President Obama announced Sunday night that leaders of both parties in both chambers have reached an agreement on a debt-reduction deal that will "lift the cloud of uncertainty that hangs over our economy."Um... "Immediate" and "over a 10-year period" are somewhat mutually exclusive, are they not?
According to the president, the deal means an immediate cut of $1 trillion over a 10-year period, followed by the creation of a committee to come up with additional cuts worth $1.5 trillion to be voted on by the end of the year.
Given what we've seen from GOP "leadership", I'm not holding my breath on this one. They've already caved on the terms of the debt reduction - the GOP had wanted three trillion, for example; it's hard to see them getting much of anything else. And the fact that they let Øbama get away with funding through the 2012 election tells me that we're in for four more years.
Happy Monday.
That is all.
8 comments:
Screwed again. As usual.
This no way to start a week. I’m glad I had absolutely no faith in the republicans to keep their word, keeps me from being disappointed.
I dunno. It's a nice little start in the right direction, and while it may not be a torpedo in Obama's engine spaces, it's still not GOOD for him and his base. Their friction is our gain, and unless we nominate another McCain we should be able to blow Dear Leader out of the airlock in 2012 just fine.
His histrionics and whining during this whole mess show that he is incapable of that true "pivot" to the center that would allow him to reclaim the bloc of Independents that he'll need to win.
IMO of course.
There are NO real cuts...
HotAir.com launches it like this:
"Open thread: House vote to finally put America out of its misery[...]"
Too true. Dems got everything they wanted. Tea Party got nothing but false praise and scorn.
Best we can hope for is more conservatives in 2012, blow Boehner out and replace him with Cantor, replace 0bama with a fearless fiscal conservative who would make Reagan blanche, and hope they can pull up on the stick hard enough to keep up from pancaking on the mountainside.
Anyone want to place bets on that?
"Dear Congress: Congratulations! You Have Pre-Approved Yourself for another 2.5 Trillion Dollar LIne of Credit! And You don't even have to Pay for it for Another 10 years! Now don't spend it all at once...Ooops! It looks like You Already Did!"
I'm beyond the Tar and Feathers Stage, I'm beyond the Hangin' Stage. I suggest we go back to the Old School of Government, the Roman School of Government. If they want to act like Roman Senators, then they need a Roman Punishment.
It's time for some Crucifixion.
We keep putting off the bill but sooner or later it’s going to come due. And who’s going to loan us money now? I suspect most of it the fed will print out of thin air, and only very bad things can come from that.
We're never going to get anything done as long as we have this baseline budgeting nonsense. That needs to get repealed.
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