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rowech 07-19-2011 07:37 AM

Quote:

Originally Posted by Mizzou B-ball fan (Post 2499349)
We must be referring to different 2010 elections. The 2010 wave was largely that the economy sucked and the Dems had no real answers in power during the previous two years.


The 2010 election was about a rejection/reaction to the health care plan and the fact that the young voting group that voted Obama in, didn't bother to vote in the midterm elections. (probably because they didn't realize the importance)

Mizzou B-ball fan 07-19-2011 07:55 AM

Quote:

Originally Posted by rowech (Post 2499353)
............and the fact that the young voting group that voted Obama in, didn't bother to vote in the midterm elections. (probably because they didn't realize the importance)


And this is different than any other midterm election because???????

That's a given in a midterm election. Anyone who didn't see that coming simply doesn't know how midterm elections work.

JPhillips 07-19-2011 09:21 AM

Quote:

Originally Posted by Mizzou B-ball fan (Post 2499349)
We must be referring to different 2010 elections. The 2010 wave was largely that the economy sucked and the Dems had no real answers in power during the previous two years.


Look at the ads run in competitive districts. The 500 billion in Medicare cuts from Obama care was front and center in nearly all of them. That's why seniors turned out in big numbers and voted for the GOP. Core GOP voters might have been voting about other issues, but the swing voters that broke for the GOP were largely concerned with keeping their Medicare benefits.

There were all sorts of ads like this:

http://www.flickr.com/photos/davecjohnson/5330494309/

Mizzou B-ball fan 07-19-2011 09:30 AM

Quote:

Originally Posted by JPhillips (Post 2499441)
Look at the ads run in competitive districts. The 500 billion in Medicare cuts from Obama care was front and center in nearly all of them. That's why seniors turned out in big numbers and voted for the GOP. Core GOP voters might have been voting about other issues, but the swing voters that broke for the GOP were largely concerned with keeping their Medicare benefits.

There were all sorts of ads like this:

http://www.flickr.com/photos/davecjohnson/5330494309/


Seniors turn out in those numbers all the time. As rowech said, the tipping point was the midterm disappearance of the under-25 crowd, which is very common in midterm elections.

JPhillips 07-19-2011 09:42 AM

No, seniors don't. They accounted for 24% of the electorate, the highest percentage since 1992. And the Dems had the lowest percentage of the 60+ vote in at least 30 years.

edit: Should say 34% not 24%.

tarcone 07-19-2011 10:47 AM

Missouri, as do many states, have a constitutional amendment that states that the state will have a balanced budget at the end of every year. Why dont we do that for the United States?

DaddyTorgo 07-19-2011 11:00 AM

Quote:

Originally Posted by tarcone (Post 2499474)
Missouri, as do many states, have a constitutional amendment that states that the state will have a balanced budget at the end of every year. Why dont we do that for the United States?


I used to be a proponent of this idea actually, but then I read a bunch of articles about why it's not feasible on the national level. Let me see if I can pull up any of them with a google search.

Well here's something off mediamatters where both liberal and conservative economists across the board say it's a bad idea:

Fox News Lobbies For Balanced Budget Amendment That Economic Experts Say Would Hurt The Economy | Media Matters for America

Quote:


Former George H.W. Bush Treasury Official: Amendment "Would Force The Federal Government To Make Economic Recessions Worse." Bruce Bartlett wrote in a Fiscal Times column that a balanced budget amendment "would force the federal government to make economic recessions worse. Since federal revenues fall and spending rises automatically in economic downturns, it would force spending cuts and tax increases at precisely the point when the economy is reeling, potentially turning a modest downturn into a depression." [The Fiscal Times, 8/27/10]


Quote:

Striving to achieve a balanced budget by way of a constitutional amendment would be "irresponsible," according to one seasoned congressional observer.
"It is about the most irresponsible action imaginable," said Norman Ornstein, a resident scholar at the conservative American Enterprise Institute. "It would virtually ensure that an economic downturn would end up as a deep depression, by erasing any real ability of the government to pursue countercyclical fiscal policies and in fact demanding the opposite, at the worst possible time." [CNNMoney, 3/29/11]


Quote:


