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License to fold [UPDATE]

Like clockwork, the self-important “pragmatists” in the Senate are banding into their little gang so they ride to the “rescue” and save us from ever having to decide something on principle. Then they clap themselves on the back for it!

You can read it yourself, or you can trust that I’ve pulled the most important bit, here:

As it would take time to enact such changes, the plan calls for an immediate $500 billion in spending cuts, something both Conrad and Coburn called “a downpayment.”

Tax increases, a ridiculously modest cut to spending (below what the “one-time” stimulus payment now factored into every budget has already added), no real reform of any kind, and promises to cut more in exchange for permission to grant yourself $2.5 trillion in new spending. Yeah, that’ll fix shit!

As folks like Mike Lee are trying to affect real change, professional Senators keep selling us down the river and congratulating themselves for doing so. They’ll smile and tell us that because both sides are unhappy, they’ve reached a good “compromise.” The stark difference between the Tea Party lawmakers and establishment Republicans couldn’t be any more clear.

It’s revolting, and it’s high time we picked up pitchforks and tar buckets.

(h/t sdferr)

****
update: you know you’ve got a real winner for the American people when a Marxist is praising it. And why is he praising it? Because the spending will keep going, the borrowing will keep happening, and the promused cuts will never come. As you’d think these GOP lifers would have learned by now.

Spit.

****

More, from Doug Ross.

68 Replies to “License to fold [UPDATE]”

  1. happyfeet says:

    I don’t understand how this addresses America’s dangerous and growing corporate jet problem

  2. sdferr says:

    Dan Mitchell at Cato takes a look at what he knows of the Gang’s plan, concludes:

    Over the next few days, we’ll find out what’s really in this package, but my advice is to keep a tight hold on your wallet.

  3. JD says:

    Fuck them.

  4. happyfeet says:

    it’s Obama’s America anymore but it’s the children what I fear for most

  5. happyfeet says:

    from Mr. sdferr’s link

    The plan targets some provisions of the tax code – such as IRAs and 401(k)s) – that are not preferences, but instead exist to mitigate against the double taxation of saving and investment.

    wtf in the name of all that’s holy does that mean? The cowardly fuckspittles what ran social security into the ground are targeting 401Ks next?

    better and fucking better

  6. happyfeet says:

    this is bullshit America is too effing gay NOT to default I think

  7. serr8d says:

    I heard Mark Stein speak today of the need to repeal the 17th, because of the Imperial nature of our Senate. We cans trade that one for a shiny, new Balanced Budget Amendment?

  8. sdferr says:

    These fucks are teaching us to actually like the idea of default. It’s hard to believe but somehow inexorable.

  9. McGehee says:

    Coburn: “So it’s agreed? Every third deck chair should be moved 1/8 of an inch closer to the rail, and turned five degrees more toward the stern. That should send a very definite signal to all that frigid water rushing into the lower decks that we’re serious about saving this ship.”

  10. newrouter says:

    Posted on July 19, 2011 by Steven Hayward in Federal Budget
    How to Achieve a Balanced Budget Right Now

    The Wall Street Journal editorial page notes today that Republicans will try to force votes today on a balanced-budget amendment to the Constitution, but that like all such efforts since the 1930s, it is unlikely to succeed. And even if it did pass, it is no sure thing that three-fourths of the states would ratify it, since many may assume that a balanced federal budget will entail lower federal subventions to the states—especially big-spending states like New York and California, but even some red states that are net receivers of federal tax dollars. And it would take a while for ratification anyway.

    There’s another way to achieve the goal of a balanced budget amendment right away: don’t pass an increase in the debt ceiling. Government will have to live within its means right now. In other words, the debt ceiling is a balanced budget tool–a powerful one. The constant talk of a default is rank demagoguery of the first order: there will be plenty of tax revenue arriving to service our debt obligations. Obama’s claim that Social Security checks might not go out is very interesting, no? If that were to happen (and there is considerable doubt about whether the Social Security Administration’s doomsday check-writing computers could even be stopped from sending checks and automatic deposits—where, oh where, is a Y2K bug when you need it?), it would expose the fiction that Social Security has a “trust find,” and would make it clear that Social Security funds have been fully raided for other spending. Does Obama really want to go there? Or cut off pay for our troops overseas, rather than cut back the welfare state? Or advocate raising taxes sufficiently to pay for the gap? I know this is Obama’s preferred method, but there isn’t even a majority among Democrats for this option; this is why Obama is trying to force Republicans into their old mode as tax collectors for the welfare state. Time to say No once and for all.

    link

  11. Bob Reed says:

    It’s a shame that the cuts part of this is the usual, “we’ll get to it later, promise…”, since the tax reform part of the package doesn’t look bad at first glance. I personally have heard that tune too many times in my life, and lived through the double-crosses of 1986 and 1990.

