The plan appears to a complete capitulation into the Tea Party looney fringe world of policy.
Here's what we don't see - an end to a war or two, raising taxes on the ultra rich, any incentive to create jobs, and any improvement to health care possibly the worst deficit culprit of all.
We are being set up for a crap shower.
CS Monitor: 'Gang of Six' plan hailed as debt-ceiling breakthrough. What's in it?
A new bill that cuts $500 billion in discretionary spending over 10 years, including defense spending.
An immediate freeze of congressional pay and the sale of unused federal property.
New discretionary spending caps through 2015.
A requirement that congressional committees report legislation within six months to find billions in savings in entitlement programs over 10 years.
Creation of a 67-vote threshold to make it more difficult for Congress to exceed its spending caps.
A longer-term overhaul of the tax code, eliminating many tax breaks and using the savings to reduce marginal income tax rates and pay down the deficit.
Elimination of the $1.7 trillion Alternative Minimum Tax and the $298 billion Sustainable Growth Rate formula for Medicare (known as the “doc fix”) – provisions aimed at reducing deficits that Congress has routinely bypassed.
An overhaul of Social Security, but direction of all savings to long-term solvency, not to paying down the debt.
1 comment:
The sale of public land? OMG, Instead of cutting back on their drunken spending, they are going to sell this country right out from under us! PROBABLY TO OUR NOTE HOLDERS! HEIL COMMIES!
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