Bartlett: If Already In Force, Balanced Budget Amendment Would Have Cut More Than $300 Billion From Social Security And Medicare in 2009. Bruce Bartlett, former George H.W. Bush Treasury official and Reagan domestic policy advisor, wrote in a Fiscal Times column that: "It's doubtful that BBA supporters really understand the composition of federal spending. In fiscal year 2009, we would have had to abolish every discretionary spending program, including national defense, to balance the budget and that still wouldn't have been enough without higher revenues. We would have had to cut more than $300 billion out of Medicare and Social Security as well." [The Fiscal Times, 8/27/10]


Quote:

CBPP: A Balanced Budget Amendment "Would Inexorably Subject Social Security And Medicare To Deep Reductions." From the Center on Budget and Policy Priorities:
The measure does not cut Social Security or Medicare in 2012. And it does not subject them to automatic cuts if its global spending caps are missed. It is inconceivable, however, that policymakers would meet the bill's severe annual spending caps through automatic across-the-board cuts year after year; if they did, key government functions would be crippled.

Policymakers would have little alternative but to institute deep cuts in specific programs. And as noted elsewhere in this statement, before the debt limit could be raised, Congress would have to approve a constitutional balanced budget amendment that essentially requires cuts even deeper than those in the Ryan budget. Reaching and maintaining a balanced budget in the decade ahead while barring any tax increases would necessitate deep cuts in Social Security, Medicare, and Medicaid. After all, by 2021, total expenditures for these three programs will be nearly 45 percent greater than expenditures for all other programs (except interest payments) combined. Big cuts in these programs would be inevitable. [Center on Budget and Policy Priorities, 7/16/11]




Basically it would make the hard times much worse and tip recessions into depressions easily, and is also a convenient "smokescreen" for the end goal of trying to end Medicare/Medicaid/Social Security entirely.

tarcone 07-19-2011 11:15 AM

I thought Social Security was supposed to be a self-sustaining entity that was not part of the budget, thus not available to be cut. Oh wait, nevermind.

gstelmack 07-19-2011 11:17 AM

Quote:

Originally Posted by DaddyTorgo (Post 2499478)
Basically it would make the hard times much worse and tip recessions into depressions easily, and is also a convenient "smokescreen" for the end goal of trying to end Medicare/Medicaid/Social Security entirely.


No it wouldn't, if done right. For example, North Carolina maintained a rainy day fund with its budget surpluses once upon a time to cover major disasters or economic downturns. If you use your surpluses to cover your down economic times, you'll be fine. You know, like most people, corporations, and others with actual economic sense.

The problem is that "education" became a buzzword, the politicians started spending a lot more to cover it, we got hit by a hurricane or two, and not only was it gone but we were hopelessly in debt.

So the problem here is not the concept, it's the implementors. Again.

JPhillips 07-19-2011 11:19 AM

The bigger problem is enforcement. Who stops Congress if the budget isn't balanced? How would any enforcement work when we wouldn't know if it was balanced until the money was already spent? Would a judge have the power to order cuts to the budget?

It's an unworkable mess of an amendment that is nothing more than a bone to the Tea Party.

SteveMax58 07-19-2011 12:16 PM

Quote:

Originally Posted by gstelmack (Post 2499495)
No it wouldn't, if done right. For example, North Carolina maintained a rainy day fund with its budget surpluses once upon a time to cover major disasters or economic downturns. If you use your surpluses to cover your down economic times, you'll be fine. You know, like most people, corporations, and others with actual economic sense.

The problem is that "education" became a buzzword, the politicians started spending a lot more to cover it, we got hit by a hurricane or two, and not only was it gone but we were hopelessly in debt.

So the problem here is not the concept, it's the implementors. Again.


+1

It really isn't oversimplification to say that the government should (basically) do the same as most of us do. Save money in reserve (or savings if you will) for the rainy days. Then, if a truly temporary tax (i.e. not the type we have historically done) is needed to cover a shortfall...then so be it until such time we catch back up.

But we don't put money into "savings" as a country...instead we simply spend every last dollar we earn, borrow more as we gamble & hedge bets on the future, and then pay interest on the borrowed money for the debt we couldn't pay in the first place.

And I agree with JPhillips on the complications of enforcement...which is why I say you don't need to enforce that which can't be violated(or much). So you defer more things to the states so that deficits ONLY run to support things that are considered highest need such as defense.