    But I’m still digesting the entire thing. It is strange though that Coburn would sign on to this a day after putting forth his own plan. According to the Hill, this is causing McConnell’s idea to fade from the Senate’s mind, which should count for something at least.

    If they’re only cutting it 500 billion to start, why not only raise the limit as much as is cut. Think of it as benchmarks to achieve, like in a construction project. Raise the limit equal to the amount that’s cut each time.

  12. Bob Reed says:

    Well, now I’m more skeptical, since The Won is praising it so

    http://www.politico.com/news/stories/0711/59377.html

    I wonder what DeMint thinks?

  13. Squid says:

    Why is Coburn supporting this? I thought he was supposed to be staunchy.

  14. Bob Reed says:

    I thought the same Squid. Perhaps it’s because of the tax reform element. That part at least sounds like it might be good for the economy, macroscopically. But the debt increase might wash that, so to speak.

    I’m still digesting it.

    No matter what I think the Senate should be forced to vote on the House proposal, CC&B.

  15. JD says:

    Minor cuts today, tax increases today, and promises for gimmick cuts in the future that will never happen. No thanks.

    How much savings could they realize if they simply removed the one-time temporary “stimulus” from the baseline of budgets going forward?

    I cannot stand these people.

  16. JHoward says:

    Members of the Gang of Six may be more likely to take a chance on a politically unpopular solution. The only senator in the group who is up for reelection in 2012 is Conrad, and he has announced he won’t run again.

    Amend congressional retirement plans. But what am I thinking.

  17. geoffb says:

    This opening paragraph at Daily Kos fits:

    The details of the Gang of Six plan released today are still a bit sketchy, but it’s getting plenty of support in the Senate.

    Me, I was only there because they had this link to the Executive (5 page pdf) Summary.

  18. happyfeet says:

    doctor okietard better keep his goddamn hands off my 401k is all I’m saying

  19. newrouter says:

    i sense an interesting mark levin rant this evening

  20. Jeff G. says:

    I was thinking the same thing, newrouter.

  21. geoffb says:

    Here is all they say in the summary ‘feets.

    Reform, not eliminate, tax expenditures for health, charitable giving, homeownership,
    and retirement, and retain support for low-income workers and families.

  22. geoffb says:

    the whole of the tax section seems to have internal contradictions.

    Require the Finance Committee to report tax reform within six months that would deliver real deficit savings by broadening the tax base, lowering tax rates, and generating economic growth as follows:
    • Simplify the tax code by reducing the number of tax expenditures and reducing individual tax rates, by establishing three tax brackets with rates of 8–12 percent, 14–22 percent,
    and 23–29 percent.
    • Permanently repeal the $1.7 trillion Alternative Minimum Tax.
    • Tax reform must be projected to stimulate economic growth, leading to increased revenue.
    • Tax reform must be estimated to provide $1 trillion in additional revenue to meet plan targets and generate an additional $133 billion by 2021, without raising the federal gas tax, to ensure improved solvency for the Highway Trust Fund.
    • If CBO scored this plan, it would find net tax relief of approximately $1.5 trillion.
    • To the extent future Congresses find that the dynamic effects of tax reform result in additional revenue beyond these targets, this revenue must go to additional rate reductions and deficit reduction, not to new spending.
    • Reform, not eliminate, tax expenditures for health, charitable giving, homeownership, and retirement, and retain support for low-income workers and families.
    • Retain the Earned Income Tax Credit and the Child Tax Credit, or provide at least the same level of support for qualified beneficiaries.
    • Maintain or improve the progressivity of the tax code.
    • Establish a single corporate tax rate between 23 percent and 29 percent, raise as much revenue as the current corporate tax system, and move to a competitive territorial tax system.

  23. happyfeet says:

    so… they lower the maximum contributions maybe?

    that’s brilliant the less people invest today while the greedy boomer parasites are busy disinvesting the faster our failshit economy can hollow out and we can all fulfill our destiny of sucking chinese ass from here to eternity

  24. Silver Whistle says:

    After the votes, Obama said he will call Boehner and other congressional leaders back to the White House for the first formal talks since Thursday.

    I sure hope the House tells him and the Senate where to stick it.

  25. JD says:

    This type of gang is far more corrosive to America than the average street gang.

  26. JHoward says:

    the whole of the tax section seems to have internal contradictions.

