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Budget

SteelChip

SteelChip

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Democrats Rally Around Boehner-Obama Budget Deal While Conservatives Resist

House Speaker John Boehner’s budget deal has earned him praise from the White House and congressional Democrats, but conservatives are unhappy with the package, saying the outgoing speaker “burned the barn down.”

The two-year budget agreement increases the spending caps put in place by the 2011 Budget Control Act by $80 billion, split equally between defense and non-defense spending. Under the deal, defense and non-defense spending will be increased by $50 billion in 2016 and by $30 billion in 2017.

Boehner’s budget plan also suspends the current $18.1-trillion debt limit until March 2017, which conservatives argue gives the nation unlimited borrowing authority for more than a year.

Boehner, who will step down from Congress on Friday, negotiated the terms of the budget deal with Pelosi, Senate Majority Leader Mitch McConnell, and Senate Minority Leader Harry Reid.

“As bad as the process that produced this budget deal was, the policy is arguably worse,” Sen. Mike Lee, R-Utah, said in a statement to The Daily Signal. “We’re constantly told that raising the debt limit doesn’t actually increase any spending, but according to the Congressional Budget Office that is exactly what this bill does. Worse, it raids $150 billion from the Social Security Trust Fund, again delays entitlement spending cuts, and sells off part of the Strategic Petroleum Reserve at a time of historically low oil prices.

Rep. Mark Meadows, R-N.C., specifically spoke out against the reallocation of money from the Social Security Trust Fund to the Disability Trust Fund and said moving this money reflects negatively on Republicans’ ability to reform entitlements down the road.

I think it’s a fait accompli. It will pass no matter what we do.”
http://r.search.yahoo.com/_ylt=A0LE...-resist//RK=0/RS=xzVIwuY078e_B3aY_MC.Cfaop3g-

And people wonder why the voters don't trust their politicians .

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I loved the fact that the candidates spent so much time on SS the other night. Will be curious to see if any of them are elected whether anything changes.
 
we need a president who will oppose an increase in the debt ceiling. a visionary who will fight for the little guy and get our country back on track. we need a strong leader!! someone like...

Obama said:
Mr. President, I rise today to talk about America's debt problem.

The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the U.S. Government can't pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies.

Over the past 5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion. That is "trillion" with a "T." That is money that we have borrowed from the Social Security trust fund, borrowed from China and Japan, borrowed from American taxpayers. And over the next 5 years, between now and 2011, the President's budget will increase the debt by almost another $3.5 trillion.

Numbers that large are sometimes hard to understand. Some people may wonder why they matter. Here is why: This year, the Federal Government will spend $220 billion on interest. That is more money to pay interest on our national debt than we'll spend on Medicaid and the State Children's Health Insurance Program. That is more money to pay interest on our debt this year than we will spend on education, homeland security, transportation, and veterans benefits combined. It is more money in one year than we are likely to spend to rebuild the devastated gulf coast in a way that honors the best of America.

And the cost of our debt is one of the fastest growing expenses in the Federal budget. This rising debt is a hidden domestic enemy, robbing our cities and States of critical investments in infrastructure like
bridges, ports, and levees; robbing our families and our children of critical investments in education and health care reform; robbing our seniors of the retirement and health security they have counted on. Every dollar we pay in interest is a dollar that is not going to investment in America's priorities. Instead, interest payments are a significant tax on all Americans — a debt tax that Washington doesn't want to talk about. If Washington were serious about honest tax relief in this country, we would see an effort to reduce our national debt by returning to responsible fiscal policies.

But we are not doing that. Despite repeated efforts by Senators Conrad and Feingold, the Senate continues to reject a return to the commonsense Pay-go rules that used to apply. Previously, Pay-go rules applied both to increases in mandatory spending and to tax cuts. The Senate had to abide by the commonsense budgeting principle of balancing expenses and revenues. Unfortunately, the principle was abandoned, and now the demands of budget discipline apply only to spending. As a result, tax breaks have not been paid for by reductions in Federal spending, and thus the only way to pay for them has been to increase our deficit to historically high levels and borrow more and more money. Now we have to pay for those tax breaks plus the cost of borrowing for them. Instead of reducing the deficit, as some people claimed, the fiscal policies of this administration and its allies in Congress will add more than $600 million in debt for each of the next 5 years. That is why I will once again cosponsor the Pay-go amendment and continue to hope that my colleagues will return to a smart rule that has worked in the past and can work again.

Our debt also matters internationally. My friend, the ranking member of the Senate Budget Committee, likes to remind us that it took 42 Presidents 224 years to run up only $1 trillion of foreign-held debt. This administration did more than that in just 5 years. Now, there is nothing wrong with borrowing from foreign countries. But we must remember that the more we depend on foreign nations to lend us money, the more our economic security is tied to the whims of foreign leaders whose interests might not be aligned with ours.

Increasing America's debt weakens us domestically and internationally. Leadership means that "the buck stops here.'' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.

I therefore intend to oppose the effort to increase America's debt limit.
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That meme is spot on Chip, the one thing the government needs more than anything is term limits. Career and politician should never be mentioned in the same breath.
 
GMC said:
That meme is spot on Chip, the one thing the government needs more than anything is term limits. Career and politician should never be mentioned in the same breath.
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No, the one thing government needs more than anything is for somebody to pull the chain and flush the entire thing.
 
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