DaddyTorgo 07-19-2011 12:50 PM

Quote:

Originally Posted by SteveMax58 (Post 2499522)
+1

It really isn't oversimplification to say that the government should (basically) do the same as most of us do. Save money in reserve (or savings if you will) for the rainy days. Then, if a truly temporary tax (i.e. not the type we have historically done) is needed to cover a shortfall...then so be it until such time we catch back up.

But we don't put money into "savings" as a country...instead we simply spend every last dollar we earn, borrow more as we gamble & hedge bets on the future, and then pay interest on the borrowed money for the debt we couldn't pay in the first place.

And I agree with JPhillips on the complications of enforcement...which is why I say you don't need to enforce that which can't be violated(or much). So you defer more things to the states so that deficits ONLY run to support things that are considered highest need such as defense.


For your idea to be workable (saving more than we spend as a country) the effective tax rate on everybody would have to go up (I don't have numbers, but I can't imagine this not being the case).

DaddyTorgo 07-19-2011 12:51 PM

And you still haven't addressed the "economics" argument against it, which is agreed upon by economists on both sides.

Forget that it's the "common sense" thing to do. Just because it's the right thing for a family to do doesn't mean that it scales up to be the right thing for a federal government to do.

tarcone 07-19-2011 02:12 PM

But hasnt the Federal Government way overstepped its original boundaries? Isnt this the root cause of the economic problems? Big government?

JPhillips 07-19-2011 02:14 PM

Quote:

Originally Posted by tarcone (Post 2499582)
But hasnt the Federal Government way overstepped its original boundaries? Isnt this the root cause of the economic problems? Big government?


You'd have an extremely difficult time proving that theory. I can't see any evidence that shows varying levels of democratic governments have a decisive impact on the economy.

DaddyTorgo 07-19-2011 02:21 PM

Quote:

Originally Posted by tarcone (Post 2499582)
But hasnt the Federal Government way overstepped its original boundaries? Isnt this the root cause of the economic problems? Big government?


:lol:

Big government??

Hardly.

Not saying the government isn't big or anything, but that's not even close to the root cause of the current economic problems. In fact, in the case of these economic problems it's that the government wasn't doing its job (in terms of regulation and oversight largely).

SteveMax58 07-19-2011 02:49 PM

Quote:

Originally Posted by DaddyTorgo (Post 2499546)
And you still haven't addressed the "economics" argument against it, which is agreed upon by economists on both sides.

Forget that it's the "common sense" thing to do. Just because it's the right thing for a family to do doesn't mean that it scales up to be the right thing for a federal government to do.

Right...it's too complicated to solve over time so let's explain why its terrible to do right at this moment.:banghead:

DaddyTorgo 07-19-2011 02:52 PM

Quote:

Originally Posted by SteveMax58 (Post 2499605)
Right...it's too complicated to solve over time so let's explain why its terrible to do right at this moment.:banghead:


Not sure I understand your point.

It's not a viable long-term solution for the economics reasons discussed in all of those reports (again - from economists on both sides of the aisle). Passing it into law (let alone as an amendment to the Constitution) means that it will never be taken off the books, so it will just be waiting there as a landmine for people to play political games with in the future, when the stakes are equally as high.

I'd rather give neither side a "hostage" that they can take in the future. Maybe if they don't have so many "hostages" they will actually behave like fucking grownups and solve problems (which is ya know...a part of the reason they're supposedly elected).

gstelmack 07-19-2011 03:05 PM

Quote:

Originally Posted by DaddyTorgo (Post 2499607)
It's not a viable long-term solution for the economics reasons discussed in all of those reports (again - from economists on both sides of the aisle). Passing it into law (let alone as an amendment to the Constitution) means that it will never be taken off the books, so it will just be waiting there as a landmine for people to play political games with in the future, when the stakes are equally as high.


???

I thought we pointed out the fallacy in those economics arguments, although maybe it's a key point of the law that needs to change. You spend less / take in more during the good times, save the overage, and use it when you are spending more / taking in less during the bad times. The economist argument above was "you need to deficit spend during the bad times" which I agree with, but as long as you are willing to save the overages during the good times you break even. The key is not to pile up a huge national debt like we have now by deficit spending during good times, let alone bad times.

DaddyTorgo 07-19-2011 03:16 PM

Quote:

Originally Posted by gstelmack (Post 2499611)
???