    That it does:

    Maintain or improve the progressivity of the tax code.

    Let’s pass it to know what that means.

    Once clearly out of the messy little arena of cause and effect — and for that matter, what shit means — there’s nothing we can’t do. Together.

  27. happyfeet says:

    Moody’s will be so very pleased we might get a certificate with a scratch n sniff sticker!

  28. Dave in SoCal says:

    Yep, as soon as I heard that Captain Hopenchange was saying good things about it I knew that the Gang of Six/Seven/Whatever plan was a hand grenade of FAIL.

    We’re boned.

  29. JHoward says:

    “Liberals see opportunity for big cuts in defense”

    Yay!

  30. JD says:

    Defense seems to be the only component of the budget where liberals are willing to make actual cuts.

  31. happyfeet says:

    if we’re truly truly committed to being a dirty socialist leg-humping backwater than we don’t need superpower toys anymore Mr. Howard

    and I think we are

  32. dicentra says:

    They’ll smile and tell us that because both sides are unhappy, they’ve reached a good “compromise.”

    One side wants to build a bridge across the river and the other side does not, so they compromise and build a bridge halfway across.

    And install a trebuchet on the other side to launch the cars a half-league past the shore.

    Brilliant.

  33. JHoward says:

    Now feets, we’re just evolving from a warring culture to an services-centric utopian civilization and monies just had to be reapportioned. It had to happen sooner or later.

  34. Silver Whistle says:

    Nothing good happens when you get too big for your boots, happy.

  35. happyfeet says:

    never trust a dame named Laurence

  36. happyfeet says:

    Mr. Howard we coulda been a contender

  37. geoffb says:

    It seem more along the lines of a conception of some ideas that may lead to a plan for a bill. Everything is turned over to various committees to put the flesh on their “high concept” skeleton. Then if they can’t a special committee will be set up to do what the real committee couldn’t. Grinding some bad sausage they are.

  38. Seth says:

    So how can this plan claim to be a “balanced approach” (which means higher revenues), yet also claim to be a $1.5 trillion tax cut?

    This probably means they are using a CBO baseline that assumes the AMT continues as written today and that the current Bush rates expire.

    Which is all just a bunch of sleight of hand…how stupid do they think we are? Don’t answer that, it’s rhetorical.

  39. JHoward says:

    What you got against bankrupt, decaying, post-industrial shitholes run by progressive oligarchies, feets? Fused at the hip to capitalist dependents willing to sell their souls in exchange for their special dispensations?

    Liberty is was so over-rated.

  40. newrouter says:

    Now, to be sure, there are plenty of Americans who are firmly convinced that we would all be better off if we grew our own food, bought only locally, kept firms small, eschewed modern conveniences like home appliances, went back to using only natural products, expropriated wealthy savers, harassed the capitalistic class until it felt itself unwelcome and vanished. This paradise has a name, and it is Haiti.

    link

  41. Jeff G. says:

    Obama and Coburn are friends.

    And Obama gets what he wants.

    Ruling class vs. the rest of us. Grab your pitchforks or grab your ankles. Your choice.

  42. geoffb says:

    Leadership:

    TAPPER: OK. The House is passing something that many observers feel would never pass the Senate and the president has said he would veto. The Senate is passing — the McConnell-Reid plan, it’s not clear that that could pass the House. The Gang of Seven plan, it’s not clear that that could pass the House. Would this not be an opportune time for a president to lead and say, this —

    CARNEY: Leadership is not proposing a plan for the sake of having it voted up or down, and likely voted down because it is — look, you know how this town works and how Congress works. If an individual, whether Democrat or Republican leader, steps forward and says, this is my plan and solely my plan, it makes it a lot harder for that plan to be the basis for a bipartisan compromise. The way to reach a bipartisan compromise is in bipartisan negotiations where a plan emerges that is the product of that negotiation and is supported by Republicans and Democrats and then presented. Otherwise, your chances of actually achieving something diminish greatly. And I think there is certainly plenty of history to support that idea, and that’s the approach.

    And this is what the president and others have talked about. Bob Dole, Senator — former Senator Dole talked about it, the way these things work. So you — you have to get in the boat together so the boat doesn’t tip over. That’s the approach the president’s taken, not because he wants to win political points but because he wants to get a deal that the American people can support.

    TAPPER: Every time there have been specifics on the table, the president has not gotten in the boat. With his own deficit commission, he didn’t get in that boat.

    [Not] PRESENT!

  43. newrouter says:

    use squid™ pitchforks and feathers

  44. dicentra says:

    Grab your pitchforks or grab your ankles.

