I find logic in making all and any federal programs more efficient.
Good point, Tom. And they still need to be reformed. Eliminating the donut hole and allowing legitimate Canadian pharmacies to participate in Medicare part D are examples.
Boner is not going to get away with holding Americans hostage this time. If he bankrupts the economy by not raising the debt ceiling, the rich people’s money will be as worthless as ours. 😛
Bingo.
Yeah but Cantor’s 15 grand investment, betting to profit on a crash…. and Gingritch investing in tiffany’s diamonds, sure looks like they are preparing for something….
On the other hand, the old guard remembers how they got reamed when Newt did it.
It would be political suicide for the RepublicanTs and Tea-baggers if they reduce the deficit by hitting the poor and middle class. The rich may have more money but We the People have more votes.
Stalin say’s, The number of votes don’t matter…It’s who counts them that counts..I’m not hopefull…….
Welcome Rich
You are both right, but I promise I will bring up voting machines again, as I have before.
Paper Ballots, like Canada…Democracy deserves nothing less…And no one party should be in charge of the voting process, or any recount…..
Amen to both. Voting machines are OK, with a paper receipt and a paper trail.
…..cutting military spending and raising taxes on families making more than a million a year, in order to make 2 trillion in revenue sounds like a good plan, to me. 💡
You will like the article I’m about to post.
I saw that! The Kennedy Plan! I like it! Thank you! 😈
YVW 🙂
Such bad acting…Obama hits the hornets nest of S.S. and then Boner, doing his part, pulls him away with the canard of taxes….Wake up it’s not about taxes as much as It’s about slashing entitlements to the bone, to pay for Bush tax cuts for Billionairs !!!!!!! Thats all it’s ever been about…O’Bastard is keeping his campaign promise to the elites who foisted him upon us!!!!!!!!!
Rich, while I’m not happy with Obama’s record, your opinion of him is clearly worse than mine.
Thank you for the forum…..We really don’t pick our candidates anymore, they have to be “pre approved” by the corporate media first…We should wise up and pick our own…The candidate they refuse to give air time to, or even better, deride…..That’s our Candidate!!!!
What you say is true, but unless the Republicans are taken down first, we won’t have even the tiniest choice.
I don’t have too much of a problem there, my reps are Shumer and Gillibrand, good dem’s and I’ll vote for them…But if O Bama uses SS and Medicare to pay for the Bush tax cuts, I’m not voting for him…I’ll probably write in “Any generic Democrat other then O’Bama”…
I would have put this on “BUZZ Flash” but I am one of the growing crop “anonymous buzzers” they have blacklisted..They don’t accept viable passwords, it seems now, to comment…they are complicit, maybe!!!!!In any case they are steiffling free speech!!!!
Rich, I do put my articles on Buzz Flash. Here’s the link to this one. It was promoted.
http://www.buzzflash.net/story.php?id=1626360
They have had trouble there with people trying to buzz up stories with multiple IDs
I’m not talking about blogging an article…I’m talking about free speech to comment on an article…Look at all the “anonomous” Buzzes…They are blacklisting, I think…they don’t respond when I ask why…They refuse to accept my passwords to login to comment…As a lover of the first amendment, I don’t like it…..I’d like to find out if i’m the only one they do this to…
Perhaps Boner , the tea baggers and the rest of the self- serving , corporate worshiping , wackos , will see what is in their best interest if they want to survive ; What I read thus far is encouraging concerning what is being put on the table now ;
Cutting Military spending– scaling back on unneeded weapons of “war”– raising taxes on top earners sounds like a darn good plan–I just hope the Dems and President Obama hold their position.
Its a positive ” unless Democrats cave-in first, Republicans will, because the first and worst hurt in a crisis over failure to extend the debt ceiling are the banksters. Republicans will not throw banksters under the bus.” …TomCat(quote)
There goes my hat size again! 😉
Obama just has to not cave to them & don’t cut the major 3 programs for the people. Republicans will not only ” not throw banksters under the bus”. They get a lot of money from Wall St. which will be a wreck if they don’t raise the defeceit. Wall St. will pressure them to cut a deal. They will have to listen or loose support there which would cost them too much.
That’s the way I see it, Viper.
I agree with you entirely Tom – I just hope O stands! I think Cantor may have more control of the party than Boehner – and if Cantor stands to benefit from a “windfall” if our economy collapses, how many others will too?
True, Lee, but even for Cantor, the political cost would likely outweigh the personal profit.
George W. Bush’s Recession will become Boehner’s Depression if the debt limit isn’t raised.
Welcome Steve. 🙂
You sure have that right!
I agree that the People’s Tax Plan is the way to go. The Tea Party’s insistence on no new taxes is insane and cannot be condoned!
Amen, Pope Jack. 🙂