I thought we pointed out the fallacy in those economics arguments, although maybe it's a key point of the law that needs to change. You spend less / take in more during the good times, save the overage, and use it when you are spending more / taking in less during the bad times. The economist argument above was "you need to deficit spend during the bad times" which I agree with, but as long as you are willing to save the overages during the good times you break even. The key is not to pile up a huge national debt like we have now by deficit spending during good times, let alone bad times.


So are you willing to see higher EFFECTIVE tax rates on everybody even during the good time in order to stockpile that money? Where are the votes for that going to come from - let alone the continued votes to not roll it back the second the party in control of the legislative branch changes? Taxes are already largely a campaign-gimmick, so how is that going to get anything but worse under this proposed system?

Furthermore, our political setup doesn't encourage that type of long-term thinking by elected officials (one place where monarchies have an advantage). Reluctant votes for higher taxes, protection of "pork", unwillingness to take "hard votes."
Nobody's going to vote to spend less when that will result in them getting tossed out of office and them losing their cushy job and cushy salary.

Plus you have situations where (and yes, you knew we'd get there) you get someone like Clinton who balanced the budget (on the back of a booming economy) and left us with a SURPLUS and then that surplus got eaten up by 8 years of Bush thanks to both the tax-cuts and the foreign wars entered into during those times.

It's also not workable. You can't dial-up and dial-down government spending like that for things like infrastructure say (which doesn't respond to economic timelines for needing repair/rebuilding), or other programs. You can't have say educational funding bouncing around like that. Just stop and think about it for a moment. You'd have massive waves of layoffs/hirings based on what government educational spending flowing to the states was (to use just that one example).

There's no long-term accountability for it. We're not flexible enough and willing to accept the changes that it would entail.

It's not workable. It's "feel good" and it makes sense for families, and yeah...even for states to a degree, but it's not feasible.

SteveMax58 07-19-2011 03:34 PM

Quote:

Originally Posted by DaddyTorgo (Post 2499617)
It's not workable. It's "feel good" and it makes sense for families, and yeah...even for states to a degree, but it's not feasible.

So you not only believe there is no way to run a surplus because it wont have the votes, but you also feel there is no way out of the current debt because nobody wants more taxes...which to you, is the only way to solve anything.

Might as well just pack it in...we're screwed. :D

DaddyTorgo 07-19-2011 03:38 PM

Quote:

Originally Posted by SteveMax58 (Post 2499627)
So you not only believe there is no way to run a surplus because it wont have the votes, but you also feel there is no way out of the current debt because nobody wants more taxes...which to you, is the only way to solve anything.

Might as well just pack it in...we're screwed. :D


That's a mischaracterization - any solution to the current debt requires more taxes, but it's not the only way. There also have to be spending cuts - I acknowledge that.

Any solution that doesn't involve more taxes is a joke, and isn't a serious, adult solution.

bhlloy 07-19-2011 03:38 PM

Quote:

Originally Posted by SteveMax58 (Post 2499627)

Might as well just pack it in...we're screwed. :D


I don't see how it's hard to come to that conclusion given the current political situation and the willingness of politicians to actually make the tough decisions needed to solve it on both sides of the aisle. Maybe I'm just being pessimistic but really, what situation do you envisage in the next couple of election cycles that could possibly get us out of this that actually has a snowballs chance in hell of being agreed on?

gstelmack 07-19-2011 03:40 PM

Quote:

Originally Posted by bhlloy (Post 2499630)
I don't see how it's hard to come to that conclusion given the current political situation and the willingness of politicians to actually make the tough decisions needed to solve it on both sides of the aisle. Maybe I'm just being pessimistic but really, what situation do you envisage in the next couple of election cycles that could possibly get us out of this that actually has a snowballs chance in hell of being agreed on?


That gets back to the whole argument about how insane those of us who were willing to let the debt ceiling crash go through, since it seemed to be the only way to force some real change. All the "reasonable" approaches are doomed to failure in our current political setup.

Mizzou B-ball fan 07-19-2011 03:43 PM

Quote:

Originally Posted by DaddyTorgo (Post 2499544)
For your idea to be workable (saving more than we spend as a country) the effective tax rate on everybody would have to go up (I don't have numbers, but I can't imagine this not being the case).