    Laws have to be enforced, even the bad ones. We’re at the point where “you and what army” is the best response to Washington.

    Evabody secede from Washington, is what I say. The feds can sit there next to their paper leviathans with their teeth in their mouth and just try to collect all them taxes.

  45. happyfeet says:

    In its earnings commentary on Monday, Halliburton said it expects permitting activity for the Gulf of Mexico to slow down in the current calendar third quarter.*

    and you dumb-ass failshit whored-out-to-the-Chinese Americans wonder why you ain’t got no jobs

  46. pdbuttons says:

    i’m voting for the rents too damn high guy

  47. sdferr says:

    Whizzerville. Gold!

    oh

    no

  48. Darleen says:

    You want clarity?

    Michael Medved is giddy with delight that the GOP is “doing what the public wants, that Congress members actually work together”

    v

    Hugh Hewitt is spitting mad that the GOP is about to be “had” again by their own pramatists … “there are no specifics, nothing written down and tax hikes are looming for some idiotic promise of ‘down payment'”

  49. Darleen says:

    Really … Medved wants pragmatism, optics and process v Hewitt saying ENOUGH already!

  50. sdferr says:

    Karen Tumulty is excited Darleen.

    I expect that means she must imagine she can see a path to Obama’s reelection.

  51. geoffb says:

    “there are no specifics, nothing written down

    That is the special deluxe feature, not some lousy unplanned bug.

    . The way to reach a bipartisan compromise is in bipartisan negotiations where a plan emerges that is the product of that negotiation

    For anyone who has read Larry Niven’s “Ringworld”, Obama is the “Hindmost”.

  52. pdbuttons says:

    i’m voting for the rents too high guy and i’m
    wearing purple sneakers

  53. sdferr says:

    CCB passed, 234-190. Nine R’s voted no, five D’s voted yes.

  54. steph says:

    Medved’s a ruined third-rate thumps-up-my-ass pbs movie shilling whore. Turn off the radio, for christ’s sake

  55. steph says:

    Thumps? thumbs?
    toe maa toe? toe ma toe?

  56. bh says:

    From your link, sdferr:

    Democrats pledged to make the Tuesday vote a campaign issue, saying Republicans had doubled down on their budget proposal to overhaul Medicare, which polls have found to be unpopular. While the GOP “cut, cap and balance” plan does not detail Medicare cuts and exempts it from spending cuts, Democrats said the strict balanced-budget amendment would leave future Congresses with no choice but to slash benefits.

    My emphasis.

    Myself, I thought this had already happened with Obamacare. I suppose they might have forgotten.

    Just once though, I’d like to hear that math and reality forced the cuts in one of these programs. Sure, some people agitated more strongly for paying attention to math and reality than others but they were really more messengers than actual causes.

  57. donald says:

    Where all the mushrooms at?

  58. pdbuttons says:

    ol’ man river
    ‘dat ol man river
    he mus know sumptin
    but don’t say nuthin
    he jes keeps rollin’
    he keeps rollin along

  59. geoffb says:

    Cooking is on topic.

  60. bh says:

    Heh, I declare that it has always been, Geoff.

    Allegories. Wrapped in an mystery.

  61. Darleen says:

    For anyone who has read Larry Niven’s “Ringworld”, Obama is the “Hindmost”.

    Yes, and good god, I almost spit my wine onto the monitor.

  62. Darleen says:

    steph

    I like to keep tabs on people I don’t agree with

  63. jcw46 says:

    It’s better than you think.

    Reading their little ‘Plan’ you will find that SS will not only not be cut or made solvent in some manner but will be saddled with a MINIMUM BENEFIT of 125% of poverty level.

    And that proposed change to the COLA benefit increases will not take effect for 5 years.

    Yeah, THAT’S how you cut spending and reduce the deficit.

    No wonder Oba Won Kenyobi is in favor.

    It’s nice to know we can always count on some RINO to sell out the conservatives and the country when the chips are down and we’ve got the Dems backed into a corner.

  64. Mueller says:

    I just wanna know in what town square the militia is gonna assemble, and what gun to bring.

  65. Carin says:

    Medved thought he recovered from the liberalism of his youth.

    Apparently, he’s still got a bit of the fever.

  66. zino3 says:

    “JD posted on7/19 @ 4:03 pm

    This type of gang is far more corrosive to America than the average street gang.”

    This ain’t no street gang, it’s a flash mob.

  67. zino3 says:

    “happyfeet posted on7/19 @ 4:42 pm

    never trust a dame named Laurence”

    Or one named “stanley”, for that matter.

Comments are closed.