I’ve been hearing ab this 50% deficit reduction, I will be interested to see what the actual plan is. I am less than confident that the Republican’s could get what you’re suggesting, certainly they should try but I think it will get watered down.

The CR cuts turned out to be pathetic and so that has me a little down on this whole thing. I think caps are the best thing out there that Republicans can get.

What’s annoying ab these negotiations is that I feel like they devolve into number twisting and lawyer speak to try to make the deal look good for both sides. It reminds me of NFL contracts which have all kinds of incentives that will never be reached and other goofiness that bloats a 30 million dollar contract to look like 60 million.

Anywho, the issue with cuts is that it’s someone’s sacred cow and we’ll have to hear sob stories about someone or some entity not getting the assistance/investment they need.

Obama does not want to cut anything, they are eternally optimistic that if they just keep spending that eventually the thing will turn around and they won’t have to make any tough choices. They are also pushing the narrative that the choice is btwn Republicans tax breaks for billionaires and gutting of medicare vs Democrats taxes for billionaires.

We shall see, I don’t think Obama ever wants to deviate from his ideology until the polls start killing him on an issue.

Cutting spending for NPR and Planned (Un)Parenthood, I hold little hope for real spending cuts. Baseline budgeting makes it too difficult. The only path to real cuts is through Zero Base Budgets — with no earmarks. When someone starts talking about ZBB, then I’ll know they’re serious.

There won’t be change until the public truly gets how bad things are. The public yawns when it hears $trillions thinking “big number, but its a big country”. since they have no perspective. We need to rephrase the issue:

The federal government will need >$1 million per household to pay its IOUs!
> $116 trillion =”official” debt plus money  short for future social security, medicare, etc
Even its “official debt” of $14.2 trillion  is $123,754 per household!
Details at http://StopNationalDebt.com with links to contact congress & complain.

“POLL REVEALS: Americans Are Still In Deep Denial About The Deficit” http://read.bi/h6QDGR If they realized how bad it is politicians would need to act.

Be among the first to join the new Facebook cause “Stop National Debt” : http://www.causes.com/causes/606425-stop-national-debt
since if you don’t spread the word, who will?
We need to spread the word virally to educate non news-junkies.

Obama campaigned on cutting the deficit in half in his first term. This is the last budget that falls completely in his first term, so this is his opportunity. Republicans need to be out there loudly explaining that their 50% deficit reduction is not “extreme” or “draconian” but rather simply what the President promised to do three years ago when the American people elected him.

the dead will start piling up in the streets. Federal spending is what keeps us alive, the bigger the deficits, the luckier we are. When the dollar is devalued and we’re giving away T-bills on street corners, Obama and the Dems, with a push from our helpful media, will start a federal shopping cart program. Chicken skins in the pot and a shopping cart to push around your dollars when you go out to buy toothpaste.
“Progressives” are so sophisticated, we’re lucky to have them.

Addressed by point:

1) You do realize that a cut this large will cause a downturn in growth (ie leading to many lost jobs and potentially a second recession). This is not a scare idea, just an economic reality of the plan (ie we must be willing to defend a short term pain for a long term benefit and cannot act as though cuts will not harm the immediate economy).

2) The 18% of GDP number is probably unrealistic (we haven’t been that low since well before Reagan and with our aging population the only way we can get there is through slashing the defense budget dramatically or essentially eliminating support for the elderly). Again, not saying this shouldn’t be done, but those are the realities of an 18% of GDP number. Also, since GDP fluctuates and during a recession the 18% number would shrink dramatically, would there be a clause that prevents cutting because of a recession (ie keeping spending at the 18% number of the GDP level prior to the recession)?

3) A balanced budget amendment contains many problems, and may hamstring Congress from acting in the best interests of our overall economy/country in the long run. It also has many of the same problems mentioned above during recessionary periods (unless you believe we should return to the boom bust cycle we had prior to the Depression).

I guess I’m missing something here – please explain

“Section 9. Total receipts shall include all receipts of the United States Government except those derived from borrowing. Total outlays shall include all outlays of the United States Government except those for repayment of debt principal.”

If total receipts include all receipts except those derived from borrowing, and total outlays include all outlays except those for repayment of the debt, then how does this balanced budget amendment – proposed by Senator Lee NOT permit the government to continue to borrow money simply to pay the interest on our national debt.?

Is this the case, or am I reading it wrong?

If this amendment does permit this, then why should we go to the trouble of passing an amendment under the guise of fiscal responsibility if it will only continue to make it easy for our government to be fiscally irresponsible?

Why include these exceptions in the amendment?

“drastic” cuts in spending — not more taxes or “hidden means of increasing revenue.” When was the last time a Representative or Senator took a pay cut? They have given themselves pay raises almost every year. Their pay raises should be based on “merit” just like the rest of us. Time for THEM to take a pay cut & start paying SS/Medicare taxes like the rest of the working world!

That is how much sense any of this makes to the average American. The Avg American will not do anything until it hurts them. As long as they can pull up to the pump and fill up with gas they ultimately won’t do anything about gas prices except whine. As long as they personally have jobs they won’t fight for the ones that don’t. This is why our congressmen get into office and then proceed to do what they want to. They have already forgotten the 2010 election. they chose a RINO to be the Speaker of the House and look what that is getting us. NOTHING. People need to understand that if we continue on the current track pain is going to come son and big time. The problem is that this time it may be too late to stop it. Percentage wise we have never been in this much trouble before. When this crashes and it will if a course change is not made, the coming events wil make the 1929 fiasco look like a Sunday afternoon walk int the park. This RSC plan looks like the first serious approach to the problem. Let’s hope that something can come of it.