Alright, this is getting a bit silly. Are we arguing the situation at hand or are we arguing political points? I, along with several others who tend to fall on the conservative side of things, have repeatedly said that we're not inherently opposed to tax increases. What we are opposed to is increasing taxes without first cutting much of the spending 'fat' that exists in the government entities. Let's stop pretending that all Republicans or conservative-minded individuals are against increased taxes in any form. That's simply not the case.

bhlloy 07-19-2011 03:44 PM

I guess it comes down to do we want the cataclysm now or do we want to see increasingly bad recessions over the next 20-30 years with the time in between greatly reduced until eventually everything is irreversably ruined? Neither seems very appealing.

And even if we do take the cataclysm now, do we trust the system we have in place to actually fix things for the better afterwards? Not a chance. I think we've backed ourselves into a corner where there isn't a right answer. God I'm cheerful this afternoon.

DaddyTorgo 07-19-2011 03:46 PM

Quote:

Originally Posted by gstelmack (Post 2499631)
That gets back to the whole argument about how insane those of us who were willing to let the debt ceiling crash go through, since it seemed to be the only way to force some real change. All the "reasonable" approaches are doomed to failure in our current political setup.


"All the reasonable approaches are doomed to failure...might as well just push the 'Armageddon' button over there and launch Global Thermonuclear War."

That makes no sense. I honestly don't think you understand the potential ramifications to YOU if we were to default.
Quote:

Originally Posted by WaPo article
It all comes back to U.S. Treasury bonds, which are the foundation of almost all other financial products — the base of the global financial pyramid.

If the federal government’s borrowing costs rise, so will everyone else’s. Mortgages rates will jump, car loans will be harder to come by, universities won’t be able to float bonds, cities won’t be able to fund themselves.

Treasuries are supposed to set the rate of “riskless return” — the price of loaning someone money and knowing, with perfect certainty, that they’ll pay you back, with interest. So when lenders decide how much to charge, they start with the riskless rate and then add to it to cover the risk that you won’t pay them back, and the inconvenience of having to wait for you to pay them back.

It’s a practice called benchmarking, and it’s everywhere: in your mortgage, your credit card, your car payments, the loan you took out to hire three new employees at your business. It’s even common internationally. The fact that Brazilian loans tie themselves to the American government’s debt just shows the high esteem in which the world holds us.

But if the rate on 10-year Treasuries rises, it means rates rise for everything else, too.


Don't overlook the little "cities and states won't be able to borrow money to fund themselves" line in there either. Because that's all those other services - education, police & fire, snow removal, pothole repair, electricity for the traffic lights and streetlights, trash pickup, etc. that we see as the normal "background" type parts of our lives.

So add on top of that that you'll be paying more out of pocket for loans on anything - at a time when the economy is ALREADY sputtering and not really restarted...not a good idea.

SteveMax58 07-19-2011 04:05 PM

Quote:

Originally Posted by DaddyTorgo (Post 2499607)
Not sure I understand your point.

It's not a viable long-term solution for the economics reasons discussed in all of those reports (again - from economists on both sides of the aisle). Passing it into law (let alone as an amendment to the Constitution) means that it will never be taken off the books, so it will just be waiting there as a landmine for people to play political games with in the future, when the stakes are equally as high.


Not viable long term because the economists assume the government continues to operate as it does today. Reckless, careless, and without the discipline to do what is right in the face of politics & bribery.

DaddyTorgo 07-19-2011 04:06 PM

Quote:

Originally Posted by Mizzou B-ball fan (Post 2499633)
Alright, this is getting a bit silly. Are we arguing the situation at hand or are we arguing political points? I, along with several others who tend to fall on the conservative side of things, have repeatedly said that we're not inherently opposed to tax increases. What we are opposed to is increasing taxes without first cutting much of the spending 'fat' that exists in the government entities. Let's stop pretending that all Republicans or conservative-minded individuals are against increased taxes in any form. That's simply not the case.


That's not the case, true. But it seems to be the case as far as elected officials go, which is where the problem lies.

DaddyTorgo 07-19-2011 04:07 PM

Quote:

Originally Posted by SteveMax58 (Post 2499643)
Not viable long term because the economists assume the government continues to operate as it does today. Reckless, careless, and without the discipline to do what is right in the face of politics & bribery.


You assume differently? I have some oceanfront property in Arizona I'd like to talk to you about...

JonInMiddleGA 07-19-2011 04:10 PM

Saxby better plan on staying in D.C., he's not going to be very welcome back in Georgia any time soon ... at least not anywhere he's been welcome before.

Sorry ass sellout son of a diseased whore.

albionmoonlight 07-19-2011 04:14 PM

The problem isn't with educated rank and file conservative citizens. The conservatives to whom I speak all seem to agree that tax increases coupled with spending cuts is both acceptable and a good thing. You guys want more cuts, I want more revenue, but we are in the same ballpark.

The problem is that pretty much every GOP member of Congress has taken that stupid pinkie-swear with Norquist that somehow trumps any other oath they have ever taken in their life and makes it impossible to pass any sort of a comprehensive package that involves increasing revenue in addition to cutting spending.

SteveMax58 07-19-2011 04:19 PM

Quote:

Originally Posted by DaddyTorgo (Post 2499645)
You assume differently? I have some oceanfront property in Arizona I'd like to talk to you about...

It has to or we all become, by our own choosing, what our forefathers fought to free us from. How sadly ironic would that be.

For this immediate short-term crisis? Of course you raise taxes, but you cut spending as well. But that doesn't fix a dam thing...that just pushes things out because whatever deal our brilliant leaders come up with, will have the net effect of screwing over our kids. They just...can't..help themselves.

You have to correct these fundamental government problems in more digestible chunks. And imo, it starts with diverting federal authority to states. This creates a more fault tolerant environment to bribery, recklessness, & sheer stupidity.

DaddyTorgo 07-19-2011 04:21 PM

I get that they're all afraid of Norquist's money, or the attack ads he'd bring, but why don't any of them have the guts to stand up in front of their districts and say "Listen...I took that pledge because I thought it was right. Clearly times have changed and we need tax increases of some sort. You all agree on that - my polls show you that. So I'm going to vote for them. And you're going to see a ton of nasty attack ads against me in the future because I did, but just remember that I voted for them because we all know that we need them."

I mean...don't get me wrong...I know why they DON'T - I'm not some starry-eyed idealist...I just wish one of them would show a little spine and ya know...actually do it.

JonInMiddleGA 07-19-2011 04:25 PM

Quote:

Originally Posted by DaddyTorgo (Post 2499655)
It seems so simple and easy to do. What's the holdup?


More like a "hang up" ... Sellout Sax is going to be lucky if he isn't lynched if he comes back here & gets anywhere near an actual conservative.

miked 07-19-2011 05:00 PM

Quote:

Originally Posted by JonInMiddleGA (Post 2499646)
Saxby better plan on staying in D.C., he's not going to be very welcome back in Georgia any time soon ... at least not anywhere he's been welcome before.

Sorry ass sellout son of a diseased whore.


You obviously have been too far removed from the rednecks. All he's gotta do is shout down gays, talk about God, and promise to do his best to repeal Roe v Wade. He hasn't passed (or even had anything out of committee) legislation in his entire career and he still won 54% of the vote...or whatever. Like you are going to vote for a democrat when Saxby runs for re-election.

I get it, you will follow the nearest well funded teabagger who shouts about repealing health care and lowering taxes, but really Saxby gots the money.

RainMaker 07-19-2011 05:33 PM

Quote:

Originally Posted by tarcone (Post 2499493)
I thought Social Security was supposed to be a self-sustaining entity that was not part of the budget, thus not available to be cut. Oh wait, nevermind.

It was, but people have been living too long.

SirFozzie 07-19-2011 05:41 PM

Well, here's the "gang of six" cuts. I don't like that it's all "We'll cut this, but we don't know how".. but I think the AMT repeal and single corporate tax rate are good ideas.

According to a copy of a summary of the Gang of Six plan, the group would impose a two-step legislative process that would first make $500 billion worth of cuts immediately, then create a “fast-track process” that would propose a comprehensive bill aimed at dramatically restructuring tax and spending programs. The plan calls for changes to Social Security to move on a separate track, and establishes an elaborate procedure for considering the deficit reduction measures on the floor.

The $500 billion in cuts would come from a range of sources, including shifting to a new consumer price index to make cost-of-living adjustments to Social Security. The plan would impose statutory spending caps through 2015, freeze congressional pay and sell unused federal property.

To enact a comprehensive deficit plan, the group calls for existing congressional committees to report legislation within six months that would “deliver real deficit savings in entitlement programs over 10 years,” the plan says.

The Senate Finance Committee would be instructed to deliver “real deficit savings” through simplifying the tax code and raising as much as $1 trillion in revenue. It would do this by establishing three tax brackets with rates of 8-12 percent, 14-22 percent and 23-29 percent. It would permanently repeal the $1.7 trillion Alternative Minimum Tax, which was initially enacted to prevent the wealthy from using tax loopholes to avoid paying income tax but has since affected millions of middle-income families. And it calls for establishing a single corporate tax rate, between 23 percent and 29 percent.

The group punts many of the specifics to other committees, which would be asked to find savings in discretionary and mandatory spending. This includes: $80 billion out of Armed Services; $70 billion out of Health, Education, Labor and Pensions; $65 billion out of Homeland Security and Government Affairs; $11 billion out of Agriculture; $11 billion out of Commerce; and $6 billion out of Energy and Natural Resources.

The Judiciary Committee would be asked to find savings through medical malpractice reform.

RainMaker 07-19-2011 05:47 PM

No one gave a shit about Saxby Chambliss and him signing on to big spending over the years, but he works with a Democrat on actually cutting spending and he should be lynched apparently. Another case of not caring about the issue, just the game.

JPhillips 07-19-2011 06:22 PM

Quote:

Originally Posted by SteveMax58 (Post 2499654)
It has to or we all become, by our own choosing, what our forefathers fought to free us from. How sadly ironic would that be.

For this immediate short-term crisis? Of course you raise taxes, but you cut spending as well. But that doesn't fix a dam thing...that just pushes things out because whatever deal our brilliant leaders come up with, will have the net effect of screwing over our kids. They just...can't..help themselves.

You have to correct these fundamental government problems in more digestible chunks. And imo, it starts with diverting federal authority to states. This creates a more fault tolerant environment to bribery, recklessness, & sheer stupidity.


I saw a chart recently that showed the dramatic growth in government employees over the past fifty years has come almost exclusively at the state and local levels. I'm not sure shifting the responsibility would get you any less government.

JPhillips 07-19-2011 06:25 PM

Quote:

Originally Posted by SirFozzie (Post 2499707)
Well, here's the "gang of six" cuts. I don't like that it's all "We'll cut this, but we don't know how".. but I think the AMT repeal and single corporate tax rate are good ideas.

According to a copy of a summary of the Gang of Six plan, the group would impose a two-step legislative process that would first make $500 billion worth of cuts immediately, then create a “fast-track process” that would propose a comprehensive bill aimed at dramatically restructuring tax and spending programs. The plan calls for changes to Social Security to move on a separate track, and establishes an elaborate procedure for considering the deficit reduction measures on the floor.

The $500 billion in cuts would come from a range of sources, including shifting to a new consumer price index to make cost-of-living adjustments to Social Security. The plan would impose statutory spending caps through 2015, freeze congressional pay and sell unused federal property.

To enact a comprehensive deficit plan, the group calls for existing congressional committees to report legislation within six months that would “deliver real deficit savings in entitlement programs over 10 years,” the plan says.

The Senate Finance Committee would be instructed to deliver “real deficit savings” through simplifying the tax code and raising as much as $1 trillion in revenue. It would do this by establishing three tax brackets with rates of 8-12 percent, 14-22 percent and 23-29 percent. It would permanently repeal the $1.7 trillion Alternative Minimum Tax, which was initially enacted to prevent the wealthy from using tax loopholes to avoid paying income tax but has since affected millions of middle-income families. And it calls for establishing a single corporate tax rate, between 23 percent and 29 percent.

The group punts many of the specifics to other committees, which would be asked to find savings in discretionary and mandatory spending. This includes: $80 billion out of Armed Services; $70 billion out of Health, Education, Labor and Pensions; $65 billion out of Homeland Security and Government Affairs; $11 billion out of Agriculture; $11 billion out of Commerce; and $6 billion out of Energy and Natural Resources.

The Judiciary Committee would be asked to find savings through medical malpractice reform.


None of the tax part will become law with the current GOP. The spending part at least recognizes that any deal is going to have to go through the committee system. The House has to originate spending bills and the yearly budget has to go through committees. Any deficit deal has to be realistic enough to know the committee system will make alterations.

Mizzou B-ball fan 07-19-2011 06:41 PM

Quote:

Originally Posted by JPhillips (Post 2499739)
I saw a chart recently that showed the dramatic growth in government employees over the past fifty years has come almost exclusively at the state and local levels. I'm not sure shifting the responsibility would get you any less government.


Disagree totally. The state and local levels are MUCH more reachable by citizens looking to make real change. You can nail down state and local officials and put their feet to the fire much easier. The national leaders are almost untouchable in that regard.

Perfect example is some of the recent changes Missouri voters put into place. For years, our roads were rated amongst the worst in the U.S. The problem was that state officials were diverting funds for transportation improvements to everything except transportation improvements. Voters put an initiative on the ballot to ensure that all transportation funds were used only for that purpose. We now have some of the best roads in the nation. It's way easier to pull those kinds of initiatives at a state level. It's all but impossible at a national level.

SteveMax58 07-19-2011 06:41 PM

Quote:

Originally Posted by JPhillips (Post 2499739)
I saw a chart recently that showed the dramatic growth in government employees over the past fifty years has come almost exclusively at the state and local levels. I'm not sure shifting the responsibility would get you any less government.

Well, you'd have to dig into any such chart deeper to see who exactly is funding these state & local government jobs.

As a whole, I imagine state & local would make up quite a chunk of the tax burden but that's how it should be. And if I (and enough members of my community) don't like it I have realistic options such as attending townhall events & voicing my opinion, voting them out, and I can also move if I am not in agreement with my other locality members.

What is the honest alternative, though? You think this system works great if not for having Republicans in it?

JPhillips 07-19-2011 06:46 PM

I don't think the system works great, I just don't think the magic bullet is moving things to more local control. As fucked up as the US may be, it functions better than the NY state government and that functions a whole lot better than the city of Newburgh government. In my life I haven't seen any reason to think my local government, regardless of the many places I have lived, will produce better outcomes or will be more responsive to my wishes.

SteveMax58 07-19-2011 07:03 PM

Quote:

Originally Posted by JPhillips (Post 2499748)
I don't think the system works great, I just don't think the magic bullet is moving things to more local control. As fucked up as the US may be, it functions better than the NY state government and that functions a whole lot better than the city of Newburgh government. In my life I haven't seen any reason to think my local government, regardless of the many places I have lived, will produce better outcomes or will be more responsive to my wishes.

Now you know why people move south. :D

I agree with you as a fellow NY stater (now)...though I would submit if NY wanted different leadership, NY would vote that way, and get it. But while a lot of people move out of NY state (i.e. vote with their feet)...a lot still move in in hopes of prosperity and most newcomers don't tend to get heavily into local politics right away when moving some place(exceptions aside).

But NY gets what it gets because the people vote for who they vote for. It really does not get any more democratic than that. Lots of cronyism, to be sure. But that's what local people accept.

DaddyTorgo 07-19-2011 07:04 PM

Quote:

Originally Posted by SteveMax58 (Post 2499753)
Now you know why people move south. :D

I agree with you as a fellow NY stater (now)...though I would submit if NY wanted different leadership, NY would vote that way, and get it. But while a lot of people move out of NY state (i.e. vote with their feet)...a lot still move in in hopes of prosperity and most newcomers don't tend to get heavily into local politics right away when moving some place(exceptions aside).

But NY gets what it gets because the people vote for who they vote for. It really does not get any more democratic than that. Lots of cronyism, to be sure. But that's what local people accept.


A lot of it is likely related to a bunch of demographic factors too though.

SirFozzie 07-19-2011 07:13 PM

Sounds like the Senate R's are along.. the House R's want everything they've demanded, and a pony too (and they know they're not going to get it).. but it sounds like it wouldn't take many R defectors to pass the Gang of Six bill

Debt deal momentum builds as House resists - David Rogers - POLITICO.com

DaddyTorgo 07-19-2011 07:20 PM

Ugh. That's not a good deal.

tarcone 07-19-2011 07:43 PM

I have a relative who works as an engineer for the Fed govt. Over the past 3 years he has received $21,000 in raises and bonuses. He is in his late 20s. Guy is making some scratch. More power to him. Bummer for us.

SteveMax58 07-19-2011 07:59 PM

Quote:

Originally Posted by DaddyTorgo (Post 2499754)
A lot of it is likely related to a bunch of demographic factors too though.

Sure. But I guess that might beg the question...if larger government doesn't work at the local level, then why on earth would it work at the national level?


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